VRE.TO vs. CGR.TO
VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) and CGR.TO (iShares Global Real Estate Index ETF) are both REIT funds - VRE.TO tracks the FTSE CA All Cap RE Capped 25% Idx while CGR.TO tracks the Morningstar DM REIT NR CAD. Both are passively managed. Over the past 10 years, VRE.TO returned 4.52%/yr vs 4.14%/yr for CGR.TO. A 0.51 correlation means they provide meaningful diversification when combined. VRE.TO charges 0.30%/yr vs 0.72%/yr for CGR.TO.
Performance
VRE.TO vs. CGR.TO - Performance Comparison
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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 CGR.TO's 9.33% return. Over the past 10 years, VRE.TO has outperformed CGR.TO with an annualized return of 4.52%, while CGR.TO has yielded a comparatively lower 4.14% annualized 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%
CGR.TO
- 1D
- 1.38%
- 1M
- 0.30%
- YTD
- 9.33%
- 6M
- 7.94%
- 1Y
- 10.50%
- 3Y*
- 10.69%
- 5Y*
- 3.88%
- 10Y*
- 4.14%
VRE.TO vs. CGR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRE.TO Vanguard FTSE Canadian Capped REIT Index ETF | 1.12% | 3.98% | 7.36% | 9.25% | -22.67% | 35.57% | -12.27% | 21.14% | 1.86% | 10.10% |
CGR.TO iShares Global Real Estate Index ETF | 9.33% | 2.56% | 9.99% | 7.58% | -21.75% | 28.98% | -9.40% | 14.90% | 2.92% | 3.32% |
Correlation
The correlation between VRE.TO and CGR.TO is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2012 | 0.51 |
The correlation between VRE.TO and CGR.TO shifts across timeframes, from 0.51 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.
VRE.TO vs. CGR.TO - Sectors Allocation Comparison
Sectors
VRE.TO
CGR.TO
Real Estate
Financial Services
Basic Materials
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Energy
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Industrials
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Technology
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Consumer Cyclical
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Communication Services
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Consumer Defensive
-
Utilities
-
Healthcare
-
-
Real Estate
VRE.TO
CGR.TO
Financial Services
VRE.TO
CGR.TO
Basic Materials
VRE.TO
CGR.TO
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Energy
VRE.TO
CGR.TO
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Industrials
VRE.TO
CGR.TO
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Technology
VRE.TO
CGR.TO
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Consumer Cyclical
VRE.TO
CGR.TO
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Communication Services
VRE.TO
CGR.TO
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Consumer Defensive
VRE.TO
CGR.TO
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Utilities
VRE.TO
CGR.TO
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Healthcare
VRE.TO
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CGR.TO
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Return for Risk
VRE.TO vs. CGR.TO — Risk / Return Rank
VRE.TO
CGR.TO
VRE.TO vs. CGR.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 iShares Global Real Estate Index ETF (CGR.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.TO | CGR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.16 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 1.10 | -0.83 |
| Martin ratioReturn relative to average drawdown | 0.58 | 3.52 | -2.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VRE.TO | CGR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.84 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.26 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.25 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.28 | +0.05 |
Drawdowns
VRE.TO vs. CGR.TO - Drawdown Comparison
The maximum VRE.TO drawdown since its inception was -48.06%, smaller than the maximum CGR.TO drawdown of -52.90%. Use the drawdown chart below to compare losses from any high point for VRE.TO and CGR.TO.
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Drawdown Indicators
| VRE.TO | CGR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.06% | -52.90% | +4.84% |
Max Drawdown (1Y)Largest decline over 1 year | -15.00% | -9.55% | -5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.42% | -14.40% | -4.02% |
Max Drawdown (5Y)Largest decline over 5 years | -29.87% | -28.76% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -48.06% | -33.71% | -14.35% |
Current DrawdownCurrent decline from peak | -8.19% | -1.64% | -6.55% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -9.98% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.04% | 2.99% | +4.05% |
Volatility
VRE.TO vs. CGR.TO - Volatility Comparison
The current volatility for Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) is 3.46%, while iShares Global Real Estate Index ETF (CGR.TO) has a volatility of 4.00%. This indicates that VRE.TO experiences smaller price fluctuations and is considered to be less risky than CGR.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.TO | CGR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 4.00% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 9.99% | 9.95% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.02% | 12.57% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.96% | 15.03% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 16.56% | +0.95% |
VRE.TO vs. CGR.TO - Expense Ratio Comparison
VRE.TO has a 0.30% expense ratio, which is lower than CGR.TO's 0.72% expense ratio.
Dividends
VRE.TO vs. CGR.TO - Dividend Comparison
VRE.TO's dividend yield for the trailing twelve months is around 2.81%, more than CGR.TO's 2.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGR.TO iShares Global Real Estate Index ETF | 2.30% | 2.51% | 2.52% | 2.59% | 2.40% | 1.70% | 2.22% | 2.10% | 2.54% | 4.25% | 2.83% | 2.97% |
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 CGR.TO have a correlation of 0.53, 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 0.72% for CGR.TO.
VRE.TO tracks FTSE CA All Cap RE Capped 25% Idx, while CGR.TO tracks Morningstar DM REIT NR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.30% for VRE.TO and 0.72% for CGR.TO.
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