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HGR.TO vs. VNQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HGR.TO vs. VNQ

Last updated Jun 4, 2026

HGR.TO (Harvest Global REIT Leaders Income ETF) and VNQ (Vanguard Real Estate ETF) are both REIT funds. HGR.TO is actively managed, while VNQ is passively managed. Over the past 5 years, HGR.TO returned -2.51%/yr vs 5.10%/yr for VNQ. A 0.54 correlation means they provide meaningful diversification when combined. HGR.TO charges 0.85%/yr vs 0.13%/yr for VNQ.

Performance

HGR.TO vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Global REIT Leaders Income ETF (HGR.TO) and Vanguard Real Estate ETF (VNQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, HGR.TO achieves a 5.14% return, which is significantly lower than VNQ's 9.20% return.

HGR.TO

1D
-0.56%
1M
0.28%
YTD
5.14%
6M
4.47%
1Y
1.96%
3Y*
4.60%
5Y*
-2.51%
10Y*
—

VNQ

1D
0.29%
1M
0.87%
YTD
9.20%
6M
6.34%
1Y
11.39%
3Y*
10.42%
5Y*
5.10%
10Y*
5.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HGR.TO vs. VNQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HGR.TO
Harvest Global REIT Leaders Income ETF		5.14%-0.91%2.46%4.01%-31.59%24.87%-8.27%22.05%-5.71%3.95%
VNQ
Vanguard Real Estate ETF		9.20%-1.49%13.82%9.39%-21.00%39.27%-6.22%22.57%1.94%-0.74%

Correlation

The correlation between HGR.TO and VNQ is 0.72, 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

0.72

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

0.70

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

0.63

Correlation (All Time)
Calculated using the full available price history since Jul 3, 2017

0.54

The correlation between HGR.TO and VNQ shifts across timeframes, from 0.54 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.

HGR.TO vs. VNQ - Sectors Allocation Comparison

Sectors
HGR.TO
VNQ

Real Estate

100.0%
97.3%

Basic Materials

-

1.1%

Communication Services

-

0.6%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

0.1%

Financial Services

-

0.1%

Healthcare

-

-

Industrials

-

0.0%

Technology

-

0.3%

Utilities

-

-

Real Estate

HGR.TO
100.0%
VNQ
97.3%

Basic Materials

HGR.TO

-

VNQ
1.1%

Communication Services

HGR.TO

-

VNQ
0.6%

Consumer Cyclical

HGR.TO

-

VNQ

-

Consumer Defensive

HGR.TO

-

VNQ

-

Energy

HGR.TO

-

VNQ
0.1%

Financial Services

HGR.TO

-

VNQ
0.1%

Healthcare

HGR.TO

-

VNQ

-

Industrials

HGR.TO

-

VNQ
0.0%

Technology

HGR.TO

-

VNQ
0.3%

Utilities

HGR.TO

-

VNQ

-

Compare stocks, funds, or ETFs

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

Harvest Global REIT Leaders Income ETF

Vanguard Real Estate ETF

Often compared with HGR.TO:
HGR.TO vs. RIT.TOHGR.TO vs. RMAX.TOHGR.TO vs. HCRE.TOHGR.TO vs. XEF.TOHGR.TO vs. MREL.TOHGR.TO vs. XRE.TOHGR.TO vs. CGR.TO
Often compared with VNQ:
VNQ vs. SCHHVNQ vs. VOOVNQ vs. SPYVNQ vs. XLREVNQ vs. VNQIVNQ vs. SCHDVNQ vs. REET

Return for Risk

HGR.TO vs. VNQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HGR.TO
HGR.TO Risk / Return Rank: 1111
Overall Rank
HGR.TO Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
HGR.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
HGR.TO Omega Ratio Rank: 1010
Omega Ratio Rank
HGR.TO Calmar Ratio Rank: 1212
Calmar Ratio Rank
HGR.TO Martin Ratio Rank: 1212
Martin Ratio Rank
VNQ
VNQ Risk / Return Rank: 2323
Overall Rank
VNQ Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
VNQ Sortino Ratio Rank: 2121
Sortino Ratio Rank
VNQ Omega Ratio Rank: 2020
Omega Ratio Rank
VNQ Calmar Ratio Rank: 2525
Calmar Ratio Rank
VNQ Martin Ratio Rank: 2727
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.

HGR.TO vs. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Global REIT Leaders Income ETF (HGR.TO) and Vanguard Real Estate ETF (VNQ). 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.

HGR.TOVNQDifference
Sharpe ratioReturn per unit of total volatility
0.15
0.87

-0.72

Sortino ratioReturn per unit of downside risk
0.31
1.24

-0.94

Omega ratioGain probability vs. loss probability

1.04

1.16

-0.12

Calmar ratioReturn relative to maximum drawdown

0.24

1.59

-1.35

Martin ratioReturn relative to average drawdown

0.60

4.12

-3.52

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

HGR.TO vs. VNQ - Sharpe Ratio Comparison

The current HGR.TO Sharpe Ratio is 0.15, which is lower than the VNQ Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of HGR.TO and VNQ, 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

HGR.TOVNQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.15

0.87

-0.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.15

0.30

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.31

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.02

0.67

-0.65

Drawdowns

HGR.TO vs. VNQ - Drawdown Comparison

The maximum HGR.TO drawdown since its inception was -41.33%, which is greater than VNQ's maximum drawdown of -36.98%. Use the drawdown chart below to compare losses from any high point for HGR.TO and VNQ.

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Drawdown Indicators

HGR.TOVNQDifference

Max Drawdown

Largest peak-to-trough decline

-41.33%

-36.98%

-4.35%

Max Drawdown (1Y)

Largest decline over 1 year

-8.05%

-7.18%

-0.87%

Max Drawdown (3Y)

Largest decline over 3 years

-16.37%

-16.07%

-0.30%

Max Drawdown (5Y)

Largest decline over 5 years

-41.33%

-28.84%

-12.49%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.98%

—

Current Drawdown

Current decline from peak

-24.33%

-2.30%

-22.03%

Average Drawdown

Average peak-to-trough decline

-16.82%

-7.35%

-9.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

2.77%

+0.49%

Volatility

HGR.TO vs. VNQ - Volatility Comparison

Harvest Global REIT Leaders Income ETF (HGR.TO) and Vanguard Real Estate ETF (VNQ) have volatilities of 3.85% and 3.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HGR.TOVNQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

3.80%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

10.35%

9.57%

+0.78%

Volatility (1Y)

Calculated over the trailing 1-year period

13.43%

13.14%

+0.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.82%

16.86%

-0.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.31%

19.04%

-0.73%

HGR.TO vs. VNQ - Expense Ratio Comparison

HGR.TO has a 0.85% expense ratio, which is higher than VNQ's 0.13% expense ratio.

Dividends

HGR.TO vs. VNQ - Dividend Comparison

HGR.TO's dividend yield for the trailing twelve months is around 10.27%, more than VNQ's 3.69% yield.

PositionTTM20252024202320222021202020192018201720162015
HGR.TO
Harvest Global REIT Leaders Income ETF		10.27%10.35%9.32%8.72%8.30%5.28%6.22%5.36%6.19%2.75%0.00%0.00%
VNQ
Vanguard Real Estate ETF		3.69%3.92%3.85%3.95%3.91%2.56%3.93%3.39%4.74%4.23%4.82%3.92%

Frequently Asked Questions

HGR.TO and VNQ have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VNQ is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VNQ is cheaper with a 0.13% expense ratio, compared with 0.85% for HGR.TO.

They also come from different issuers: Harvest and Vanguard. Their fees differ too: 0.85% for HGR.TO and 0.13% for VNQ.

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