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CGR.TO vs. VNQI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CGR.TO vs. VNQI

Last updated Jun 4, 2026

CGR.TO (iShares Global Real Estate Index ETF) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both REIT funds - CGR.TO tracks the Morningstar DM REIT NR CAD while VNQI tracks the S&P Global ex-U.S. Property Index. Both are passively managed. Over the past 10 years, CGR.TO returned 3.96%/yr vs 2.97%/yr for VNQI. A 0.63 correlation means they provide meaningful diversification when combined. CGR.TO charges 0.72%/yr vs 0.12%/yr for VNQI.

Performance

CGR.TO vs. VNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Real Estate Index ETF (CGR.TO) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, CGR.TO achieves a 7.84% return, which is significantly higher than VNQI's -1.33% return. Over the past 10 years, CGR.TO has outperformed VNQI with an annualized return of 3.96%, while VNQI has yielded a comparatively lower 2.97% annualized 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%

VNQI

1D
-1.12%
1M
-2.19%
YTD
-1.33%
6M
-2.01%
1Y
6.80%
3Y*
9.17%
5Y*
1.15%
10Y*
2.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CGR.TO vs. VNQI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CGR.TO
iShares Global Real Estate Index ETF		7.84%2.56%9.99%7.58%-21.75%28.98%-9.40%14.90%2.92%3.32%
VNQI
Vanguard Global ex-U.S. Real Estate ETF		-1.33%15.82%6.18%4.64%-17.45%4.97%-8.79%15.62%-1.76%18.82%

Correlation

The correlation between CGR.TO and VNQI is 0.69, 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

0.69

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Nov 2, 2010

0.63

The correlation between CGR.TO and VNQI has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.

CGR.TO vs. VNQI - Sectors Allocation Comparison

Sectors
CGR.TO
VNQI

Real Estate

100.0%
91.2%

Financial Services

0.0%
1.9%

Basic Materials

-

0.3%

Communication Services

-

-

Consumer Cyclical

-

1.1%

Consumer Defensive

-

0.1%

Energy

-

0.3%

Healthcare

-

0.0%

Industrials

-

0.7%

Technology

-

0.2%

Utilities

-

0.1%

Real Estate

CGR.TO
100.0%
VNQI
91.2%

Financial Services

CGR.TO
0.0%
VNQI
1.9%

Basic Materials

CGR.TO

-

VNQI
0.3%

Communication Services

CGR.TO

-

VNQI

-

Consumer Cyclical

CGR.TO

-

VNQI
1.1%

Consumer Defensive

CGR.TO

-

VNQI
0.1%

Energy

CGR.TO

-

VNQI
0.3%

Healthcare

CGR.TO

-

VNQI
0.0%

Industrials

CGR.TO

-

VNQI
0.7%

Technology

CGR.TO

-

VNQI
0.2%

Utilities

CGR.TO

-

VNQI
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Real Estate Index ETF

Vanguard Global ex-U.S. Real Estate ETF

Often compared with CGR.TO:
CGR.TO vs. XRE.TOCGR.TO vs. REETCGR.TO vs. RS.TOCGR.TO vs. VFV.TOCGR.TO vs. ^GSPCCGR.TO vs. VCRCGR.TO vs. SRU-UN.TO
Often compared with VNQI:
VNQI vs. VNQVNQI vs. REETVNQI vs. SCHHVNQI vs. HAUZVNQI vs. SCHDVNQI vs. RWXVNQI vs. RWO

Return for Risk

CGR.TO vs. VNQI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CGR.TO
CGR.TO Risk / Return Rank: 2121
Overall Rank
CGR.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
CGR.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
CGR.TO Omega Ratio Rank: 2020
Omega Ratio Rank
CGR.TO Calmar Ratio Rank: 2222
Calmar Ratio Rank
CGR.TO Martin Ratio Rank: 2424
Martin Ratio Rank
VNQI
VNQI Risk / Return Rank: 1414
Overall Rank
VNQI Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
VNQI Sortino Ratio Rank: 1414
Sortino Ratio Rank
VNQI Omega Ratio Rank: 1414
Omega Ratio Rank
VNQI Calmar Ratio Rank: 1313
Calmar Ratio Rank
VNQI Martin Ratio Rank: 1414
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.

CGR.TO vs. VNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Real Estate Index ETF (CGR.TO) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). 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.TOVNQIDifference
Sharpe ratioReturn per unit of total volatility
0.72
0.55

+0.17

Sortino ratioReturn per unit of downside risk
1.08
0.86

+0.22

Omega ratioGain probability vs. loss probability

1.14

1.11

+0.03

Calmar ratioReturn relative to maximum drawdown

0.95

0.51

+0.44

Martin ratioReturn relative to average drawdown

3.03

1.49

+1.54

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

CGR.TO vs. VNQI - Sharpe Ratio Comparison

The current CGR.TO Sharpe Ratio is 0.72, which is higher than the VNQI Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of CGR.TO and VNQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CGR.TOVNQIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.72

0.55

+0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.24

0.09

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.24

0.22

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.39

-0.11

Drawdowns

CGR.TO vs. VNQI - Drawdown Comparison

The maximum CGR.TO drawdown since its inception was -52.90%, which is greater than VNQI's maximum drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for CGR.TO and VNQI.

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Drawdown Indicators

CGR.TOVNQIDifference

Max Drawdown

Largest peak-to-trough decline

-52.90%

-32.09%

-20.81%

Max Drawdown (1Y)

Largest decline over 1 year

-9.55%

-13.47%

+3.92%

Max Drawdown (3Y)

Largest decline over 3 years

-14.40%

-13.47%

-0.93%

Max Drawdown (5Y)

Largest decline over 5 years

-28.76%

-28.98%

+0.22%

Max Drawdown (10Y)

Largest decline over 10 years

-33.71%

-32.09%

-1.62%

Current Drawdown

Current decline from peak

-2.99%

-10.63%

+7.64%

Average Drawdown

Average peak-to-trough decline

-9.98%

-8.31%

-1.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

4.58%

-1.59%

Volatility

CGR.TO vs. VNQI - Volatility Comparison

The current volatility for iShares Global Real Estate Index ETF (CGR.TO) is 3.77%, while Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a volatility of 4.46%. This indicates that CGR.TO experiences smaller price fluctuations and is considered to be less risky than VNQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CGR.TOVNQIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.77%

4.46%

-0.69%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

10.67%

-0.80%

Volatility (1Y)

Calculated over the trailing 1-year period

12.51%

12.42%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.01%

13.05%

+1.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.56%

13.57%

+2.99%

CGR.TO vs. VNQI - Expense Ratio Comparison

CGR.TO has a 0.72% expense ratio, which is higher than VNQI's 0.12% expense ratio.

Dividends

CGR.TO vs. VNQI - Dividend Comparison

CGR.TO's dividend yield for the trailing twelve months is around 2.33%, less than VNQI's 4.83% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VNQI
Vanguard Global ex-U.S. Real Estate ETF		4.83%4.70%5.16%3.74%0.57%6.48%0.93%7.58%4.62%3.86%5.18%2.86%

Frequently Asked Questions

CGR.TO and VNQI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VNQI is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VNQI is cheaper with a 0.12% expense ratio, compared with 0.72% for CGR.TO.

CGR.TO tracks Morningstar DM REIT NR CAD, while VNQI tracks S&P Global ex-U.S. Property Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.72% for CGR.TO and 0.12% for VNQI.

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