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IEFA vs. XRE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. XRE.TO

Last updated Jun 9, 2026

IEFA (iShares Core MSCI EAFE ETF) and XRE.TO (iShares S&P/TSX Capped REIT Index ETF) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while XRE.TO is a REIT fund tracking the Morningstar DM REIT NR CAD. Both are passively managed. Over the past 10 years, IEFA returned 9.37%/yr vs 3.85%/yr for XRE.TO. At a 0.36 correlation, their price movements are largely independent. IEFA charges 0.07%/yr vs 0.61%/yr for XRE.TO.

Performance

IEFA vs. XRE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and iShares S&P/TSX Capped REIT Index ETF (XRE.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, IEFA achieves a 7.49% return, which is significantly lower than XRE.TO's 8.82% return. Over the past 10 years, IEFA has outperformed XRE.TO with an annualized return of 9.37%, while XRE.TO has yielded a comparatively lower 3.85% annualized return.

IEFA

1D
0.63%
1M
-1.17%
YTD
7.49%
6M
10.04%
1Y
19.61%
3Y*
16.13%
5Y*
7.82%
10Y*
9.37%

XRE.TO

1D
-0.39%
1M
-1.34%
YTD
8.82%
6M
13.36%
1Y
10.11%
3Y*
4.08%
5Y*
-1.06%
10Y*
3.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFA vs. XRE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEFA
iShares Core MSCI EAFE ETF		7.49%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		8.82%14.09%-10.13%4.37%-22.27%32.60%-11.48%27.22%-2.48%17.27%

Correlation

The correlation between IEFA and XRE.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

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

0.46

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

0.49

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

0.39

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2012

0.36

The correlation between IEFA and XRE.TO shifts across timeframes, from 0.36 (all time) to 0.49 (5 years), reflecting how their relationship changes across market environments.

IEFA vs. XRE.TO - Sectors Allocation Comparison

Sectors
IEFA
XRE.TO

Financial Services

22.5%

-

Industrials

20.1%

-

Technology

10.8%

-

Healthcare

9.5%

-

Consumer Cyclical

8.0%

-

Basic Materials

7.0%

-

Consumer Defensive

6.6%

-

Communication Services

4.4%

-

Energy

3.8%

-

Utilities

3.6%

-

Real Estate

3.0%
100.0%

Financial Services

IEFA
22.5%
XRE.TO

-

Industrials

IEFA
20.1%
XRE.TO

-

Technology

IEFA
10.8%
XRE.TO

-

Healthcare

IEFA
9.5%
XRE.TO

-

Consumer Cyclical

IEFA
8.0%
XRE.TO

-

Basic Materials

IEFA
7.0%
XRE.TO

-

Consumer Defensive

IEFA
6.6%
XRE.TO

-

Communication Services

IEFA
4.4%
XRE.TO

-

Energy

IEFA
3.8%
XRE.TO

-

Utilities

IEFA
3.6%
XRE.TO

-

Real Estate

IEFA
3.0%
XRE.TO
100.0%

Compare stocks, funds, or ETFs

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

iShares Core MSCI EAFE ETF

iShares S&P/TSX Capped REIT Index ETF

Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS
Often compared with XRE.TO:
XRE.TO vs. ZRE.TOXRE.TO vs. VRE.TOXRE.TO vs. CGR.TOXRE.TO vs. XIC.TOXRE.TO vs. XDIV.TOXRE.TO vs. XBB.TOXRE.TO vs. VOO

Return for Risk

IEFA vs. XRE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFA
IEFA Risk / Return Rank: 4040
Overall Rank
IEFA Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4040
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4040
Omega Ratio Rank
IEFA Calmar Ratio Rank: 3838
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4343
Martin Ratio Rank
XRE.TO
XRE.TO Risk / Return Rank: 3232
Overall Rank
XRE.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XRE.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
XRE.TO Omega Ratio Rank: 2929
Omega Ratio Rank
XRE.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
XRE.TO Martin Ratio Rank: 3131
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.

IEFA vs. XRE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and iShares S&P/TSX Capped REIT Index ETF (XRE.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.

IEFAXRE.TODifference
Sharpe ratioReturn per unit of total volatility
1.30
0.81

+0.48

Sortino ratioReturn per unit of downside risk
1.88
1.24

+0.64

Omega ratioGain probability vs. loss probability

1.24

1.14

+0.10

Calmar ratioReturn relative to maximum drawdown

1.71

1.20

+0.51

Martin ratioReturn relative to average drawdown

6.52

2.93

+3.59

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

IEFA vs. XRE.TO - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.30, which is higher than the XRE.TO Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of IEFA and XRE.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.

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Sharpe Ratios by Period

IEFAXRE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.30

0.81

+0.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

-0.06

+0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.20

+0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.26

+0.24

Drawdowns

IEFA vs. XRE.TO - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, smaller than the maximum XRE.TO drawdown of -65.09%. Use the drawdown chart below to compare losses from any high point for IEFA and XRE.TO.

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Drawdown Indicators

IEFAXRE.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-65.09%

+30.31%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-8.46%

-3.04%

Max Drawdown (3Y)

Largest decline over 3 years

-13.76%

-24.64%

+10.88%

Max Drawdown (5Y)

Largest decline over 5 years

-30.41%

-37.30%

+6.89%

Max Drawdown (10Y)

Largest decline over 10 years

-34.78%

-51.15%

+16.37%

Current Drawdown

Current decline from peak

-2.44%

-13.16%

+10.72%

Average Drawdown

Average peak-to-trough decline

-6.69%

-14.37%

+7.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

3.46%

-0.44%

Volatility

IEFA vs. XRE.TO - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 4.54% compared to iShares S&P/TSX Capped REIT Index ETF (XRE.TO) at 3.40%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than XRE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFAXRE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.54%

3.40%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

12.74%

9.36%

+3.38%

Volatility (1Y)

Calculated over the trailing 1-year period

15.22%

12.49%

+2.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.55%

17.69%

-1.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.32%

19.12%

-1.80%

IEFA vs. XRE.TO - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is lower than XRE.TO's 0.61% expense ratio.

Dividends

IEFA vs. XRE.TO - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.30%, less than XRE.TO's 4.44% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.30%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		4.44%5.00%5.55%4.52%4.85%2.62%4.50%4.88%4.86%4.77%5.27%5.66%

Frequently Asked Questions

IEFA and XRE.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEFA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.61% for XRE.TO.

IEFA is categorized as Foreign Large Cap Equities, while XRE.TO is REIT. IEFA tracks MSCI EAFE IMI Index (Net), while XRE.TO tracks Morningstar DM REIT NR CAD. Their fees differ too: 0.07% for IEFA and 0.61% for XRE.TO.

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