VEGI vs. FPI
VEGI (iShares MSCI Agriculture Producers ETF) is Mid Cap Value Equities fund tracking the MSCI ACWI Select Agriculture Producers Investable Market Index, while FPI (Farmland Partners Inc.) is a stock. Over the past 10 years, VEGI returned 8.58%/yr vs 3.54%/yr for FPI. At a 0.31 correlation, their price movements are largely independent.
Performance
VEGI vs. FPI - Performance Comparison
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Returns By Period
In the year-to-date period, VEGI achieves a 16.98% return, which is significantly higher than FPI's 7.93% return. Over the past 10 years, VEGI has outperformed FPI with an annualized return of 8.58%, while FPI has yielded a comparatively lower 3.54% annualized return.
VEGI
- 1D
- 0.58%
- 1M
- -1.31%
- YTD
- 16.98%
- 6M
- 16.00%
- 1Y
- 14.94%
- 3Y*
- 8.09%
- 5Y*
- 3.61%
- 10Y*
- 8.58%
FPI
- 1D
- -0.67%
- 1M
- -2.09%
- YTD
- 7.93%
- 6M
- 6.72%
- 1Y
- -6.03%
- 3Y*
- 2.38%
- 5Y*
- -0.10%
- 10Y*
- 3.54%
VEGI vs. FPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEGI iShares MSCI Agriculture Producers ETF | 16.98% | 11.34% | -4.85% | -8.59% | 6.34% | 21.56% | 20.06% | 13.52% | -9.76% | 19.79% |
FPI Farmland Partners Inc. | 7.93% | -14.11% | 5.66% | 3.99% | 6.09% | 39.70% | 32.09% | 53.84% | -45.13% | -17.84% |
Correlation
The correlation between VEGI and FPI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2014 | 0.31 |
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Return for Risk
VEGI vs. FPI — Risk / Return Rank
VEGI
FPI
VEGI vs. FPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Agriculture Producers ETF (VEGI) and Farmland Partners Inc. (FPI). 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.
| VEGI | FPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.97 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | -0.28 | +2.29 |
| Martin ratioReturn relative to average drawdown | 3.86 | -0.54 | +4.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEGI | FPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | -0.27 | +1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | -0.00 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.10 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.07 | +0.27 |
Drawdowns
VEGI vs. FPI - Drawdown Comparison
The maximum VEGI drawdown since its inception was -37.37%, smaller than the maximum FPI drawdown of -59.77%. Use the drawdown chart below to compare losses from any high point for VEGI and FPI.
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Drawdown Indicators
| VEGI | FPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.37% | -59.77% | +22.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.49% | -21.46% | +13.97% |
Max Drawdown (3Y)Largest decline over 3 years | -17.71% | -23.64% | +5.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.86% | -39.88% | +11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -37.37% | -57.44% | +20.07% |
Current DrawdownCurrent decline from peak | -4.33% | -21.01% | +16.68% |
Average DrawdownAverage peak-to-trough decline | -9.82% | -23.61% | +13.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 11.15% | -7.27% |
Volatility
VEGI vs. FPI - Volatility Comparison
The current volatility for iShares MSCI Agriculture Producers ETF (VEGI) is 4.52%, while Farmland Partners Inc. (FPI) has a volatility of 5.18%. This indicates that VEGI experiences smaller price fluctuations and is considered to be less risky than FPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEGI | FPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 5.18% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.80% | 18.15% | -6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.75% | 22.69% | -7.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.88% | 28.32% | -10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.94% | 35.63% | -16.69% |
Dividends
VEGI vs. FPI - Dividend Comparison
VEGI's dividend yield for the trailing twelve months is around 1.99%, less than FPI's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPI Farmland Partners Inc. | 4.56% | 4.54% | 11.31% | 3.61% | 1.85% | 1.67% | 2.30% | 2.95% | 7.82% | 5.88% | 4.57% | 4.54% |
VEGI iShares MSCI Agriculture Producers ETF | 1.99% | 2.33% | 2.62% | 2.54% | 1.49% | 1.46% | 1.55% | 1.84% | 2.02% | 1.75% | 2.13% | 2.49% |
Frequently Asked Questions
VEGI and FPI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPI has higher volatility (5.18%) compared to VEGI (4.52%). In terms of maximum drawdown, VEGI dropped -37.37% vs FPI's -59.77%.
VEGI currently has the higher Sharpe Ratio (1.02 vs -0.27), 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.
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