CGRE.TO vs. MREL.TO
CGRE.TO (CI Global REIT Private Pool) and MREL.TO (Middlefield Real Estate Dividend ETF) are both REIT funds. Both are actively managed. Over the past 5 years, CGRE.TO returned 4.17%/yr vs 5.94%/yr for MREL.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
CGRE.TO vs. MREL.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CGRE.TO having a 13.75% return and MREL.TO slightly higher at 14.09%.
CGRE.TO
- 1D
- 0.87%
- 1M
- 4.58%
- YTD
- 13.75%
- 6M
- 13.80%
- 1Y
- 14.66%
- 3Y*
- 9.63%
- 5Y*
- 4.17%
- 10Y*
- —
MREL.TO
- 1D
- -0.04%
- 1M
- 4.38%
- YTD
- 14.09%
- 6M
- 14.22%
- 1Y
- 20.63%
- 3Y*
- 13.39%
- 5Y*
- 5.94%
- 10Y*
- 7.41%
CGRE.TO vs. MREL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CGRE.TO CI Global REIT Private Pool | 13.75% | 3.39% | 4.66% | 11.66% | -23.63% | 35.03% | 8.96% |
MREL.TO Middlefield Real Estate Dividend ETF | 14.09% | 13.13% | 6.12% | 7.86% | -21.63% | 36.36% | 11.85% |
Correlation
The correlation between CGRE.TO and MREL.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.37 |
The correlation between CGRE.TO and MREL.TO shifts across timeframes, from 0.24 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CGRE.TO vs. MREL.TO — Risk / Return Rank
CGRE.TO
MREL.TO
CGRE.TO vs. MREL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global REIT Private Pool (CGRE.TO) and Middlefield Real Estate Dividend ETF (MREL.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.
| CGRE.TO | MREL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 2.73 | -0.96 |
| Martin ratioReturn relative to average drawdown | 5.49 | 11.15 | -5.66 |
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Drawdowns
CGRE.TO vs. MREL.TO - Drawdown Comparison
The maximum CGRE.TO drawdown since its inception was -28.28%, smaller than the maximum MREL.TO drawdown of -35.00%. Use the drawdown chart below to compare losses from any high point for CGRE.TO and MREL.TO.
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Drawdown Indicators
| CGRE.TO | MREL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.28% | -35.00% | +6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -7.59% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.72% | -15.18% | +1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -28.28% | -29.49% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.89% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -7.13% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 1.85% | +0.83% |
Volatility
CGRE.TO vs. MREL.TO - Volatility Comparison
CI Global REIT Private Pool (CGRE.TO) has a higher volatility of 3.92% compared to Middlefield Real Estate Dividend ETF (MREL.TO) at 3.20%. This indicates that CGRE.TO's price experiences larger fluctuations and is considered to be riskier than MREL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGRE.TO | MREL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 3.20% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 9.42% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 12.90% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 15.23% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.40% | 18.64% | -4.24% |
Dividends
CGRE.TO vs. MREL.TO - Dividend Comparison
CGRE.TO's dividend yield for the trailing twelve months is around 4.46%, less than MREL.TO's 6.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGRE.TO CI Global REIT Private Pool | 4.46% | 4.95% | 4.88% | 4.86% | 5.16% | 3.77% | 2.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MREL.TO Middlefield Real Estate Dividend ETF | 6.49% | 7.16% | 7.53% | 7.42% | 7.42% | 5.43% | 6.97% | 6.06% | 6.29% | 6.27% | 6.33% | 6.40% |
Frequently Asked Questions
CGRE.TO and MREL.TO have a correlation of 0.24, 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: CI and Middlefield.
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