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VXM-B.TO vs. CGRE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VXM-B.TO vs. CGRE.TO

Last updated Jul 18, 2026
Documentation

VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) and CGRE.TO (CI Global REIT Private Pool) are both exchange-traded funds - VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index, while CGRE.TO is a REIT fund actively managed by CI. VXM-B.TO is passively managed, while CGRE.TO is actively managed. Over the past 5 years, VXM-B.TO returned 17.68%/yr vs 3.10%/yr for CGRE.TO. At a 0.19 correlation, their price movements are largely independent.

Performance

VXM-B.TO vs. CGRE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and CI Global REIT Private Pool (CGRE.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, VXM-B.TO achieves a 11.11% return, which is significantly lower than CGRE.TO's 13.94% return.

VXM-B.TO

1D
-0.29%
1M
-0.49%
6M
6.23%
YTD
11.11%
1Y
29.13%
3Y*
26.57%
5Y*
17.68%
10Y*
11.77%

CGRE.TO

1D
0.00%
1M
2.32%
6M
8.57%
YTD
13.94%
1Y
14.54%
3Y*
8.62%
5Y*
3.10%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VXM-B.TO vs. CGRE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		11.11%46.74%18.34%18.89%-2.50%9.58%19.01%
CGRE.TO
CI Global REIT Private Pool		13.94%3.39%4.66%11.66%-23.63%35.03%8.96%

Correlation

The correlation between VXM-B.TO and CGRE.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

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

0.16

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

0.18

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.19

Compare stocks, funds, or ETFs

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

CI Morningstar International Value Index ETF (Unhedged)

CI Global REIT Private Pool

Often compared with VXM-B.TO:
VXM-B.TO vs. CMNY.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. CCOM.TOVXM-B.TO vs. NXF.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CBCX.TO
Often compared with CGRE.TO:
CGRE.TO vs. MREL.TOCGRE.TO vs. REIT.TOCGRE.TO vs. FSF.TOCGRE.TO vs. RIT.TOCGRE.TO vs. VRE.TOCGRE.TO vs. EHE.TOCGRE.TO vs. CBCX.TO

Return for Risk

VXM-B.TO vs. CGRE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VXM-B.TO
VXM-B.TO Risk / Return Rank: 8080
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 8484
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 7373
Martin Ratio Rank
CGRE.TO
CGRE.TO Risk / Return Rank: 4848
Overall Rank
CGRE.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
CGRE.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
CGRE.TO Omega Ratio Rank: 6464
Omega Ratio Rank
CGRE.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
CGRE.TO Martin Ratio Rank: 4343
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.

VXM-B.TO vs. CGRE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and CI Global REIT Private Pool (CGRE.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.

VXM-B.TOCGRE.TODifference
Sharpe ratioReturn per unit of total volatility
2.16
1.18

+0.98

Sortino ratioReturn per unit of downside risk
2.97
1.83

+1.14

Omega ratioGain probability vs. loss probability

1.39

1.29

+0.10

Calmar ratioReturn relative to maximum drawdown

2.83

1.69

+1.15

Martin ratioReturn relative to average drawdown

10.18

5.25

+4.93

VXM-B.TO vs. CGRE.TO - Sharpe Ratio Comparison

The current VXM-B.TO Sharpe Ratio is 2.16, which is higher than the CGRE.TO Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of VXM-B.TO and CGRE.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

VXM-B.TO vs. CGRE.TO - Drawdown Comparison

The maximum VXM-B.TO drawdown since its inception was -38.71%, which is greater than CGRE.TO's maximum drawdown of -28.28%. Use the drawdown chart below to compare losses from any high point for VXM-B.TO and CGRE.TO.

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Drawdown Indicators

VXM-B.TOCGRE.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-28.28%

-10.43%

Max Drawdown (1Y)

Largest decline over 1 year

-10.33%

-8.38%

-1.95%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-13.72%

+0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-22.12%

-28.28%

+6.16%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

—

—

Current Drawdown

Current decline from peak

-1.90%

-0.09%

-1.81%

Average Drawdown

Average peak-to-trough decline

-7.76%

-9.48%

+1.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.68%

+0.19%

Volatility

VXM-B.TO vs. CGRE.TO - Volatility Comparison

CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a higher volatility of 3.79% compared to CI Global REIT Private Pool (CGRE.TO) at 1.76%. This indicates that VXM-B.TO's price experiences larger fluctuations and is considered to be riskier than CGRE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VXM-B.TOCGRE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

1.76%

+2.03%

Volatility (6M)

Calculated over the trailing 6-month period

11.20%

9.12%

+2.08%

Volatility (1Y)

Calculated over the trailing 1-year period

13.59%

11.99%

+1.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

14.90%

-1.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.11%

14.35%

+0.76%

Dividends

VXM-B.TO vs. CGRE.TO - Dividend Comparison

VXM-B.TO's dividend yield for the trailing twelve months is around 1.97%, less than CGRE.TO's 4.45% yield.

PositionTTM20252024202320222021202020192018201720162015
CGRE.TO
CI Global REIT Private Pool		4.45%4.95%4.88%4.86%5.16%3.77%2.84%0.00%0.00%0.00%0.00%0.00%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		1.97%2.21%3.97%3.67%3.67%2.05%2.18%1.59%2.05%1.52%1.42%1.04%

Frequently Asked Questions

VXM-B.TO and CGRE.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VXM-B.TO is categorized as Foreign Small & Mid Cap Equities, while CGRE.TO is REIT.

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