ZJG.TO vs. VALT-U.TO
ZJG.TO (BMO Junior Gold Index ETF) and VALT-U.TO (CI Gold Bullion ETF (US$ Series)) are both Gold funds. ZJG.TO is passively managed, while VALT-U.TO is actively managed. Over the past 5 years, ZJG.TO returned 26.50%/yr vs 20.48%/yr for VALT-U.TO. At a 0.42 correlation, their price movements are largely independent.
Performance
ZJG.TO vs. VALT-U.TO - Performance Comparison
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Different Trading Currencies
ZJG.TO is traded in CAD, while VALT-U.TO is traded in USD. To make them comparable, the VALT-U.TO 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 -10.61% return, which is significantly lower than VALT-U.TO's -2.68% return.
ZJG.TO
- 1D
- -1.09%
- 1M
- -13.92%
- 6M
- -20.57%
- YTD
- -10.61%
- 1Y
- 54.35%
- 3Y*
- 44.80%
- 5Y*
- 26.50%
- 10Y*
- 12.14%
VALT-U.TO
- 1D
- 1.69%
- 1M
- -5.37%
- 6M
- -10.32%
- YTD
- -2.68%
- 1Y
- 26.04%
- 3Y*
- 30.79%
- 5Y*
- 20.48%
- 10Y*
- —
ZJG.TO vs. VALT-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZJG.TO BMO Junior Gold Index ETF | -10.61% | 154.66% | 36.44% | 6.11% | -0.89% | -12.20% |
VALT-U.TO CI Gold Bullion ETF (US$ Series) | -2.68% | 57.87% | 36.96% | 10.73% | 5.35% | -0.94% |
Correlation
The correlation between ZJG.TO and VALT-U.TO is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2021 | 0.42 |
Over the past year, ZJG.TO and VALT-U.TO have become more correlated (0.73) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
ZJG.TO vs. VALT-U.TO — Risk / Return Rank
ZJG.TO
VALT-U.TO
ZJG.TO vs. VALT-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Junior Gold Index ETF (ZJG.TO) and CI Gold Bullion ETF (US$ Series) (VALT-U.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.
| ZJG.TO | VALT-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 0.72 | +0.74 |
| Martin ratioReturn relative to average drawdown | 3.21 | 1.69 | +1.52 |
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Drawdowns
ZJG.TO vs. VALT-U.TO - Drawdown Comparison
The maximum ZJG.TO drawdown since its inception was -81.59%, which is greater than VALT-U.TO's maximum drawdown of -36.22%. Use the drawdown chart below to compare losses from any high point for ZJG.TO and VALT-U.TO.
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Drawdown Indicators
| ZJG.TO | VALT-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.59% | -36.22% | -45.37% |
Max Drawdown (1Y)Largest decline over 1 year | -37.55% | -36.22% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -37.55% | -36.22% | -1.33% |
Max Drawdown (5Y)Largest decline over 5 years | -41.63% | -36.22% | -5.41% |
Max Drawdown (10Y)Largest decline over 10 years | -48.58% | — | — |
Current DrawdownCurrent decline from peak | -36.91% | -35.13% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -48.95% | -5.79% | -43.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.96% | 15.28% | +1.68% |
Volatility
ZJG.TO vs. VALT-U.TO - Volatility Comparison
BMO Junior Gold Index ETF (ZJG.TO) has a higher volatility of 13.19% compared to CI Gold Bullion ETF (US$ Series) (VALT-U.TO) at 7.03%. This indicates that ZJG.TO's price experiences larger fluctuations and is considered to be riskier than VALT-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZJG.TO | VALT-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 7.03% | +6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 41.16% | 38.73% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.44% | 41.29% | +8.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.17% | 23.09% | +14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.19% | 22.46% | +15.73% |
Dividends
ZJG.TO vs. VALT-U.TO - Dividend Comparison
ZJG.TO's dividend yield for the trailing twelve months is around 0.13%, while VALT-U.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
VALT-U.TO CI Gold Bullion ETF (US$ Series) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZJG.TO BMO Junior Gold Index ETF | 0.13% | 0.12% | 0.68% | 0.90% | 0.83% | 0.36% |
Frequently Asked Questions
ZJG.TO and VALT-U.TO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and CI.
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