- ISIN
- US9220426848
- CUSIP
- 922042684
- Issuer
- Vanguard
- Inception Date
- Apr 19, 2011
- Category
- REIT
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
VGRNX Performance Chart
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) is up 1.7% since the beginning of the year. VGRNX is currently trading at $94 per share. Investors who bought $1,000 worth of VGRNX shares 5 years ago would now be looking at an investment worth $983.
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Returns By Period
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) has returned 1.65% so far this year and 7.42% over the past 12 months. Over the last ten years, VGRNX has returned 2.30% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares
- 1D
- 1.57%
- 1M
- 3.47%
- 6M
- -2.82%
- YTD
- 1.65%
- 1Y
- 7.42%
- 3Y*
- 8.11%
- 5Y*
- -0.35%
- 10Y*
- 2.30%
- ALL TIME*
- 3.56%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
VGRNX Monthly Returns History
Based on dividend-adjusted daily data since Nov 2, 2010, VGRNX's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2022 with a return of +12.8%, while the worst month was Mar 2020 at -21.8%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VGRNX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +9.0%, while the worst single day was Mar 16, 2020 at -10.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.60% | 5.52% | -12.65% | 6.82% | -2.43% | -2.91% | 4.20% | 1.65% | |||||
| 2025 | 1.55% | 0.66% | 0.37% | 6.31% | 2.70% | 4.29% | -1.75% | 4.19% | 1.24% | -1.15% | 1.33% | 0.63% | 22.02% |
| 2024 | -4.14% | -1.12% | 4.74% | -3.23% | 2.18% | -3.04% | 5.64% | 4.66% | 5.20% | -7.20% | -0.65% | -4.41% | -2.40% |
| 2023 | 6.12% | -5.06% | -2.75% | 3.43% | -6.12% | 1.59% | 5.41% | -3.74% | -3.99% | -4.54% | 9.74% | 7.80% | 6.35% |
| 2022 | -2.34% | -1.94% | 0.70% | -5.78% | -1.66% | -8.39% | 4.28% | -5.79% | -12.16% | -1.55% | 12.80% | -1.18% | -22.47% |
| 2021 | -2.27% | 3.23% | 1.73% | 2.66% | 2.79% | -0.97% | 0.07% | 1.77% | -4.48% | 2.30% | -3.55% | 2.61% | 5.63% |
Benchmark Metrics
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares has an annualized alpha of -3.53%, beta of 0.62, and R2 of 0.51 versus S&P 500 Index. Calculated based on daily prices since November 02, 2010.
- This fund participated in 97.47% of S&P 500 Index downside but only 61.80% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -3.53% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 0.62 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -3.53%
- Beta
- 0.62
- R²
- 0.51
- Upside Capture
- 61.80%
- Downside Capture
- 97.47%
Expense Ratio
VGRNX has an expense ratio of 0.11%, which is considered low.
Return for Risk
Risk / Return Rank
VGRNX ranks 12 for risk / return — above 12% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VGRNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.00 | -1.50 |
| Martin ratioReturn relative to average drawdown | 1.13 | 8.49 | -7.36 |
Dividends
Dividend History
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares provided a 4.63% dividend yield over the last twelve months, with an annual payout of $4.36 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.36 | $4.36 | $4.15 | $3.23 | $0.48 | $7.07 | $1.04 | $9.29 | $4.90 | $4.73 | $5.21 | $2.97 |
Dividend yield | 4.63% | 4.71% | 5.21% | 3.76% | 0.58% | 6.50% | 0.94% | 7.81% | 4.64% | 3.87% | 5.19% | 2.86% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.36 | $4.36 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.15 | $4.15 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.23 | $3.23 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.48 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.22 | $0.00 | $0.00 | $5.85 | $7.07 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares was 38.77%, occurring on Mar 23, 2020. Recovery took 301 trading sessions.
The current Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares drawdown is 7.90%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-38.77%Mar 2020 | 2mo 2d | 1y 2mo | 1y 4moJan 2020 - Jun 2021 | COVID crash2020 |
-35.59%Oct 2022 | 1y 4mo | 3y 3mo | 4y 8moJun 2021 - Feb 2026 | Bear market2022 |
-23.91%Oct 2011 | 5mo 3d | 11mo 10d | 1y 4moMay 2011 - Sep 2012 | — |
-21.38%Jan 2016 | 8mo 8d | 1y 3mo | 1y 12moMay 2015 - May 2017 | — |
-17.73%Oct 2018 | 8mo 28d | 1y 8d | 1y 9moJan 2018 - Nov 2019 | Rate-hike selloffLate 2018 |
Drawdown Indicators
| VGRNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -56.78% | +18.01% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -9.10% | -5.25% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -18.90% | +3.08% |
Max Drawdown (5Y)Largest decline over 5 years | -34.80% | -25.43% | -9.37% |
Max Drawdown (10Y)Largest decline over 10 years | -38.77% | -33.92% | -4.85% |
Current DrawdownCurrent decline from peak | -7.90% | -1.58% | -6.32% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -10.70% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.34% | 2.14% | +4.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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