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XRE.TO vs. CASH.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XRE.TO vs. CASH.TO

Last updated Jun 5, 2026

XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and CASH.TO (Global X High Interest Savings ETF) are both exchange-traded funds - XRE.TO is a REIT fund tracking the Morningstar DM REIT NR CAD, while CASH.TO is a Money Market fund actively managed by Global X. XRE.TO is passively managed, while CASH.TO is actively managed. Over the past 3 years, XRE.TO returned 5.22%/yr vs 3.62%/yr for CASH.TO. At a 0.02 correlation, their price movements are largely independent. XRE.TO charges 0.61%/yr vs 0.11%/yr for CASH.TO.

Performance

XRE.TO vs. CASH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped REIT Index ETF (XRE.TO) and Global X High Interest Savings ETF (CASH.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, XRE.TO achieves a 10.05% return, which is significantly higher than CASH.TO's 0.84% return.

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%

CASH.TO

1D
0.01%
1M
0.16%
YTD
0.84%
6M
1.02%
1Y
2.23%
3Y*
3.62%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRE.TO vs. CASH.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		10.05%8.89%-2.52%1.88%-17.34%-0.67%
CASH.TO
Global X High Interest Savings ETF		0.84%2.45%4.53%5.11%2.39%0.08%

Correlation

The correlation between XRE.TO and CASH.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.11

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

0.03

Correlation (All Time)
Calculated using the full available price history since Nov 4, 2021

0.02

Compare stocks, funds, or ETFs

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

iShares S&P/TSX Capped REIT Index ETF

Global X High Interest Savings ETF

Often compared with XRE.TO:
XRE.TO vs. ZRE.TOXRE.TO vs. VRE.TOXRE.TO vs. CGR.TOXRE.TO vs. XIC.TOXRE.TO vs. XDIV.TOXRE.TO vs. XBB.TOXRE.TO vs. VOO
Often compared with CASH.TO:
CASH.TO vs. ZMMK.TOCASH.TO vs. CBIL.TOCASH.TO vs. HSAV.TOCASH.TO vs. PSA.TOCASH.TO vs. CMR.TOCASH.TO vs. SGOVCASH.TO vs. TCSH.TO

Return for Risk

XRE.TO vs. CASH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XRE.TO
XRE.TO Risk / Return Rank: 3131
Overall Rank
XRE.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
XRE.TO Sortino Ratio Rank: 3131
Sortino Ratio Rank
XRE.TO Omega Ratio Rank: 2828
Omega Ratio Rank
XRE.TO Calmar Ratio Rank: 3535
Calmar Ratio Rank
XRE.TO Martin Ratio Rank: 3030
Martin Ratio Rank
CASH.TO
CASH.TO Risk / Return Rank: 100100
Overall Rank
CASH.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CASH.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
CASH.TO Omega Ratio Rank: 100100
Omega Ratio Rank
CASH.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
CASH.TO Martin Ratio Rank: 100100
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.

XRE.TO vs. CASH.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 Global X High Interest Savings ETF (CASH.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.TOCASH.TODifference
Sharpe ratioReturn per unit of total volatility
1.09
10.38

-9.29

Sortino ratioReturn per unit of downside risk
1.62
32.63

-31.01

Omega ratioGain probability vs. loss probability

1.19

7.50

-6.31

Calmar ratioReturn relative to maximum drawdown

1.69

112.00

-110.31

Martin ratioReturn relative to average drawdown

4.23

470.40

-466.16

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

XRE.TO vs. CASH.TO - Sharpe Ratio Comparison

The current XRE.TO Sharpe Ratio is 1.09, which is lower than the CASH.TO Sharpe Ratio of 10.38. The chart below compares the historical Sharpe Ratios of XRE.TO and CASH.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

XRE.TOCASH.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

10.38

-9.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.12

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

5.52

-5.03

Drawdowns

XRE.TO vs. CASH.TO - Drawdown Comparison

The maximum XRE.TO drawdown since its inception was -57.06%, which is greater than CASH.TO's maximum drawdown of -0.80%. Use the drawdown chart below to compare losses from any high point for XRE.TO and CASH.TO.

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Drawdown Indicators

XRE.TOCASH.TODifference

Max Drawdown

Largest peak-to-trough decline

-57.06%

-0.80%

-56.26%

Max Drawdown (1Y)

Largest decline over 1 year

-7.51%

-0.02%

-7.49%

Max Drawdown (3Y)

Largest decline over 3 years

-20.91%

-0.06%

-20.85%

Max Drawdown (5Y)

Largest decline over 5 years

-30.53%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-46.58%

—

—

Current Drawdown

Current decline from peak

-3.53%

0.00%

-3.53%

Average Drawdown

Average peak-to-trough decline

-9.66%

-0.00%

-9.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

0.00%

+3.00%

Volatility

XRE.TO vs. CASH.TO - Volatility Comparison

iShares S&P/TSX Capped REIT Index ETF (XRE.TO) has a higher volatility of 3.32% compared to Global X High Interest Savings ETF (CASH.TO) at 0.06%. This indicates that XRE.TO's price experiences larger fluctuations and is considered to be riskier than CASH.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.TOCASH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.32%

0.06%

+3.26%

Volatility (6M)

Calculated over the trailing 6-month period

8.62%

0.13%

+8.49%

Volatility (1Y)

Calculated over the trailing 1-year period

11.66%

0.22%

+11.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.18%

0.61%

+15.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.57%

0.61%

+16.96%

XRE.TO vs. CASH.TO - Expense Ratio Comparison

XRE.TO has a 0.61% expense ratio, which is higher than CASH.TO's 0.11% expense ratio.

Dividends

XRE.TO vs. CASH.TO - Dividend Comparison

XRE.TO's dividend yield for the trailing twelve months is around 4.47%, more than CASH.TO's 2.19% yield.

PositionTTM20252024202320222021202020192018201720162015
CASH.TO
Global X High Interest Savings ETF		2.19%2.53%4.37%5.06%2.30%0.10%0.00%0.00%0.00%0.00%0.00%0.00%
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 CASH.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CASH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CASH.TO is cheaper with a 0.11% expense ratio, compared with 0.61% for XRE.TO.

XRE.TO is categorized as REIT, while CASH.TO is Money Market. They also come from different issuers: iShares and Global X. Their fees differ too: 0.61% for XRE.TO and 0.11% for CASH.TO.

Portfolio Optimizer

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