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

VRE.TO vs. REZ

Last updated Jun 5, 2026

VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) and REZ (iShares Residential Real Estate ETF) are both REIT funds - VRE.TO tracks the FTSE CA All Cap RE Capped 25% Idx while REZ tracks the FTSE NAREIT All Residential Capped Index. Both are passively managed. Over the past 10 years, VRE.TO returned 4.52%/yr vs 7.55%/yr for REZ. At a 0.44 correlation, their price movements are largely independent. VRE.TO charges 0.30%/yr vs 0.48%/yr for REZ.

Performance

VRE.TO vs. REZ - 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 iShares Residential Real Estate ETF (REZ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VRE.TO is traded in CAD, while REZ is traded in USD. To make them comparable, the REZ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VRE.TO achieves a 1.12% return, which is significantly lower than REZ's 9.75% return. Over the past 10 years, VRE.TO has underperformed REZ with an annualized return of 4.52%, while REZ has yielded a comparatively higher 7.55% 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%

REZ

1D
1.41%
1M
1.71%
YTD
9.75%
6M
5.02%
1Y
12.57%
3Y*
11.91%
5Y*
7.25%
10Y*
7.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VRE.TO vs. REZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
REZ
iShares Residential Real Estate ETF		9.75%-0.01%22.41%8.53%-23.20%46.52%-8.19%18.37%12.71%-2.74%

Correlation

The correlation between VRE.TO and REZ is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.38

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

0.51

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

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2012

0.44

The correlation between VRE.TO and REZ shifts across timeframes, from 0.38 (1 year) to 0.51 (3 years), reflecting how their relationship changes across market environments.

VRE.TO vs. REZ - Sectors Allocation Comparison

Sectors
VRE.TO
REZ

Real Estate

100.0%
99.4%

Financial Services

0.2%
0.1%

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%
REZ
99.4%

Financial Services

VRE.TO
0.2%
REZ
0.1%

Basic Materials

VRE.TO
0.1%
REZ

-

Energy

VRE.TO
0.1%
REZ

-

Industrials

VRE.TO
0.0%
REZ

-

Technology

VRE.TO
0.0%
REZ

-

Consumer Cyclical

VRE.TO
0.0%
REZ

-

Communication Services

VRE.TO
0.0%
REZ

-

Consumer Defensive

VRE.TO
0.0%
REZ

-

Utilities

VRE.TO
0.0%
REZ

-

Healthcare

VRE.TO

-

REZ

-

Compare stocks, funds, or ETFs

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

Vanguard FTSE Canadian Capped REIT Index ETF

iShares Residential Real Estate 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
Often compared with REZ:
REZ vs. VNQREZ vs. IYRREZ vs. HAUSREZ vs. NUREREZ vs. AVBREZ vs. UREREZ vs. FRESX

Return for Risk

VRE.TO vs. REZ — 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
REZ
REZ Risk / Return Rank: 2424
Overall Rank
REZ Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
REZ Sortino Ratio Rank: 2121
Sortino Ratio Rank
REZ Omega Ratio Rank: 2121
Omega Ratio Rank
REZ Calmar Ratio Rank: 2626
Calmar Ratio Rank
REZ Martin Ratio Rank: 2727
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. REZ - 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 Residential Real Estate ETF (REZ). 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.TOREZDifference
Sharpe ratioReturn per unit of total volatility
0.32
0.87

-0.55

Sortino ratioReturn per unit of downside risk
0.53
1.26

-0.72

Omega ratioGain probability vs. loss probability

1.06

1.16

-0.09

Calmar ratioReturn relative to maximum drawdown

0.27

1.61

-1.33

Martin ratioReturn relative to average drawdown

0.58

4.11

-3.52

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. REZ - Sharpe Ratio Comparison

The current VRE.TO Sharpe Ratio is 0.32, which is lower than the REZ Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of VRE.TO and REZ, 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.TOREZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

0.87

-0.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.10

0.42

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

0.38

-0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.71

-0.38

Drawdowns

VRE.TO vs. REZ - Drawdown Comparison

The maximum VRE.TO drawdown since its inception was -48.06%, which is greater than REZ's maximum drawdown of -38.94%. Use the drawdown chart below to compare losses from any high point for VRE.TO and REZ.

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Drawdown Indicators

VRE.TOREZDifference

Max Drawdown

Largest peak-to-trough decline

-48.06%

-38.94%

-9.12%

Max Drawdown (1Y)

Largest decline over 1 year

-15.00%

-7.86%

-7.14%

Max Drawdown (3Y)

Largest decline over 3 years

-18.42%

-14.88%

-3.54%

Max Drawdown (5Y)

Largest decline over 5 years

-29.87%

-28.32%

-1.55%

Max Drawdown (10Y)

Largest decline over 10 years

-48.06%

-38.94%

-9.12%

Current Drawdown

Current decline from peak

-8.19%

-2.26%

-5.93%

Average Drawdown

Average peak-to-trough decline

-8.28%

-7.61%

-0.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.04%

3.07%

+3.97%

Volatility

VRE.TO vs. REZ - Volatility Comparison

The current volatility for Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) is 3.46%, while iShares Residential Real Estate ETF (REZ) has a volatility of 4.53%. This indicates that VRE.TO experiences smaller price fluctuations and is considered to be less risky than REZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VRE.TOREZDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.46%

4.53%

-1.07%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

11.14%

-1.15%

Volatility (1Y)

Calculated over the trailing 1-year period

13.02%

14.49%

-1.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.96%

17.35%

-1.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.51%

20.15%

-2.64%

VRE.TO vs. REZ - Expense Ratio Comparison

VRE.TO has a 0.30% expense ratio, which is lower than REZ's 0.48% expense ratio.

Dividends

VRE.TO vs. REZ - Dividend Comparison

VRE.TO's dividend yield for the trailing twelve months is around 2.81%, more than REZ's 2.12% yield.

PositionTTM20252024202320222021202020192018201720162015
REZ
iShares Residential Real Estate ETF		2.12%2.74%2.26%2.94%3.37%1.81%3.17%2.90%3.63%3.57%5.55%3.18%
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 REZ have a correlation of 0.38, 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 0.48% for REZ.

VRE.TO tracks FTSE CA All Cap RE Capped 25% Idx, while REZ tracks FTSE NAREIT All Residential Capped Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.30% for VRE.TO and 0.48% for REZ.

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