XRE.TO vs. HCRE.TO
XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and HCRE.TO (Global X Equal Weight Canadian REITs Index Corporate Class ETF) are both REIT funds - XRE.TO tracks the Morningstar DM REIT NR CAD while HCRE.TO tracks the Solactive Equal Weight Canada REIT Index (Total Return). Both are passively managed. Over the past 5 years, XRE.TO returned 1.97%/yr vs 3.98%/yr for HCRE.TO. A 0.68 correlation means they provide meaningful diversification when combined. XRE.TO charges 0.61%/yr vs 0.30%/yr for HCRE.TO.
Performance
XRE.TO vs. HCRE.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 HCRE.TO's 9.39% 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%
HCRE.TO
- 1D
- -0.47%
- 1M
- 0.32%
- YTD
- 9.39%
- 6M
- 12.37%
- 1Y
- 12.73%
- 3Y*
- 8.92%
- 5Y*
- 3.98%
- 10Y*
- —
XRE.TO vs. HCRE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XRE.TO iShares S&P/TSX Capped REIT Index ETF | 10.05% | 8.89% | -2.52% | 1.88% | -17.34% | 32.49% | -13.63% | 15.05% |
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class ETF | 9.39% | 12.54% | 3.71% | 0.93% | -17.12% | 33.69% | -6.72% | 18.00% |
Correlation
The correlation between XRE.TO and HCRE.TO is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2019 | 0.68 |
The correlation between XRE.TO and HCRE.TO shifts across timeframes, from 0.56 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.
XRE.TO vs. HCRE.TO - Sectors Allocation Comparison
Sectors
XRE.TO
HCRE.TO
Real Estate
Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Energy
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Financial Services
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Healthcare
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Industrials
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Technology
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Utilities
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Real Estate
XRE.TO
HCRE.TO
Basic Materials
XRE.TO
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HCRE.TO
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Communication Services
XRE.TO
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HCRE.TO
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Consumer Cyclical
XRE.TO
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HCRE.TO
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Consumer Defensive
XRE.TO
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HCRE.TO
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Energy
XRE.TO
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HCRE.TO
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Financial Services
XRE.TO
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HCRE.TO
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Healthcare
XRE.TO
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HCRE.TO
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Industrials
XRE.TO
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HCRE.TO
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Technology
XRE.TO
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HCRE.TO
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Utilities
XRE.TO
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HCRE.TO
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Return for Risk
XRE.TO vs. HCRE.TO — Risk / Return Rank
XRE.TO
HCRE.TO
XRE.TO vs. HCRE.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 Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.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 | HCRE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.65 | +0.05 |
| Martin ratioReturn relative to average drawdown | 4.23 | 4.62 | -0.39 |
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 | HCRE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.07 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.27 | -0.14 |
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 | 0.35 | +0.14 |
Drawdowns
XRE.TO vs. HCRE.TO - Drawdown Comparison
The maximum XRE.TO drawdown since its inception was -57.06%, which is greater than HCRE.TO's maximum drawdown of -43.39%. Use the drawdown chart below to compare losses from any high point for XRE.TO and HCRE.TO.
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Drawdown Indicators
| XRE.TO | HCRE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.06% | -43.39% | -13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -7.76% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -18.85% | -2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -32.87% | +2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -46.58% | — | — |
Current DrawdownCurrent decline from peak | -3.53% | -1.09% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -12.37% | +2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.76% | +0.24% |
Volatility
XRE.TO vs. HCRE.TO - Volatility Comparison
iShares S&P/TSX Capped REIT Index ETF (XRE.TO) and Global X Equal Weight Canadian REITs Index Corporate Class ETF (HCRE.TO) have volatilities of 3.32% and 3.28%, 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
| XRE.TO | HCRE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 3.28% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 9.23% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 11.95% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 17.74% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 21.62% | -4.05% |
XRE.TO vs. HCRE.TO - Expense Ratio Comparison
XRE.TO has a 0.61% expense ratio, which is higher than HCRE.TO's 0.30% expense ratio.
Dividends
XRE.TO vs. HCRE.TO - Dividend Comparison
XRE.TO's dividend yield for the trailing twelve months is around 4.47%, while HCRE.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCRE.TO Global X Equal Weight Canadian REITs Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 HCRE.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HCRE.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HCRE.TO is cheaper with a 0.30% expense ratio, compared with 0.61% for XRE.TO.
XRE.TO tracks Morningstar DM REIT NR CAD, while HCRE.TO tracks Solactive Equal Weight Canada REIT Index (Total Return). They also come from different issuers: iShares and Global X. Their fees differ too: 0.61% for XRE.TO and 0.30% for HCRE.TO.
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