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

XESG.TO vs. VRE.TO

Last updated Jun 4, 2026

XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and VRE.TO (Vanguard FTSE Canadian Capped REIT Index ETF) are both exchange-traded funds - XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while VRE.TO is a REIT fund tracking the FTSE CA All Cap RE Capped 25% Idx. Both are passively managed. Over the past 5 years, XESG.TO returned 12.42%/yr vs 1.48%/yr for VRE.TO. A 0.56 correlation means they provide meaningful diversification when combined. XESG.TO charges 0.16%/yr vs 0.30%/yr for VRE.TO.

Performance

XESG.TO vs. VRE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.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, XESG.TO achieves a 10.34% return, which is significantly higher than VRE.TO's 0.59% return.

XESG.TO

1D
-0.94%
1M
3.12%
YTD
10.34%
6M
9.25%
1Y
29.31%
3Y*
20.90%
5Y*
12.42%
10Y*
—

VRE.TO

1D
-0.50%
1M
0.21%
YTD
0.59%
6M
1.26%
1Y
3.69%
3Y*
5.35%
5Y*
1.48%
10Y*
4.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		10.34%26.25%20.05%10.13%-7.77%22.91%4.80%15.28%
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		0.59%3.98%7.36%9.25%-22.67%35.57%-12.27%5.88%

Correlation

The correlation between XESG.TO and VRE.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.56

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

0.61

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2019

0.56

The correlation between XESG.TO and VRE.TO shifts across timeframes, from 0.46 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

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

Sectors
XESG.TO
VRE.TO

Financial Services

38.5%
0.2%

Energy

19.3%
0.1%

Basic Materials

17.9%
0.1%

Industrials

8.9%
0.0%

Technology

8.3%
0.0%

Utilities

2.7%
0.0%

Consumer Cyclical

2.2%
0.0%

Consumer Defensive

1.9%
0.0%

Real Estate

0.2%
100.0%

Communication Services

0.1%
0.0%

Healthcare

0.1%

-

Financial Services

XESG.TO
38.5%
VRE.TO
0.2%

Energy

XESG.TO
19.3%
VRE.TO
0.1%

Basic Materials

XESG.TO
17.9%
VRE.TO
0.1%

Industrials

XESG.TO
8.9%
VRE.TO
0.0%

Technology

XESG.TO
8.3%
VRE.TO
0.0%

Utilities

XESG.TO
2.7%
VRE.TO
0.0%

Consumer Cyclical

XESG.TO
2.2%
VRE.TO
0.0%

Consumer Defensive

XESG.TO
1.9%
VRE.TO
0.0%

Real Estate

XESG.TO
0.2%
VRE.TO
100.0%

Communication Services

XESG.TO
0.1%
VRE.TO
0.0%

Healthcare

XESG.TO
0.1%
VRE.TO

-

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iShares ESG Aware MSCI Canada Index ETF

Vanguard FTSE Canadian Capped REIT Index ETF

Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. SPYXESG.TO vs. XIU.TOXESG.TO vs. GEQT.TO
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

Return for Risk

XESG.TO vs. VRE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XESG.TO
XESG.TO Risk / Return Rank: 6666
Overall Rank
XESG.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 6868
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 7474
Martin Ratio Rank
VRE.TO
VRE.TO Risk / Return Rank: 1212
Overall Rank
VRE.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
VRE.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
VRE.TO Omega Ratio Rank: 1212
Omega Ratio Rank
VRE.TO Calmar Ratio Rank: 1111
Calmar Ratio Rank
VRE.TO Martin Ratio Rank: 1111
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.

XESG.TO vs. VRE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.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.

XESG.TOVRE.TODifference
Sharpe ratioReturn per unit of total volatility
2.24
0.28

+1.96

Sortino ratioReturn per unit of downside risk
2.86
0.49

+2.37

Omega ratioGain probability vs. loss probability

1.41

1.06

+0.35

Calmar ratioReturn relative to maximum drawdown

3.17

0.25

+2.93

Martin ratioReturn relative to average drawdown

14.11

0.53

+13.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XESG.TO Sharpe Ratio is 2.24, which is higher than the VRE.TO Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of XESG.TO and VRE.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

XESG.TOVRE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

0.28

+1.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

0.09

+0.82

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.26

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.33

+0.49

Drawdowns

XESG.TO vs. VRE.TO - Drawdown Comparison

The maximum XESG.TO drawdown since its inception was -37.36%, smaller than the maximum VRE.TO drawdown of -48.06%. Use the drawdown chart below to compare losses from any high point for XESG.TO and VRE.TO.

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Drawdown Indicators

XESG.TOVRE.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.36%

-48.06%

+10.70%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-15.00%

+5.72%

Max Drawdown (3Y)

Largest decline over 3 years

-14.18%

-18.42%

+4.24%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-29.87%

+11.96%

Max Drawdown (10Y)

Largest decline over 10 years

—

-48.06%

—

Current Drawdown

Current decline from peak

-0.94%

-8.68%

+7.74%

Average Drawdown

Average peak-to-trough decline

-4.55%

-8.28%

+3.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.08%

7.02%

-4.94%

Volatility

XESG.TO vs. VRE.TO - Volatility Comparison

iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Vanguard FTSE Canadian Capped REIT Index ETF (VRE.TO) have volatilities of 3.37% and 3.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XESG.TOVRE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.37%

3.43%

-0.06%

Volatility (6M)

Calculated over the trailing 6-month period

10.94%

9.99%

+0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

13.15%

13.01%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.62%

15.96%

-2.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.83%

17.51%

-0.68%

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

XESG.TO has a 0.16% expense ratio, which is lower than VRE.TO's 0.30% expense ratio.

Dividends

XESG.TO vs. VRE.TO - Dividend Comparison

XESG.TO's dividend yield for the trailing twelve months is around 1.96%, less than VRE.TO's 2.82% yield.

PositionTTM20252024202320222021202020192018201720162015
VRE.TO
Vanguard FTSE Canadian Capped REIT Index ETF		2.82%2.85%2.96%2.64%4.73%2.73%3.72%5.15%3.82%3.72%4.10%2.01%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.96%2.13%2.45%2.74%2.63%1.88%2.15%1.05%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XESG.TO and VRE.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.30% for VRE.TO.

XESG.TO is categorized as Canada Equities, while VRE.TO is REIT. XESG.TO tracks Morningstar Canada GR CAD, while VRE.TO tracks FTSE CA All Cap RE Capped 25% Idx. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.16% for XESG.TO and 0.30% for VRE.TO.

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