ZJG.TO vs. RING

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Junior Gold Index ETF (ZJG.TO) and iShares MSCI Global Gold Miners ETF (RING).

ZJG.TO and RING are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZJG.TO is a passively managed fund by BMO that tracks the performance of the Dow Jones North America Select Junior Gold Index. It was launched on Jan 19, 2010. RING is a passively managed fund by iShares that tracks the performance of the MSCI ACWI Select Gold Miners Investable Market Index. It was launched on Jan 31, 2012. Both ZJG.TO and RING 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

ZJG.TO vs. RING - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Junior Gold Index ETF (ZJG.TO) and iShares MSCI Global Gold Miners ETF (RING). The values are adjusted to include any dividend payments, if applicable.

ZJG.TO vs. RING - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZJG.TO BMO Junior Gold Index ETF	12.15%	154.66%	36.44%	6.11%	-0.89%	-16.72%	24.40%	42.01%	-18.76%	11.85%
RING iShares MSCI Global Gold Miners ETF	8.70%	152.58%	25.94%	9.82%	-9.37%	-8.30%	22.87%	42.55%	-5.78%	3.22%

Different Trading Currencies

ZJG.TO is traded in CAD, while RING is traded in USD. To make them comparable, the RING values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZJG.TO achieves a 12.15% return, which is significantly higher than RING's 8.70% return. Over the past 10 years, ZJG.TO has outperformed RING with an annualized return of 20.60%, while RING has yielded a comparatively lower 18.76% annualized return.

ZJG.TO

• 1D: 8.29%
• 1M: -20.41%
• YTD: 12.15%
• 6M: 28.29%
• 1Y: 119.13%
• 3Y*: 53.40%
• 5Y*: 31.70%
• 10Y*: 20.60%

RING

• 1D: 6.55%
• 1M: -18.99%
• YTD: 8.70%
• 6M: 22.58%
• 1Y: 101.12%
• 3Y*: 50.00%
• 5Y*: 27.59%
• 10Y*: 18.76%

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

ZJG.TO vs. RING - Expense Ratio Comparison

ZJG.TO has a 0.61% expense ratio, which is higher than RING's 0.39% expense ratio.

ZJG.TO

BMO Junior Gold Index ETF

RING

iShares MSCI Global Gold Miners ETF

Return for Risk

ZJG.TO vs. RING — Risk / Return Rank

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

ZJG.TO

ZJG.TO Risk / Return Rank: 94
ZJG.TO Sharpe Ratio Rank: 96
ZJG.TO Sortino Ratio Rank: 92
ZJG.TO Omega Ratio Rank: 93
ZJG.TO Calmar Ratio Rank: 94
ZJG.TO Martin Ratio Rank: 93

RING

RING Risk / Return Rank: 93
RING Sharpe Ratio Rank: 95
RING Sortino Ratio Rank: 91
RING Omega Ratio Rank: 91
RING Calmar Ratio Rank: 94
RING Martin Ratio Rank: 93

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.

ZJG.TO vs. RING - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Junior Gold Index ETF (ZJG.TO) and iShares MSCI Global Gold Miners ETF (RING). 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.

	ZJG.TO	RING	Difference
Sharpe ratio Return per unit of total volatility	2.62	2.27	+0.35
Sortino ratio Return per unit of downside risk	2.78	2.49	+0.29
Omega ratio Gain probability vs. loss probability	1.41	1.37	+0.05
Calmar ratio Return relative to maximum drawdown	3.75	3.49	+0.27
Martin ratio Return relative to average drawdown	13.39	12.59	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZJG.TO vs. RING - Sharpe Ratio Comparison

The current ZJG.TO Sharpe Ratio is 2.62, which is comparable to the RING Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of ZJG.TO and RING, 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

	ZJG.TO	RING	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.27	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.83	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.54	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.19	0.00

Correlation

The correlation between ZJG.TO and RING is 0.84, 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

ZJG.TO vs. RING - Dividend Comparison

ZJG.TO's dividend yield for the trailing twelve months is around 0.10%, less than RING's 0.78% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZJG.TO BMO Junior Gold Index ETF	0.10%	0.12%	0.68%	0.90%	0.83%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RING iShares MSCI Global Gold Miners ETF	0.78%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%

Drawdowns

ZJG.TO vs. RING - Drawdown Comparison

The maximum ZJG.TO drawdown since its inception was -81.59%, which is greater than RING's maximum drawdown of -72.63%. Use the drawdown chart below to compare losses from any high point for ZJG.TO and RING.

Drawdown Indicators

	ZJG.TO	RING	Difference
Max Drawdown Largest peak-to-trough decline	-81.59%	-79.47%	-2.12%
Max Drawdown (1Y) Largest decline over 1 year	-32.02%	-30.11%	-1.91%
Max Drawdown (5Y) Largest decline over 5 years	-41.63%	-47.94%	+6.31%
Max Drawdown (10Y) Largest decline over 10 years	-48.58%	-52.04%	+3.46%
Current Drawdown Current decline from peak	-20.85%	-20.56%	-0.29%
Average Drawdown Average peak-to-trough decline	-49.37%	-47.75%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.98%	8.38%	+0.60%

Volatility

ZJG.TO vs. RING - Volatility Comparison

BMO Junior Gold Index ETF (ZJG.TO) has a higher volatility of 18.91% compared to iShares MSCI Global Gold Miners ETF (RING) at 17.86%. This indicates that ZJG.TO's price experiences larger fluctuations and is considered to be riskier than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZJG.TO	RING	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.91%	17.86%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	39.13%	37.56%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	45.65%	44.76%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.72%	33.33%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.46%	34.85%	+3.61%