VGSLX vs. VGRNX
VGSLX (Vanguard Real Estate Index Fund Admiral Shares) and VGRNX (Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares) are both REIT funds from Vanguard. Over the past 10 years, VGSLX returned 5.20%/yr vs 2.45%/yr for VGRNX. A 0.56 correlation means they provide meaningful diversification when combined. VGSLX charges 0.12%/yr vs 0.11%/yr for VGRNX.
Performance
VGSLX vs. VGRNX - Performance Comparison
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Returns By Period
In the year-to-date period, VGSLX achieves a 7.97% return, which is significantly higher than VGRNX's -1.13% return. Over the past 10 years, VGSLX has outperformed VGRNX with an annualized return of 5.20%, while VGRNX has yielded a comparatively lower 2.45% annualized return.
VGSLX
- 1D
- 0.46%
- 1M
- -0.95%
- YTD
- 7.97%
- 6M
- 6.88%
- 1Y
- 10.13%
- 3Y*
- 9.19%
- 5Y*
- 2.20%
- 10Y*
- 5.20%
VGRNX
- 1D
- -0.21%
- 1M
- -3.12%
- YTD
- -1.13%
- 6M
- -0.06%
- 1Y
- 7.24%
- 3Y*
- 8.64%
- 5Y*
- -1.22%
- 10Y*
- 2.45%
VGSLX vs. VGRNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 7.97% | 3.18% | 3.67% | 13.13% | -26.20% | 40.39% | -4.75% | 28.90% | -5.99% | 4.91% |
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | -1.13% | 22.02% | -2.40% | 6.35% | -22.47% | 5.63% | -6.90% | 21.50% | -9.54% | 26.55% |
Correlation
The correlation between VGSLX and VGRNX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2010 | 0.56 |
The correlation between VGSLX and VGRNX has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
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Return for Risk
VGSLX vs. VGRNX — Risk / Return Rank
VGSLX
VGRNX
VGSLX vs. VGRNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund Admiral Shares (VGSLX) and Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX). 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.
| VGSLX | VGRNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 0.47 | +0.72 |
| Martin ratioReturn relative to average drawdown | 3.75 | 1.45 | +2.30 |
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
| VGSLX | VGRNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.56 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | -0.09 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.17 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.23 | +0.09 |
Drawdowns
VGSLX vs. VGRNX - Drawdown Comparison
The maximum VGSLX drawdown since its inception was -73.05%, which is greater than VGRNX's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for VGSLX and VGRNX.
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Drawdown Indicators
| VGSLX | VGRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.05% | -38.77% | -34.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -14.35% | +6.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -15.82% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -34.41% | -35.59% | +1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -42.34% | -38.77% | -3.57% |
Current DrawdownCurrent decline from peak | -3.58% | -10.42% | +6.84% |
Average DrawdownAverage peak-to-trough decline | -12.58% | -10.71% | -1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 4.60% | -1.97% |
Volatility
VGSLX vs. VGRNX - Volatility Comparison
Vanguard Real Estate Index Fund Admiral Shares (VGSLX) and Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX) have volatilities of 3.79% and 3.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSLX | VGRNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 3.80% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.33% | 10.16% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 12.05% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 14.00% | +4.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.85% | 14.79% | +6.06% |
VGSLX vs. VGRNX - Expense Ratio Comparison
VGSLX has a 0.12% expense ratio, which is higher than VGRNX's 0.11% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGSLX vs. VGRNX - Dividend Comparison
VGSLX's dividend yield for the trailing twelve months is around 3.69%, less than VGRNX's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGRNX Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares | 4.76% | 4.71% | 5.21% | 3.76% | 0.58% | 6.50% | 0.94% | 7.81% | 4.64% | 3.87% | 5.19% | 2.86% |
VGSLX Vanguard Real Estate Index Fund Admiral Shares | 3.69% | 3.92% | 3.85% | 3.91% | 3.91% | 2.56% | 3.92% | 3.39% | 4.73% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
VGSLX and VGRNX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGRNX has higher volatility (3.80%) compared to VGSLX (3.79%). In terms of maximum drawdown, VGSLX dropped -73.05% vs VGRNX's -38.77%.
VGSLX currently has the higher Sharpe Ratio (0.75 vs 0.56), 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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