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

VRE.TO vs. BANK.TO

Last updated Jun 5, 2026

VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both exchange-traded funds - VRE.TO is a REIT fund tracking the FTSE CA All Cap RE Capped 25% Idx, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. Both are passively managed. Over the past 3 years, VRE.TO returned 5.69%/yr vs 33.05%/yr for BANK.TO. A 0.59 correlation means they provide meaningful diversification when combined. VRE.TO charges 0.30%/yr vs 0.60%/yr for BANK.TO.

Performance

VRE.TO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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, VRE.TO achieves a 1.12% return, which is significantly lower than BANK.TO's 19.17% return.

VRE.TO

1D
0.53%
1M
1.02%
YTD
1.12%
6M
1.48%
1Y
4.11%
3Y*
5.69%
5Y*
1.59%
10Y*
4.52%

BANK.TO

1D
1.54%
1M
6.90%
YTD
19.17%
6M
23.84%
1Y
57.93%
3Y*
33.05%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		1.12%3.98%7.36%9.25%-19.37%
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		19.17%41.00%27.90%16.23%-20.47%

Correlation

The correlation between VRE.TO and BANK.TO is 0.52, 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

0.52

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

0.56

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2022

0.60

The correlation between VRE.TO and BANK.TO has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

VRE.TO vs. BANK.TO - Sectors Allocation Comparison

Sectors
VRE.TO
BANK.TO

Real Estate

100.0%

-

Financial Services

0.2%
100.0%

Basic Materials

0.1%

-

Energy

0.1%

-

Industrials

0.0%

-

Technology

0.0%

-

Consumer Cyclical

0.0%

-

Communication Services

0.0%

-

Consumer Defensive

0.0%

-

Utilities

0.0%

-

Healthcare

-

-

Real Estate

VRE.TO
100.0%
BANK.TO

-

Financial Services

VRE.TO
0.2%
BANK.TO
100.0%

Basic Materials

VRE.TO
0.1%
BANK.TO

-

Energy

VRE.TO
0.1%
BANK.TO

-

Industrials

VRE.TO
0.0%
BANK.TO

-

Technology

VRE.TO
0.0%
BANK.TO

-

Consumer Cyclical

VRE.TO
0.0%
BANK.TO

-

Communication Services

VRE.TO
0.0%
BANK.TO

-

Consumer Defensive

VRE.TO
0.0%
BANK.TO

-

Utilities

VRE.TO
0.0%
BANK.TO

-

Healthcare

VRE.TO

-

BANK.TO

-

Compare stocks, funds, or ETFs

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Vanguard FTSE Canadian Capped REIT Index ETF

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

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
Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VRE.TO
VRE.TO Risk / Return Rank: 1313
Overall Rank
VRE.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
VRE.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
VRE.TO Omega Ratio Rank: 1313
Omega Ratio Rank
VRE.TO Calmar Ratio Rank: 1212
Calmar Ratio Rank
VRE.TO Martin Ratio Rank: 1212
Martin Ratio Rank
BANK.TO
BANK.TO Risk / Return Rank: 9696
Overall Rank
BANK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9797
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9595
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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

VRE.TOBANK.TODifference
Sharpe ratioReturn per unit of total volatility
0.32
4.79

-4.47

Sortino ratioReturn per unit of downside risk
0.53
6.53

-5.99

Omega ratioGain probability vs. loss probability

1.06

1.89

-0.82

Calmar ratioReturn relative to maximum drawdown

0.27

7.08

-6.80

Martin ratioReturn relative to average drawdown

0.58

31.24

-30.65

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

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

The current VRE.TO Sharpe Ratio is 0.32, which is lower than the BANK.TO Sharpe Ratio of 4.79. The chart below compares the historical Sharpe Ratios of VRE.TO and BANK.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

VRE.TOBANK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

4.79

-4.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.10

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

1.10

-0.77

Drawdowns

VRE.TO vs. BANK.TO - Drawdown Comparison

The maximum VRE.TO drawdown since its inception was -48.06%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for VRE.TO and BANK.TO.

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Drawdown Indicators

VRE.TOBANK.TODifference

Max Drawdown

Largest peak-to-trough decline

-48.06%

-29.03%

-19.03%

Max Drawdown (1Y)

Largest decline over 1 year

-15.00%

-8.23%

-6.77%

Max Drawdown (3Y)

Largest decline over 3 years

-18.42%

-15.49%

-2.93%

Max Drawdown (5Y)

Largest decline over 5 years

-29.87%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-48.06%

—

—

Current Drawdown

Current decline from peak

-8.19%

0.00%

-8.19%

Average Drawdown

Average peak-to-trough decline

-8.28%

-8.80%

+0.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.04%

1.86%

+5.18%

Volatility

VRE.TO vs. BANK.TO - Volatility Comparison

The current volatility for Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) is 3.46%, while Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a volatility of 4.43%. This indicates that VRE.TO experiences smaller price fluctuations and is considered to be less risky than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VRE.TOBANK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.46%

4.43%

-0.97%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

10.53%

-0.54%

Volatility (1Y)

Calculated over the trailing 1-year period

13.02%

12.16%

+0.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.96%

15.66%

+0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.51%

15.66%

+1.85%

VRE.TO vs. BANK.TO - Expense Ratio Comparison

VRE.TO has a 0.30% expense ratio, which is lower than BANK.TO's 0.60% expense ratio.

Dividends

VRE.TO vs. BANK.TO - Dividend Comparison

VRE.TO's dividend yield for the trailing twelve months is around 2.81%, less than BANK.TO's 12.82% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		12.82%13.73%15.28%13.60%10.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		2.81%2.85%2.96%2.64%4.73%2.73%3.72%5.15%3.82%3.72%4.10%2.01%

Frequently Asked Questions

VRE.TO and BANK.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VRE.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VRE.TO is cheaper with a 0.30% expense ratio, compared with 0.60% for BANK.TO.

VRE.TO is categorized as REIT, while BANK.TO is Derivative Income. VRE.TO tracks FTSE CA All Cap RE Capped 25% Idx, while BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index. They also come from different issuers: Vanguard and Evolve. Their fees differ too: 0.30% for VRE.TO and 0.60% for BANK.TO.

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