IVRA vs. VNQ

Last updated Aug 2, 2026

IVRA (Invesco Real Assets ESG ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - IVRA is a ESG fund actively managed by Invesco, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. IVRA is actively managed, while VNQ is passively managed. Their correlation of 0.83 means they have usually moved in the same direction. IVRA charges 0.59%/yr vs 0.13%/yr for VNQ.

Performance

IVRA vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Real Assets ESG ETF (IVRA) and Vanguard Real Estate ETF (VNQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVRA

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

VNQ

• 1D: -0.54%
• 1M: 0.95%
• 6M: 11.11%
• YTD: 14.01%
• 1Y: 15.59%
• 3Y*: 9.39%
• 5Y*: 2.44%
• 10Y*: 4.90%
• ALL TIME*: 7.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VNQ Vanguard Real Estate ETF	$285.34M	$305.14M	$313.91M

IVRA vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IVRA Invesco Real Assets ESG ETF	11.70%	10.20%	13.07%	9.13%	-10.00%	32.74%	1.28%
VNQ Vanguard Real Estate ETF	14.01%	3.24%	4.81%	11.85%	-26.25%	40.54%	2.19%

Correlation

The correlation between IVRA and VNQ is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Dec 22, 2020	0.83

Over the past year, the correlation between IVRA and VNQ has dropped to 0.57 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

IVRA vs. VNQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IVRA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VNQ

VNQ Risk / Return Rank: 47
VNQ Sharpe Ratio Rank: 45
VNQ Sortino Ratio Rank: 45
VNQ Omega Ratio Rank: 43
VNQ Calmar Ratio Rank: 52
VNQ Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IVRA vs. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Assets ESG ETF (IVRA) 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.

	IVRA	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.11	—
Sortino ratio: Return per unit of downside risk	—	1.62	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.84	—
Martin ratio: Return relative to average drawdown	—	5.97	—

Drawdowns

Drawdown Indicators

	IVRA	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-73.07%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.34%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.40%	—
Current Drawdown Current decline from peak	—	-1.98%	—
Average Drawdown Average peak-to-trough decline	—	-13.54%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.57%	—

Volatility

Volatility by Period

	IVRA	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.86%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.89%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.76%	—

IVRA vs. VNQ - Expense Ratio Comparison

IVRA has a 0.59% expense ratio, which is higher than VNQ's 0.13% expense ratio.

Dividends

IVRA vs. VNQ - Dividend Comparison

IVRA has not paid dividends to shareholders, while VNQ's dividend yield for the trailing twelve months is around 3.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVRA Invesco Real Assets ESG ETF	16.54%	5.68%	3.71%	2.47%	2.30%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNQ Vanguard Real Estate ETF	3.51%	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 IVRA and VNQ in my portfolio?

IVRA and VNQ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVRA or VNQ?

On fees, VNQ is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVRA or VNQ?

VNQ is cheaper with a 0.13% expense ratio, compared with 0.59% for IVRA.

Which ETF pays a higher dividend yield, IVRA or VNQ?

IVRA has the higher dividend yield at 16.54%, compared with 3.51% for VNQ.

What is the main difference between IVRA and VNQ?

IVRA is categorized as ESG, while VNQ is REIT. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.59% for IVRA and 0.13% for VNQ.