XRE.TO vs. REIT

Last updated Jun 5, 2026

XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and REIT (ALPS Active REIT ETF) are both REIT funds. XRE.TO is passively managed, while REIT is actively managed. Over the past 5 years, XRE.TO returned 1.97%/yr vs 7.63%/yr for REIT. A 0.55 correlation means they provide meaningful diversification when combined. XRE.TO charges 0.61%/yr vs 0.68%/yr for REIT.

Performance

XRE.TO vs. REIT - 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 ALPS Active REIT ETF (REIT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XRE.TO is traded in CAD, while REIT is traded in USD. To make them comparable, the REIT 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 10.05% return, which is significantly lower than REIT's 15.70% 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%

REIT

• 1D: 1.28%
• 1M: 3.22%
• YTD: 15.70%
• 6M: 13.66%
• 1Y: 16.77%
• 3Y*: 12.29%
• 5Y*: 7.63%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XRE.TO vs. REIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XRE.TO iShares S&P/TSX Capped REIT Index ETF	10.05%	8.89%	-2.52%	1.88%	-17.34%	27.23%
REIT ALPS Active REIT ETF	15.70%	-5.11%	16.31%	11.23%	-15.62%	32.52%

Correlation

The correlation between XRE.TO and REIT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021	0.55

The correlation between XRE.TO and REIT has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

XRE.TO vs. REIT - Sectors Allocation Comparison

Sectors	XRE.TO	REIT
Real Estate	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XRE.TO vs. REIT — 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: 31
XRE.TO Sharpe Ratio Rank: 31
XRE.TO Sortino Ratio Rank: 31
XRE.TO Omega Ratio Rank: 28
XRE.TO Calmar Ratio Rank: 35
XRE.TO Martin Ratio Rank: 30

REIT

REIT Risk / Return Rank: 35
REIT Sharpe Ratio Rank: 33
REIT Sortino Ratio Rank: 30
REIT Omega Ratio Rank: 31
REIT Calmar Ratio Rank: 42
REIT Martin Ratio Rank: 38

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. REIT - 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 ALPS Active REIT ETF (REIT). 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	REIT	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.30	-0.21
Sortino ratio: Return per unit of downside risk	1.62	1.76	-0.14
Omega ratio: Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio: Return relative to maximum drawdown	1.69	2.49	-0.79
Martin ratio: Return relative to average drawdown	4.23	6.23	-2.00
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. REIT - Sharpe Ratio Comparison

The current XRE.TO Sharpe Ratio is 1.09, which is comparable to the REIT Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of XRE.TO and REIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XRE.TO	REIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	1.30	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.46	-0.33
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	0.55	-0.06

Drawdowns

XRE.TO vs. REIT - Drawdown Comparison

The maximum XRE.TO drawdown since its inception was -57.06%, which is greater than REIT's maximum drawdown of -21.80%. Use the drawdown chart below to compare losses from any high point for XRE.TO and REIT.

Drawdown Indicators

	XRE.TO	REIT	Difference
Max Drawdown Largest peak-to-trough decline	-57.06%	-21.80%	-35.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.51%	-6.77%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	-16.82%	-4.09%
Max Drawdown (5Y) Largest decline over 5 years	-30.53%	-21.80%	-8.73%
Max Drawdown (10Y) Largest decline over 10 years	-46.58%	—	—
Current Drawdown Current decline from peak	-3.53%	-0.84%	-2.69%
Average Drawdown Average peak-to-trough decline	-9.66%	-7.86%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.70%	+0.30%

Volatility

XRE.TO vs. REIT - Volatility Comparison

The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.32%, while ALPS Active REIT ETF (REIT) has a volatility of 3.80%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than REIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XRE.TO	REIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.80%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	9.39%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	12.96%	-1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	16.78%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	16.76%	+0.81%

XRE.TO vs. REIT - Expense Ratio Comparison

XRE.TO has a 0.61% expense ratio, which is lower than REIT's 0.68% expense ratio.

Dividends

XRE.TO vs. REIT - Dividend Comparison

XRE.TO's dividend yield for the trailing twelve months is around 4.47%, more than REIT's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REIT ALPS Active REIT ETF	2.76%	3.20%	3.06%	3.13%	2.81%	4.71%	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

Can I hold both XRE.TO and REIT in my portfolio?

XRE.TO and REIT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRE.TO or REIT?

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.

Which ETF is cheaper, XRE.TO or REIT?

XRE.TO is cheaper with a 0.61% expense ratio, compared with 0.68% for REIT.

What is the main difference between XRE.TO and REIT?

They also come from different issuers: iShares and ALPS. Their fees differ too: 0.61% for XRE.TO and 0.68% for REIT.