GRT-UN.TO vs. VFV.TO

Last updated Jun 5, 2026

GRT-UN.TO (Granite Real Estate Investment Trust) is a stock, while VFV.TO (Vanguard S&P 500 Index ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, GRT-UN.TO returned 14.34%/yr vs 16.15%/yr for VFV.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

GRT-UN.TO vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Granite Real Estate Investment Trust (GRT-UN.TO) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRT-UN.TO achieves a 18.76% return, which is significantly higher than VFV.TO's 12.72% return. Over the past 10 years, GRT-UN.TO has underperformed VFV.TO with an annualized return of 14.34%, while VFV.TO has yielded a comparatively higher 16.15% annualized return.

GRT-UN.TO

• 1D: 1.53%
• 1M: 3.08%
• YTD: 18.76%
• 6M: 28.20%
• 1Y: 43.81%
• 3Y*: 9.88%
• 5Y*: 8.10%
• 10Y*: 14.34%

VFV.TO

• 1D: 0.37%
• 1M: 6.75%
• YTD: 12.72%
• 6M: 10.73%
• 1Y: 30.31%
• 3Y*: 23.71%
• 5Y*: 16.92%
• 10Y*: 16.15%

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

GRT-UN.TO vs. VFV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GRT-UN.TO Granite Real Estate Investment Trust	18.76%	22.79%	-4.30%	15.18%	-31.89%	40.45%	23.02%	29.65%	14.45%	16.24%
VFV.TO Vanguard S&P 500 Index ETF	12.72%	12.18%	35.23%	23.23%	-12.58%	27.51%	15.62%	25.14%	2.94%	13.67%

Correlation

The correlation between GRT-UN.TO and VFV.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 9, 2012	0.26

The correlation between GRT-UN.TO and VFV.TO shifts across timeframes, from 0.15 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GRT-UN.TO vs. VFV.TO — Risk / Return Rank

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

GRT-UN.TO

GRT-UN.TO Risk / Return Rank: 88
GRT-UN.TO Sharpe Ratio Rank: 90
GRT-UN.TO Sortino Ratio Rank: 89
GRT-UN.TO Omega Ratio Rank: 87
GRT-UN.TO Calmar Ratio Rank: 85
GRT-UN.TO Martin Ratio Rank: 89

VFV.TO

VFV.TO Risk / Return Rank: 78
VFV.TO Sharpe Ratio Rank: 83
VFV.TO Sortino Ratio Rank: 82
VFV.TO Omega Ratio Rank: 83
VFV.TO Calmar Ratio Rank: 72
VFV.TO Martin Ratio Rank: 73

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.

GRT-UN.TO vs. VFV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Granite Real Estate Investment Trust (GRT-UN.TO) and Vanguard S&P 500 Index ETF (VFV.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.

	GRT-UN.TO	VFV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.66	-0.37
Sortino ratio: Return per unit of downside risk	3.05	3.62	-0.57
Omega ratio: Gain probability vs. loss probability	1.39	1.49	-0.10
Calmar ratio: Return relative to maximum drawdown	3.41	3.53	-0.12
Martin ratio: Return relative to average drawdown	10.95	13.47	-2.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GRT-UN.TO vs. VFV.TO - Sharpe Ratio Comparison

The current GRT-UN.TO Sharpe Ratio is 2.29, which is comparable to the VFV.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of GRT-UN.TO and VFV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GRT-UN.TO	VFV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.66	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	1.14	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.98	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.14	-0.78

Drawdowns

GRT-UN.TO vs. VFV.TO - Drawdown Comparison

The maximum GRT-UN.TO drawdown since its inception was -87.70%, which is greater than VFV.TO's maximum drawdown of -27.43%. Use the drawdown chart below to compare losses from any high point for GRT-UN.TO and VFV.TO.

Drawdown Indicators

	GRT-UN.TO	VFV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-87.70%	-27.43%	-60.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-8.62%	-4.29%
Max Drawdown (3Y) Largest decline over 3 years	-27.99%	-19.05%	-8.94%
Max Drawdown (5Y) Largest decline over 5 years	-37.82%	-22.19%	-15.63%
Max Drawdown (10Y) Largest decline over 10 years	-44.89%	-27.43%	-17.46%
Current Drawdown Current decline from peak	-0.95%	0.00%	-0.95%
Average Drawdown Average peak-to-trough decline	-16.30%	-3.35%	-12.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	2.26%	+1.75%

Volatility

GRT-UN.TO vs. VFV.TO - Volatility Comparison

Granite Real Estate Investment Trust (GRT-UN.TO) has a higher volatility of 5.91% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 3.00%. This indicates that GRT-UN.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRT-UN.TO	VFV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	3.00%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	14.77%	8.56%	+6.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.28%	11.44%	+7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.88%	14.91%	+6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.43%	16.57%	+5.86%

Dividends

GRT-UN.TO vs. VFV.TO - Dividend Comparison

GRT-UN.TO's dividend yield for the trailing twelve months is around 3.64%, more than VFV.TO's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRT-UN.TO Granite Real Estate Investment Trust	3.64%	4.17%	4.74%	4.21%	4.49%	3.03%	3.75%	4.25%	5.69%	5.63%	5.77%	6.44%
VFV.TO Vanguard S&P 500 Index ETF	0.83%	0.92%	0.99%	1.20%	1.31%	1.06%	1.33%	1.55%	1.68%	1.50%	1.66%	1.63%

Frequently Asked Questions

Can I hold both GRT-UN.TO and VFV.TO in my portfolio?

GRT-UN.TO and VFV.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.