- ISIN
- US9229085538
- CUSIP
- 922908553
- Issuer
- Vanguard
- Inception Date
- Sep 23, 2004
- Region
- North America (U.S.)
- Category
- REIT
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI US Investable Market Real Estate 25/50 Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $70B
Share Price Chart
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Performance
VNQ Performance Chart
Vanguard Real Estate ETF (VNQ) is up 12.5% since the beginning of the year. VNQ is currently trading at $99 per share. Investors who bought $1,000 worth of VNQ shares 5 years ago would now be looking at an investment worth $1,134.
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Returns By Period
Vanguard Real Estate ETF (VNQ) has returned 12.51% so far this year and 14.02% over the past 12 months. Over the last ten years, VNQ has returned 5.65% per year, falling short of the S&P 500 Index benchmark, which averaged 13.61% annually.
Vanguard Real Estate ETF
- 1D
- 0.92%
- 1M
- 3.35%
- YTD
- 12.51%
- 6M
- 12.32%
- 1Y
- 14.02%
- 3Y*
- 10.14%
- 5Y*
- 2.55%
- 10Y*
- 5.65%
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- -0.93%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
VNQ Monthly Returns History
Based on dividend-adjusted daily data since Sep 29, 2004, VNQ's average daily return is +0.05%, while the average monthly return is +0.81%. At this rate, an investment would double in approximately 7.2 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +30.7%, while the worst month was Oct 2008 at -31.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, VNQ closed higher 53% of trading days. The best single day was Nov 24, 2008 with a return of +17.0%, while the worst single day was Dec 1, 2008 at -19.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.61% | 5.39% | -6.31% | 8.60% | -0.65% | 2.94% | 12.51% | ||||||
| 2025 | 1.65% | 3.70% | -2.59% | -2.44% | 1.12% | 0.69% | 0.09% | 3.48% | 0.06% | -2.45% | 2.42% | -2.24% | 3.24% |
| 2024 | -5.06% | 1.98% | 1.95% | -7.94% | 4.56% | 1.88% | 7.94% | 5.22% | 3.27% | -3.36% | 4.26% | -8.37% | 4.81% |
| 2023 | 10.40% | -5.86% | -2.16% | 0.31% | -3.96% | 5.63% | 2.03% | -3.38% | -7.26% | -3.62% | 12.08% | 9.45% | 11.85% |
| 2022 | -8.42% | -3.48% | 6.26% | -4.09% | -4.69% | -7.45% | 8.62% | -6.01% | -12.87% | 3.51% | 6.15% | -5.03% | -26.25% |
| 2021 | 0.04% | 3.43% | 5.15% | 7.86% | 0.81% | 2.64% | 4.42% | 2.15% | -5.68% | 7.13% | -2.11% | 9.71% | 40.54% |
Benchmark Metrics
Vanguard Real Estate ETF has an annualized alpha of -0.48%, beta of 1.13, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since September 29, 2004.
- This ETF participated in 108.06% of S&P 500 Index downside but only 101.53% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.13 and R2 of 0.57, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.48%
- Beta
- 1.13
- R²
- 0.57
- Upside Capture
- 101.53%
- Downside Capture
- 108.06%
Expense Ratio
VNQ has an expense ratio of 0.13%, which is considered low.
Return for Risk
Risk / Return Rank
VNQ ranks 31 for risk / return — below 31% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) 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.
| VNQ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.34 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.53 | -0.98 |
| Martin ratioReturn relative to average drawdown | 4.90 | 11.37 | -6.47 |
Dividends
Dividend History
Vanguard Real Estate ETF provided a 3.54% dividend yield over the last twelve months, with an annual payout of $3.49 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.49 | $3.47 | $3.43 | $3.49 | $3.23 | $2.97 | $3.33 | $3.14 | $3.53 | $3.51 | $3.98 | $3.12 |
Dividend yield | 3.54% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Real Estate ETF. 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 | $0.95 | $0.00 | $0.00 | $0.00 | $0.95 | ||||||
| 2025 | $0.00 | $0.00 | $0.93 | $0.00 | $0.00 | $0.87 | $0.00 | $0.00 | $0.87 | $0.00 | $0.00 | $0.80 | $3.47 |
| 2024 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $1.03 | $0.00 | $0.00 | $0.81 | $0.00 | $0.00 | $0.86 | $3.43 |
| 2023 | $0.00 | $0.00 | $0.77 | $0.00 | $0.00 | $0.93 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $1.07 | $3.49 |
| 2022 | $0.00 | $0.00 | $0.58 | $0.00 | $0.00 | $0.57 | $0.00 | $0.00 | $0.92 | $0.00 | $0.00 | $1.16 | $3.23 |
| 2021 | $0.00 | $0.00 | $0.53 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.66 | $0.00 | $0.00 | $1.05 | $2.97 |
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 ETF. 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 ETF was 73.07%, occurring on Mar 6, 2009. Recovery took 885 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -73.07%Mar 2009 | 2y 27d | 3y 6mo | 5y 7moFeb 2007 - Sep 2012 |
COVID crash2020 | -42.40%Mar 2020 | 28d | 1y 23d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -34.48%Oct 2023 | 1y 9mo | 2y 7mo | 4y 5moJan 2022 - Jun 2026 |
2013 correction2013 | -17.97%Aug 2013 | 2mo 29d | 9mo 20d | 1y 14dMay 2013 - Jun 2014 |
2015 correction2015 | -17.24%Sep 2015 | 7mo 9d | 8mo 3d | 1y 3moJan 2015 - May 2016 |
Drawdown Indicators
| VNQ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -56.78% | -16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -9.10% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -17.46% | -18.90% | +1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -25.43% | -9.05% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | -33.92% | -8.48% |
Current DrawdownCurrent decline from peak | 0.00% | -2.34% | +2.34% |
Average DrawdownAverage peak-to-trough decline | -13.61% | -10.72% | -2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 2.02% | +0.63% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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