XQQ.TO vs. CGL.TO
XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both exchange-traded funds - XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD, while CGL.TO is a Gold fund tracking the Gold Bullion. Both are passively managed. Over the past 10 years, XQQ.TO returned 20.19%/yr vs 11.18%/yr for CGL.TO. At a 0.02 correlation, their price movements are largely independent. XQQ.TO charges 0.39%/yr vs 0.55%/yr for CGL.TO.
Performance
XQQ.TO vs. CGL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XQQ.TO achieves a 19.59% return, which is significantly higher than CGL.TO's -0.75% return. Over the past 10 years, XQQ.TO has outperformed CGL.TO with an annualized return of 20.19%, while CGL.TO has yielded a comparatively lower 11.18% annualized return.
XQQ.TO
- 1D
- 3.04%
- 1M
- 4.80%
- YTD
- 19.59%
- 6M
- 17.73%
- 1Y
- 35.57%
- 3Y*
- 24.45%
- 5Y*
- 14.91%
- 10Y*
- 20.19%
CGL.TO
- 1D
- 2.52%
- 1M
- -5.26%
- YTD
- -0.75%
- 6M
- -0.60%
- 1Y
- 22.95%
- 3Y*
- 27.87%
- 5Y*
- 16.95%
- 10Y*
- 11.18%
XQQ.TO vs. CGL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 19.59% | 15.77% | 24.69% | 53.25% | -33.13% | 22.76% | 46.12% | 38.92% | -1.32% | 33.41% |
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -0.75% | 60.08% | 25.70% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
Correlation
The correlation between XQQ.TO and CGL.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 10, 2011 | 0.02 |
Over the past year, XQQ.TO and CGL.TO have become more correlated (0.24) than their long-term average of 0.02, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XQQ.TO vs. CGL.TO — Risk / Return Rank
XQQ.TO
CGL.TO
XQQ.TO vs. CGL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) and iShares Gold Bullion ETF (CAD-Hedged) (CGL.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.
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.
| XQQ.TO | CGL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.17 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 0.92 | +1.51 |
| Martin ratioReturn relative to average drawdown | 8.08 | 2.64 | +5.44 |
Loading charts...
Drawdowns
XQQ.TO vs. CGL.TO - Drawdown Comparison
The maximum XQQ.TO drawdown since its inception was -38.25%, smaller than the maximum CGL.TO drawdown of -45.96%. Use the drawdown chart below to compare losses from any high point for XQQ.TO and CGL.TO.
Loading charts...
Drawdown Indicators
| XQQ.TO | CGL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.25% | -45.96% | +7.71% |
Max Drawdown (1Y)Largest decline over 1 year | -14.68% | -24.93% | +10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -24.93% | +2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -38.25% | -24.93% | -13.32% |
Max Drawdown (10Y)Largest decline over 10 years | -38.25% | -24.93% | -13.32% |
Current DrawdownCurrent decline from peak | -0.45% | -20.54% | +20.09% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -20.30% | +14.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 8.75% | -4.33% |
Volatility
XQQ.TO vs. CGL.TO - Volatility Comparison
iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) and iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) have volatilities of 7.98% and 8.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XQQ.TO | CGL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.98% | 8.23% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 24.17% | -9.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.42% | 27.71% | -10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.77% | 18.58% | +4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.53% | 16.55% | +5.98% |
XQQ.TO vs. CGL.TO - Expense Ratio Comparison
XQQ.TO has a 0.39% expense ratio, which is lower than CGL.TO's 0.55% expense ratio.
Dividends
XQQ.TO vs. CGL.TO - Dividend Comparison
XQQ.TO's dividend yield for the trailing twelve months is around 0.21%, while CGL.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.21% | 0.25% | 0.67% | 0.93% | 1.27% | 0.52% | 0.80% | 1.44% | 1.61% | 1.64% | 2.35% | 1.93% |
Frequently Asked Questions
XQQ.TO and CGL.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.55% for CGL.TO.
XQQ.TO is categorized as Nasdaq-100, while CGL.TO is Gold. XQQ.TO tracks Morningstar US Market TR CAD, while CGL.TO tracks Gold Bullion. Their fees differ too: 0.39% for XQQ.TO and 0.55% for CGL.TO.
Find the right allocation for XQQ.TO and CGL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer