VCE.TO vs. KMP-UN.TO

Last updated Jun 4, 2026

VCE.TO (Vanguard FTSE Canada Index ETF) is Canada Equities fund tracking the FTSE Canada Domestic Index, while KMP-UN.TO (Killam Apartment Real Estate Investment Trust) is a stock. Over the past 10 years, VCE.TO returned 12.58%/yr vs 8.36%/yr for KMP-UN.TO. At a 0.32 correlation, their price movements are largely independent.

Performance

VCE.TO vs. KMP-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada Index ETF (VCE.TO) and Killam Apartment Real Estate Investment Trust (KMP-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCE.TO achieves a 10.03% return, which is significantly lower than KMP-UN.TO's 12.32% return. Over the past 10 years, VCE.TO has outperformed KMP-UN.TO with an annualized return of 12.58%, while KMP-UN.TO has yielded a comparatively lower 8.36% annualized return.

VCE.TO

• 1D: -0.96%
• 1M: 3.36%
• YTD: 10.03%
• 6M: 10.19%
• 1Y: 28.98%
• 3Y*: 22.22%
• 5Y*: 14.43%
• 10Y*: 12.58%

KMP-UN.TO

• 1D: -0.33%
• 1M: 6.32%
• YTD: 12.32%
• 6M: 12.53%
• 1Y: -3.41%
• 3Y*: 4.58%
• 5Y*: 2.48%
• 10Y*: 8.36%

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

VCE.TO vs. KMP-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCE.TO Vanguard FTSE Canada Index ETF	10.03%	26.39%	21.43%	12.26%	-5.20%	28.59%	4.09%	22.99%	-7.86%	8.79%
KMP-UN.TO Killam Apartment Real Estate Investment Trust	12.32%	-0.06%	-1.08%	15.35%	-28.55%	42.61%	-6.13%	22.98%	16.95%	24.88%

Correlation

The correlation between VCE.TO and KMP-UN.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011	0.32

The correlation between VCE.TO and KMP-UN.TO shifts across timeframes, from 0.32 (all time) to 0.47 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VCE.TO vs. KMP-UN.TO — Risk / Return Rank

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

VCE.TO

VCE.TO Risk / Return Rank: 72
VCE.TO Sharpe Ratio Rank: 70
VCE.TO Sortino Ratio Rank: 67
VCE.TO Omega Ratio Rank: 69
VCE.TO Calmar Ratio Rank: 71
VCE.TO Martin Ratio Rank: 82

KMP-UN.TO

KMP-UN.TO Risk / Return Rank: 30
KMP-UN.TO Sharpe Ratio Rank: 32
KMP-UN.TO Sortino Ratio Rank: 25
KMP-UN.TO Omega Ratio Rank: 26
KMP-UN.TO Calmar Ratio Rank: 34
KMP-UN.TO Martin Ratio Rank: 34

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.

VCE.TO vs. KMP-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada Index ETF (VCE.TO) and Killam Apartment Real Estate Investment Trust (KMP-UN.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.

	VCE.TO	KMP-UN.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.37	-0.21	+2.58
Sortino ratio: Return per unit of downside risk	3.16	-0.20	+3.35
Omega ratio: Gain probability vs. loss probability	1.42	0.98	+0.45
Calmar ratio: Return relative to maximum drawdown	3.60	-0.19	+3.79
Martin ratio: Return relative to average drawdown	16.77	-0.33	+17.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCE.TO vs. KMP-UN.TO - Sharpe Ratio Comparison

The current VCE.TO Sharpe Ratio is 2.37, which is higher than the KMP-UN.TO Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of VCE.TO and KMP-UN.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.

Sharpe Ratios by Period

	VCE.TO	KMP-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	-0.21	+2.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	0.13	+1.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.39	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.00	+0.77

Drawdowns

VCE.TO vs. KMP-UN.TO - Drawdown Comparison

The maximum VCE.TO drawdown since its inception was -35.92%, smaller than the maximum KMP-UN.TO drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for VCE.TO and KMP-UN.TO.

Drawdown Indicators

	VCE.TO	KMP-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-65.53%	+29.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-17.83%	+9.74%
Max Drawdown (3Y) Largest decline over 3 years	-12.16%	-25.09%	+12.93%
Max Drawdown (5Y) Largest decline over 5 years	-15.90%	-35.56%	+19.66%
Max Drawdown (10Y) Largest decline over 10 years	-35.92%	-40.34%	+4.42%
Current Drawdown Current decline from peak	-0.96%	-10.42%	+9.46%
Average Drawdown Average peak-to-trough decline	-3.73%	-14.79%	+11.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	10.34%	-8.61%

Volatility

VCE.TO vs. KMP-UN.TO - Volatility Comparison

The current volatility for Vanguard FTSE Canada Index ETF (VCE.TO) is 3.47%, while Killam Apartment Real Estate Investment Trust (KMP-UN.TO) has a volatility of 7.38%. This indicates that VCE.TO experiences smaller price fluctuations and is considered to be less risky than KMP-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCE.TO	KMP-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	7.38%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	12.63%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	16.28%	-3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.78%	19.88%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	21.82%	-6.83%

Dividends

VCE.TO vs. KMP-UN.TO - Dividend Comparison

VCE.TO's dividend yield for the trailing twelve months is around 2.17%, less than KMP-UN.TO's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KMP-UN.TO Killam Apartment Real Estate Investment Trust	3.98%	4.39%	4.11%	3.90%	4.32%	2.91%	3.95%	3.47%	3.99%	4.34%	5.03%	5.71%
VCE.TO Vanguard FTSE Canada Index ETF	2.17%	2.42%	2.84%	3.16%	3.21%	2.61%	2.93%	3.01%	3.21%	2.57%	2.64%	2.98%

Frequently Asked Questions

Can I hold both VCE.TO and KMP-UN.TO in my portfolio?

VCE.TO and KMP-UN.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.