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XUT.TO vs. MNT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUT.TO vs. MNT.TO

Last updated Jun 14, 2026

XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD, while MNT.TO is a Gold fund. Over the past 10 years, XUT.TO returned 8.96%/yr vs 12.87%/yr for MNT.TO. At a 0.05 correlation, their price movements are largely independent.

Performance

XUT.TO vs. MNT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.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, XUT.TO achieves a 16.33% return, which is significantly higher than MNT.TO's -5.87% return. Over the past 10 years, XUT.TO has underperformed MNT.TO with an annualized return of 8.96%, while MNT.TO has yielded a comparatively higher 12.87% annualized return.

XUT.TO

1D
0.05%
1M
4.08%
YTD
16.33%
6M
13.38%
1Y
21.77%
3Y*
12.14%
5Y*
6.77%
10Y*
8.96%

MNT.TO

1D
1.07%
1M
-7.28%
YTD
-5.87%
6M
-7.90%
1Y
17.90%
3Y*
32.02%
5Y*
20.37%
10Y*
12.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUT.TO vs. MNT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		16.33%14.74%13.09%-0.45%-11.02%8.92%14.74%36.63%-8.30%10.16%
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		-5.87%61.23%44.81%3.61%10.52%-10.51%26.14%13.47%5.87%5.52%

Correlation

The correlation between XUT.TO and MNT.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.09

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

0.10

Correlation (10Y)
Calculated over the trailing 10-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2012

0.05

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iShares S&P/TSX Capped Utilities Index ETF

Royal Canadian Mint - Canadian Gold Reserves

Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XEI.TOXUT.TO vs. ZLB.TOXUT.TO vs. XIU.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPU
Often compared with MNT.TO:
MNT.TO vs. KILO.TOMNT.TO vs. CGL-C.TOMNT.TO vs. PHYS.TOMNT.TO vs. XGD.TOMNT.TO vs. CGL.TOMNT.TO vs. ZGLD.TOMNT.TO vs. GLDM

Return for Risk

XUT.TO vs. MNT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUT.TO
XUT.TO Risk / Return Rank: 7575
Overall Rank
XUT.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 5353
Martin Ratio Rank
MNT.TO
MNT.TO Risk / Return Rank: 2222
Overall Rank
MNT.TO Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
MNT.TO Sortino Ratio Rank: 2222
Sortino Ratio Rank
MNT.TO Omega Ratio Rank: 2525
Omega Ratio Rank
MNT.TO Calmar Ratio Rank: 2020
Calmar Ratio Rank
MNT.TO Martin Ratio Rank: 2020
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.

XUT.TO vs. MNT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.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.

XUT.TOMNT.TODifference
Sharpe ratioReturn per unit of total volatility
2.48
0.69

+1.80

Sortino ratioReturn per unit of downside risk
3.20
1.10

+2.10

Omega ratioGain probability vs. loss probability

1.49

1.15

+0.34

Calmar ratioReturn relative to maximum drawdown

2.83

0.74

+2.09

Martin ratioReturn relative to average drawdown

8.04

2.05

+6.00

XUT.TO vs. MNT.TO - Sharpe Ratio Comparison

The current XUT.TO Sharpe Ratio is 2.48, which is higher than the MNT.TO Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of XUT.TO and MNT.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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Drawdowns

XUT.TO vs. MNT.TO - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.65%, which is greater than MNT.TO's maximum drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for XUT.TO and MNT.TO.

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Drawdown Indicators

XUT.TOMNT.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.65%

-34.79%

-2.86%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-28.55%

+20.91%

Max Drawdown (3Y)

Largest decline over 3 years

-17.51%

-28.55%

+11.04%

Max Drawdown (5Y)

Largest decline over 5 years

-28.54%

-28.55%

+0.01%

Max Drawdown (10Y)

Largest decline over 10 years

-37.65%

-33.58%

-4.07%

Current Drawdown

Current decline from peak

0.00%

-24.98%

+24.98%

Average Drawdown

Average peak-to-trough decline

-5.81%

-15.85%

+10.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

10.32%

-7.63%

Volatility

XUT.TO vs. MNT.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 2.56%, while Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) has a volatility of 7.78%. This indicates that XUT.TO experiences smaller price fluctuations and is considered to be less risky than MNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUT.TOMNT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.56%

7.78%

-5.22%

Volatility (6M)

Calculated over the trailing 6-month period

7.57%

25.95%

-18.38%

Volatility (1Y)

Calculated over the trailing 1-year period

8.76%

30.85%

-22.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.77%

20.49%

-7.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.17%

19.66%

-3.49%

Dividends

XUT.TO vs. MNT.TO - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.25%, while MNT.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.25%3.91%4.00%3.90%3.80%3.04%4.51%3.57%4.52%3.57%3.74%4.05%

Frequently Asked Questions

XUT.TO and MNT.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XUT.TO is categorized as Utilities Equities, while MNT.TO is Gold.

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