ZGD.TO vs. SGDM

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Equal Weight Global Gold Index ETF (ZGD.TO) and Sprott Gold Miners ETF (SGDM).

ZGD.TO and SGDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZGD.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Global Gold Index. It was launched on Nov 14, 2012. SGDM is a passively managed fund by Sprott that tracks the performance of the Solactive Gold Miners Custom Factors Index. It was launched on Jul 15, 2014. Both ZGD.TO and SGDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZGD.TO vs. SGDM - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight Global Gold Index ETF (ZGD.TO) and Sprott Gold Miners ETF (SGDM). The values are adjusted to include any dividend payments, if applicable.

ZGD.TO vs. SGDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZGD.TO BMO Equal Weight Global Gold Index ETF	11.73%	170.64%	37.48%	10.17%	-2.30%	-12.57%	26.59%	53.72%	-12.09%	-0.73%
SGDM Sprott Gold Miners ETF	9.88%	141.84%	21.78%	0.09%	-1.69%	-9.97%	19.79%	37.18%	-7.95%	3.42%

Different Trading Currencies

ZGD.TO is traded in CAD, while SGDM is traded in USD. To make them comparable, the SGDM 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 11.73% return, which is significantly higher than SGDM's 9.88% return. Over the past 10 years, ZGD.TO has outperformed SGDM with an annualized return of 21.57%, while SGDM has yielded a comparatively lower 16.69% annualized return.

ZGD.TO

• 1D: 7.87%
• 1M: -18.70%
• YTD: 11.73%
• 6M: 31.71%
• 1Y: 123.98%
• 3Y*: 57.32%
• 5Y*: 35.00%
• 10Y*: 21.57%

SGDM

• 1D: 6.79%
• 1M: -19.09%
• YTD: 9.88%
• 6M: 22.93%
• 1Y: 94.37%
• 3Y*: 41.70%
• 5Y*: 26.10%
• 10Y*: 16.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZGD.TO vs. SGDM - Expense Ratio Comparison

ZGD.TO has a 0.60% expense ratio, which is higher than SGDM's 0.50% expense ratio.

ZGD.TO

BMO Equal Weight Global Gold Index ETF

SGDM

Sprott Gold Miners ETF

Return for Risk

ZGD.TO vs. SGDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZGD.TO

ZGD.TO Risk / Return Rank: 95
ZGD.TO Sharpe Ratio Rank: 97
ZGD.TO Sortino Ratio Rank: 94
ZGD.TO Omega Ratio Rank: 94
ZGD.TO Calmar Ratio Rank: 96
ZGD.TO Martin Ratio Rank: 95

SGDM

SGDM Risk / Return Rank: 92
SGDM Sharpe Ratio Rank: 94
SGDM Sortino Ratio Rank: 89
SGDM Omega Ratio Rank: 90
SGDM Calmar Ratio Rank: 93
SGDM Martin Ratio Rank: 92

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.

ZGD.TO vs. SGDM - 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 Sprott Gold Miners ETF (SGDM). 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.

	ZGD.TO	SGDM	Difference
Sharpe ratio Return per unit of total volatility	2.75	2.17	+0.58
Sortino ratio Return per unit of downside risk	2.86	2.39	+0.47
Omega ratio Gain probability vs. loss probability	1.43	1.36	+0.07
Calmar ratio Return relative to maximum drawdown	4.17	3.25	+0.92
Martin ratio Return relative to average drawdown	15.14	11.93	+3.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZGD.TO vs. SGDM - Sharpe Ratio Comparison

The current ZGD.TO Sharpe Ratio is 2.75, which is comparable to the SGDM Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ZGD.TO and SGDM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZGD.TO	SGDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	2.17	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.80	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.48	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.37	-0.07

Correlation

The correlation between ZGD.TO and SGDM is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZGD.TO vs. SGDM - Dividend Comparison

ZGD.TO's dividend yield for the trailing twelve months is around 0.20%, less than SGDM's 0.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZGD.TO BMO Equal Weight Global Gold Index ETF	0.20%	0.22%	0.59%	0.76%	0.77%	0.38%	0.16%	1.20%	0.00%	0.00%	0.32%	0.46%
SGDM Sprott Gold Miners ETF	0.96%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Drawdowns

ZGD.TO vs. SGDM - Drawdown Comparison

The maximum ZGD.TO drawdown since its inception was -60.12%, which is greater than SGDM's maximum drawdown of -49.14%. Use the drawdown chart below to compare losses from any high point for ZGD.TO and SGDM.

Drawdown Indicators

	ZGD.TO	SGDM	Difference
Max Drawdown Largest peak-to-trough decline	-60.12%	-54.95%	-5.17%
Max Drawdown (1Y) Largest decline over 1 year	-30.15%	-30.04%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-42.75%	-45.06%	+2.31%
Max Drawdown (10Y) Largest decline over 10 years	-51.72%	-49.69%	-2.03%
Current Drawdown Current decline from peak	-18.77%	-20.81%	+2.04%
Average Drawdown Average peak-to-trough decline	-28.47%	-25.53%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.30%	8.26%	+0.04%

Volatility

ZGD.TO vs. SGDM - Volatility Comparison

BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a higher volatility of 18.29% compared to Sprott Gold Miners ETF (SGDM) at 17.26%. This indicates that ZGD.TO's price experiences larger fluctuations and is considered to be riskier than SGDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZGD.TO	SGDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.29%	17.26%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	37.55%	37.03%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	45.29%	43.64%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.83%	32.73%	+3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.54%	35.10%	+2.44%