TMRAF vs. VNQ

Last updated Jun 9, 2026

TMRAF (Tomra Systems ASA) 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, TMRAF returned 13.79%/yr vs 5.30%/yr for VNQ. At a 0.05 correlation, their price movements are largely independent.

Performance

TMRAF vs. VNQ - Performance Comparison

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

Returns By Period

In the year-to-date period, TMRAF achieves a -25.51% return, which is significantly lower than VNQ's 9.04% return. Over the past 10 years, TMRAF has outperformed VNQ with an annualized return of 13.79%, while VNQ has yielded a comparatively lower 5.30% annualized return.

TMRAF

• 1D: 0.00%
• 1M: -1.66%
• YTD: -25.51%
• 6M: -19.86%
• 1Y: -34.94%
• 3Y*: -12.47%
• 5Y*: -9.57%
• 10Y*: 13.79%

VNQ

• 1D: -1.36%
• 1M: -1.19%
• YTD: 9.04%
• 6M: 9.17%
• 1Y: 10.45%
• 3Y*: 9.24%
• 5Y*: 1.97%
• 10Y*: 5.30%

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

TMRAF vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMRAF Tomra Systems ASA	-25.51%	7.13%	13.87%	-32.05%	-27.02%	50.97%	51.54%	46.27%	48.12%	82.30%
VNQ Vanguard Real Estate ETF	9.04%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	28.91%	-6.03%	4.90%

Correlation

The correlation between TMRAF and VNQ is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Aug 13, 2007	0.05

The correlation between TMRAF and VNQ shifts across timeframes, from -0.11 (1 year) to 0.07 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TMRAF vs. VNQ — Risk / Return Rank

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

TMRAF

TMRAF Risk / Return Rank: 13
TMRAF Sharpe Ratio Rank: 14
TMRAF Sortino Ratio Rank: 16
TMRAF Omega Ratio Rank: 11
TMRAF Calmar Ratio Rank: 14
TMRAF Martin Ratio Rank: 9

VNQ

VNQ Risk / Return Rank: 26
VNQ Sharpe Ratio Rank: 24
VNQ Sortino Ratio Rank: 23
VNQ Omega Ratio Rank: 23
VNQ Calmar Ratio Rank: 28
VNQ Martin Ratio Rank: 30

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.

TMRAF vs. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tomra Systems ASA (TMRAF) 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.

	TMRAF	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	0.79	-1.44
Sortino ratio: Return per unit of downside risk	-0.72	1.15	-1.87
Omega ratio: Gain probability vs. loss probability	0.86	1.14	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.74	1.26	-2.00
Martin ratio: Return relative to average drawdown	-1.38	3.96	-5.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMRAF vs. VNQ - Sharpe Ratio Comparison

The current TMRAF Sharpe Ratio is -0.66, which is lower than the VNQ Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of TMRAF and VNQ, 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

	TMRAF	VNQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.66	0.79	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.11	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.26	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.27	-0.05

Drawdowns

TMRAF vs. VNQ - Drawdown Comparison

The maximum TMRAF drawdown since its inception was -71.64%, roughly equal to the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for TMRAF and VNQ.

Drawdown Indicators

	TMRAF	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-71.64%	-73.07%	+1.43%
Max Drawdown (1Y) Largest decline over 1 year	-47.39%	-8.34%	-39.05%
Max Drawdown (3Y) Largest decline over 3 years	-56.94%	-17.46%	-39.48%
Max Drawdown (5Y) Largest decline over 5 years	-71.64%	-34.48%	-37.16%
Max Drawdown (10Y) Largest decline over 10 years	-71.64%	-42.40%	-29.24%
Current Drawdown Current decline from peak	-59.61%	-2.67%	-56.94%
Average Drawdown Average peak-to-trough decline	-20.64%	-13.62%	-7.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.28%	2.65%	+22.63%

Volatility

TMRAF vs. VNQ - Volatility Comparison

Tomra Systems ASA (TMRAF) has a higher volatility of 19.65% compared to Vanguard Real Estate ETF (VNQ) at 4.13%. This indicates that TMRAF'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.

Volatility by Period

	TMRAF	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.65%	4.13%	+15.52%
Volatility (6M) Calculated over the trailing 6-month period	40.54%	9.53%	+31.01%
Volatility (1Y) Calculated over the trailing 1-year period	53.41%	13.38%	+40.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.64%	18.82%	+39.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.89%	20.71%	+29.18%

Dividends

TMRAF vs. VNQ - Dividend Comparison

TMRAF's dividend yield for the trailing twelve months is around 0.23%, less than VNQ's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TMRAF Tomra Systems ASA	0.23%	1.55%	1.39%	1.49%	1.94%	1.01%	0.62%	1.62%	4.28%	13.33%	0.00%	0.00%
VNQ Vanguard Real Estate ETF	3.65%	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 TMRAF and VNQ in my portfolio?

TMRAF and VNQ have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMRAF or VNQ?

TMRAF has higher volatility (19.65%) compared to VNQ (4.13%). In terms of maximum drawdown, TMRAF dropped -71.64% vs VNQ's -73.07%.

Which has better risk-adjusted returns?

VNQ currently has the higher Sharpe Ratio (0.79 vs -0.66), 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.