DFREX vs. VNQ
Compare and contrast key facts about DFA Real Estate Securities Portfolio Class I (DFREX) and Vanguard Real Estate ETF (VNQ).
DFREX is managed by Dimensional. It was launched on Jan 5, 1993. VNQ is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Real Estate 25/50 Index. It was launched on Sep 23, 2004.
Performance
DFREX vs. VNQ - Performance Comparison
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DFREX vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 1.79% | 1.52% | 5.52% | 11.20% | -24.93% | 41.88% | -5.03% | 28.12% | -3.01% | 4.25% |
VNQ Vanguard Real Estate ETF | 1.31% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Returns By Period
In the year-to-date period, DFREX achieves a 1.79% return, which is significantly higher than VNQ's 1.31% return. Both investments have delivered pretty close results over the past 10 years, with DFREX having a 4.83% annualized return and VNQ not far behind at 4.65%.
DFREX
- 1D
- 0.37%
- 1M
- -7.68%
- YTD
- 1.79%
- 6M
- -0.53%
- 1Y
- 0.96%
- 3Y*
- 6.01%
- 5Y*
- 3.57%
- 10Y*
- 4.83%
VNQ
- 1D
- 1.57%
- 1M
- -6.31%
- YTD
- 1.31%
- 6M
- -1.04%
- 1Y
- 1.86%
- 3Y*
- 6.44%
- 5Y*
- 2.79%
- 10Y*
- 4.65%
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DFREX vs. VNQ - Expense Ratio Comparison
DFREX has a 0.18% 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%.
Return for Risk
DFREX vs. VNQ — Risk / Return Rank
DFREX
VNQ
DFREX vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Real Estate Securities Portfolio Class I (DFREX) 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.
| DFREX | VNQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.12 | 0.11 | +0.01 |
Sortino ratioReturn per unit of downside risk | 0.28 | 0.27 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.04 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.23 | -0.09 |
Martin ratioReturn relative to average drawdown | 0.54 | 0.88 | -0.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFREX | VNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 0.11 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.15 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.23 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.26 | +0.11 |
Correlation
The correlation between DFREX and VNQ is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DFREX vs. VNQ - Dividend Comparison
DFREX's dividend yield for the trailing twelve months is around 2.84%, less than VNQ's 3.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 2.84% | 2.84% | 2.97% | 3.59% | 6.24% | 2.56% | 3.36% | 2.23% | 4.88% | 1.89% | 2.83% | 2.86% |
VNQ Vanguard Real Estate ETF | 3.93% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Drawdowns
DFREX vs. VNQ - Drawdown Comparison
The maximum DFREX drawdown since its inception was -74.36%, roughly equal to the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for DFREX and VNQ.
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Drawdown Indicators
| DFREX | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.36% | -73.07% | -1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -12.22% | -12.44% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | -34.48% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -41.49% | -42.40% | +0.91% |
Current DrawdownCurrent decline from peak | -8.98% | -9.57% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -11.39% | -13.71% | +2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 3.18% | -0.07% |
Volatility
DFREX vs. VNQ - Volatility Comparison
The current volatility for DFA Real Estate Securities Portfolio Class I (DFREX) is 4.12%, while Vanguard Real Estate ETF (VNQ) has a volatility of 4.52%. This indicates that DFREX experiences smaller price fluctuations and is considered to be less risky than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFREX | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 4.52% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 9.29% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 16.33% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.68% | 18.81% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.30% | 20.71% | -0.41% |