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

XRE.TO vs. IJR

Last updated Jun 9, 2026

XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - XRE.TO is a REIT fund tracking the Morningstar DM REIT NR CAD, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, XRE.TO returned 4.80%/yr vs 11.63%/yr for IJR. At a 0.38 correlation, their price movements are largely independent. XRE.TO charges 0.61%/yr vs 0.06%/yr for IJR.

Performance

XRE.TO vs. IJR - 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 iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XRE.TO is traded in CAD, while IJR is traded in USD. To make them comparable, the IJR values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XRE.TO achieves a 10.81% return, which is significantly lower than IJR's 17.60% return. Over the past 10 years, XRE.TO has underperformed IJR with an annualized return of 4.80%, while IJR has yielded a comparatively higher 11.63% annualized return.

XRE.TO

1D
-0.12%
1M
0.70%
YTD
10.81%
6M
14.26%
1Y
12.35%
3Y*
5.57%
5Y*
1.77%
10Y*
4.80%

IJR

1D
0.93%
1M
2.25%
YTD
17.60%
6M
16.03%
1Y
33.12%
3Y*
15.41%
5Y*
8.38%
10Y*
11.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRE.TO vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		10.81%8.89%-2.52%1.88%-17.34%32.54%-13.58%21.98%5.72%9.33%
IJR
iShares Core S&P Small-Cap ETF		17.60%1.06%17.82%13.30%-10.89%26.52%8.64%17.76%-0.82%5.49%

Correlation

The correlation between XRE.TO and IJR is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.38

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

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (10Y)
Calculated over the trailing 10-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Jul 7, 2006

0.38

The correlation between XRE.TO and IJR shifts across timeframes, from 0.38 (all time) to 0.49 (5 years), reflecting how their relationship changes across market environments.

XRE.TO vs. IJR - Sectors Allocation Comparison

Sectors
XRE.TO
IJR

Real Estate

100.0%
7.6%

Basic Materials

-

5.1%

Communication Services

-

3.6%

Consumer Cyclical

-

13.4%

Consumer Defensive

-

3.5%

Energy

-

5.9%

Financial Services

-

16.8%

Healthcare

-

11.1%

Industrials

-

15.5%

Technology

-

15.5%

Utilities

-

2.0%

Real Estate

XRE.TO
100.0%
IJR
7.6%

Basic Materials

XRE.TO

-

IJR
5.1%

Communication Services

XRE.TO

-

IJR
3.6%

Consumer Cyclical

XRE.TO

-

IJR
13.4%

Consumer Defensive

XRE.TO

-

IJR
3.5%

Energy

XRE.TO

-

IJR
5.9%

Financial Services

XRE.TO

-

IJR
16.8%

Healthcare

XRE.TO

-

IJR
11.1%

Industrials

XRE.TO

-

IJR
15.5%

Technology

XRE.TO

-

IJR
15.5%

Utilities

XRE.TO

-

IJR
2.0%

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

iShares Core S&P Small-Cap 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 IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR

Return for Risk

XRE.TO vs. IJR — 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: 3232
Overall Rank
XRE.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XRE.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
XRE.TO Omega Ratio Rank: 2929
Omega Ratio Rank
XRE.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
XRE.TO Martin Ratio Rank: 3131
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 6363
Overall Rank
IJR Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 6060
Sortino Ratio Rank
IJR Omega Ratio Rank: 5353
Omega Ratio Rank
IJR Calmar Ratio Rank: 7676
Calmar Ratio Rank
IJR Martin Ratio Rank: 6969
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. IJR - 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 Core S&P Small-Cap ETF (IJR). 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.TOIJRDifference
Sharpe ratioReturn per unit of total volatility
1.06
1.82

-0.75

Sortino ratioReturn per unit of downside risk
1.59
2.66

-1.07

Omega ratioGain probability vs. loss probability

1.18

1.31

-0.13

Calmar ratioReturn relative to maximum drawdown

1.65

3.93

-2.28

Martin ratioReturn relative to average drawdown

4.13

13.04

-8.91

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. IJR - Sharpe Ratio Comparison

The current XRE.TO Sharpe Ratio is 1.06, which is lower than the IJR Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of XRE.TO and IJR, 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.TOIJRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.06

1.82

-0.75

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.11

0.38

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.27

0.49

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.45

-0.07

Drawdowns

XRE.TO vs. IJR - Drawdown Comparison

The maximum XRE.TO drawdown since its inception was -57.01%, which is greater than IJR's maximum drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for XRE.TO and IJR.

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Drawdown Indicators

XRE.TOIJRDifference

Max Drawdown

Largest peak-to-trough decline

-57.01%

-51.00%

-6.01%

Max Drawdown (1Y)

Largest decline over 1 year

-7.51%

-8.46%

+0.95%

Max Drawdown (3Y)

Largest decline over 3 years

-20.91%

-26.60%

+5.69%

Max Drawdown (5Y)

Largest decline over 5 years

-30.53%

-26.60%

-3.93%

Max Drawdown (10Y)

Largest decline over 10 years

-46.58%

-38.61%

-7.97%

Current Drawdown

Current decline from peak

-2.86%

-0.83%

-2.03%

Average Drawdown

Average peak-to-trough decline

-10.78%

-9.30%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

2.55%

+0.45%

Volatility

XRE.TO vs. IJR - Volatility Comparison

The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.35%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 5.14%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XRE.TOIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.35%

5.14%

-1.79%

Volatility (6M)

Calculated over the trailing 6-month period

8.61%

12.52%

-3.91%

Volatility (1Y)

Calculated over the trailing 1-year period

11.67%

18.34%

-6.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.17%

22.19%

-6.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.58%

23.66%

-6.08%

XRE.TO vs. IJR - Expense Ratio Comparison

XRE.TO has a 0.61% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

XRE.TO vs. IJR - Dividend Comparison

XRE.TO's dividend yield for the trailing twelve months is around 4.44%, more than IJR's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.15%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		4.44%5.00%5.55%4.52%4.85%2.62%4.50%4.88%4.86%4.77%5.27%5.66%

Frequently Asked Questions

XRE.TO and IJR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IJR is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IJR is cheaper with a 0.06% expense ratio, compared with 0.61% for XRE.TO.

XRE.TO is categorized as REIT, while IJR is Small Cap Blend Equities. XRE.TO tracks Morningstar DM REIT NR CAD, while IJR tracks S&P SmallCap 600 Index. Their fees differ too: 0.61% for XRE.TO and 0.06% for IJR.

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