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XRE.TO vs. REI-UN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XRE.TO vs. REI-UN.TO

Last updated Jun 5, 2026

XRE.TO (iShares S&P/TSX Capped REIT Index ETF) is REIT fund tracking the Morningstar DM REIT NR CAD, while REI-UN.TO (RioCan Real Estate Investment Trust) is a stock. Over the past 10 years, XRE.TO returned 4.82%/yr vs 3.70%/yr for REI-UN.TO. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

XRE.TO vs. REI-UN.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 RioCan Real Estate Investment Trust (REI-UN.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 lower than REI-UN.TO's 21.09% return. Over the past 10 years, XRE.TO has outperformed REI-UN.TO with an annualized return of 4.82%, while REI-UN.TO has yielded a comparatively lower 3.70% 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%

REI-UN.TO

1D
0.73%
1M
2.53%
YTD
21.09%
6M
24.11%
1Y
36.66%
3Y*
9.57%
5Y*
6.28%
10Y*
3.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRE.TO vs. REI-UN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
REI-UN.TO
RioCan Real Estate Investment Trust		21.09%9.00%4.33%-6.86%-3.42%43.34%-31.78%18.79%3.72%-3.23%

Correlation

The correlation between XRE.TO and REI-UN.TO is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

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

0.85

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

0.85

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

0.82

Correlation (All Time)
Calculated using the full available price history since Oct 23, 2002

0.76

The correlation between XRE.TO and REI-UN.TO has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

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

RioCan Real Estate Investment Trust

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 REI-UN.TO:
REI-UN.TO vs. SRU-UN.TOREI-UN.TO vs. CRT-UN.TOREI-UN.TO vs. AP-UN.TOREI-UN.TO vs. FCR-UN.TOREI-UN.TO vs. NWH-UN.TOREI-UN.TO vs. BAM.TOREI-UN.TO vs. VDY.TO

Return for Risk

XRE.TO vs. REI-UN.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
REI-UN.TO
REI-UN.TO Risk / Return Rank: 9292
Overall Rank
REI-UN.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
REI-UN.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
REI-UN.TO Omega Ratio Rank: 9090
Omega Ratio Rank
REI-UN.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
REI-UN.TO Martin Ratio Rank: 9393
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. REI-UN.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 RioCan Real Estate Investment Trust (REI-UN.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.TOREI-UN.TODifference
Sharpe ratioReturn per unit of total volatility
1.09
2.54

-1.45

Sortino ratioReturn per unit of downside risk
1.62
3.62

-1.99

Omega ratioGain probability vs. loss probability

1.19

1.43

-0.24

Calmar ratioReturn relative to maximum drawdown

1.69

5.93

-4.24

Martin ratioReturn relative to average drawdown

4.23

16.05

-11.82

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. REI-UN.TO - Sharpe Ratio Comparison

The current XRE.TO Sharpe Ratio is 1.09, which is lower than the REI-UN.TO Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of XRE.TO and REI-UN.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.TOREI-UN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

2.54

-1.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.12

0.34

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.17

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

-0.72

+1.21

Drawdowns

XRE.TO vs. REI-UN.TO - Drawdown Comparison

The maximum XRE.TO drawdown since its inception was -57.06%, smaller than the maximum REI-UN.TO drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for XRE.TO and REI-UN.TO.

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Drawdown Indicators

XRE.TOREI-UN.TODifference

Max Drawdown

Largest peak-to-trough decline

-57.06%

-100.00%

+42.94%

Max Drawdown (1Y)

Largest decline over 1 year

-7.51%

-6.21%

-1.30%

Max Drawdown (3Y)

Largest decline over 3 years

-20.91%

-18.95%

-1.96%

Max Drawdown (5Y)

Largest decline over 5 years

-30.53%

-31.08%

+0.55%

Max Drawdown (10Y)

Largest decline over 10 years

-46.58%

-54.93%

+8.35%

Current Drawdown

Current decline from peak

-3.53%

-99.91%

+96.38%

Average Drawdown

Average peak-to-trough decline

-9.66%

-93.00%

+83.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

2.29%

+0.71%

Volatility

XRE.TO vs. REI-UN.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.32%, while RioCan Real Estate Investment Trust (REI-UN.TO) has a volatility of 4.47%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than REI-UN.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.TOREI-UN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.32%

4.47%

-1.15%

Volatility (6M)

Calculated over the trailing 6-month period

8.62%

11.46%

-2.84%

Volatility (1Y)

Calculated over the trailing 1-year period

11.66%

14.52%

-2.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.18%

18.42%

-2.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.57%

21.98%

-4.41%

Dividends

XRE.TO vs. REI-UN.TO - Dividend Comparison

XRE.TO's dividend yield for the trailing twelve months is around 4.47%, less than REI-UN.TO's 5.24% yield.

PositionTTM20252024202320222021202020192018201720162015
REI-UN.TO
RioCan Real Estate Investment Trust		5.24%6.17%6.06%5.77%4.80%4.18%8.60%5.38%6.05%5.79%5.29%5.95%
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 REI-UN.TO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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