XRE.TO vs. CMR.TO
XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XRE.TO is a REIT fund tracking the Morningstar DM REIT NR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XRE.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, XRE.TO returned 4.82%/yr vs 1.89%/yr for CMR.TO. At a correlation of -0.02, they often move in opposite directions. XRE.TO charges 0.61%/yr vs 0.14%/yr for CMR.TO.
Performance
XRE.TO vs. CMR.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 CMR.TO's 0.99% return. Over the past 10 years, XRE.TO has outperformed CMR.TO with an annualized return of 4.82%, while CMR.TO has yielded a comparatively lower 1.89% annualized 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%
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.05%
- 1Y
- 2.39%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
XRE.TO vs. CMR.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% |
CMR.TO iShares Premium Money Market ETF | 0.99% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between XRE.TO and CMR.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008 | -0.02 |
The correlation between XRE.TO and CMR.TO shifts across timeframes, from -0.02 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XRE.TO vs. CMR.TO — Risk / Return Rank
XRE.TO
CMR.TO
XRE.TO vs. CMR.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 iShares Premium Money Market ETF (CMR.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 | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.60 | ||
| Sortino ratioReturn per unit of downside risk | -19.68 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 9.64 | -8.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 25.66 | -23.96 |
| Martin ratioReturn relative to average drawdown | 4.23 | 188.94 | -184.71 |
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 | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 10.70 | -9.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 10.68 | -10.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 7.03 | -6.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 3.84 | -3.35 |
Drawdowns
XRE.TO vs. CMR.TO - Drawdown Comparison
The maximum XRE.TO drawdown since its inception was -57.06%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XRE.TO and CMR.TO.
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Drawdown Indicators
| XRE.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.06% | -0.52% | -56.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -0.09% | -7.42% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -0.09% | -20.82% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -0.09% | -30.44% |
Max Drawdown (10Y)Largest decline over 10 years | -46.58% | -0.14% | -46.44% |
Current DrawdownCurrent decline from peak | -3.53% | 0.00% | -3.53% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -0.01% | -9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.01% | +2.99% |
Volatility
XRE.TO vs. CMR.TO - Volatility Comparison
iShares S&P/TSX Capped REIT Index ETF (XRE.TO) has a higher volatility of 3.32% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XRE.TO's price experiences larger fluctuations and is considered to be riskier than CMR.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 | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 0.05% | +3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 0.18% | +8.44% |
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% | 0.28% | +15.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 0.27% | +17.30% |
XRE.TO vs. CMR.TO - Expense Ratio Comparison
XRE.TO has a 0.61% expense ratio, which is higher than CMR.TO's 0.14% expense ratio.
Dividends
XRE.TO vs. CMR.TO - Dividend Comparison
XRE.TO's dividend yield for the trailing twelve months is around 4.47%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
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 CMR.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.61% for XRE.TO.
XRE.TO is categorized as REIT, while CMR.TO is Money Market. Their fees differ too: 0.61% for XRE.TO and 0.14% for CMR.TO.
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