- ISIN
- US9219088690
- CUSIP
- 921908869
- Issuer
- Vanguard
- Inception Date
- Dec 2, 2003
- Category
- REIT
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
- Assets Under Management
- $70B
Share Price Chart
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Performance
VGSNX Performance Chart
Vanguard Real Estate Index Fund Institutional Shares (VGSNX) is up 9.2% since the beginning of the year. VGSNX is currently trading at $21 per share. Investors who bought $1,000 worth of VGSNX shares 5 years ago would now be looking at an investment worth $1,136.
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Returns By Period
Vanguard Real Estate Index Fund Institutional Shares (VGSNX) has returned 9.15% so far this year and 10.59% over the past 12 months. Over the last ten years, VGSNX has returned 5.18% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard Real Estate Index Fund Institutional Shares
- 1D
- -0.05%
- 1M
- -1.27%
- YTD
- 9.15%
- 6M
- 9.43%
- 1Y
- 10.59%
- 3Y*
- 8.74%
- 5Y*
- 2.58%
- 10Y*
- 5.18%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VGSNX Monthly Returns History
Based on dividend-adjusted daily data since Dec 3, 2003, VGSNX's average daily return is +0.05%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +31.3%, while the worst month was Oct 2008 at -31.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, VGSNX closed higher 52% of trading days. The best single day was Nov 24, 2008 with a return of +18.6%, while the worst single day was Dec 1, 2008 at -19.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.63% | 5.37% | -6.34% | 8.59% | -0.66% | -0.10% | 9.15% | ||||||
| 2025 | 1.69% | 3.57% | -2.55% | -2.32% | 1.08% | 0.58% | 0.10% | 3.48% | 0.16% | -2.59% | 2.46% | -2.21% | 3.21% |
| 2024 | -6.07% | 2.01% | 1.93% | -8.01% | 4.58% | 1.97% | 7.78% | 5.30% | 3.26% | -3.42% | 4.22% | -8.23% | 3.72% |
| 2023 | 10.39% | -5.86% | -2.06% | 0.27% | -3.99% | 5.57% | 2.07% | -3.26% | -7.35% | -3.55% | 11.99% | 10.65% | 13.12% |
| 2022 | -8.18% | -3.68% | 6.32% | -4.21% | -4.61% | -7.50% | 8.66% | -5.99% | -12.90% | 3.53% | 6.21% | -5.08% | -26.19% |
| 2021 | 0.05% | 3.33% | 5.13% | 8.00% | 0.78% | 2.60% | 4.48% | 2.14% | -5.67% | 7.08% | -2.17% | 9.75% | 40.46% |
Benchmark Metrics
Vanguard Real Estate Index Fund Institutional Shares has an annualized alpha of -0.13%, beta of 1.14, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since December 03, 2003.
- This fund participated in 109.05% of S&P 500 Index downside but only 103.98% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.14 and R2 of 0.56, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.13%
- Beta
- 1.14
- R²
- 0.56
- Upside Capture
- 103.98%
- Downside Capture
- 109.05%
Expense Ratio
VGSNX has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
VGSNX ranks 12 for risk / return — in the bottom 12% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Real Estate Index Fund Institutional Shares (VGSNX) 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.
| VGSNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.37 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 2.78 | -1.52 |
| Martin ratioReturn relative to average drawdown | 3.97 | 12.44 | -8.47 |
Dividends
Dividend History
Vanguard Real Estate Index Fund Institutional Shares provided a 3.67% dividend yield over the last twelve months, with an annual payout of $0.77 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.77 | $0.77 | $0.76 | $0.77 | $0.71 | $0.65 | $0.74 | $0.69 | $0.78 | $0.77 | $0.88 | $0.69 |
Dividend yield | 3.67% | 3.94% | 3.87% | 3.93% | 3.94% | 2.57% | 3.95% | 3.40% | 4.75% | 4.26% | 4.84% | 3.94% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard 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 | $0.21 | $0.00 | $0.00 | $0.00 | $0.21 | ||||||
| 2025 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.18 | $0.77 |
| 2024 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.19 | $0.76 |
| 2023 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.24 | $0.77 |
| 2022 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.26 | $0.71 |
| 2021 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.23 | $0.65 |
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 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 Real Estate Index Fund Institutional Shares was 73.06%, occurring on Mar 6, 2009. Recovery took 885 trading sessions.
The current Vanguard Real Estate Index Fund Institutional Shares drawdown is 3.05%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -73.06%Mar 2009 | 2y 27d | 3y 6mo | 5y 7moFeb 2007 - Sep 2012 |
COVID crash2020 | -42.30%Mar 2020 | 28d | 1y 23d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -34.39%Oct 2023 | 1y 9mo | 2y 7mo | 4y 5moJan 2022 - Jun 2026 |
2004 correction2004 | -18.27%May 2004 | 1mo 8d | 3mo 22d | 5moApr 2004 - Aug 2004 |
2013 correction2013 | -17.98%Aug 2013 | 2mo 29d | 9mo 20d | 1y 14dMay 2013 - Jun 2014 |
Drawdown Indicators
| VGSNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.06% | -56.78% | -16.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -9.10% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -18.90% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -34.39% | -25.43% | -8.96% |
Max Drawdown (10Y)Largest decline over 10 years | -42.30% | -33.92% | -8.38% |
Current DrawdownCurrent decline from peak | -3.05% | -1.80% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -13.26% | -10.71% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.03% | +0.63% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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