AASG.L vs. VNQ

Last updated Jun 4, 2026

AASG.L (Amundi MSCI Emerging Markets Asia UCITS ETF USD) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - AASG.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, AASG.L returned 12.54%/yr vs 6.03%/yr for VNQ. At a 0.20 correlation, their price movements are largely independent. AASG.L charges 0.20%/yr vs 0.13%/yr for VNQ.

Performance

AASG.L vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Emerging Markets Asia UCITS ETF USD (AASG.L) and Vanguard Real Estate ETF (VNQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AASG.L is traded in GBp, while VNQ is traded in USD. To make them comparable, the VNQ values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, AASG.L achieves a 32.89% return, which is significantly higher than VNQ's 8.23% return. Over the past 10 years, AASG.L has outperformed VNQ with an annualized return of 12.54%, while VNQ has yielded a comparatively lower 6.03% annualized return.

AASG.L

• 1D: -0.95%
• 1M: 13.19%
• YTD: 32.89%
• 6M: 35.83%
• 1Y: 64.11%
• 3Y*: 23.54%
• 5Y*: 9.38%
• 10Y*: 12.54%

VNQ

• 1D: 0.15%
• 1M: -0.30%
• YTD: 8.23%
• 6M: 6.19%
• 1Y: 10.74%
• 3Y*: 6.45%
• 5Y*: 3.28%
• 10Y*: 6.03%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AASG.L vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AASG.L Amundi MSCI Emerging Markets Asia UCITS ETF USD	32.89%	23.83%	14.04%	0.69%	-11.51%	-4.50%	24.04%	14.10%	-10.84%	30.20%
VNQ Vanguard Real Estate ETF	8.23%	-4.11%	6.64%	6.26%	-17.48%	41.87%	-7.41%	24.01%	-0.45%	-4.17%

Correlation

The correlation between AASG.L and VNQ is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016	0.20

The correlation between AASG.L and VNQ shifts across timeframes, from -0.02 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

AASG.L vs. VNQ - Sectors Allocation Comparison

Sectors	AASG.L	VNQ
Technology	44.9%	0.3%
Financial Services	14.8%	0.1%
Consumer Cyclical	10.6%	-
Industrials	7.8%	0.0%
Communication Services	7.1%	0.6%
Basic Materials	3.9%	1.1%
Healthcare	3.2%	-
Energy	2.9%	0.1%
Consumer Defensive	2.5%	-
Utilities	1.5%	-
Real Estate	0.7%	97.3%

Return for Risk

AASG.L vs. VNQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AASG.L

AASG.L Risk / Return Rank: 91
AASG.L Sharpe Ratio Rank: 93
AASG.L Sortino Ratio Rank: 92
AASG.L Omega Ratio Rank: 92
AASG.L Calmar Ratio Rank: 90
AASG.L Martin Ratio Rank: 88

VNQ

VNQ Risk / Return Rank: 23
VNQ Sharpe Ratio Rank: 22
VNQ Sortino Ratio Rank: 21
VNQ Omega Ratio Rank: 20
VNQ Calmar Ratio Rank: 25
VNQ Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AASG.L vs. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets Asia UCITS ETF USD (AASG.L) and Vanguard Real Estate ETF (VNQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AASG.L	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	3.50	0.84	+2.66
Sortino ratio: Return per unit of downside risk	4.42	1.24	+3.18
Omega ratio: Gain probability vs. loss probability	1.62	1.15	+0.47
Calmar ratio: Return relative to maximum drawdown	5.56	1.45	+4.11
Martin ratio: Return relative to average drawdown	19.24	4.09	+15.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AASG.L vs. VNQ - Sharpe Ratio Comparison

The current AASG.L Sharpe Ratio is 3.50, which is higher than the VNQ Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of AASG.L and VNQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AASG.L	VNQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.50	0.84	+2.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.19	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.29	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.28	+0.41

Drawdowns

AASG.L vs. VNQ - Drawdown Comparison

The maximum AASG.L drawdown since its inception was -34.12%, smaller than the maximum VNQ drawdown of -57.05%. Use the drawdown chart below to compare losses from any high point for AASG.L and VNQ.

Drawdown Indicators

	AASG.L	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-57.05%	+22.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.46%	-7.44%	-4.02%
Max Drawdown (3Y) Largest decline over 3 years	-17.56%	-18.24%	+0.68%
Max Drawdown (5Y) Largest decline over 5 years	-28.57%	-28.76%	+0.19%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	-35.51%	+1.39%
Current Drawdown Current decline from peak	-0.95%	-5.39%	+4.44%
Average Drawdown Average peak-to-trough decline	-11.03%	-10.79%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.63%	+0.69%

Volatility

AASG.L vs. VNQ - Volatility Comparison

Amundi MSCI Emerging Markets Asia UCITS ETF USD (AASG.L) has a higher volatility of 8.31% compared to Vanguard Real Estate ETF (VNQ) at 3.11%. This indicates that AASG.L's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AASG.L	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.31%	3.11%	+5.20%
Volatility (6M) Calculated over the trailing 6-month period	15.42%	9.41%	+6.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	12.83%	+5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.68%	17.59%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.55%	20.60%	-2.05%

AASG.L vs. VNQ - Expense Ratio Comparison

AASG.L has a 0.20% expense ratio, which is higher than VNQ's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AASG.L vs. VNQ - Dividend Comparison

AASG.L has not paid dividends to shareholders, while VNQ's dividend yield for the trailing twelve months is around 3.69%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AASG.L Amundi MSCI Emerging Markets Asia UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNQ Vanguard Real Estate ETF	3.69%	3.92%	3.85%	3.95%	3.91%	2.56%	3.93%	3.39%	4.74%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both AASG.L and VNQ in my portfolio?

AASG.L and VNQ have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AASG.L or VNQ?

On fees, VNQ is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AASG.L or VNQ?

VNQ is cheaper with a 0.13% expense ratio, compared with 0.20% for AASG.L.

What is the main difference between AASG.L and VNQ?

AASG.L is categorized as Asia Pacific Equities, while VNQ is REIT. AASG.L tracks MSCI AC Asia Ex Japan NR USD, while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: Amundi and Vanguard. Their fees differ too: 0.20% for AASG.L and 0.13% for VNQ.