XGD.TO vs. XLK
XGD.TO (iShares S&P/TSX Global Gold Index ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, XGD.TO returned 14.21%/yr vs 26.27%/yr for XLK. At a 0.10 correlation, their price movements are largely independent. XGD.TO charges 0.61%/yr vs 0.08%/yr for XLK.
Performance
XGD.TO vs. XLK - Performance Comparison
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Different Trading Currencies
XGD.TO is traded in CAD, while XLK is traded in USD. To make them comparable, the XLK 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 -2.21% return, which is significantly lower than XLK's 31.13% return. Over the past 10 years, XGD.TO has underperformed XLK with an annualized return of 14.21%, while XLK has yielded a comparatively higher 26.27% annualized return.
XGD.TO
- 1D
- 2.99%
- 1M
- -13.12%
- YTD
- -2.21%
- 6M
- -1.55%
- 1Y
- 56.40%
- 3Y*
- 41.86%
- 5Y*
- 21.08%
- 10Y*
- 14.21%
XLK
- 1D
- 1.05%
- 1M
- 4.96%
- YTD
- 31.13%
- 6M
- 30.81%
- 1Y
- 59.71%
- 3Y*
- 32.23%
- 5Y*
- 25.59%
- 10Y*
- 26.27%
XGD.TO vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGD.TO iShares S&P/TSX Global Gold Index ETF | -2.21% | 144.45% | 19.63% | 3.91% | -3.13% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
XLK State Street Technology Select Sector SPDR ETF | 31.13% | 18.92% | 31.93% | 52.31% | -23.15% | 34.68% | 40.21% | 43.68% | 6.59% | 25.17% |
Correlation
The correlation between XGD.TO and XLK is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.10 |
The correlation between XGD.TO and XLK shifts across timeframes, from 0.10 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGD.TO vs. XLK — Risk / Return Rank
XGD.TO
XLK
XGD.TO vs. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XGD.TO | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 3.52 | -1.72 |
| Martin ratioReturn relative to average drawdown | 5.00 | 10.37 | -5.37 |
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Drawdowns
XGD.TO vs. XLK - Drawdown Comparison
The maximum XGD.TO drawdown since its inception was -72.56%, which is greater than XLK's maximum drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for XGD.TO and XLK.
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Drawdown Indicators
| XGD.TO | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.56% | -38.68% | -33.88% |
Max Drawdown (1Y)Largest decline over 1 year | -33.06% | -16.16% | -16.90% |
Max Drawdown (3Y)Largest decline over 3 years | -33.06% | -26.35% | -6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -29.64% | -11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -46.96% | -29.64% | -17.32% |
Current DrawdownCurrent decline from peak | -27.60% | -5.87% | -21.73% |
Average DrawdownAverage peak-to-trough decline | -31.89% | -7.56% | -24.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.91% | 5.48% | +6.43% |
Volatility
XGD.TO vs. XLK - Volatility Comparison
iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 16.16% compared to State Street Technology Select Sector SPDR ETF (XLK) at 10.83%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than XLK 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 | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.16% | 10.83% | +5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 36.04% | 19.12% | +16.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.26% | 22.68% | +21.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.95% | 25.91% | +7.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.55% | 25.57% | +7.98% |
XGD.TO vs. XLK - Expense Ratio Comparison
XGD.TO has a 0.61% expense ratio, which is higher than XLK's 0.08% expense ratio.
Dividends
XGD.TO vs. XLK - Dividend Comparison
XGD.TO's dividend yield for the trailing twelve months is around 0.64%, more than XLK's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XGD.TO iShares S&P/TSX Global Gold Index ETF | 0.64% | 0.62% | 0.93% | 1.49% | 1.77% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.10% | 0.57% |
XLK State Street Technology Select Sector SPDR ETF | 0.41% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
XGD.TO and XLK have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLK is cheaper with a 0.08% expense ratio, compared with 0.61% for XGD.TO.
XGD.TO is categorized as Gold, while XLK is Technology Equities. XGD.TO tracks S&P/TSX Global Gold Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.61% for XGD.TO and 0.08% for XLK.
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