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ZGLH.TO vs. HGY.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZGLH.TO vs. HGY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) and Global X Gold Yield ETF (HGY.TO).

ZGLH.TO and HGY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZGLH.TO is an actively managed fund by BMO. It was launched on Mar 8, 2024. HGY.TO is an actively managed fund by Global X. It was launched on Dec 14, 2010.

Performance

ZGLH.TO vs. HGY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) and Global X Gold Yield ETF (HGY.TO). The values are adjusted to include any dividend payments, if applicable.

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ZGLH.TO vs. HGY.TO - Yearly Performance Comparison

2026 (YTD)20252024
ZGLH.TO
BMO Gold Bullion Hedged to CAD ETF		7.81%61.24%18.72%
HGY.TO
Global X Gold Yield ETF		2.11%48.66%16.55%

Returns By Period

In the year-to-date period, ZGLH.TO achieves a 7.81% return, which is significantly higher than HGY.TO's 2.11% return.

ZGLH.TO

1D
4.00%
1M
-11.16%
YTD
7.81%
6M
19.83%
1Y
46.30%
3Y*
—
5Y*
—
10Y*
—

HGY.TO

1D
0.00%
1M
-13.74%
YTD
2.11%
6M
11.36%
1Y
32.43%
3Y*
24.33%
5Y*
15.60%
10Y*
9.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO Gold Bullion Hedged to CAD ETF

Global X Gold Yield ETF

Often compared with ZGLH.TO:
ZGLH.TO vs. ZGLD.TOZGLH.TO vs. KILO-B.TOZGLH.TO vs. CGL-C.TOZGLH.TO vs. ZGD.TOZGLH.TO vs. KILO.TOZGLH.TO vs. HGGG.TOZGLH.TO vs. CGL.TO
Often compared with HGY.TO:
HGY.TO vs. GC=FHGY.TO vs. VALT.TOHGY.TO vs. VDY.TOHGY.TO vs. XEG.TOHGY.TO vs. XGD.TOHGY.TO vs. HGGG.TOHGY.TO vs. AMAX.TO

ZGLH.TO vs. HGY.TO - Expense Ratio Comparison

ZGLH.TO has a 0.23% expense ratio, which is lower than HGY.TO's 0.86% expense ratio.

HGY.TO
Global X Gold Yield ETF
ZGLH.TO
BMO Gold Bullion Hedged to CAD ETF

Return for Risk

ZGLH.TO vs. HGY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZGLH.TO
ZGLH.TO Risk / Return Rank: 8282
Overall Rank
ZGLH.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
ZGLH.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
ZGLH.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZGLH.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
ZGLH.TO Martin Ratio Rank: 8181
Martin Ratio Rank
HGY.TO
HGY.TO Risk / Return Rank: 7373
Overall Rank
HGY.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
HGY.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
HGY.TO Omega Ratio Rank: 7171
Omega Ratio Rank
HGY.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
HGY.TO Martin Ratio Rank: 7474
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.

ZGLH.TO vs. HGY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) and Global X Gold Yield ETF (HGY.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.

ZGLH.TOHGY.TODifference

Sharpe ratio

Return per unit of total volatility

1.71

1.38

+0.33

Sortino ratio

Return per unit of downside risk

2.15

1.82

+0.33

Omega ratio

Gain probability vs. loss probability

1.32

1.27

+0.05

Calmar ratio

Return relative to maximum drawdown

2.48

1.93

+0.55

Martin ratio

Return relative to average drawdown

9.14

7.93

+1.21

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZGLH.TO vs. HGY.TO - Sharpe Ratio Comparison

The current ZGLH.TO Sharpe Ratio is 1.71, which is comparable to the HGY.TO Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of ZGLH.TO and HGY.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZGLH.TOHGY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

1.38

+0.33

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.03

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.92

—

—

Correlation

The correlation between ZGLH.TO and HGY.TO is 0.72, 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

ZGLH.TO vs. HGY.TO - Dividend Comparison

ZGLH.TO has not paid dividends to shareholders, while HGY.TO's dividend yield for the trailing twelve months is around 5.53%.

TTM20252024202320222021202020192018201720162015
ZGLH.TO
BMO Gold Bullion Hedged to CAD ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HGY.TO
Global X Gold Yield ETF		5.53%4.92%5.32%6.10%6.42%5.87%5.72%4.19%4.66%4.63%5.37%6.13%

Drawdowns

ZGLH.TO vs. HGY.TO - Drawdown Comparison

The maximum ZGLH.TO drawdown since its inception was -19.51%, smaller than the maximum HGY.TO drawdown of -188,898.12%. Use the drawdown chart below to compare losses from any high point for ZGLH.TO and HGY.TO.

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Drawdown Indicators

ZGLH.TOHGY.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.51%

-188,898.12%

+188,878.61%

Max Drawdown (1Y)

Largest decline over 1 year

-19.51%

-17.47%

-2.04%

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.32%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-20.31%

—

Current Drawdown

Current decline from peak

-13.47%

-161,050.90%

+161,037.43%

Average Drawdown

Average peak-to-trough decline

-2.71%

-74,810.45%

+74,807.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.30%

4.26%

+1.04%

Volatility

ZGLH.TO vs. HGY.TO - Volatility Comparison

BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) has a higher volatility of 11.24% compared to Global X Gold Yield ETF (HGY.TO) at 9.78%. This indicates that ZGLH.TO's price experiences larger fluctuations and is considered to be riskier than HGY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZGLH.TOHGY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

11.24%

9.78%

+1.46%

Volatility (6M)

Calculated over the trailing 6-month period

23.59%

20.33%

+3.26%

Volatility (1Y)

Calculated over the trailing 1-year period

27.19%

23.57%

+3.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.13%

15.30%

+6.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.13%

15.27%

+6.86%