GNL vs. VNQ
GNL (Global Net Lease, Inc.) is a stock, while VNQ (Vanguard Real Estate ETF) is REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Over the past 10 years, GNL returned 1.14%/yr vs 5.47%/yr for VNQ. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
GNL vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, GNL achieves a 13.79% return, which is significantly higher than VNQ's 9.76% return. Over the past 10 years, GNL has underperformed VNQ with an annualized return of 1.14%, while VNQ has yielded a comparatively higher 5.47% annualized return.
GNL
- 1D
- 1.95%
- 1M
- 2.62%
- YTD
- 13.79%
- 6M
- 20.37%
- 1Y
- 35.89%
- 3Y*
- 11.33%
- 5Y*
- -2.84%
- 10Y*
- 1.14%
VNQ
- 1D
- 1.79%
- 1M
- 0.36%
- YTD
- 9.76%
- 6M
- 8.93%
- 1Y
- 11.63%
- 3Y*
- 10.05%
- 5Y*
- 2.54%
- 10Y*
- 5.47%
GNL vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GNL Global Net Lease, Inc. | 13.79% | 32.44% | -15.34% | -8.95% | -7.46% | -2.35% | -6.07% | 26.16% | -4.53% | -4.22% |
VNQ Vanguard Real Estate ETF | 9.76% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Correlation
The correlation between GNL and VNQ is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2015 | 0.66 |
The correlation between GNL and VNQ shifts across timeframes, from 0.52 (1 year) to 0.69 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
GNL vs. VNQ — Risk / Return Rank
GNL
VNQ
GNL vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global Net Lease, Inc. (GNL) 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.
| GNL | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.16 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 1.40 | +2.41 |
| Martin ratioReturn relative to average drawdown | 9.18 | 4.41 | +4.77 |
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
| GNL | VNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 0.88 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.14 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.03 | 0.27 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.27 | -0.24 |
Drawdowns
GNL vs. VNQ - Drawdown Comparison
The maximum GNL drawdown since its inception was -58.38%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for GNL and VNQ.
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Drawdown Indicators
| GNL | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.38% | -73.07% | +14.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -8.34% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -35.59% | -17.46% | -18.13% |
Max Drawdown (5Y)Largest decline over 5 years | -52.09% | -34.48% | -17.61% |
Max Drawdown (10Y)Largest decline over 10 years | -58.38% | -42.40% | -15.98% |
Current DrawdownCurrent decline from peak | -13.97% | -2.03% | -11.94% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -13.63% | -4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 2.64% | +1.28% |
Volatility
GNL vs. VNQ - Volatility Comparison
Global Net Lease, Inc. (GNL) has a higher volatility of 5.07% compared to Vanguard Real Estate ETF (VNQ) at 4.14%. This indicates that GNL'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.
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Volatility by Period
| GNL | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 4.14% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 14.24% | 9.41% | +4.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.94% | 13.27% | +9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.80% | 18.82% | +9.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.34% | 20.70% | +12.64% |
Dividends
GNL vs. VNQ - Dividend Comparison
GNL's dividend yield for the trailing twelve months is around 8.09%, more than VNQ's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNL Global Net Lease, Inc. | 8.09% | 9.83% | 16.15% | 15.62% | 12.73% | 10.47% | 10.11% | 8.75% | 12.09% | 9.77% | 9.07% | 4.64% |
VNQ Vanguard Real Estate ETF | 3.63% | 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
GNL and VNQ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNL has higher volatility (5.07%) compared to VNQ (4.14%). In terms of maximum drawdown, GNL dropped -58.38% vs VNQ's -73.07%.
GNL currently has the higher Sharpe Ratio (1.58 vs 0.88), 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.
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