IVV vs. VNQI

Last updated Jun 9, 2026

IVV (iShares Core S&P 500 ETF) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both exchange-traded funds - IVV is a S&P 500 fund tracking the S&P 500 Index, while VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index. Both are passively managed. Over the past 10 years, IVV returned 15.32%/yr vs 2.19%/yr for VNQI. A 0.68 correlation means they provide meaningful diversification when combined. IVV charges 0.03%/yr vs 0.12%/yr for VNQI.

Performance

IVV vs. VNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P 500 ETF (IVV) 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, IVV achieves a 8.72% return, which is significantly higher than VNQI's -3.93% return. Over the past 10 years, IVV has outperformed VNQI with an annualized return of 15.32%, while VNQI has yielded a comparatively lower 2.19% annualized return.

IVV

• 1D: 0.24%
• 1M: 0.23%
• YTD: 8.72%
• 6M: 8.76%
• 1Y: 24.89%
• 3Y*: 21.44%
• 5Y*: 13.50%
• 10Y*: 15.32%

VNQI

• 1D: 0.18%
• 1M: -7.71%
• YTD: -3.93%
• 6M: -1.82%
• 1Y: 3.28%
• 3Y*: 7.32%
• 5Y*: -2.20%
• 10Y*: 2.19%

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

IVV vs. VNQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVV iShares Core S&P 500 ETF	8.72%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%
VNQI Vanguard Global ex-U.S. Real Estate ETF	-3.93%	21.38%	-2.22%	6.99%	-22.94%	5.93%	-7.22%	21.59%	-9.44%	26.91%

Correlation

The correlation between IVV and VNQI is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010	0.68

The correlation between IVV and VNQI shifts across timeframes, from 0.54 (3 years) to 0.68 (all time), reflecting how their relationship changes across market environments.

IVV vs. VNQI - Sectors Allocation Comparison

Sectors	IVV	VNQI
Technology	35.6%	0.2%
Financial Services	11.8%	1.9%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	1.1%
Healthcare	8.5%	0.0%
Industrials	8.3%	0.7%
Consumer Defensive	4.9%	0.1%
Energy	3.5%	0.3%
Utilities	2.4%	0.1%
Real Estate	1.9%	91.2%
Basic Materials	1.8%	0.3%

Return for Risk

IVV vs. VNQI — Risk / Return Rank

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

IVV

IVV Risk / Return Rank: 69
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 68
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

VNQI

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

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.

IVV vs. VNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) 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.

	IVV	VNQI	Difference
Sharpe ratio: Return per unit of total volatility	2.07	0.24	+1.83
Sortino ratio: Return per unit of downside risk	2.79	0.44	+2.36
Omega ratio: Gain probability vs. loss probability	1.38	1.05	+0.32
Calmar ratio: Return relative to maximum drawdown	2.81	0.22	+2.59
Martin ratio: Return relative to average drawdown	12.97	0.66	+12.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVV vs. VNQI - Sharpe Ratio Comparison

The current IVV Sharpe Ratio is 2.07, which is higher than the VNQI Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of IVV 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

	IVV	VNQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	0.24	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	-0.14	+0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.14	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.19	+0.26

Drawdowns

IVV vs. VNQI - Drawdown Comparison

The maximum IVV drawdown since its inception was -55.25%, which is greater than VNQI's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for IVV and VNQI.

Drawdown Indicators

	IVV	VNQI	Difference
Max Drawdown Largest peak-to-trough decline	-55.25%	-38.35%	-16.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-14.78%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-16.35%	-2.40%
Max Drawdown (5Y) Largest decline over 5 years	-24.53%	-35.75%	+11.22%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	-38.35%	+4.45%
Current Drawdown Current decline from peak	-2.67%	-13.24%	+10.57%
Average Drawdown Average peak-to-trough decline	-10.77%	-10.89%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	4.99%	-3.07%

Volatility

IVV vs. VNQI - Volatility Comparison

iShares Core S&P 500 ETF (IVV) and Vanguard Global ex-U.S. Real Estate ETF (VNQI) have volatilities of 3.77% and 3.90%, 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

	IVV	VNQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.90%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	11.61%	-2.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	13.61%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	15.52%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	16.07%	+2.00%

IVV vs. VNQI - Expense Ratio Comparison

IVV has a 0.03% expense ratio, which is lower than VNQI's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IVV vs. VNQI - Dividend Comparison

IVV's dividend yield for the trailing twelve months is around 1.09%, less than VNQI's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.09%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.90%	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 IVV and VNQI in my portfolio?

IVV and VNQI 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 is riskier, IVV or VNQI?

VNQI has higher volatility (3.90%) compared to IVV (3.77%). In terms of maximum drawdown, IVV dropped -55.25% vs VNQI's -38.35%.

Which ETF is better, IVV or VNQI?

On 10-year performance, IVV leads with 15.32% vs 2.19% for VNQI. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVV or VNQI?

Over the 10-year period, IVV has performed better with a 15.32% return vs 2.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVV or VNQI?

IVV is cheaper with a 0.03% expense ratio, compared with 0.12% for VNQI.

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

VNQI has the higher dividend yield at 4.90%, compared with 1.09% for IVV.

What is the main difference between IVV and VNQI?

IVV is categorized as S&P 500, while VNQI is REIT. IVV tracks S&P 500 Index, while VNQI tracks S&P Global ex-U.S. Property Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.03% for IVV and 0.12% for VNQI.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.07 vs 0.24), 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.