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TGRE.TO vs. VRE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TGRE.TO vs. VRE.TO

Last updated Jul 16, 2026
Documentation

TGRE.TO (TD Active Global Real Estate Equity ETF) and VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) are both REIT funds. TGRE.TO is actively managed, while VRE.TO is passively managed. Over the past 5 years, TGRE.TO returned 2.56%/yr vs 1.39%/yr for VRE.TO. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

TGRE.TO vs. VRE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active Global Real Estate Equity ETF (TGRE.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.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, TGRE.TO achieves a 11.82% return, which is significantly higher than VRE.TO's 5.92% return.

TGRE.TO

1D
0.51%
1M
0.97%
6M
7.74%
YTD
11.82%
1Y
13.18%
3Y*
10.96%
5Y*
2.56%
10Y*
—

VRE.TO

1D
0.39%
1M
2.67%
6M
1.44%
YTD
5.92%
1Y
5.38%
3Y*
6.86%
5Y*
1.39%
10Y*
4.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
TGRE.TO
TD Active Global Real Estate Equity ETF		11.82%0.39%14.77%8.69%-27.34%32.66%2.37%-0.70%
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		5.92%4.62%7.38%9.26%-22.66%35.56%-12.25%-0.76%

Correlation

The correlation between TGRE.TO and VRE.TO is 0.50, 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

0.50

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

0.49

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

0.54

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2019

0.51

The correlation between TGRE.TO and VRE.TO has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

TD Active Global Real Estate Equity ETF

Vanguard FTSE Canadian Capped REIT Index ETF

Often compared with VRE.TO:
VRE.TO vs. XRE.TOVRE.TO vs. ZRE.TOVRE.TO vs. VDY.TOVRE.TO vs. VCN.TOVRE.TO vs. VFV.TOVRE.TO vs. XEI.TOVRE.TO vs. VCE.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TGRE.TO
TGRE.TO Risk / Return Rank: 3232
Overall Rank
TGRE.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
TGRE.TO Sortino Ratio Rank: 3131
Sortino Ratio Rank
TGRE.TO Omega Ratio Rank: 2929
Omega Ratio Rank
TGRE.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
TGRE.TO Martin Ratio Rank: 3434
Martin Ratio Rank
VRE.TO
VRE.TO Risk / Return Rank: 1515
Overall Rank
VRE.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
VRE.TO Sortino Ratio Rank: 1616
Sortino Ratio Rank
VRE.TO Omega Ratio Rank: 1515
Omega Ratio Rank
VRE.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
VRE.TO Martin Ratio Rank: 1414
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.

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

This table presents a comparison of risk-adjusted performance metrics for TD Active Global Real Estate Equity ETF (TGRE.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.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.

TGRE.TOVRE.TODifference
Sharpe ratioReturn per unit of total volatility
0.98
0.41

+0.57

Sortino ratioReturn per unit of downside risk
1.41
0.67

+0.74

Omega ratioGain probability vs. loss probability

1.17

1.08

+0.09

Calmar ratioReturn relative to maximum drawdown

1.58

0.37

+1.20

Martin ratioReturn relative to average drawdown

4.13

0.78

+3.36

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

The current TGRE.TO Sharpe Ratio is 0.98, which is higher than the VRE.TO Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of TGRE.TO and VRE.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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Drawdowns

TGRE.TO vs. VRE.TO - Drawdown Comparison

The maximum TGRE.TO drawdown since its inception was -33.49%, smaller than the maximum VRE.TO drawdown of -48.06%. Use the drawdown chart below to compare losses from any high point for TGRE.TO and VRE.TO.

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Drawdown Indicators

TGRE.TOVRE.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.49%

-48.06%

+14.57%

Max Drawdown (1Y)

Largest decline over 1 year

-8.40%

-14.48%

+6.08%

Max Drawdown (3Y)

Largest decline over 3 years

-12.62%

-18.42%

+5.80%

Max Drawdown (5Y)

Largest decline over 5 years

-33.49%

-29.85%

-3.64%

Max Drawdown (10Y)

Largest decline over 10 years

—

-48.06%

—

Current Drawdown

Current decline from peak

-1.17%

-3.26%

+2.09%

Average Drawdown

Average peak-to-trough decline

-12.77%

-8.22%

-4.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

6.95%

-3.75%

Volatility

TGRE.TO vs. VRE.TO - Volatility Comparison

TD Active Global Real Estate Equity ETF (TGRE.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) have volatilities of 3.92% and 3.83%, 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

TGRE.TOVRE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

3.83%

+0.09%

Volatility (6M)

Calculated over the trailing 6-month period

10.58%

10.35%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

13.49%

13.22%

+0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.27%

16.01%

-0.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.36%

17.54%

-0.18%

Dividends

TGRE.TO vs. VRE.TO - Dividend Comparison

TGRE.TO's dividend yield for the trailing twelve months is around 4.78%, more than VRE.TO's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
TGRE.TO
TD Active Global Real Estate Equity ETF		4.78%5.21%4.50%4.93%5.00%1.92%2.04%0.17%0.00%0.00%0.00%0.00%
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		2.68%2.84%2.97%2.65%4.75%2.73%3.74%5.15%3.83%3.72%4.10%2.01%

Frequently Asked Questions

TGRE.TO and VRE.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: TD and Vanguard.

Portfolio Optimizer

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