A side-by-side comparison of Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares (VNQI) and BMO Equal Weight REITs Index ETF (ZRE) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | VNQI | ZRE |
|---|---|---|
| YTD Return | -4.97% | -1.31%✓ |
| 1-Day Change | +0.73%✓ | -0.95% |
| 1-Week Change | -0.12%✓ | -3.45% |
| 1-Month Change | +0.33%✓ | -2.45% |
| Current Price | $42.66 | $21.86 |
| AUM | $3.27B✓ | $584M |
| MER (Expense Ratio) | 0.12% | — |
| Dividend Yield | 5.30%✓ | 4.76% |
| Distribution Frequency | NA | Monthly |
| Inception Date | 2010-11-01 | 2010-05-19 |
| Holdings Count | 657 | 10 |
| MorningStar Rating | — | — |
| Category | Global Real Estate | Global Real Estate |
| Beta | 0.94 | 0.88 |
| 52-Week High | $50.88 | $24.67 |
| 52-Week Low | $41.53 | $20.44 |
| 50-Day MA | $43.51 | $22.51 |
| 200-Day MA | $45.80 | $23.37 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | VNQI | ZRE |
|---|---|---|
| YTD | -4.97% | -1.31%✓ |
| 1 Year | -7.43% | +2.67%✓ |
| 3 Year | +10.43% | +12.25%✓ |
| 5 Year | -2.01% | +0.49%✓ |
| 10 Year | +1.90% | +6.92%✓ |
| 1Y Volatility | 18.24% | 14.03% |
| Sharpe Ratio (3Y) | 0.27 | 0.49 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | GMG | Goodman Group | 3.94% |
| 2 | 8802 | Mitsubishi Estate Co Ltd | 2.73% |
| 3 | 8801 | Mitsui Fudosan Co. Ltd. | 2.63% |
| 4 | 0016 | Sun Hung Kai Properties Ltd | 1.99% |
| 5 | 8830 | Sumitomo Realty & Development Co. | 1.88% |
| 6 | 1925 | Daiwa House Industry Co. Ltd. | 1.67% |
| 7 | SGRO | Segro Plc | 1.45% |
| 8 | VNA | Vonovia SE | 1.34% |
| 9 | SCG | Scentre Group | 1.24% |
| 10 | 0823 | Link Real Estate Investment Trust | 1.22% |
| 1 | SGR-UN | Slate Grocery REIT | 6.80% |
| 2 | BSRT-UN | BSR Real Estate Investment Trust | 6.02% |
| 3 | PMZ-UN | Primaris Retail R.E. Invest. Tr. Units | 5.61% |
| 4 | FCR-UN | First Capital Real Estate Investment Trust | 5.62% |
| 5 | REI-UN | RioCan Real Estate Investment Trust | 5.65% |
| 6 | CRT-UN | CT Real Estate Investment Trust | 5.55% |
| 7 | CRR-UN | Crombie Real Estate Investment Trust | 5.31% |
| 8 | VITL-UN | NorthWest Healthcare Properties Real Estate Investment Trust | 5.54% |
| 9 | CSH-UN | Chartwell Retirement Residences | 5.75% |
| 10 | SRU-UN | SmartCentres Real Estate Investment Trust | 5.57% |
Sector Weights
| Sector | VNQI | ZRE |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.63% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.38% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.66% | 0.00% |
| Real Estate | 100.23% | 100.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About VNQI
The fund employs an indexing investment approach designed to track the performance of the index, a float-adjusted, market-capitalization-weighted index that measures the equity market performance of international real estate stocks in both developed and emerging markets. The index is composed of stocks of publicly traded equity real estate investment trusts (known as REITs) and certain real estate management and development companies (REMDs).
About ZRE
BMO Equal Weight REITs Index ETF (ZRE.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both VNQI and ZRE are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, VNQI scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between VNQI and ZRE?
VNQI (Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares) and ZRE (BMO Equal Weight REITs Index ETF) are both Canadian-listed ETFs. Key differences include their AUM ($3.27B vs $584M), dividend yield (5.30% vs 4.76%), and year-to-date performance (-4.97% vs -1.31%).
Is VNQI better than ZRE?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy VNQI and ZRE on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both VNQI and ZRE should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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