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VAP.AX vs. VDGR.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VAP.AX vs. VDGR.AX

Last updated Jul 16, 2026
Documentation

VAP.AX (Vanguard Australian Property Securities Index ETF) and VDGR.AX (Vanguard Diversified Growth Index ETF) are both exchange-traded funds - VAP.AX is a REIT fund tracking the Vanguard Australian Property Securities Index Index, while VDGR.AX is a Diversified Portfolio fund tracking the Growth Composite Index. Both are passively managed. Over the past 5 years, VAP.AX returned 5.29%/yr vs 6.32%/yr for VDGR.AX. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

VAP.AX vs. VDGR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Australian Property Securities Index ETF (VAP.AX) and Vanguard Diversified Growth Index ETF (VDGR.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VAP.AX achieves a -8.02% return, which is significantly lower than VDGR.AX's 3.70% return.

VAP.AX

1D
0.30%
1M
-4.52%
6M
-6.99%
YTD
-8.02%
1Y
-5.84%
3Y*
8.66%
5Y*
5.29%
10Y*
6.49%

VDGR.AX

1D
0.06%
1M
-0.13%
6M
3.29%
YTD
3.70%
1Y
9.56%
3Y*
10.85%
5Y*
6.32%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VAP.AX vs. VDGR.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VAP.AX
Vanguard Australian Property Securities Index ETF		-8.02%7.90%17.90%16.52%-19.21%30.37%-1.57%22.83%8.32%2.52%
VDGR.AX
Vanguard Diversified Growth Index ETF		3.70%11.12%12.97%12.54%-10.56%12.28%7.09%19.35%-1.25%1.14%

Correlation

The correlation between VAP.AX and VDGR.AX is 0.58, 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

0.58

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2017

0.58

The correlation between VAP.AX and VDGR.AX has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Vanguard Australian Property Securities Index ETF

Vanguard Diversified Growth Index ETF

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Return for Risk

VAP.AX vs. VDGR.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VAP.AX
VAP.AX Risk / Return Rank: 66
Overall Rank
VAP.AX Sharpe Ratio Rank: 66
Sharpe Ratio Rank
VAP.AX Sortino Ratio Rank: 66
Sortino Ratio Rank
VAP.AX Omega Ratio Rank: 66
Omega Ratio Rank
VAP.AX Calmar Ratio Rank: 77
Calmar Ratio Rank
VAP.AX Martin Ratio Rank: 77
Martin Ratio Rank
VDGR.AX
VDGR.AX Risk / Return Rank: 4141
Overall Rank
VDGR.AX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VDGR.AX Sortino Ratio Rank: 4141
Sortino Ratio Rank
VDGR.AX Omega Ratio Rank: 4343
Omega Ratio Rank
VDGR.AX Calmar Ratio Rank: 3838
Calmar Ratio Rank
VDGR.AX Martin Ratio Rank: 4444
Martin Ratio Rank
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.

VAP.AX vs. VDGR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Australian Property Securities Index ETF (VAP.AX) and Vanguard Diversified Growth Index ETF (VDGR.AX). 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.

VAP.AXVDGR.AXDifference
Sharpe ratioReturn per unit of total volatility
-0.32
1.23

-1.55

Sortino ratioReturn per unit of downside risk
-0.33
1.80

-2.14

Omega ratioGain probability vs. loss probability

0.96

1.24

-0.28

Calmar ratioReturn relative to maximum drawdown

-0.25

1.63

-1.87

Martin ratioReturn relative to average drawdown

-0.52

5.87

-6.39

VAP.AX vs. VDGR.AX - Sharpe Ratio Comparison

The current VAP.AX Sharpe Ratio is -0.32, which is lower than the VDGR.AX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of VAP.AX and VDGR.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VAP.AX vs. VDGR.AX - Drawdown Comparison

The maximum VAP.AX drawdown since its inception was -48.41%, which is greater than VDGR.AX's maximum drawdown of -23.90%. Use the drawdown chart below to compare losses from any high point for VAP.AX and VDGR.AX.

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Drawdown Indicators

VAP.AXVDGR.AXDifference

Max Drawdown

Largest peak-to-trough decline

-48.41%

-23.90%

-24.51%

Max Drawdown (1Y)

Largest decline over 1 year

-22.31%

-5.99%

-16.32%

Max Drawdown (3Y)

Largest decline over 3 years

-22.31%

-10.00%

-12.31%

Max Drawdown (5Y)

Largest decline over 5 years

-29.14%

-15.79%

-13.35%

Max Drawdown (10Y)

Largest decline over 10 years

-48.41%

—

—

Current Drawdown

Current decline from peak

-13.47%

-0.48%

-12.99%

Average Drawdown

Average peak-to-trough decline

-7.30%

-3.35%

-3.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.79%

1.69%

+9.10%

Volatility

VAP.AX vs. VDGR.AX - Volatility Comparison

Vanguard Australian Property Securities Index ETF (VAP.AX) has a higher volatility of 4.09% compared to Vanguard Diversified Growth Index ETF (VDGR.AX) at 1.33%. This indicates that VAP.AX's price experiences larger fluctuations and is considered to be riskier than VDGR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VAP.AXVDGR.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

1.33%

+2.76%

Volatility (6M)

Calculated over the trailing 6-month period

13.72%

6.65%

+7.07%

Volatility (1Y)

Calculated over the trailing 1-year period

17.15%

7.96%

+9.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.69%

8.97%

+10.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.99%

9.61%

+11.38%

Dividends

VAP.AX vs. VDGR.AX - Dividend Comparison

VAP.AX's dividend yield for the trailing twelve months is around 2.50%, less than VDGR.AX's 3.67% yield.

PositionTTM20252024202320222021202020192018201720162015
VAP.AX
Vanguard Australian Property Securities Index ETF		2.50%3.98%3.55%3.88%5.90%7.12%4.49%8.55%12.62%3.71%4.62%4.91%
VDGR.AX
Vanguard Diversified Growth Index ETF		3.67%3.04%1.60%2.04%3.42%8.07%5.20%2.91%1.56%0.00%0.00%0.00%

Frequently Asked Questions

VAP.AX and VDGR.AX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VAP.AX is categorized as REIT, while VDGR.AX is Diversified Portfolio. VAP.AX tracks Vanguard Australian Property Securities Index Index, while VDGR.AX tracks Growth Composite Index.

Portfolio Optimizer

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