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XGD.TO vs. XEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XGD.TO vs. XEQT.TO

Last updated Jun 4, 2026

XGD.TO (iShares S&P/TSX Global Gold Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - XGD.TO is a Precious Metals fund tracking the Morningstar Gbl Gold GR CAD, while XEQT.TO is a Global Equities fund actively managed by iShares. XGD.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, XGD.TO returned 22.30%/yr vs 13.72%/yr for XEQT.TO. At a 0.23 correlation, their price movements are largely independent. XGD.TO charges 0.61%/yr vs 0.20%/yr for XEQT.TO.

Performance

XGD.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Global Gold Index ETF (XGD.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XGD.TO achieves a 3.35% return, which is significantly lower than XEQT.TO's 12.29% return.

XGD.TO

1D
-2.80%
1M
1.62%
YTD
3.35%
6M
8.72%
1Y
67.78%
3Y*
43.11%
5Y*
22.30%
10Y*
14.79%

XEQT.TO

1D
-0.56%
1M
5.98%
YTD
12.29%
6M
11.20%
1Y
29.24%
3Y*
21.78%
5Y*
13.72%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGD.TO vs. XEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XGD.TO
iShares S&P/TSX Global Gold Index ETF		3.35%144.45%19.63%3.91%-3.10%-5.81%21.10%5.14%
XEQT.TO
iShares Core Equity ETF Portfolio		12.29%19.47%24.36%17.25%-11.01%18.94%11.82%9.89%

Correlation

The correlation between XGD.TO and XEQT.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2019

0.23

The correlation between XGD.TO and XEQT.TO shifts across timeframes, from 0.23 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

XGD.TO vs. XEQT.TO - Sectors Allocation Comparison

Sectors
XGD.TO
XEQT.TO

Basic Materials

100.0%
7.3%

Communication Services

-

6.4%

Consumer Cyclical

-

7.8%

Consumer Defensive

-

4.4%

Energy

-

7.2%

Financial Services

-

20.3%

Healthcare

-

6.6%

Industrials

-

12.1%

Real Estate

-

2.2%

Technology

-

22.9%

Utilities

-

2.8%

Basic Materials

XGD.TO
100.0%
XEQT.TO
7.3%

Communication Services

XGD.TO

-

XEQT.TO
6.4%

Consumer Cyclical

XGD.TO

-

XEQT.TO
7.8%

Consumer Defensive

XGD.TO

-

XEQT.TO
4.4%

Energy

XGD.TO

-

XEQT.TO
7.2%

Financial Services

XGD.TO

-

XEQT.TO
20.3%

Healthcare

XGD.TO

-

XEQT.TO
6.6%

Industrials

XGD.TO

-

XEQT.TO
12.1%

Real Estate

XGD.TO

-

XEQT.TO
2.2%

Technology

XGD.TO

-

XEQT.TO
22.9%

Utilities

XGD.TO

-

XEQT.TO
2.8%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Global Gold Index ETF

iShares Core Equity ETF Portfolio

Often compared with XGD.TO:
XGD.TO vs. CGL.TOXGD.TO vs. GLDXGD.TO vs. ZGD.TOXGD.TO vs. MNT.TOXGD.TO vs. BRK-BXGD.TO vs. ZGLD.TOXGD.TO vs. ZGLD.SW
Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

XGD.TO vs. XEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XGD.TO
XGD.TO Risk / Return Rank: 4242
Overall Rank
XGD.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3939
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGD.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Global Gold Index ETF (XGD.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

XGD.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
1.59
2.53

-0.94

Sortino ratioReturn per unit of downside risk
1.97
3.49

-1.52

Omega ratioGain probability vs. loss probability

1.28

1.47

-0.18

Calmar ratioReturn relative to maximum drawdown

2.35

3.56

-1.21

Martin ratioReturn relative to average drawdown

6.22

15.50

-9.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGD.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current XGD.TO Sharpe Ratio is 1.59, which is lower than the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of XGD.TO and XEQT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XGD.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.59

2.53

-0.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

1.05

-0.36

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.95

-0.70

Drawdowns

XGD.TO vs. XEQT.TO - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.55%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for XGD.TO and XEQT.TO.

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Drawdown Indicators

XGD.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-72.55%

-29.74%

-42.81%

Max Drawdown (1Y)

Largest decline over 1 year

-28.95%

-8.25%

-20.70%

Max Drawdown (3Y)

Largest decline over 3 years

-28.95%

-15.08%

-13.87%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-19.56%

-21.26%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

—

—

Current Drawdown

Current decline from peak

-23.49%

-0.56%

-22.93%

Average Drawdown

Average peak-to-trough decline

-28.30%

-4.11%

-24.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.93%

1.89%

+9.04%

Volatility

XGD.TO vs. XEQT.TO - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 14.43% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 3.70%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XGD.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.43%

3.70%

+10.73%

Volatility (6M)

Calculated over the trailing 6-month period

34.40%

9.38%

+25.02%

Volatility (1Y)

Calculated over the trailing 1-year period

42.86%

11.63%

+31.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.64%

13.12%

+19.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.38%

15.56%

+17.82%

XGD.TO vs. XEQT.TO - Expense Ratio Comparison

XGD.TO has a 0.61% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.

Dividends

XGD.TO vs. XEQT.TO - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.60%, less than XEQT.TO's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.01%2.07%2.12%1.64%1.66%1.19%0.00%0.00%0.00%0.00%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		0.60%0.62%0.93%1.49%1.80%1.38%0.35%0.54%0.25%0.14%0.09%0.57%

Frequently Asked Questions

XGD.TO and XEQT.TO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.61% for XGD.TO.

XGD.TO is categorized as Precious Metals, while XEQT.TO is Global Equities. Their fees differ too: 0.61% for XGD.TO and 0.20% for XEQT.TO.

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