VGRNX vs. DFGEX
VGRNX (Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares) and DFGEX (DFA Global Real Estate Securities Portfolio) are both REIT funds. Over the past 10 years, VGRNX returned 2.30%/yr vs 3.59%/yr for DFGEX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. VGRNX charges 0.11%/yr vs 0.14%/yr for DFGEX.
Performance
VGRNX vs. DFGEX - Performance Comparison
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Returns By Period
In the year-to-date period, VGRNX achieves a 1.65% return, which is significantly lower than DFGEX's 14.33% return. Over the past 10 years, VGRNX has underperformed DFGEX with an annualized return of 2.30%, while DFGEX has yielded a comparatively higher 3.59% annualized return.
VGRNX
- 1D
- 1.57%
- 1M
- 3.47%
- 6M
- -2.82%
- YTD
- 1.65%
- 1Y
- 7.42%
- 3Y*
- 8.11%
- 5Y*
- -0.35%
- 10Y*
- 2.30%
- ALL TIME*
- 3.56%
DFGEX
- 1D
- -0.50%
- 1M
- 2.31%
- 6M
- 11.45%
- YTD
- 14.33%
- 1Y
- 17.56%
- 3Y*
- 10.00%
- 5Y*
- 2.44%
- 10Y*
- 3.59%
- ALL TIME*
- 5.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VGRNX vs. DFGEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | 1.65% | 22.02% | -2.40% | 6.35% | -22.47% | 5.63% | -6.90% | 21.50% | -9.54% | 26.55% |
DFGEX DFA Global Real Estate Securities Portfolio | 14.33% | 7.92% | 1.92% | 9.54% | -23.84% | 31.03% | -6.71% | 26.32% | -4.12% | 5.95% |
Correlation
The correlation between VGRNX and DFGEX is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.68 |
The correlation between VGRNX and DFGEX shifts across timeframes, from 0.60 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGRNX vs. DFGEX — Risk / Return Rank
VGRNX
DFGEX
VGRNX vs. DFGEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) and DFA Global Real Estate Securities Portfolio (DFGEX). 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.
| VGRNX | DFGEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.24 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 1.80 | -1.30 |
| Martin ratioReturn relative to average drawdown | 1.13 | 6.48 | -5.35 |
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Drawdowns
VGRNX vs. DFGEX - Drawdown Comparison
The maximum VGRNX drawdown since its inception was -38.77%, smaller than the maximum DFGEX drawdown of -42.67%. Use the drawdown chart below to compare losses from any high point for VGRNX and DFGEX.
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Drawdown Indicators
| VGRNX | DFGEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -42.67% | +3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -9.04% | -5.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -17.37% | +1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -34.80% | -32.78% | -2.02% |
Max Drawdown (10Y)Largest decline over 10 years | -38.77% | -42.67% | +3.90% |
Current DrawdownCurrent decline from peak | -7.90% | -0.58% | -7.32% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -9.54% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.34% | 2.53% | +3.81% |
Volatility
VGRNX vs. DFGEX - Volatility Comparison
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) has a higher volatility of 3.50% compared to DFA Global Real Estate Securities Portfolio (DFGEX) at 3.24%. This indicates that VGRNX's price experiences larger fluctuations and is considered to be riskier than DFGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGRNX | DFGEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 3.24% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 9.59% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 12.10% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.06% | 16.29% | -2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.66% | 17.71% | -3.05% |
VGRNX vs. DFGEX - Expense Ratio Comparison
VGRNX has a 0.11% expense ratio, which is lower than DFGEX's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGRNX vs. DFGEX - Dividend Comparison
VGRNX's dividend yield for the trailing twelve months is around 4.63%, more than DFGEX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFGEX DFA Global Real Estate Securities Portfolio | 3.56% | 4.07% | 3.78% | 3.36% | 5.70% | 4.50% | 2.29% | 6.95% | 5.09% | 0.64% | 0.32% | 2.45% |
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | 4.63% | 4.71% | 5.21% | 3.76% | 0.58% | 6.50% | 0.94% | 7.81% | 4.64% | 3.87% | 5.19% | 2.86% |
Frequently Asked Questions
VGRNX and DFGEX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGRNX has higher volatility (3.50%) compared to DFGEX (3.24%). In terms of maximum drawdown, VGRNX dropped -38.77% vs DFGEX's -42.67%.
DFGEX currently has the higher Sharpe Ratio (1.35 vs 0.57), 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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