HCRE.TO vs. BGRT.NEO

Last updated Jun 4, 2026

HCRE.TO (Global X Equal Weight Canadian REITs Index Corporate Class ETF) and BGRT.NEO (BMO Global REIT Fund Active ETF Series) are both REIT funds. HCRE.TO is passively managed, while BGRT.NEO is actively managed. Over the past year, HCRE.TO returned 13.75% vs 6.97% for BGRT.NEO. At a 0.16 correlation, their price movements are largely independent. HCRE.TO charges 0.30%/yr vs 1.01%/yr for BGRT.NEO.

Performance

HCRE.TO vs. BGRT.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.TO) and BMO Global REIT Fund Active ETF Series (BGRT.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCRE.TO achieves a 9.90% return, which is significantly higher than BGRT.NEO's 6.70% return.

HCRE.TO

• 1D: 0.38%
• 1M: 0.79%
• YTD: 9.90%
• 6M: 12.46%
• 1Y: 13.75%
• 3Y*: 9.01%
• 5Y*: 4.08%
• 10Y*: —

BGRT.NEO

• 1D: 0.00%
• 1M: -0.56%
• YTD: 6.70%
• 6M: 5.55%
• 1Y: 6.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCRE.TO vs. BGRT.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class ETF	9.90%	12.54%	3.71%	7.54%
BGRT.NEO BMO Global REIT Fund Active ETF Series	6.70%	1.51%	5.79%	8.18%

Correlation

The correlation between HCRE.TO and BGRT.NEO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023	0.16

Return for Risk

HCRE.TO vs. BGRT.NEO — Risk / Return Rank

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

HCRE.TO

HCRE.TO Risk / Return Rank: 34
HCRE.TO Sharpe Ratio Rank: 33
HCRE.TO Sortino Ratio Rank: 34
HCRE.TO Omega Ratio Rank: 33
HCRE.TO Calmar Ratio Rank: 37
HCRE.TO Martin Ratio Rank: 34

BGRT.NEO

BGRT.NEO Risk / Return Rank: 30
BGRT.NEO Sharpe Ratio Rank: 22
BGRT.NEO Sortino Ratio Rank: 19
BGRT.NEO Omega Ratio Rank: 58
BGRT.NEO Calmar Ratio Rank: 25
BGRT.NEO Martin Ratio Rank: 24

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.

HCRE.TO vs. BGRT.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.TO) and BMO Global REIT Fund Active ETF Series (BGRT.NEO). 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.

	HCRE.TO	BGRT.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.72	+0.44
Sortino ratio: Return per unit of downside risk	1.78	0.96	+0.82
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.13
Calmar ratio: Return relative to maximum drawdown	1.78	1.13	+0.64
Martin ratio: Return relative to average drawdown	4.99	3.09	+1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCRE.TO vs. BGRT.NEO - Sharpe Ratio Comparison

The current HCRE.TO Sharpe Ratio is 1.16, which is higher than the BGRT.NEO Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of HCRE.TO and BGRT.NEO, 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

	HCRE.TO	BGRT.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.72	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.54	-0.18

Drawdowns

HCRE.TO vs. BGRT.NEO - Drawdown Comparison

The maximum HCRE.TO drawdown since its inception was -43.39%, which is greater than BGRT.NEO's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for HCRE.TO and BGRT.NEO.

Drawdown Indicators

	HCRE.TO	BGRT.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-43.39%	-16.06%	-27.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-6.17%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.87%	—	—
Current Drawdown Current decline from peak	-0.62%	-2.24%	+1.62%
Average Drawdown Average peak-to-trough decline	-12.37%	-4.02%	-8.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.26%	+0.50%

Volatility

HCRE.TO vs. BGRT.NEO - Volatility Comparison

Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.TO) has a higher volatility of 3.24% compared to BMO Global REIT Fund Active ETF Series (BGRT.NEO) at 2.59%. This indicates that HCRE.TO's price experiences larger fluctuations and is considered to be riskier than BGRT.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCRE.TO	BGRT.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	2.59%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	8.12%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	9.72%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	14.17%	+3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.62%	14.17%	+7.45%

HCRE.TO vs. BGRT.NEO - Expense Ratio Comparison

HCRE.TO has a 0.30% expense ratio, which is lower than BGRT.NEO's 1.01% expense ratio.

Dividends

HCRE.TO vs. BGRT.NEO - Dividend Comparison

HCRE.TO has not paid dividends to shareholders, while BGRT.NEO's dividend yield for the trailing twelve months is around 3.94%.

Position	TTM	2025	2024	2023
BGRT.NEO BMO Global REIT Fund Active ETF Series	3.94%	4.14%	4.03%	1.86%
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCRE.TO and BGRT.NEO in my portfolio?

HCRE.TO and BGRT.NEO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HCRE.TO or BGRT.NEO?

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.

Which ETF is cheaper, HCRE.TO or BGRT.NEO?

HCRE.TO is cheaper with a 0.30% expense ratio, compared with 1.01% for BGRT.NEO.

What is the main difference between HCRE.TO and BGRT.NEO?

They also come from different issuers: Global X and BMO. Their fees differ too: 0.30% for HCRE.TO and 1.01% for BGRT.NEO.