ALAU.L vs. VNQ

Last updated Jul 16, 2026

ALAU.L (Amundi MSCI Em Latin America) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - ALAU.L is a Latin America Equities fund tracking the MSCI EM Latin America 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, ALAU.L returned 6.94%/yr vs 4.91%/yr for VNQ. At a 0.30 correlation, their price movements are largely independent. ALAU.L charges 0.10%/yr vs 0.13%/yr for VNQ.

Performance

ALAU.L vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi MSCI Em Latin America (ALAU.L) and Vanguard Real Estate ETF (VNQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ALAU.L having a 13.30% return and VNQ slightly lower at 12.76%. Over the past 10 years, ALAU.L has outperformed VNQ with an annualized return of 6.94%, while VNQ has yielded a comparatively lower 4.91% annualized return.

ALAU.L

• 1D: -0.29%
• 1M: -0.12%
• 6M: 7.68%
• YTD: 13.30%
• 1Y: 40.17%
• 3Y*: 12.26%
• 5Y*: 9.65%
• 10Y*: 6.94%

VNQ

• 1D: 0.30%
• 1M: 0.92%
• 6M: 9.80%
• YTD: 12.76%
• 1Y: 14.20%
• 3Y*: 8.56%
• 5Y*: 2.40%
• 10Y*: 4.91%

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

ALAU.L vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALAU.L Amundi MSCI Em Latin America	13.30%	55.22%	-26.49%	32.27%	8.88%	-9.44%	-13.65%	17.11%	-7.39%	23.26%
VNQ Vanguard Real Estate ETF	12.76%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	28.91%	-6.03%	4.90%

Correlation

The correlation between ALAU.L and VNQ is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 11, 2011	0.30

Return for Risk

ALAU.L vs. VNQ — Risk / Return Rank

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

ALAU.L

ALAU.L Risk / Return Rank: 66
ALAU.L Sharpe Ratio Rank: 74
ALAU.L Sortino Ratio Rank: 72
ALAU.L Omega Ratio Rank: 67
ALAU.L Calmar Ratio Rank: 66
ALAU.L Martin Ratio Rank: 52

VNQ

VNQ Risk / Return Rank: 37
VNQ Sharpe Ratio Rank: 35
VNQ Sortino Ratio Rank: 33
VNQ Omega Ratio Rank: 32
VNQ Calmar Ratio Rank: 41
VNQ Martin Ratio Rank: 42

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.

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

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Em Latin America (ALAU.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.

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.

	ALAU.L	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.03	+0.88
Sortino ratio: Return per unit of downside risk	2.61	1.49	+1.12
Omega ratio: Gain probability vs. loss probability	1.32	1.18	+0.14
Calmar ratio: Return relative to maximum drawdown	2.68	1.71	+0.97
Martin ratio: Return relative to average drawdown	7.17	5.37	+1.81

ALAU.L vs. VNQ - Sharpe Ratio Comparison

The current ALAU.L Sharpe Ratio is 1.91, which is higher than the VNQ Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of ALAU.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.

Drawdowns

ALAU.L vs. VNQ - Drawdown Comparison

The maximum ALAU.L drawdown since its inception was -62.98%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for ALAU.L and VNQ.

Drawdown Indicators

	ALAU.L	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-62.98%	-73.07%	+10.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.94%	-8.34%	-6.60%
Max Drawdown (3Y) Largest decline over 3 years	-27.24%	-17.46%	-9.78%
Max Drawdown (5Y) Largest decline over 5 years	-28.77%	-34.48%	+5.71%
Max Drawdown (10Y) Largest decline over 10 years	-54.88%	-42.40%	-12.48%
Current Drawdown Current decline from peak	-9.29%	-0.82%	-8.47%
Average Drawdown Average peak-to-trough decline	-28.40%	-13.56%	-14.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.58%	2.65%	+2.93%

Volatility

ALAU.L vs. VNQ - Volatility Comparison

Amundi MSCI Em Latin America (ALAU.L) has a higher volatility of 5.78% compared to Vanguard Real Estate ETF (VNQ) at 4.86%. This indicates that ALAU.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

	ALAU.L	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	4.86%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	17.41%	10.63%	+6.78%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	13.91%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.91%	18.89%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.23%	20.74%	+5.49%

ALAU.L vs. VNQ - Expense Ratio Comparison

ALAU.L has a 0.10% expense ratio, which is lower than VNQ's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ALAU.L vs. VNQ - Dividend Comparison

ALAU.L has not paid dividends to shareholders, while VNQ's dividend yield for the trailing twelve months is around 3.55%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALAU.L Amundi MSCI Em Latin America	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	3.55%	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 ALAU.L and VNQ in my portfolio?

ALAU.L and VNQ have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ALAU.L or VNQ?

On fees, ALAU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ALAU.L or VNQ?

ALAU.L is cheaper with a 0.10% expense ratio, compared with 0.13% for VNQ.

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

ALAU.L is categorized as Latin America Equities, while VNQ is REIT. ALAU.L tracks MSCI EM Latin America 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: 0.10% for ALAU.L and 0.13% for VNQ.