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SRU-UN.TO vs. XESG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SRU-UN.TO vs. XESG.TO

Last updated Jun 5, 2026

SRU-UN.TO (SmartCentres Real Estate Investment Trust) is a stock, while XESG.TO (iShares ESG Aware MSCI Canada Index ETF) is Canada Equities fund tracking the Morningstar Canada GR CAD. Over the past 5 years, SRU-UN.TO returned 7.06%/yr vs 12.68%/yr for XESG.TO. At a 0.50 correlation, their price movements are largely independent.

Performance

SRU-UN.TO vs. XESG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in SmartCentres Real Estate Investment Trust (SRU-UN.TO) and iShares ESG Aware MSCI Canada Index ETF (XESG.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SRU-UN.TO achieves a 15.56% return, which is significantly higher than XESG.TO's 11.62% return.

SRU-UN.TO

1D
0.38%
1M
2.16%
YTD
15.56%
6M
18.13%
1Y
20.90%
3Y*
12.34%
5Y*
7.06%
10Y*
4.73%

XESG.TO

1D
1.16%
1M
4.57%
YTD
11.62%
6M
9.33%
1Y
31.21%
3Y*
21.50%
5Y*
12.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SRU-UN.TO vs. XESG.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SRU-UN.TO
SmartCentres Real Estate Investment Trust		15.56%13.10%6.13%0.16%-11.27%48.64%-19.65%-5.94%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		11.62%26.25%20.05%10.13%-7.77%22.91%4.80%15.28%

Correlation

The correlation between SRU-UN.TO and XESG.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.48

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

0.53

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2019

0.50

The correlation between SRU-UN.TO and XESG.TO shifts across timeframes, from 0.39 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

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SmartCentres Real Estate Investment Trust

iShares ESG Aware MSCI Canada Index ETF

Often compared with SRU-UN.TO:
SRU-UN.TO vs. REI-UN.TOSRU-UN.TO vs. CRT-UN.TOSRU-UN.TO vs. FCR-UN.TOSRU-UN.TO vs. CHP-UN.TOSRU-UN.TO vs. CAR-UN.TOSRU-UN.TO vs. XEQT.TOSRU-UN.TO vs. ZWB.TO
Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. SPYXESG.TO vs. XIU.TOXESG.TO vs. GEQT.TO

Return for Risk

SRU-UN.TO vs. XESG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SRU-UN.TO
SRU-UN.TO Risk / Return Rank: 8484
Overall Rank
SRU-UN.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
SRU-UN.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
SRU-UN.TO Omega Ratio Rank: 8181
Omega Ratio Rank
SRU-UN.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
SRU-UN.TO Martin Ratio Rank: 8686
Martin Ratio Rank
XESG.TO
XESG.TO Risk / Return Rank: 7373
Overall Rank
XESG.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 7575
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 7979
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.

SRU-UN.TO vs. XESG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartCentres Real Estate Investment Trust (SRU-UN.TO) and iShares ESG Aware MSCI Canada Index ETF (XESG.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.

SRU-UN.TOXESG.TODifference
Sharpe ratioReturn per unit of total volatility
1.86
2.38

-0.52

Sortino ratioReturn per unit of downside risk
2.63
3.02

-0.39

Omega ratioGain probability vs. loss probability

1.31

1.44

-0.13

Calmar ratioReturn relative to maximum drawdown

3.29

3.38

-0.09

Martin ratioReturn relative to average drawdown

9.46

15.02

-5.57

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

SRU-UN.TO vs. XESG.TO - Sharpe Ratio Comparison

The current SRU-UN.TO Sharpe Ratio is 1.86, which is comparable to the XESG.TO Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SRU-UN.TO and XESG.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

SRU-UN.TOXESG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.86

2.38

-0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.94

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.22

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.83

-0.48

Drawdowns

SRU-UN.TO vs. XESG.TO - Drawdown Comparison

The maximum SRU-UN.TO drawdown since its inception was -68.25%, which is greater than XESG.TO's maximum drawdown of -37.36%. Use the drawdown chart below to compare losses from any high point for SRU-UN.TO and XESG.TO.

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Drawdown Indicators

SRU-UN.TOXESG.TODifference

Max Drawdown

Largest peak-to-trough decline

-68.25%

-37.36%

-30.89%

Max Drawdown (1Y)

Largest decline over 1 year

-6.39%

-9.28%

+2.89%

Max Drawdown (3Y)

Largest decline over 3 years

-14.44%

-14.18%

-0.26%

Max Drawdown (5Y)

Largest decline over 5 years

-28.89%

-17.91%

-10.98%

Max Drawdown (10Y)

Largest decline over 10 years

-54.78%

—

—

Current Drawdown

Current decline from peak

-0.40%

0.00%

-0.40%

Average Drawdown

Average peak-to-trough decline

-10.98%

-4.55%

-6.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.22%

2.08%

+0.14%

Volatility

SRU-UN.TO vs. XESG.TO - Volatility Comparison

The current volatility for SmartCentres Real Estate Investment Trust (SRU-UN.TO) is 3.08%, while iShares ESG Aware MSCI Canada Index ETF (XESG.TO) has a volatility of 3.49%. This indicates that SRU-UN.TO experiences smaller price fluctuations and is considered to be less risky than XESG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SRU-UN.TOXESG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.08%

3.49%

-0.41%

Volatility (6M)

Calculated over the trailing 6-month period

8.12%

10.99%

-2.87%

Volatility (1Y)

Calculated over the trailing 1-year period

11.30%

13.18%

-1.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.21%

13.62%

+2.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.54%

16.83%

+4.71%

Dividends

SRU-UN.TO vs. XESG.TO - Dividend Comparison

SRU-UN.TO's dividend yield for the trailing twelve months is around 6.39%, more than XESG.TO's 1.94% yield.

PositionTTM20252024202320222021202020192018201720162015
SRU-UN.TO
SmartCentres Real Estate Investment Trust		6.39%7.18%7.56%7.42%6.90%5.74%8.01%5.81%5.72%5.55%5.17%5.34%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.94%2.13%2.45%2.74%2.63%1.88%2.15%1.05%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SRU-UN.TO and XESG.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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