VS
Compare BMO Equal Weight REITs Index ETF (ZRE) vs Vanguard FTSE Canadian Capped REIT Index ETF (VRE) to find the best fit for your portfolio. ZRE and VRE provide the same top sector exposures: Finance. When evaluating costs, ZRE features a management fee (MER) of 0.55%, compared to 0.35% for VRE. Performance-wise, ZRE has returned 13.11% year-to-date with +$4 M in net flows, whereas VRE is at 4.44% with -$8 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
ZRE
VRE
| AuM | $640.80 M | $281.96 M |
| Management Fees | 0.55% | 0.35% |
| Exp. ratio | 0.61% | 0.39% |
| Tracking Difference | -0.74% | -0.33% |
Historical performance and flows
As of August 5, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZRE | -1.87% | +3.68% | +13.11% | +15.58% | +33.55% |
VRE | -2.05% | +4.55% | +4.44% | +0.73% | +22.79% | |
| Flows | ZRE | +$0 M | +$1 M | +$4 M | -$5 M | -$14 M |
VRE | -$4 M | -$7 M | -$8 M | +$2 M | -$47 M |
ZRE vs VRE exposure
Countries
ZRE
Canada
95.45%
VRE
Canada
99.65%
Sectors
ZRE
Finance
100.00%
VRE
Finance
99.65%
As of August 5, 2026
Top 10 Holdings
ZRE
Primaris Real Estate Investment Trust
5.75%
RioCan Real Estate Investment Trust
5.48%
Killam Apartment REIT
5.25%
SmartCentres Real Estate Investment Trust
5.23%
Dream Industrial Real Estate Investment Trust
5.23%
Slate Grocery REIT
5.22%
Granite Real Estate Investment Trust
5.18%
Allied Properties Real Estate Investment Trust
5.18%
Crombie Real Estate Investment Trust
5.13%
First Capital Real Estate Investment Trust
5.08%
VRE
FirstService Corp.
11.11%
Chartwell Retirement Residences
9.62%
RioCan Real Estate Investment Trust
8.77%
Colliers International Group, Inc.
7.80%
Granite Real Estate Investment Trust
7.70%
Canadian Apartment Properties Real Estate Investment Trust
7.12%
First Capital Real Estate Investment Trust
6.54%
Choice Properties Real Estate Investment Trust
5.76%
Dream Industrial Real Estate Investment Trust
5.24%
SmartCentres Real Estate Investment Trust
5.21%
Diversification
ZRE
Total weight of top 10 holdings out of 20 total
52.73%
VRE
Total weight of top 10 holdings out of 19 total
74.88%
Characteristics
Compare
ZRE
VRE
| Provider | BMO | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada REIT Total Return Index - CAD | FTSE Canada All Cap Real Estate Capped 25% Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.30% | 2.71% |
| Meets ESG criteria | No | No |
| Inception Date | May 19, 2010 | November 2, 2012 |
Frequently asked questions about ZRE and VRE
Which ETF has performed better year to date: ZRE or VRE?
As of August 5, 2026, ZRE has returned 13.11% year to date, while VRE has returned 4.44%. ZRE is ahead on YTD performance.
Which ETF is larger by assets under management: ZRE or VRE?
As of August 5, 2026, ZRE manages $640.80 M in assets, while VRE manages $281.96 M. ZRE is the larger fund by AUM.
How are ZRE and VRE managed?
ZRE is passively managed by BMO. It tracks the Solactive Equal Weight Canada REIT Total Return Index - CAD benchmark. VRE is passively managed by Vanguard. It tracks the FTSE Canada All Cap Real Estate Capped 25% Total Return Index - CAD benchmark.
What sectors do ZRE and VRE emphasize?
ZRE is most exposed to Finance. VRE is most exposed to Finance.
Which ETF is attracting more investor flows: ZRE or VRE?
Year to date, ZRE has seen +$3.80 M in net flows, compared with -$8.17 M for VRE. ZRE has attracted more net investor money so far.
How do the fees of ZRE and VRE compare?
ZRE has an expense ratio of 0.61%, while VRE has an expense ratio of 0.39%.
What are the top holdings of ZRE and VRE?
ZRE's largest holdings include Primaris Real Estate Investment Trust, RioCan Real Estate Investment Trust, and Killam Apartment REIT. VRE's top holdings include FirstService Corp., Chartwell Retirement Residences, and RioCan Real Estate Investment Trust.
Which ETF is more diversified: ZRE or VRE?
ZRE holds 20 securities, while VRE holds 19. On holdings count, ZRE is the more diversified portfolio.
Recent articles about ZRE and VRE
Build Canada Homes: A Boost for Real Estate ETFs?
The Canadian government's $26B prefab housing plan and a U.S. tariff ruling have injected optimism into real estate markets, with analysts anticipating gains for REITs and construction-focused funds.
Posted on 6/2/2025 by ETF Market Canada inReal Estate
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.