IIP-UN.TO vs. PSA

Last updated Jun 4, 2026

IIP-UN.TO (InterRent Real Estate Investment Trust) and PSA (Public Storage) are both stocks. Both are in the Real Estate sector — IIP-UN.TO in REIT - Residential, PSA in REIT - Industrial. Over the past 10 years, IIP-UN.TO returned 7.78%/yr vs 6.40%/yr for PSA. At a 0.18 correlation, their price movements are largely independent.

Performance

IIP-UN.TO vs. PSA - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in InterRent Real Estate Investment Trust (IIP-UN.TO) and Public Storage (PSA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IIP-UN.TO achieves a -1.74% return, which is significantly lower than PSA's 19.05% return. Over the past 10 years, IIP-UN.TO has outperformed PSA with an annualized return of 7.78%, while PSA has yielded a comparatively lower 6.40% annualized return.

IIP-UN.TO

• 1D: -0.78%
• 1M: -2.27%
• YTD: -1.74%
• 6M: -1.57%
• 1Y: -3.10%
• 3Y*: 1.55%
• 5Y*: -1.17%
• 10Y*: 7.78%

PSA

• 1D: 1.36%
• 1M: 3.11%
• YTD: 19.05%
• 6M: 10.99%
• 1Y: 5.44%
• 3Y*: 7.02%
• 5Y*: 8.38%
• 10Y*: 6.40%

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

IIP-UN.TO vs. PSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIP-UN.TO InterRent Real Estate Investment Trust	-1.74%	34.25%	-20.84%	6.33%	-24.09%	29.06%	-10.48%	22.25%	46.53%	26.20%
PSA Public Storage	19.05%	-13.83%	10.86%	11.10%	-14.51%	65.12%	10.79%	3.61%	9.16%	-9.08%

Correlation

The correlation between IIP-UN.TO and PSA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009	0.18

The correlation between IIP-UN.TO and PSA shifts across timeframes, from 0.11 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap IIP-UN.TO : CA$1.79B PSA : $53.12B
EPS IIP-UN.TO : CA$0.03 PSA : $10.84
PE Ratio IIP-UN.TO : 385.90 PSA : 27.87
PS Ratio IIP-UN.TO : 7.24 PSA : 10.93
PB Ratio IIP-UN.TO : 0.79 PSA : 5.76
Total Revenue (TTM) IIP-UN.TO : CA$247.25M PSA : $4.86B
Gross Profit (TTM) IIP-UN.TO : CA$169.56M PSA : $2.95B
EBITDA (TTM) IIP-UN.TO : CA$67.56M PSA : $3.38B

Return for Risk

IIP-UN.TO vs. PSA — Risk / Return Rank

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

IIP-UN.TO

IIP-UN.TO Risk / Return Rank: 8
IIP-UN.TO Sharpe Ratio Rank: 8
IIP-UN.TO Sortino Ratio Rank: 9
IIP-UN.TO Omega Ratio Rank: 11
IIP-UN.TO Calmar Ratio Rank: 12
IIP-UN.TO Martin Ratio Rank: 0

PSA

PSA Risk / Return Rank: 43
PSA Sharpe Ratio Rank: 46
PSA Sortino Ratio Rank: 39
PSA Omega Ratio Rank: 38
PSA Calmar Ratio Rank: 46
PSA Martin Ratio Rank: 46

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.

IIP-UN.TO vs. PSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InterRent Real Estate Investment Trust (IIP-UN.TO) and Public Storage (PSA). 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.

	IIP-UN.TO	PSA	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	0.23	-1.07
Sortino ratio: Return per unit of downside risk	-1.18	0.48	-1.66
Omega ratio: Gain probability vs. loss probability	0.86	1.06	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.78	0.28	-1.06
Martin ratio: Return relative to average drawdown	-2.42	0.63	-3.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIP-UN.TO vs. PSA - Sharpe Ratio Comparison

The current IIP-UN.TO Sharpe Ratio is -0.84, which is lower than the PSA Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of IIP-UN.TO and PSA, 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

	IIP-UN.TO	PSA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	0.23	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	0.37	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.28	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.70	-0.61

Drawdowns

IIP-UN.TO vs. PSA - Drawdown Comparison

The maximum IIP-UN.TO drawdown since its inception was -79.60%, which is greater than PSA's maximum drawdown of -33.23%. Use the drawdown chart below to compare losses from any high point for IIP-UN.TO and PSA.

Drawdown Indicators

	IIP-UN.TO	PSA	Difference
Max Drawdown Largest peak-to-trough decline	-79.60%	-33.23%	-46.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-18.05%	+14.05%
Max Drawdown (3Y) Largest decline over 3 years	-30.80%	-24.49%	-6.31%
Max Drawdown (5Y) Largest decline over 5 years	-42.92%	-31.46%	-11.46%
Max Drawdown (10Y) Largest decline over 10 years	-42.92%	-32.08%	-10.84%
Current Drawdown Current decline from peak	-21.04%	-9.77%	-11.27%
Average Drawdown Average peak-to-trough decline	-27.47%	-10.33%	-17.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	8.13%	-6.85%

Volatility

IIP-UN.TO vs. PSA - Volatility Comparison

The current volatility for InterRent Real Estate Investment Trust (IIP-UN.TO) is 1.68%, while Public Storage (PSA) has a volatility of 7.45%. This indicates that IIP-UN.TO experiences smaller price fluctuations and is considered to be less risky than PSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIP-UN.TO	PSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	7.45%	-5.77%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	17.70%	-14.89%
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	22.33%	-18.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	22.71%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	22.89%	-0.49%

Dividends

IIP-UN.TO vs. PSA - Dividend Comparison

IIP-UN.TO's dividend yield for the trailing twelve months is around 3.10%, less than PSA's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIP-UN.TO InterRent Real Estate Investment Trust	3.10%	3.01%	3.76%	2.74%	2.70%	1.90%	2.28%	1.88%	2.09%	2.71%	3.12%	3.38%
PSA Public Storage	3.97%	4.62%	4.01%	3.93%	7.55%	2.14%	3.46%	3.76%	3.95%	3.83%	3.27%	2.62%

Financials

IIP-UN.TO vs. PSA - Profitability Comparison

The chart below illustrates the profitability comparison between InterRent Real Estate Investment Trust and Public Storage over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

IIP-UN.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, InterRent Real Estate Investment Trust reported a gross profit of 38.58M and revenue of 60.89M. Therefore, the gross margin over that period was 63.4%.

PSA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Public Storage reported a gross profit of 877.80M and revenue of 1.22B. Therefore, the gross margin over that period was 72.1%.

IIP-UN.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, InterRent Real Estate Investment Trust reported an operating income of 18.73M and revenue of 60.89M, resulting in an operating margin of 30.8%.

PSA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Public Storage reported an operating income of 474.28M and revenue of 1.22B, resulting in an operating margin of 39.0%.

IIP-UN.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, InterRent Real Estate Investment Trust reported a net income of -4.05M and revenue of 60.89M, resulting in a net margin of -6.6%.

PSA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Public Storage reported a net income of 529.38M and revenue of 1.22B, resulting in a net margin of 43.5%.

Frequently Asked Questions

Can I hold both IIP-UN.TO and PSA in my portfolio?

IIP-UN.TO and PSA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.