ZGD.TO vs. SVR-C.TO
ZGD.TO (BMO Equal Weight Global Gold Index ETF) and SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) are both exchange-traded funds - ZGD.TO is a Gold fund tracking the Solactive Equal Weight Global Gold Index, while SVR-C.TO is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, ZGD.TO returned 16.15%/yr vs 14.84%/yr for SVR-C.TO. At a 0.47 correlation, their price movements are largely independent. ZGD.TO charges 0.60%/yr vs 0.66%/yr for SVR-C.TO.
Performance
ZGD.TO vs. SVR-C.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZGD.TO achieves a -0.17% return, which is significantly higher than SVR-C.TO's -3.47% return. Over the past 10 years, ZGD.TO has outperformed SVR-C.TO with an annualized return of 16.15%, while SVR-C.TO has yielded a comparatively lower 14.84% 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%
SVR-C.TO
- 1D
- 1.42%
- 1M
- -17.08%
- YTD
- -3.47%
- 6M
- 10.25%
- 1Y
- 89.11%
- 3Y*
- 43.04%
- 5Y*
- 22.05%
- 10Y*
- 14.84%
ZGD.TO vs. SVR-C.TO - 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% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -3.47% | 132.91% | 30.61% | -2.65% | 9.69% | -13.03% | 43.88% | 9.28% | -2.35% | -2.30% |
Correlation
The correlation between ZGD.TO and SVR-C.TO is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2012 | 0.47 |
Over the past year, ZGD.TO and SVR-C.TO have become more correlated (0.71) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
ZGD.TO vs. SVR-C.TO — Risk / Return Rank
ZGD.TO
SVR-C.TO
ZGD.TO vs. SVR-C.TO - 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 iShares Silver Bullion ETF (Non-Hedged) (SVR-C.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.
| ZGD.TO | SVR-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.03 | -0.42 |
| Martin ratioReturn relative to average drawdown | 4.41 | 4.36 | +0.05 |
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Drawdowns
ZGD.TO vs. SVR-C.TO - Drawdown Comparison
The maximum ZGD.TO drawdown since its inception was -60.59%, which is greater than SVR-C.TO's maximum drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for ZGD.TO and SVR-C.TO.
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Drawdown Indicators
| ZGD.TO | SVR-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.59% | -53.26% | -7.33% |
Max Drawdown (1Y)Largest decline over 1 year | -33.55% | -43.91% | +10.36% |
Max Drawdown (3Y)Largest decline over 3 years | -33.55% | -43.91% | +10.36% |
Max Drawdown (5Y)Largest decline over 5 years | -42.75% | -43.91% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -51.83% | -43.91% | -7.92% |
Current DrawdownCurrent decline from peak | -27.42% | -40.29% | +12.87% |
Average DrawdownAverage peak-to-trough decline | -28.83% | -28.89% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.24% | 20.45% | -8.21% |
Volatility
ZGD.TO vs. SVR-C.TO - Volatility Comparison
BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a higher volatility of 17.50% compared to iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) at 15.49%. This indicates that ZGD.TO's price experiences larger fluctuations and is considered to be riskier than SVR-C.TO 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 | SVR-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.50% | 15.49% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 39.20% | 56.18% | -16.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.33% | 57.55% | -10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.92% | 35.53% | +1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.61% | 31.58% | +6.03% |
ZGD.TO vs. SVR-C.TO - Expense Ratio Comparison
ZGD.TO has a 0.60% expense ratio, which is lower than SVR-C.TO's 0.66% expense ratio.
Dividends
ZGD.TO vs. SVR-C.TO - Dividend Comparison
ZGD.TO's dividend yield for the trailing twelve months is around 0.22%, while SVR-C.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SVR-C.TO iShares Silver Bullion ETF (Non-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% |
ZGD.TO BMO Equal Weight Global Gold Index ETF | 0.22% | 0.22% | 0.56% | 0.72% | 0.73% | 0.36% | 0.15% | 1.14% | 0.00% | 0.00% | 0.06% | 0.09% |
Frequently Asked Questions
ZGD.TO and SVR-C.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGD.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGD.TO is cheaper with a 0.60% expense ratio, compared with 0.66% for SVR-C.TO.
ZGD.TO is categorized as Gold, while SVR-C.TO is Silver. ZGD.TO tracks Solactive Equal Weight Global Gold Index, while SVR-C.TO tracks LBMA Silver Price. They also come from different issuers: BMO and iShares. Their fees differ too: 0.60% for ZGD.TO and 0.66% for SVR-C.TO.
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