CGR.TO vs. HCRE.TO
CGR.TO (iShares Global Real Estate Index ETF) and HCRE.TO (Global X Equal Weight Canadian REITs Index Corporate Class ETF) are both REIT funds - CGR.TO tracks the Morningstar DM REIT NR CAD while HCRE.TO tracks the Solactive Equal Weight Canada REIT Index (Total Return). Both are passively managed. Over the past 5 years, CGR.TO returned 3.60%/yr vs 4.08%/yr for HCRE.TO. At a 0.44 correlation, their price movements are largely independent. CGR.TO charges 0.72%/yr vs 0.30%/yr for HCRE.TO.
Performance
CGR.TO vs. HCRE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGR.TO achieves a 7.84% return, which is significantly lower than HCRE.TO's 9.90% return.
CGR.TO
- 1D
- -0.12%
- 1M
- -0.61%
- YTD
- 7.84%
- 6M
- 6.09%
- 1Y
- 9.02%
- 3Y*
- 9.97%
- 5Y*
- 3.60%
- 10Y*
- 3.96%
HCRE.TO
- 1D
- 0.38%
- 1M
- 0.79%
- YTD
- 9.90%
- 6M
- 12.46%
- 1Y
- 13.75%
- 3Y*
- 9.01%
- 5Y*
- 4.08%
- 10Y*
- —
CGR.TO vs. HCRE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CGR.TO iShares Global Real Estate Index ETF | 7.84% | 2.56% | 9.99% | 7.58% | -21.75% | 28.98% | -9.40% | 10.82% |
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class ETF | 9.90% | 12.54% | 3.71% | 0.93% | -17.12% | 33.69% | -6.72% | 18.00% |
Correlation
The correlation between CGR.TO and HCRE.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2019 | 0.44 |
The correlation between CGR.TO and HCRE.TO shifts across timeframes, from 0.30 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
CGR.TO vs. HCRE.TO - Sectors Allocation Comparison
Sectors
CGR.TO
HCRE.TO
Real Estate
Financial Services
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Basic Materials
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-
Communication Services
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-
Consumer Cyclical
-
-
Consumer Defensive
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-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Technology
-
-
Utilities
-
-
Real Estate
CGR.TO
HCRE.TO
Financial Services
CGR.TO
HCRE.TO
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Basic Materials
CGR.TO
-
HCRE.TO
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Communication Services
CGR.TO
-
HCRE.TO
-
Consumer Cyclical
CGR.TO
-
HCRE.TO
-
Consumer Defensive
CGR.TO
-
HCRE.TO
-
Energy
CGR.TO
-
HCRE.TO
-
Healthcare
CGR.TO
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HCRE.TO
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Industrials
CGR.TO
-
HCRE.TO
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Technology
CGR.TO
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HCRE.TO
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Utilities
CGR.TO
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HCRE.TO
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Return for Risk
CGR.TO vs. HCRE.TO — Risk / Return Rank
CGR.TO
HCRE.TO
CGR.TO vs. HCRE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Real Estate Index ETF (CGR.TO) and Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.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.
| CGR.TO | HCRE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.21 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.78 | -0.83 |
| Martin ratioReturn relative to average drawdown | 3.03 | 4.99 | -1.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CGR.TO | HCRE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.16 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.27 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.36 | -0.08 |
Drawdowns
CGR.TO vs. HCRE.TO - Drawdown Comparison
The maximum CGR.TO drawdown since its inception was -52.90%, which is greater than HCRE.TO's maximum drawdown of -43.39%. Use the drawdown chart below to compare losses from any high point for CGR.TO and HCRE.TO.
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Drawdown Indicators
| CGR.TO | HCRE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.90% | -43.39% | -9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -7.76% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -18.85% | +4.45% |
Max Drawdown (5Y)Largest decline over 5 years | -28.76% | -32.87% | +4.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.71% | — | — |
Current DrawdownCurrent decline from peak | -2.99% | -0.62% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -9.98% | -12.37% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.76% | +0.23% |
Volatility
CGR.TO vs. HCRE.TO - Volatility Comparison
iShares Global Real Estate Index ETF (CGR.TO) has a higher volatility of 3.77% compared to Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.TO) at 3.24%. This indicates that CGR.TO's price experiences larger fluctuations and is considered to be riskier than HCRE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGR.TO | HCRE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 3.24% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 9.21% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 11.95% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.01% | 17.74% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 21.62% | -5.06% |
CGR.TO vs. HCRE.TO - Expense Ratio Comparison
CGR.TO has a 0.72% expense ratio, which is higher than HCRE.TO's 0.30% expense ratio.
Dividends
CGR.TO vs. HCRE.TO - Dividend Comparison
CGR.TO's dividend yield for the trailing twelve months is around 2.33%, while HCRE.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGR.TO iShares Global Real Estate Index ETF | 2.33% | 2.51% | 2.52% | 2.59% | 2.40% | 1.70% | 2.22% | 2.10% | 2.54% | 4.25% | 2.83% | 2.97% |
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class 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% |
Frequently Asked Questions
CGR.TO and HCRE.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HCRE.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HCRE.TO is cheaper with a 0.30% expense ratio, compared with 0.72% for CGR.TO.
CGR.TO tracks Morningstar DM REIT NR CAD, while HCRE.TO tracks Solactive Equal Weight Canada REIT Index (Total Return). They also come from different issuers: iShares and Global X. Their fees differ too: 0.72% for CGR.TO and 0.30% for HCRE.TO.
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