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

VRE.TO vs. TGRE.TO

Last updated Jul 18, 2026
Documentation

VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) and TGRE.TO (TD Active Global Real Estate Equity ETF) are both REIT funds. VRE.TO is passively managed, while TGRE.TO is actively managed. Over the past 5 years, VRE.TO returned 1.56%/yr vs 2.78%/yr for TGRE.TO. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

VRE.TO vs. TGRE.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 TD Active Global Real Estate Equity ETF (TGRE.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 6.84% return, which is significantly lower than TGRE.TO's 13.02% return.

VRE.TO

1D
-0.34%
1M
4.74%
6M
0.97%
YTD
6.84%
1Y
5.97%
3Y*
7.34%
5Y*
1.56%
10Y*
4.66%

TGRE.TO

1D
1.07%
1M
1.28%
6M
7.47%
YTD
13.02%
1Y
13.55%
3Y*
11.35%
5Y*
2.78%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		6.84%4.62%7.38%9.26%-22.66%35.56%-12.25%-0.76%
TGRE.TO
TD Active Global Real Estate Equity ETF		13.02%0.39%14.77%8.69%-27.34%32.66%2.37%-0.70%

Correlation

The correlation between VRE.TO and TGRE.TO is 0.51, 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

0.51

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 VRE.TO and TGRE.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.

Vanguard FTSE Canadian Capped REIT Index ETF

TD Active Global Real Estate Equity 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 TGRE.TO:
TGRE.TO vs. CGRE.TOTGRE.TO vs. REIT.TOTGRE.TO vs. HCRE.TOTGRE.TO vs. RIT.TOTGRE.TO vs. TEC.TOTGRE.TO vs. TPE.TOTGRE.TO vs. TPU.TO

Return for Risk

VRE.TO vs. TGRE.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: 1616
Overall Rank
VRE.TO Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
VRE.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
VRE.TO Omega Ratio Rank: 1616
Omega Ratio Rank
VRE.TO Calmar Ratio Rank: 1616
Calmar Ratio Rank
VRE.TO Martin Ratio Rank: 1515
Martin Ratio Rank
TGRE.TO
TGRE.TO Risk / Return Rank: 3434
Overall Rank
TGRE.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
TGRE.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
TGRE.TO Omega Ratio Rank: 3131
Omega Ratio Rank
TGRE.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
TGRE.TO Martin Ratio Rank: 3535
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. TGRE.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 TD Active Global Real Estate Equity ETF (TGRE.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.

VRE.TOTGRE.TODifference
Sharpe ratioReturn per unit of total volatility
0.45
1.01

-0.55

Sortino ratioReturn per unit of downside risk
0.73
1.45

-0.72

Omega ratioGain probability vs. loss probability

1.09

1.18

-0.09

Calmar ratioReturn relative to maximum drawdown

0.41

1.62

-1.21

Martin ratioReturn relative to average drawdown

0.86

4.25

-3.39

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

The current VRE.TO Sharpe Ratio is 0.45, which is lower than the TGRE.TO Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of VRE.TO and TGRE.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

VRE.TO vs. TGRE.TO - Drawdown Comparison

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

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Drawdown Indicators

VRE.TOTGRE.TODifference

Max Drawdown

Largest peak-to-trough decline

-48.06%

-33.49%

-14.57%

Max Drawdown (1Y)

Largest decline over 1 year

-14.48%

-8.40%

-6.08%

Max Drawdown (3Y)

Largest decline over 3 years

-18.42%

-12.62%

-5.80%

Max Drawdown (5Y)

Largest decline over 5 years

-29.85%

-33.49%

+3.64%

Max Drawdown (10Y)

Largest decline over 10 years

-48.06%

—

—

Current Drawdown

Current decline from peak

-2.41%

-0.11%

-2.30%

Average Drawdown

Average peak-to-trough decline

-8.22%

-12.76%

+4.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.95%

3.20%

+3.75%

Volatility

VRE.TO vs. TGRE.TO - Volatility Comparison

The current volatility for Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) is 3.78%, while TD Active Global Real Estate Equity ETF (TGRE.TO) has a volatility of 3.99%. This indicates that VRE.TO experiences smaller price fluctuations and is considered to be less risky than TGRE.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.TOTGRE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

3.99%

-0.21%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

10.55%

-0.17%

Volatility (1Y)

Calculated over the trailing 1-year period

13.27%

13.53%

-0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.01%

15.27%

+0.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.54%

17.36%

+0.18%

Dividends

VRE.TO vs. TGRE.TO - Dividend Comparison

VRE.TO's dividend yield for the trailing twelve months is around 2.88%, less than TGRE.TO's 4.73% yield.

PositionTTM20252024202320222021202020192018201720162015
TGRE.TO
TD Active Global Real Estate Equity ETF		4.73%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		2.88%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

VRE.TO and TGRE.TO have a correlation of 0.51, 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: Vanguard and TD.

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