XRE.TO vs. HGR.TO
XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and HGR.TO (Harvest Global REIT Leaders Income ETF) are both REIT funds. XRE.TO is passively managed, while HGR.TO is actively managed. Over the past 5 years, XRE.TO returned 1.97%/yr vs -2.30%/yr for HGR.TO. At a 0.49 correlation, their price movements are largely independent. XRE.TO charges 0.61%/yr vs 0.85%/yr for HGR.TO.
Performance
XRE.TO vs. HGR.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 HGR.TO's 6.32% 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%
HGR.TO
- 1D
- 1.12%
- 1M
- 1.22%
- YTD
- 6.32%
- 6M
- 6.64%
- 1Y
- 2.92%
- 3Y*
- 4.76%
- 5Y*
- -2.30%
- 10Y*
- —
XRE.TO vs. HGR.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% | 5.66% |
HGR.TO Harvest Global REIT Leaders Income ETF | 6.32% | -0.91% | 2.46% | 4.01% | -31.59% | 24.87% | -8.27% | 22.05% | -5.71% | 3.95% |
Correlation
The correlation between XRE.TO and HGR.TO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2017 | 0.49 |
The correlation between XRE.TO and HGR.TO has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.
XRE.TO vs. HGR.TO - Sectors Allocation Comparison
Sectors
XRE.TO
HGR.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
HGR.TO
Basic Materials
XRE.TO
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HGR.TO
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Communication Services
XRE.TO
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HGR.TO
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Consumer Cyclical
XRE.TO
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HGR.TO
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Consumer Defensive
XRE.TO
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HGR.TO
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Energy
XRE.TO
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HGR.TO
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Financial Services
XRE.TO
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HGR.TO
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Healthcare
XRE.TO
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HGR.TO
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Industrials
XRE.TO
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HGR.TO
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Technology
XRE.TO
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HGR.TO
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Utilities
XRE.TO
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HGR.TO
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Return for Risk
XRE.TO vs. HGR.TO — Risk / Return Rank
XRE.TO
HGR.TO
XRE.TO vs. HGR.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 Harvest Global REIT Leaders Income ETF (HGR.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 | HGR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.05 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.36 | +1.33 |
| Martin ratioReturn relative to average drawdown | 4.23 | 0.90 | +3.33 |
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 | HGR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.22 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | -0.14 | +0.26 |
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 | 0.03 | +0.46 |
Drawdowns
XRE.TO vs. HGR.TO - Drawdown Comparison
The maximum XRE.TO drawdown since its inception was -57.06%, which is greater than HGR.TO's maximum drawdown of -41.33%. Use the drawdown chart below to compare losses from any high point for XRE.TO and HGR.TO.
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Drawdown Indicators
| XRE.TO | HGR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.06% | -41.33% | -15.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -8.05% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -16.37% | -4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -41.33% | +10.80% |
Max Drawdown (10Y)Largest decline over 10 years | -46.58% | — | — |
Current DrawdownCurrent decline from peak | -3.53% | -23.48% | +19.95% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -16.82% | +7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.26% | -0.26% |
Volatility
XRE.TO vs. HGR.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.32%, while Harvest Global REIT Leaders Income ETF (HGR.TO) has a volatility of 4.00%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than HGR.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 | HGR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 4.00% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 10.40% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 13.46% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 16.82% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 18.31% | -0.74% |
XRE.TO vs. HGR.TO - Expense Ratio Comparison
XRE.TO has a 0.61% expense ratio, which is lower than HGR.TO's 0.85% expense ratio.
Dividends
XRE.TO vs. HGR.TO - Dividend Comparison
XRE.TO's dividend yield for the trailing twelve months is around 4.47%, less than HGR.TO's 10.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HGR.TO Harvest Global REIT Leaders Income ETF | 10.16% | 10.35% | 9.32% | 8.72% | 8.30% | 5.28% | 6.22% | 5.36% | 6.19% | 2.75% | 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 HGR.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRE.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRE.TO is cheaper with a 0.61% expense ratio, compared with 0.85% for HGR.TO.
They also come from different issuers: iShares and Harvest. Their fees differ too: 0.61% for XRE.TO and 0.85% for HGR.TO.
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