JRS vs. VNQI

Last updated Jun 3, 2026

JRS (Nuveen Real Estate Income Fund) is a stock, while VNQI (Vanguard Global ex-U.S. Real Estate ETF) is REIT fund tracking the S&P Global ex-U.S. Property Index. Over the past 10 years, JRS returned 5.48%/yr vs 2.39%/yr for VNQI. At a 0.49 correlation, their price movements are largely independent. JRS charges 1.53%/yr vs 0.12%/yr for VNQI.

Performance

JRS vs. VNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Real Estate Income Fund (JRS) 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, JRS achieves a 8.38% return, which is significantly higher than VNQI's -1.07% return. Over the past 10 years, JRS has outperformed VNQI with an annualized return of 5.48%, while VNQI has yielded a comparatively lower 2.39% annualized return.

JRS

• 1D: 0.37%
• 1M: -0.73%
• YTD: 8.38%
• 6M: 8.26%
• 1Y: 11.76%
• 3Y*: 13.10%
• 5Y*: 2.42%
• 10Y*: 5.48%

VNQI

• 1D: 0.15%
• 1M: -3.78%
• YTD: -1.07%
• 6M: 0.24%
• 1Y: 6.40%
• 3Y*: 8.47%
• 5Y*: -1.23%
• 10Y*: 2.39%

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

JRS vs. VNQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JRS Nuveen Real Estate Income Fund	8.38%	-3.38%	19.74%	13.42%	-35.61%	62.86%	-12.66%	34.92%	-18.07%	14.38%
VNQI Vanguard Global ex-U.S. Real Estate ETF	-1.07%	21.38%	-2.22%	6.99%	-22.94%	5.93%	-7.22%	21.59%	-9.44%	26.91%

Correlation

The correlation between JRS and VNQI is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Nov 2, 2010	0.49

The correlation between JRS and VNQI has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.

Return for Risk

JRS vs. VNQI — Risk / Return Rank

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

JRS

JRS Risk / Return Rank: 62
JRS Sharpe Ratio Rank: 67
JRS Sortino Ratio Rank: 60
JRS Omega Ratio Rank: 58
JRS Calmar Ratio Rank: 61
JRS Martin Ratio Rank: 67

VNQI

VNQI Risk / Return Rank: 16
VNQI Sharpe Ratio Rank: 16
VNQI Sortino Ratio Rank: 16
VNQI Omega Ratio Rank: 16
VNQI Calmar Ratio Rank: 14
VNQI Martin Ratio Rank: 16

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.

JRS vs. VNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Real Estate Income Fund (JRS) 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.

	JRS	VNQI	Difference
Sharpe ratio Return per unit of total volatility	0.84	0.48	+0.35
Sortino ratio Return per unit of downside risk	1.29	0.77	+0.52
Omega ratio Gain probability vs. loss probability	1.16	1.10	+0.06
Calmar ratio Return relative to maximum drawdown	1.00	0.51	+0.48
Martin ratio Return relative to average drawdown	3.23	1.60	+1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRS vs. VNQI - Sharpe Ratio Comparison

The current JRS Sharpe Ratio is 0.84, which is higher than the VNQI Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of JRS 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

	JRS	VNQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	0.48	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	-0.08	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.15	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.20	+0.03

Drawdowns

JRS vs. VNQI - Drawdown Comparison

The maximum JRS drawdown since its inception was -87.80%, which is greater than VNQI's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for JRS and VNQI.

Drawdown Indicators

	JRS	VNQI	Difference
Max Drawdown Largest peak-to-trough decline	-87.80%	-38.35%	-49.45%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-14.78%	+3.68%
Max Drawdown (3Y) Largest decline over 3 years	-25.33%	-16.35%	-8.98%
Max Drawdown (5Y) Largest decline over 5 years	-45.57%	-35.75%	-9.82%
Max Drawdown (10Y) Largest decline over 10 years	-54.64%	-38.35%	-16.29%
Current Drawdown Current decline from peak	-8.42%	-10.66%	+2.24%
Average Drawdown Average peak-to-trough decline	-19.07%	-10.89%	-8.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	4.73%	-1.31%

Volatility

JRS vs. VNQI - Volatility Comparison

The current volatility for Nuveen Real Estate Income Fund (JRS) is 4.23%, while Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a volatility of 4.59%. This indicates that JRS 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

	JRS	VNQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	4.59%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	11.37%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	13.40%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.90%	15.49%	+6.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.31%	16.06%	+8.25%

JRS vs. VNQI - Expense Ratio Comparison

JRS has a 1.53% expense ratio, which is higher than VNQI's 0.12% expense ratio.

Dividends

JRS vs. VNQI - Dividend Comparison

JRS's dividend yield for the trailing twelve months is around 8.37%, more than VNQI's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JRS Nuveen Real Estate Income Fund	8.37%	8.88%	7.88%	8.70%	11.06%	5.93%	9.00%	7.16%	9.99%	8.88%	9.10%	9.04%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.75%	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 JRS and VNQI in my portfolio?

JRS and VNQI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JRS or VNQI?

VNQI has higher volatility (4.59%) compared to JRS (4.23%). In terms of maximum drawdown, JRS dropped -87.80% vs VNQI's -38.35%.

Which has better risk-adjusted returns?

JRS currently has the higher Sharpe Ratio (0.84 vs 0.48), 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.