VGSNX vs. IVRSX
VGSNX (Vanguard Real Estate Index Fund Institutional Shares) and IVRSX (VY CBRE Real Estate Portfolio) are both REIT funds. Over the past 10 years, VGSNX returned 5.45%/yr vs 5.55%/yr for IVRSX. With a 0.98 correlation, they move nearly in lockstep. VGSNX charges 0.10%/yr vs 0.93%/yr for IVRSX.
Performance
VGSNX vs. IVRSX - Performance Comparison
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Returns By Period
In the year-to-date period, VGSNX achieves a 11.80% return, which is significantly lower than IVRSX's 17.46% return. Both investments have delivered pretty close results over the past 10 years, with VGSNX having a 5.45% annualized return and IVRSX not far ahead at 5.55%.
VGSNX
- 1D
- 1.32%
- 1M
- 1.13%
- YTD
- 11.80%
- 6M
- 11.40%
- 1Y
- 11.31%
- 3Y*
- 11.31%
- 5Y*
- 2.87%
- 10Y*
- 5.45%
IVRSX
- 1D
- 1.30%
- 1M
- 1.85%
- YTD
- 17.46%
- 6M
- 16.96%
- 1Y
- 17.00%
- 3Y*
- 11.60%
- 5Y*
- 4.23%
- 10Y*
- 5.55%
VGSNX vs. IVRSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 11.80% | 3.21% | 3.72% | 13.12% | -26.19% | 40.46% | -4.76% | 28.98% | -5.97% | 4.90% |
IVRSX VY CBRE Real Estate Portfolio | 17.46% | -0.01% | 4.32% | 14.11% | -27.22% | 51.91% | -6.66% | 28.15% | -10.29% | 5.20% |
Correlation
The correlation between VGSNX and IVRSX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2003 | 0.98 |
The correlation between VGSNX and IVRSX shifts across timeframes, from 0.87 (1 year) to 0.98 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VGSNX vs. IVRSX — Risk / Return Rank
VGSNX
IVRSX
VGSNX vs. IVRSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund Institutional Shares (VGSNX) and VY CBRE Real Estate Portfolio (IVRSX). 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.
| VGSNX | IVRSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.46 | -1.05 |
| Martin ratioReturn relative to average drawdown | 4.40 | 7.59 | -3.19 |
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Drawdowns
VGSNX vs. IVRSX - Drawdown Comparison
The maximum VGSNX drawdown since its inception was -73.06%, roughly equal to the maximum IVRSX drawdown of -73.77%. Use the drawdown chart below to compare losses from any high point for VGSNX and IVRSX.
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Drawdown Indicators
| VGSNX | IVRSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.06% | -73.77% | +0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -7.74% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -19.29% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -34.39% | -34.51% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -42.30% | -45.19% | +2.89% |
Current DrawdownCurrent decline from peak | -0.69% | 0.00% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -13.26% | -11.91% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.43% | +0.23% |
Volatility
VGSNX vs. IVRSX - Volatility Comparison
Vanguard Real Estate Index Fund Institutional Shares (VGSNX) and VY CBRE Real Estate Portfolio (IVRSX) have volatilities of 5.18% and 5.19%, 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
| VGSNX | IVRSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 5.19% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.20% | 10.23% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 14.21% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 19.67% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.95% | 21.58% | -0.63% |
VGSNX vs. IVRSX - Expense Ratio Comparison
VGSNX has a 0.10% expense ratio, which is lower than IVRSX's 0.93% expense ratio.
Dividends
VGSNX vs. IVRSX - Dividend Comparison
VGSNX's dividend yield for the trailing twelve months is around 3.58%, less than IVRSX's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVRSX VY CBRE Real Estate Portfolio | 4.18% | 2.74% | 2.50% | 8.77% | 26.34% | 1.46% | 13.92% | 2.44% | 11.42% | 2.07% | 1.57% | 1.31% |
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 3.58% | 3.94% | 3.87% | 3.93% | 3.94% | 2.57% | 3.95% | 3.40% | 4.75% | 4.26% | 4.84% | 3.94% |
Frequently Asked Questions
VGSNX and IVRSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVRSX has higher volatility (5.19%) compared to VGSNX (5.18%). In terms of maximum drawdown, VGSNX dropped -73.06% vs IVRSX's -73.77%.
IVRSX currently has the higher Sharpe Ratio (1.34 vs 0.85), 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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