DFGEX vs. VNQI

Last updated Jun 23, 2026

DFGEX (DFA Global Real Estate Securities Portfolio) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both REIT funds. Over the past 10 years, DFGEX returned 3.79%/yr vs 2.69%/yr for VNQI. A 0.71 correlation means they provide meaningful diversification when combined. DFGEX charges 0.14%/yr vs 0.12%/yr for VNQI.

Performance

DFGEX vs. VNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Global Real Estate Securities Portfolio (DFGEX) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGEX achieves a 8.88% return, which is significantly higher than VNQI's -2.51% return. Over the past 10 years, DFGEX has outperformed VNQI with an annualized return of 3.79%, while VNQI has yielded a comparatively lower 2.69% annualized return.

DFGEX

• 1D: -0.09%
• 1M: -0.96%
• YTD: 8.88%
• 6M: 9.51%
• 1Y: 11.12%
• 3Y*: 8.91%
• 5Y*: 2.30%
• 10Y*: 3.79%

VNQI

• 1D: -0.33%
• 1M: -2.02%
• YTD: -2.51%
• 6M: -1.89%
• 1Y: 4.50%
• 3Y*: 9.04%
• 5Y*: -1.42%
• 10Y*: 2.69%

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

DFGEX vs. VNQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFGEX DFA Global Real Estate Securities Portfolio	8.88%	7.92%	1.92%	9.54%	-23.84%	31.03%	-6.71%	26.32%	-4.12%	5.95%
VNQI Vanguard Global ex-U.S. Real Estate ETF	-2.51%	21.38%	-2.22%	6.99%	-22.94%	5.93%	-7.22%	21.59%	-9.44%	26.91%

Correlation

The correlation between DFGEX and VNQI is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.71

The correlation between DFGEX and VNQI has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

Return for Risk

DFGEX vs. VNQI — Risk / Return Rank

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

DFGEX

DFGEX Risk / Return Rank: 13
DFGEX Sharpe Ratio Rank: 12
DFGEX Sortino Ratio Rank: 12
DFGEX Omega Ratio Rank: 12
DFGEX Calmar Ratio Rank: 14
DFGEX Martin Ratio Rank: 17

VNQI

VNQI Risk / Return Rank: 12
VNQI Sharpe Ratio Rank: 13
VNQI Sortino Ratio Rank: 12
VNQI Omega Ratio Rank: 12
VNQI Calmar Ratio Rank: 12
VNQI Martin Ratio Rank: 12

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.

DFGEX vs. VNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Global Real Estate Securities Portfolio (DFGEX) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). 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.

	DFGEX	VNQI	Difference
Sharpe ratio: Return per unit of total volatility	0.91	0.33	+0.58
Sortino ratio: Return per unit of downside risk	1.31	0.56	+0.75
Omega ratio: Gain probability vs. loss probability	1.16	1.07	+0.10
Calmar ratio: Return relative to maximum drawdown	1.22	0.31	+0.91
Martin ratio: Return relative to average drawdown	4.24	0.83	+3.41

DFGEX vs. VNQI - Sharpe Ratio Comparison

The current DFGEX Sharpe Ratio is 0.91, which is higher than the VNQI Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of DFGEX and VNQI, 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

DFGEX vs. VNQI - Drawdown Comparison

The maximum DFGEX drawdown since its inception was -42.67%, which is greater than VNQI's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for DFGEX and VNQI.

Drawdown Indicators

	DFGEX	VNQI	Difference
Max Drawdown Largest peak-to-trough decline	-42.67%	-38.35%	-4.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-14.78%	+5.74%
Max Drawdown (3Y) Largest decline over 3 years	-17.37%	-16.35%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-32.78%	-34.92%	+2.14%
Max Drawdown (10Y) Largest decline over 10 years	-42.67%	-38.35%	-4.32%
Current Drawdown Current decline from peak	-2.73%	-11.96%	+9.23%
Average Drawdown Average peak-to-trough decline	-9.62%	-10.89%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	5.42%	-2.83%

Volatility

DFGEX vs. VNQI - Volatility Comparison

DFA Global Real Estate Securities Portfolio (DFGEX) and Vanguard Global ex-U.S. Real Estate ETF (VNQI) have volatilities of 4.30% and 4.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGEX	VNQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	4.43%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.16%	11.89%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	13.80%	-1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	15.55%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	16.06%	+1.67%

DFGEX vs. VNQI - Expense Ratio Comparison

DFGEX has a 0.14% expense ratio, which is higher than VNQI's 0.12% 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

DFGEX vs. VNQI - Dividend Comparison

DFGEX's dividend yield for the trailing twelve months is around 3.74%, less than VNQI's 4.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGEX DFA Global Real Estate Securities Portfolio	3.74%	4.07%	3.78%	3.36%	5.70%	4.50%	2.29%	6.95%	5.09%	0.64%	0.32%	2.45%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.82%	4.70%	5.16%	3.74%	0.57%	6.48%	0.93%	7.58%	4.62%	3.86%	5.18%	2.86%

Frequently Asked Questions

Can I hold both DFGEX and VNQI in my portfolio?

DFGEX and VNQI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGEX or VNQI?

VNQI has higher volatility (4.43%) compared to DFGEX (4.30%). In terms of maximum drawdown, DFGEX dropped -42.67% vs VNQI's -38.35%.

Which has better risk-adjusted returns?

DFGEX currently has the higher Sharpe Ratio (0.91 vs 0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.