VGRLX vs. GRIFX
VGRLX (Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares) and GRIFX (Apollo Diversified Real Estate Fund Class I) are both REIT funds. Over the past 10 years, VGRLX returned 2.67%/yr vs 4.49%/yr for GRIFX. At a 0.49 correlation, their price movements are largely independent. VGRLX charges 0.12%/yr vs 2.23%/yr for GRIFX.
Performance
VGRLX vs. GRIFX - Performance Comparison
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Returns By Period
In the year-to-date period, VGRLX achieves a -2.84% return, which is significantly lower than GRIFX's 3.74% return. Over the past 10 years, VGRLX has underperformed GRIFX with an annualized return of 2.67%, while GRIFX has yielded a comparatively higher 4.49% annualized return.
VGRLX
- 1D
- -0.59%
- 1M
- -2.42%
- YTD
- -2.84%
- 6M
- -2.98%
- 1Y
- 3.52%
- 3Y*
- 9.02%
- 5Y*
- -1.52%
- 10Y*
- 2.67%
GRIFX
- 1D
- 0.08%
- 1M
- -0.07%
- YTD
- 3.74%
- 6M
- 3.83%
- 1Y
- 4.19%
- 3Y*
- 3.00%
- 5Y*
- 3.47%
- 10Y*
- 4.49%
VGRLX vs. GRIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGRLX Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares | -2.84% | 22.00% | -2.42% | 6.19% | -22.36% | 5.65% | -6.91% | 21.44% | -9.55% | 26.53% |
GRIFX Apollo Diversified Real Estate Fund Class I | 3.74% | 1.14% | 3.78% | -3.05% | -1.17% | 22.08% | -2.69% | 8.38% | 4.97% | 6.73% |
Correlation
The correlation between VGRLX and GRIFX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2015 | 0.49 |
The correlation between VGRLX and GRIFX has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.
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Return for Risk
VGRLX vs. GRIFX — Risk / Return Rank
VGRLX
GRIFX
VGRLX vs. GRIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares (VGRLX) and Apollo Diversified Real Estate Fund Class I (GRIFX). 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.
| VGRLX | GRIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.22 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.70 | -2.39 |
| Martin ratioReturn relative to average drawdown | 0.86 | 6.64 | -5.79 |
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Drawdowns
VGRLX vs. GRIFX - Drawdown Comparison
The maximum VGRLX drawdown since its inception was -38.77%, which is greater than GRIFX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for VGRLX and GRIFX.
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Drawdown Indicators
| VGRLX | GRIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -14.29% | -24.48% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -1.70% | -12.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.81% | -7.28% | -8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -34.74% | -14.29% | -20.45% |
Max Drawdown (10Y)Largest decline over 10 years | -38.77% | -14.29% | -24.48% |
Current DrawdownCurrent decline from peak | -11.94% | -2.12% | -9.82% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -3.36% | -7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.29% | 0.69% | +4.60% |
Volatility
VGRLX vs. GRIFX - Volatility Comparison
Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares (VGRLX) has a higher volatility of 3.71% compared to Apollo Diversified Real Estate Fund Class I (GRIFX) at 1.17%. This indicates that VGRLX's price experiences larger fluctuations and is considered to be riskier than GRIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGRLX | GRIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 1.17% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.53% | 2.68% | +7.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 3.71% | +8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.01% | 5.51% | +8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.78% | 4.62% | +10.16% |
VGRLX vs. GRIFX - Expense Ratio Comparison
VGRLX has a 0.12% expense ratio, which is lower than GRIFX's 2.23% expense ratio.
Dividends
VGRLX vs. GRIFX - Dividend Comparison
VGRLX's dividend yield for the trailing twelve months is around 4.83%, less than GRIFX's 7.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRIFX Apollo Diversified Real Estate Fund Class I | 7.81% | 5.37% | 5.27% | 5.46% | 4.14% | 3.67% | 5.26% | 5.27% | 5.29% | 5.22% | 5.27% | 2.62% |
VGRLX Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares | 4.83% | 4.69% | 5.17% | 3.74% | 0.56% | 6.49% | 0.92% | 7.76% | 4.62% | 3.86% | 5.17% | 2.84% |
Frequently Asked Questions
VGRLX and GRIFX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGRLX has higher volatility (3.71%) compared to GRIFX (1.17%). In terms of maximum drawdown, VGRLX dropped -38.77% vs GRIFX's -14.29%.
GRIFX currently has the higher Sharpe Ratio (1.24 vs 0.37), 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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