DFGR vs. VNQI

Last updated Jun 4, 2026

DFGR (Dimensional Global Real Estate ETF) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both REIT funds. DFGR is actively managed, while VNQI is passively managed. Over the past 3 years, DFGR returned 8.89%/yr vs 7.91%/yr for VNQI. A 0.75 correlation means they provide meaningful diversification when combined. DFGR charges 0.22%/yr vs 0.12%/yr for VNQI.

Performance

DFGR vs. VNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Real Estate ETF (DFGR) 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, DFGR achieves a 7.61% return, which is significantly higher than VNQI's -2.57% return.

DFGR

• 1D: -0.28%
• 1M: -1.00%
• YTD: 7.61%
• 6M: 7.46%
• 1Y: 10.27%
• 3Y*: 8.89%
• 5Y*: —
• 10Y*: —

VNQI

• 1D: -1.52%
• 1M: -4.10%
• YTD: -2.57%
• 6M: -1.63%
• 1Y: 5.44%
• 3Y*: 7.91%
• 5Y*: -1.66%
• 10Y*: 2.23%

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

DFGR vs. VNQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFGR Dimensional Global Real Estate ETF	7.61%	7.65%	1.89%	9.64%	-1.24%
VNQI Vanguard Global ex-U.S. Real Estate ETF	-2.57%	21.38%	-2.22%	6.99%	-0.13%

Correlation

The correlation between DFGR 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 (All Time) Calculated using the full available price history since Dec 8, 2022	0.75

The correlation between DFGR and VNQI has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

DFGR vs. VNQI - Sectors Allocation Comparison

Sectors	DFGR	VNQI
Real Estate	99.1%	91.2%
Financial Services	0.1%	1.9%
Technology	0.1%	0.2%
Communication Services	0.0%	-
Consumer Cyclical	0.0%	1.1%
Healthcare	0.0%	0.0%
Industrials	0.0%	0.7%
Consumer Defensive	0.0%	0.1%
Energy	0.0%	0.3%
Utilities	0.0%	0.1%
Basic Materials	-	0.3%

Return for Risk

DFGR vs. VNQI — Risk / Return Rank

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

DFGR

DFGR Risk / Return Rank: 24
DFGR Sharpe Ratio Rank: 24
DFGR Sortino Ratio Rank: 23
DFGR Omega Ratio Rank: 23
DFGR Calmar Ratio Rank: 24
DFGR Martin Ratio Rank: 28

VNQI

VNQI Risk / Return Rank: 14
VNQI Sharpe Ratio Rank: 14
VNQI Sortino Ratio Rank: 14
VNQI Omega Ratio Rank: 14
VNQI Calmar Ratio Rank: 13
VNQI Martin Ratio Rank: 14

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.

DFGR vs. VNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Real Estate ETF (DFGR) 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.

	DFGR	VNQI	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.41	+0.46
Sortino ratio: Return per unit of downside risk	1.26	0.67	+0.59
Omega ratio: Gain probability vs. loss probability	1.16	1.08	+0.08
Calmar ratio: Return relative to maximum drawdown	1.13	0.37	+0.76
Martin ratio: Return relative to average drawdown	4.00	1.14	+2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFGR vs. VNQI - Sharpe Ratio Comparison

The current DFGR Sharpe Ratio is 0.87, which is higher than the VNQI Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of DFGR 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.

Sharpe Ratios by Period

	DFGR	VNQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	0.41	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.20	+0.28

Drawdowns

DFGR vs. VNQI - Drawdown Comparison

The maximum DFGR drawdown since its inception was -21.28%, smaller than the maximum VNQI drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for DFGR and VNQI.

Drawdown Indicators

	DFGR	VNQI	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-38.35%	+17.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-14.78%	+5.63%
Max Drawdown (3Y) Largest decline over 3 years	-17.57%	-16.35%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.35%	—
Current Drawdown Current decline from peak	-2.76%	-12.02%	+9.26%
Average Drawdown Average peak-to-trough decline	-6.30%	-10.89%	+4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	4.79%	-2.21%

Volatility

DFGR vs. VNQI - Volatility Comparison

The current volatility for Dimensional Global Real Estate ETF (DFGR) is 3.61%, while Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a volatility of 4.68%. This indicates that DFGR experiences smaller price fluctuations and is considered to be less risky than VNQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGR	VNQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	4.68%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	8.75%	11.43%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	13.44%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	15.50%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	16.06%	-0.64%

DFGR vs. VNQI - Expense Ratio Comparison

DFGR has a 0.22% 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

DFGR vs. VNQI - Dividend Comparison

DFGR's dividend yield for the trailing twelve months is around 3.95%, less than VNQI's 4.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFGR Dimensional Global Real Estate ETF	3.95%	4.05%	3.73%	2.77%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.83%	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 DFGR and VNQI in my portfolio?

DFGR 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, DFGR or VNQI?

VNQI has higher volatility (4.68%) compared to DFGR (3.61%). In terms of maximum drawdown, DFGR dropped -21.28% vs VNQI's -38.35%.

Which ETF is better, DFGR or VNQI?

On 3-year performance, DFGR leads with 8.89% vs 7.91% for VNQI. On fees, VNQI is cheaper at 0.12% per year. On volatility, DFGR has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGR or VNQI?

Over the 3-year period, DFGR has performed better with a 8.89% return vs 7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGR or VNQI?

VNQI is cheaper with a 0.12% expense ratio, compared with 0.22% for DFGR.

Which ETF pays a higher dividend yield, DFGR or VNQI?

VNQI has the higher dividend yield at 4.83%, compared with 3.95% for DFGR.

What is the main difference between DFGR and VNQI?

They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.22% for DFGR and 0.12% for VNQI.

Which has better risk-adjusted returns?

DFGR currently has the higher Sharpe Ratio (0.87 vs 0.41), 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.