ZGD.TO vs. BTC-USD
ZGD.TO (BMO Equal Weight Global Gold Index ETF) is Gold fund tracking the Solactive Equal Weight Global Gold Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ZGD.TO returned 16.15%/yr vs 58.56%/yr for BTC-USD. At a 0.09 correlation, their price movements are largely independent.
Performance
ZGD.TO vs. BTC-USD - Performance Comparison
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Different Trading Currencies
ZGD.TO is traded in CAD, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZGD.TO achieves a -0.17% return, which is significantly higher than BTC-USD's -24.68% return. Over the past 10 years, ZGD.TO has underperformed BTC-USD with an annualized return of 16.15%, while BTC-USD has yielded a comparatively higher 58.56% annualized return.
ZGD.TO
- 1D
- 3.38%
- 1M
- -15.42%
- YTD
- -0.17%
- 6M
- -8.75%
- 1Y
- 52.12%
- 3Y*
- 49.58%
- 5Y*
- 26.15%
- 10Y*
- 16.15%
BTC-USD
- 1D
- 1.83%
- 1M
- -18.78%
- YTD
- -24.68%
- 6M
- -27.43%
- 1Y
- -37.45%
- 3Y*
- 39.21%
- 5Y*
- 12.86%
- 10Y*
- 58.56%
ZGD.TO vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZGD.TO BMO Equal Weight Global Gold Index ETF | -0.17% | 143.74% | 37.44% | 10.13% | -2.33% | -12.59% | 26.58% | 53.60% | -12.09% | -0.71% |
BTC-USD Bitcoin | -24.68% | -10.55% | 140.73% | 147.36% | -61.80% | 59.32% | 294.97% | 86.10% | -72.52% | 1,313.27% |
Correlation
The correlation between ZGD.TO and BTC-USD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2012 | 0.09 |
The correlation between ZGD.TO and BTC-USD shifts across timeframes, from 0.09 (3 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZGD.TO vs. BTC-USD — Risk / Return Rank
ZGD.TO
BTC-USD
ZGD.TO vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Global Gold Index ETF (ZGD.TO) and Bitcoin (BTC-USD). 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.
| ZGD.TO | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.03 | ||
| Sortino ratioReturn per unit of downside risk | +2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.86 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | -0.73 | +2.34 |
| Martin ratioReturn relative to average drawdown | 4.41 | -1.25 | +5.66 |
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Drawdowns
ZGD.TO vs. BTC-USD - Drawdown Comparison
The maximum ZGD.TO drawdown since its inception was -60.59%, smaller than the maximum BTC-USD drawdown of -83.48%. Use the drawdown chart below to compare losses from any high point for ZGD.TO and BTC-USD.
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Drawdown Indicators
| ZGD.TO | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.59% | -83.48% | +22.89% |
Max Drawdown (1Y)Largest decline over 1 year | -33.55% | -51.27% | +17.72% |
Max Drawdown (3Y)Largest decline over 3 years | -33.55% | -51.27% | +17.72% |
Max Drawdown (5Y)Largest decline over 5 years | -42.75% | -74.94% | +32.19% |
Max Drawdown (10Y)Largest decline over 10 years | -51.83% | -82.60% | +30.77% |
Current DrawdownCurrent decline from peak | -27.42% | -48.18% | +20.76% |
Average DrawdownAverage peak-to-trough decline | -28.83% | -40.00% | +11.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.24% | 35.86% | -23.62% |
Volatility
ZGD.TO vs. BTC-USD - Volatility Comparison
BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a higher volatility of 17.50% compared to Bitcoin (BTC-USD) at 11.82%. This indicates that ZGD.TO's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZGD.TO | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.50% | 11.82% | +5.68% |
Volatility (6M)Calculated over the trailing 6-month period | 39.20% | 33.45% | +5.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.33% | 34.92% | +12.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.92% | 45.70% | -8.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.61% | 56.37% | -18.76% |
Frequently Asked Questions
ZGD.TO and BTC-USD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for ZGD.TO and BTC-USD
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