XGD.TO vs. XGLD.L
XGD.TO (iShares S&P/TSX Global Gold Index ETF) and XGLD.L (Xtrackers Physical Gold ETC) are both Precious Metals funds - XGD.TO tracks the Morningstar Gbl Gold GR CAD while XGLD.L tracks the Gold. Both are passively managed. Over the past 10 years, XGD.TO returned 14.79%/yr vs 14.13%/yr for XGLD.L. At a 0.45 correlation, their price movements are largely independent. XGD.TO charges 0.61%/yr vs 0.25%/yr for XGLD.L.
Performance
XGD.TO vs. XGLD.L - Performance Comparison
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Different Trading Currencies
XGD.TO is traded in CAD, while XGLD.L is traded in USD. To make them comparable, the XGLD.L values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XGD.TO achieves a 3.35% return, which is significantly lower than XGLD.L's 4.39% return. Both investments have delivered pretty close results over the past 10 years, with XGD.TO having a 14.79% annualized return and XGLD.L not far behind at 14.13%.
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%
XGLD.L
- 1D
- -0.96%
- 1M
- -1.99%
- YTD
- 4.39%
- 6M
- 4.80%
- 1Y
- 34.04%
- 3Y*
- 32.49%
- 5Y*
- 21.69%
- 10Y*
- 14.13%
XGD.TO vs. XGLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGD.TO iShares S&P/TSX Global Gold Index ETF | 3.35% | 144.45% | 19.63% | 3.91% | -3.10% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
XGLD.L Xtrackers Physical Gold ETC | 4.39% | 57.05% | 36.68% | 10.87% | 6.87% | -5.05% | 22.01% | 12.53% | 7.01% | 4.56% |
Correlation
The correlation between XGD.TO and XGLD.L is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2010 | 0.45 |
The correlation between XGD.TO and XGLD.L shifts across timeframes, from 0.45 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGD.TO vs. XGLD.L — Risk / Return Rank
XGD.TO
XGLD.L
XGD.TO vs. XGLD.L - 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 Xtrackers Physical Gold ETC (XGLD.L). 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.TO | XGLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 1.91 | +0.45 |
| Martin ratioReturn relative to average drawdown | 6.22 | 5.19 | +1.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XGD.TO | XGLD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 1.42 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 1.31 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.92 | -0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.59 | -0.34 |
Drawdowns
XGD.TO vs. XGLD.L - Drawdown Comparison
The maximum XGD.TO drawdown since its inception was -72.55%, which is greater than XGLD.L's maximum drawdown of -32.60%. Use the drawdown chart below to compare losses from any high point for XGD.TO and XGLD.L.
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Drawdown Indicators
| XGD.TO | XGLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.55% | -32.60% | -39.95% |
Max Drawdown (1Y)Largest decline over 1 year | -28.95% | -17.77% | -11.18% |
Max Drawdown (3Y)Largest decline over 3 years | -28.95% | -17.77% | -11.18% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -17.77% | -23.05% |
Max Drawdown (10Y)Largest decline over 10 years | -46.96% | -22.27% | -24.69% |
Current DrawdownCurrent decline from peak | -23.49% | -15.09% | -8.40% |
Average DrawdownAverage peak-to-trough decline | -28.30% | -11.82% | -16.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.93% | 6.54% | +4.39% |
Volatility
XGD.TO vs. XGLD.L - Volatility Comparison
iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 14.43% compared to Xtrackers Physical Gold ETC (XGLD.L) at 6.27%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than XGLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGD.TO | XGLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.43% | 6.27% | +8.16% |
Volatility (6M)Calculated over the trailing 6-month period | 34.40% | 20.85% | +13.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.86% | 23.89% | +18.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.64% | 16.61% | +16.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.38% | 15.38% | +18.00% |
XGD.TO vs. XGLD.L - Expense Ratio Comparison
XGD.TO has a 0.61% expense ratio, which is higher than XGLD.L's 0.25% expense ratio.
Dividends
XGD.TO vs. XGLD.L - Dividend Comparison
XGD.TO's dividend yield for the trailing twelve months is around 0.60%, while XGLD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XGLD.L Xtrackers Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XGD.TO and XGLD.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGLD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGLD.L is cheaper with a 0.25% expense ratio, compared with 0.61% for XGD.TO.
XGD.TO tracks Morningstar Gbl Gold GR CAD, while XGLD.L tracks Gold. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.61% for XGD.TO and 0.25% for XGLD.L.
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