RIRA.TO vs. TGRE.TO

Last updated Jul 25, 2026

RIRA.TO (Russell Investments Real Assets) and TGRE.TO (TD Active Global Real Estate Equity ETF) are both exchange-traded funds - RIRA.TO is a Infrastructure Equities fund actively managed by Russell Investments Canada Limited, while TGRE.TO is a REIT fund actively managed by TD. Both are actively managed. Over the past 5 years, RIRA.TO returned 7.83%/yr vs 2.85%/yr for TGRE.TO. At a 0.38 correlation, their price movements are largely independent.

Performance

RIRA.TO vs. TGRE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Russell Investments Real Assets (RIRA.TO) and TD Active Global Real Estate Equity ETF (TGRE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIRA.TO achieves a 18.72% return, which is significantly higher than TGRE.TO's 13.94% return.

RIRA.TO

• 1D: 0.46%
• 1M: 2.78%
• 6M: 13.99%
• YTD: 18.72%
• 1Y: 26.17%
• 3Y*: 11.94%
• 5Y*: 7.83%
• 10Y*: —
• ALL TIME*: 6.36%

TGRE.TO

• 1D: 1.38%
• 1M: 1.34%
• 6M: 10.88%
• YTD: 13.94%
• 1Y: 12.72%
• 3Y*: 11.38%
• 5Y*: 2.85%
• 10Y*: —
• ALL TIME*: 5.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RIRA.TO Russell Investments Real Assets	CA$30.02K	CA$31.90K	CA$47.40K
TGRE.TO TD Active Global Real Estate Equity ETF	CA$9.87K	CA$33.69K	CA$31.64K

RIRA.TO vs. TGRE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RIRA.TO Russell Investments Real Assets	18.72%	10.46%	8.03%	4.50%	-8.47%	17.83%	-6.50%
TGRE.TO TD Active Global Real Estate Equity ETF	13.94%	0.39%	14.77%	8.69%	-27.34%	32.66%	-1.98%

Correlation

The correlation between RIRA.TO and TGRE.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 23, 2020	0.38

Return for Risk

RIRA.TO vs. TGRE.TO — Risk / Return Rank

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

RIRA.TO

RIRA.TO Risk / Return Rank: 95
RIRA.TO Sharpe Ratio Rank: 95
RIRA.TO Sortino Ratio Rank: 95
RIRA.TO Omega Ratio Rank: 95
RIRA.TO Calmar Ratio Rank: 96
RIRA.TO Martin Ratio Rank: 95

TGRE.TO

TGRE.TO Risk / Return Rank: 38
TGRE.TO Sharpe Ratio Rank: 37
TGRE.TO Sortino Ratio Rank: 36
TGRE.TO Omega Ratio Rank: 35
TGRE.TO Calmar Ratio Rank: 43
TGRE.TO Martin Ratio Rank: 38

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.

RIRA.TO vs. TGRE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Real Assets (RIRA.TO) and TD Active Global Real Estate Equity ETF (TGRE.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RIRA.TO	TGRE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.88	0.94	+1.94
Sortino ratio: Return per unit of downside risk	4.03	1.36	+2.67
Omega ratio: Gain probability vs. loss probability	1.53	1.17	+0.36
Calmar ratio: Return relative to maximum drawdown	5.98	1.52	+4.45
Martin ratio: Return relative to average drawdown	21.53	3.99	+17.55

RIRA.TO vs. TGRE.TO - Sharpe Ratio Comparison

The current RIRA.TO Sharpe Ratio is 2.88, which is higher than the TGRE.TO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of RIRA.TO and TGRE.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.

Drawdowns

RIRA.TO vs. TGRE.TO - Drawdown Comparison

The maximum RIRA.TO drawdown since its inception was -25.82%, smaller than the maximum TGRE.TO drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for RIRA.TO and TGRE.TO.

Drawdown Indicators

	RIRA.TO	TGRE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.82%	-33.49%	+7.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.40%	-8.40%	+4.00%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	-12.62%	+0.57%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-33.49%	+16.93%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.12%	-12.72%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	3.20%	-1.98%

Volatility

RIRA.TO vs. TGRE.TO - Volatility Comparison

The current volatility for Russell Investments Real Assets (RIRA.TO) is 2.03%, while TD Active Global Real Estate Equity ETF (TGRE.TO) has a volatility of 3.84%. This indicates that RIRA.TO experiences smaller price fluctuations and is considered to be less risky than TGRE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIRA.TO	TGRE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	3.84%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	10.49%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	9.12%	13.59%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	15.26%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	17.35%	-3.52%

Dividends

RIRA.TO vs. TGRE.TO - Dividend Comparison

RIRA.TO's dividend yield for the trailing twelve months is around 3.78%, less than TGRE.TO's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RIRA.TO Russell Investments Real Assets	3.78%	4.27%	4.31%	6.16%	6.34%	3.95%	4.58%	0.00%
TGRE.TO TD Active Global Real Estate Equity ETF	4.69%	5.21%	4.50%	4.93%	5.00%	1.92%	2.04%	0.17%

Frequently Asked Questions

Can I hold both RIRA.TO and TGRE.TO in my portfolio?

RIRA.TO and TGRE.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between RIRA.TO and TGRE.TO?

RIRA.TO is categorized as Infrastructure Equities, while TGRE.TO is REIT. They also come from different issuers: Russell Investments Canada Limited and TD.