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

ZGLH.TO vs. ZGD.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) and BMO Equal Weight Global Gold Index ETF (ZGD.TO).

ZGLH.TO and ZGD.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. 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.

Performance

ZGLH.TO vs. ZGD.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 BMO Equal Weight Global Gold Index ETF (ZGD.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024
ZGLH.TO
BMO Gold Bullion Hedged to CAD ETF		7.81%61.24%18.72%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		11.73%170.64%34.04%

Returns By Period

In the year-to-date period, ZGLH.TO achieves a 7.81% return, which is significantly lower than ZGD.TO's 11.73% return.

ZGLH.TO

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

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%
*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

BMO Equal Weight Global Gold Index ETF

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Often compared with ZGD.TO:
ZGD.TO vs. XGD.TOZGD.TO vs. GLDZGD.TO vs. AMAX.TOZGD.TO vs. GDXUZGD.TO vs. SGDMZGD.TO vs. ZEB.TOZGD.TO vs. RGPM.NEO

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

ZGLH.TO has a 0.23% expense ratio, which is lower than ZGD.TO's 0.60% expense ratio.

ZGD.TO
BMO Equal Weight Global Gold Index ETF
ZGLH.TO
BMO Gold Bullion Hedged to CAD ETF

Return for Risk

ZGLH.TO vs. ZGD.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
ZGD.TO
ZGD.TO Risk / Return Rank: 9595
Overall Rank
ZGD.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ZGD.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
ZGD.TO Omega Ratio Rank: 9494
Omega Ratio Rank
ZGD.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
ZGD.TO Martin Ratio Rank: 9595
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. ZGD.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 BMO Equal Weight Global Gold Index ETF (ZGD.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.TOZGD.TODifference

Sharpe ratio

Return per unit of total volatility

1.71

2.75

-1.04

Sortino ratio

Return per unit of downside risk

2.15

2.86

-0.71

Omega ratio

Gain probability vs. loss probability

1.32

1.43

-0.11

Calmar ratio

Return relative to maximum drawdown

2.48

4.17

-1.69

Martin ratio

Return relative to average drawdown

9.14

15.14

-6.00

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. ZGD.TO - Sharpe Ratio Comparison

The current ZGLH.TO Sharpe Ratio is 1.71, which is lower than the ZGD.TO Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of ZGLH.TO and ZGD.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.TOZGD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

2.75

-1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.98

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.58

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.92

0.30

+1.62

Correlation

The correlation between ZGLH.TO and ZGD.TO is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ZGLH.TO vs. ZGD.TO - Dividend Comparison

ZGLH.TO has not paid dividends to shareholders, while ZGD.TO's dividend yield for the trailing twelve months is around 0.20%.

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%
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%

Drawdowns

ZGLH.TO vs. ZGD.TO - Drawdown Comparison

The maximum ZGLH.TO drawdown since its inception was -19.51%, smaller than the maximum ZGD.TO drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for ZGLH.TO and ZGD.TO.

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Drawdown Indicators

ZGLH.TOZGD.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.51%

-60.12%

+40.61%

Max Drawdown (1Y)

Largest decline over 1 year

-19.51%

-30.15%

+10.64%

Max Drawdown (5Y)

Largest decline over 5 years

—

-42.75%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-51.72%

—

Current Drawdown

Current decline from peak

-13.47%

-18.77%

+5.30%

Average Drawdown

Average peak-to-trough decline

-2.71%

-28.47%

+25.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.30%

8.30%

-3.00%

Volatility

ZGLH.TO vs. ZGD.TO - Volatility Comparison

The current volatility for BMO Gold Bullion Hedged to CAD ETF (ZGLH.TO) is 11.24%, while BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a volatility of 18.29%. This indicates that ZGLH.TO experiences smaller price fluctuations and is considered to be less risky than ZGD.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.TOZGD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

11.24%

18.29%

-7.05%

Volatility (6M)

Calculated over the trailing 6-month period

23.59%

37.55%

-13.96%

Volatility (1Y)

Calculated over the trailing 1-year period

27.19%

45.29%

-18.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.13%

35.83%

-13.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.13%

37.54%

-15.41%