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

VRE.TO vs. XCNS.TO

Last updated Jun 5, 2026

VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) and XCNS.TO (iShares Core Conservative Balanced ETF Portfolio) are both exchange-traded funds - VRE.TO is a REIT fund tracking the FTSE CA All Cap RE Capped 25% Idx, while XCNS.TO is a Diversified Portfolio fund actively managed by iShares. VRE.TO is passively managed, while XCNS.TO is actively managed. Over the past 5 years, VRE.TO returned 1.59%/yr vs 5.78%/yr for XCNS.TO. A 0.54 correlation means they provide meaningful diversification when combined. VRE.TO charges 0.30%/yr vs 0.20%/yr for XCNS.TO.

Performance

VRE.TO vs. XCNS.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 iShares Core Conservative Balanced ETF Portfolio (XCNS.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 XCNS.TO's 5.93% 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%

XCNS.TO

1D
0.34%
1M
3.18%
YTD
5.93%
6M
4.54%
1Y
12.96%
3Y*
11.09%
5Y*
5.78%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		1.12%3.98%7.36%9.25%-22.67%35.57%-12.27%3.05%
XCNS.TO
iShares Core Conservative Balanced ETF Portfolio		5.93%9.44%11.73%10.66%-11.25%5.93%10.28%3.45%

Correlation

The correlation between VRE.TO and XCNS.TO is 0.55, 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

0.55

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

0.58

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

0.56

Correlation (All Time)
Calculated using the full available price history since Aug 26, 2019

0.54

The correlation between VRE.TO and XCNS.TO has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

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

Sectors
VRE.TO
XCNS.TO

Real Estate

100.0%
0.2%

Financial Services

0.2%
9.4%

Basic Materials

0.1%
2.7%

Energy

0.1%
3.1%

Industrials

0.0%
3.6%

Technology

0.0%
12.2%

Consumer Cyclical

0.0%
3.1%

Communication Services

0.0%
3.1%

Consumer Defensive

0.0%
1.7%

Utilities

0.0%
0.7%

Healthcare

-

2.4%

Real Estate

VRE.TO
100.0%
XCNS.TO
0.2%

Financial Services

VRE.TO
0.2%
XCNS.TO
9.4%

Basic Materials

VRE.TO
0.1%
XCNS.TO
2.7%

Energy

VRE.TO
0.1%
XCNS.TO
3.1%

Industrials

VRE.TO
0.0%
XCNS.TO
3.6%

Technology

VRE.TO
0.0%
XCNS.TO
12.2%

Consumer Cyclical

VRE.TO
0.0%
XCNS.TO
3.1%

Communication Services

VRE.TO
0.0%
XCNS.TO
3.1%

Consumer Defensive

VRE.TO
0.0%
XCNS.TO
1.7%

Utilities

VRE.TO
0.0%
XCNS.TO
0.7%

Healthcare

VRE.TO

-

XCNS.TO
2.4%

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 Core Conservative Balanced ETF Portfolio

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 XCNS.TO:
XCNS.TO vs. XBAL.TOXCNS.TO vs. XINC.TOXCNS.TO vs. VCNS.TOXCNS.TO vs. XEQT.TOXCNS.TO vs. GCNS.TOXCNS.TO vs. XGRO.TOXCNS.TO vs. XTR.TO

Return for Risk

VRE.TO vs. XCNS.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
XCNS.TO
XCNS.TO Risk / Return Rank: 6060
Overall Rank
XCNS.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XCNS.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
XCNS.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XCNS.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
XCNS.TO Martin Ratio Rank: 6060
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. XCNS.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 Core Conservative Balanced ETF Portfolio (XCNS.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.TOXCNS.TODifference
Sharpe ratioReturn per unit of total volatility
0.32
1.95

-1.63

Sortino ratioReturn per unit of downside risk
0.53
2.80

-2.27

Omega ratioGain probability vs. loss probability

1.06

1.38

-0.32

Calmar ratioReturn relative to maximum drawdown

0.27

2.68

-2.40

Martin ratioReturn relative to average drawdown

0.58

10.44

-9.86

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. XCNS.TO - Sharpe Ratio Comparison

The current VRE.TO Sharpe Ratio is 0.32, which is lower than the XCNS.TO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of VRE.TO and XCNS.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.TOXCNS.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

1.95

-1.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.10

0.85

-0.75

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

0.87

-0.53

Drawdowns

VRE.TO vs. XCNS.TO - Drawdown Comparison

The maximum VRE.TO drawdown since its inception was -48.06%, which is greater than XCNS.TO's maximum drawdown of -16.96%. Use the drawdown chart below to compare losses from any high point for VRE.TO and XCNS.TO.

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Drawdown Indicators

VRE.TOXCNS.TODifference

Max Drawdown

Largest peak-to-trough decline

-48.06%

-16.96%

-31.10%

Max Drawdown (1Y)

Largest decline over 1 year

-15.00%

-4.86%

-10.14%

Max Drawdown (3Y)

Largest decline over 3 years

-18.42%

-6.40%

-12.02%

Max Drawdown (5Y)

Largest decline over 5 years

-29.87%

-16.09%

-13.78%

Max Drawdown (10Y)

Largest decline over 10 years

-48.06%

—

—

Current Drawdown

Current decline from peak

-8.19%

-0.45%

-7.74%

Average Drawdown

Average peak-to-trough decline

-8.28%

-3.49%

-4.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.04%

1.24%

+5.80%

Volatility

VRE.TO vs. XCNS.TO - Volatility Comparison

Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) has a higher volatility of 3.46% compared to iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) at 3.14%. This indicates that VRE.TO's price experiences larger fluctuations and is considered to be riskier than XCNS.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.TOXCNS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.46%

3.14%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

5.72%

+4.27%

Volatility (1Y)

Calculated over the trailing 1-year period

13.02%

6.67%

+6.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.96%

6.86%

+9.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.51%

7.61%

+9.90%

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

VRE.TO has a 0.30% expense ratio, which is higher than XCNS.TO's 0.20% expense ratio.

Dividends

VRE.TO vs. XCNS.TO - Dividend Comparison

VRE.TO's dividend yield for the trailing twelve months is around 2.81%, more than XCNS.TO's 2.49% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XCNS.TO
iShares Core Conservative Balanced ETF Portfolio		2.49%2.55%2.58%2.49%2.26%1.81%2.15%0.92%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VRE.TO and XCNS.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XCNS.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XCNS.TO is cheaper with a 0.20% expense ratio, compared with 0.30% for VRE.TO.

VRE.TO is categorized as REIT, while XCNS.TO is Diversified Portfolio. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.30% for VRE.TO and 0.20% for XCNS.TO.

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