XRE.TO vs. BEI-UN.TO
XRE.TO (iShares S&P/TSX Capped REIT Index ETF) is REIT fund tracking the Morningstar DM REIT NR CAD, while BEI-UN.TO (Boardwalk Real Estate Investment Trust) is a stock. Over the past 10 years, XRE.TO returned 4.82%/yr vs 4.81%/yr for BEI-UN.TO. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
XRE.TO vs. BEI-UN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XRE.TO achieves a 10.05% return, which is significantly higher than BEI-UN.TO's -0.01% return. Both investments have delivered pretty close results over the past 10 years, with XRE.TO having a 4.82% annualized return and BEI-UN.TO not far behind at 4.81%.
XRE.TO
- 1D
- 0.45%
- 1M
- 0.50%
- YTD
- 10.05%
- 6M
- 12.65%
- 1Y
- 12.66%
- 3Y*
- 5.22%
- 5Y*
- 1.97%
- 10Y*
- 4.82%
BEI-UN.TO
- 1D
- 0.35%
- 1M
- -5.21%
- YTD
- -0.01%
- 6M
- 5.12%
- 1Y
- -4.49%
- 3Y*
- 4.54%
- 5Y*
- 12.96%
- 10Y*
- 4.81%
XRE.TO vs. BEI-UN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRE.TO iShares S&P/TSX Capped REIT Index ETF | 10.05% | 8.89% | -2.52% | 1.88% | -17.34% | 32.49% | -13.63% | 21.91% | 5.66% | 9.27% |
BEI-UN.TO Boardwalk Real Estate Investment Trust | -0.01% | 5.10% | -8.22% | 47.04% | -7.90% | 66.35% | -24.11% | 24.38% | -10.29% | -6.75% |
Correlation
The correlation between XRE.TO and BEI-UN.TO is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2002 | 0.56 |
The correlation between XRE.TO and BEI-UN.TO shifts across timeframes, from 0.56 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XRE.TO vs. BEI-UN.TO — Risk / Return Rank
XRE.TO
BEI-UN.TO
XRE.TO vs. BEI-UN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) and Boardwalk Real Estate Investment Trust (BEI-UN.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.
| XRE.TO | BEI-UN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.97 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | -0.30 | +1.99 |
| Martin ratioReturn relative to average drawdown | 4.23 | -0.59 | +4.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XRE.TO | BEI-UN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | -0.27 | +1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.63 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.17 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | -0.61 | +1.09 |
Drawdowns
XRE.TO vs. BEI-UN.TO - Drawdown Comparison
The maximum XRE.TO drawdown since its inception was -57.06%, smaller than the maximum BEI-UN.TO drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for XRE.TO and BEI-UN.TO.
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Drawdown Indicators
| XRE.TO | BEI-UN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.06% | -100.00% | +42.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -15.18% | +7.67% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -33.41% | +12.50% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -33.41% | +2.88% |
Max Drawdown (10Y)Largest decline over 10 years | -46.58% | -69.02% | +22.44% |
Current DrawdownCurrent decline from peak | -3.53% | -99.95% | +96.42% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -98.96% | +89.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 7.64% | -4.64% |
Volatility
XRE.TO vs. BEI-UN.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.32%, while Boardwalk Real Estate Investment Trust (BEI-UN.TO) has a volatility of 4.58%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than BEI-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XRE.TO | BEI-UN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 4.58% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 12.44% | -3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 16.67% | -5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 20.80% | -4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 28.64% | -11.07% |
Dividends
XRE.TO vs. BEI-UN.TO - Dividend Comparison
XRE.TO's dividend yield for the trailing twelve months is around 4.47%, less than BEI-UN.TO's 4.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BEI-UN.TO Boardwalk Real Estate Investment Trust | 4.85% | 4.68% | 2.17% | 1.62% | 2.16% | 1.83% | 2.97% | 2.18% | 2.65% | 5.22% | 4.59% | 6.41% |
XRE.TO iShares S&P/TSX Capped REIT Index ETF | 4.47% | 5.00% | 5.55% | 4.52% | 4.85% | 2.59% | 4.45% | 4.82% | 4.80% | 4.71% | 5.20% | 5.59% |
Frequently Asked Questions
XRE.TO and BEI-UN.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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