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VNQ vs. EIMI.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VNQ vs. EIMI.L

Last updated Jun 13, 2026

VNQ (Vanguard Real Estate ETF) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 10 years, VNQ returned 5.65%/yr vs 10.60%/yr for EIMI.L. At a 0.27 correlation, their price movements are largely independent. VNQ charges 0.13%/yr vs 0.18%/yr for EIMI.L.

Performance

VNQ vs. EIMI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Real Estate ETF (VNQ) and iShares Core MSCI EM IMI UCITS ETF (EIMI.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VNQ achieves a 12.51% return, which is significantly lower than EIMI.L's 22.83% return. Over the past 10 years, VNQ has underperformed EIMI.L with an annualized return of 5.65%, while EIMI.L has yielded a comparatively higher 10.60% annualized return.

VNQ

1D
0.92%
1M
2.73%
YTD
12.51%
6M
12.32%
1Y
12.92%
3Y*
10.14%
5Y*
2.55%
10Y*
5.65%

EIMI.L

1D
3.53%
1M
1.15%
YTD
22.83%
6M
26.10%
1Y
43.20%
3Y*
21.64%
5Y*
7.50%
10Y*
10.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VNQ vs. EIMI.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VNQ
Vanguard Real Estate ETF		12.51%3.24%4.81%11.85%-26.25%40.54%-4.61%28.91%-6.03%4.90%
EIMI.L
iShares Core MSCI EM IMI UCITS ETF		22.83%32.16%7.36%11.03%-19.67%-0.65%18.80%16.37%-14.18%36.94%

Correlation

The correlation between VNQ and EIMI.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.17

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (5Y)
Calculated over the trailing 5-year period

0.27

Correlation (10Y)
Calculated over the trailing 10-year period

0.26

Correlation (All Time)
Calculated using the full available price history since May 30, 2014

0.27

The correlation between VNQ and EIMI.L shifts across timeframes, from 0.17 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.

VNQ vs. EIMI.L - Sectors Allocation Comparison

Sectors
VNQ
EIMI.L

Real Estate

97.3%
1.7%

Basic Materials

1.1%
6.9%

Communication Services

0.6%
6.4%

Technology

0.3%
35.0%

Energy

0.1%
3.9%

Financial Services

0.1%
18.4%

Industrials

0.0%
8.9%

Consumer Cyclical

-

9.6%

Consumer Defensive

-

3.3%

Healthcare

-

3.7%

Utilities

-

2.2%

Real Estate

VNQ
97.3%
EIMI.L
1.7%

Basic Materials

VNQ
1.1%
EIMI.L
6.9%

Communication Services

VNQ
0.6%
EIMI.L
6.4%

Technology

VNQ
0.3%
EIMI.L
35.0%

Energy

VNQ
0.1%
EIMI.L
3.9%

Financial Services

VNQ
0.1%
EIMI.L
18.4%

Industrials

VNQ
0.0%
EIMI.L
8.9%

Consumer Cyclical

VNQ

-

EIMI.L
9.6%

Consumer Defensive

VNQ

-

EIMI.L
3.3%

Healthcare

VNQ

-

EIMI.L
3.7%

Utilities

VNQ

-

EIMI.L
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Real Estate ETF

iShares Core MSCI EM IMI UCITS ETF

Often compared with VNQ:
VNQ vs. SCHHVNQ vs. VOOVNQ vs. SPYVNQ vs. XLREVNQ vs. VNQIVNQ vs. SCHDVNQ vs. REET
Often compared with EIMI.L:
EIMI.L vs. VFEA.DEEIMI.L vs. CSPX.LEIMI.L vs. AVEMEIMI.L vs. SWRD.LEIMI.L vs. VWOEIMI.L vs. VFEG.LEIMI.L vs. AEME.L

Return for Risk

VNQ vs. EIMI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VNQ
VNQ Risk / Return Rank: 3232
Overall Rank
VNQ Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
VNQ Sortino Ratio Rank: 2828
Sortino Ratio Rank
VNQ Omega Ratio Rank: 2828
Omega Ratio Rank
VNQ Calmar Ratio Rank: 3535
Calmar Ratio Rank
VNQ Martin Ratio Rank: 3636
Martin Ratio Rank
EIMI.L
EIMI.L Risk / Return Rank: 7676
Overall Rank
EIMI.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EIMI.L Sortino Ratio Rank: 7676
Sortino Ratio Rank
EIMI.L Omega Ratio Rank: 7979
Omega Ratio Rank
EIMI.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
EIMI.L Martin Ratio Rank: 7373
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VNQ vs. EIMI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and iShares Core MSCI EM IMI UCITS ETF (EIMI.L). 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.

VNQEIMI.LDifference
Sharpe ratioReturn per unit of total volatility
0.96
2.16

-1.20

Sortino ratioReturn per unit of downside risk
1.39
2.92

-1.53

Omega ratioGain probability vs. loss probability

1.17

1.40

-0.23

Calmar ratioReturn relative to maximum drawdown

1.56

3.40

-1.84

Martin ratioReturn relative to average drawdown

4.90

11.76

-6.86

VNQ vs. EIMI.L - Sharpe Ratio Comparison

The current VNQ Sharpe Ratio is 0.96, which is lower than the EIMI.L Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of VNQ and EIMI.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VNQ vs. EIMI.L - Drawdown Comparison

The maximum VNQ drawdown since its inception was -73.07%, which is greater than EIMI.L's maximum drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for VNQ and EIMI.L.

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Drawdown Indicators

VNQEIMI.LDifference

Max Drawdown

Largest peak-to-trough decline

-73.07%

-38.73%

-34.34%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-12.66%

+4.32%

Max Drawdown (3Y)

Largest decline over 3 years

-17.46%

-17.44%

-0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-34.48%

-35.45%

+0.97%

Max Drawdown (10Y)

Largest decline over 10 years

-42.40%

-38.73%

-3.67%

Current Drawdown

Current decline from peak

0.00%

-3.75%

+3.75%

Average Drawdown

Average peak-to-trough decline

-13.61%

-13.99%

+0.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

3.66%

-1.01%

Volatility

VNQ vs. EIMI.L - Volatility Comparison

The current volatility for Vanguard Real Estate ETF (VNQ) is 4.72%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.37%. This indicates that VNQ experiences smaller price fluctuations and is considered to be less risky than EIMI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VNQEIMI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.72%

8.37%

-3.65%

Volatility (6M)

Calculated over the trailing 6-month period

9.77%

17.62%

-7.85%

Volatility (1Y)

Calculated over the trailing 1-year period

13.54%

19.94%

-6.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.84%

18.46%

+0.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.72%

19.20%

+1.52%

VNQ vs. EIMI.L - Expense Ratio Comparison

VNQ has a 0.13% expense ratio, which is lower than EIMI.L's 0.18% 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

VNQ vs. EIMI.L - Dividend Comparison

VNQ's dividend yield for the trailing twelve months is around 3.54%, while EIMI.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EIMI.L
iShares Core MSCI EM IMI UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VNQ
Vanguard Real Estate ETF		3.54%3.92%3.85%3.95%3.91%2.56%3.93%3.39%4.74%4.23%4.82%3.92%

Frequently Asked Questions

VNQ and EIMI.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VNQ is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VNQ is cheaper with a 0.13% expense ratio, compared with 0.18% for EIMI.L.

VNQ is categorized as REIT, while EIMI.L is Emerging Markets Equities. VNQ tracks MSCI US Investable Market Real Estate 25/50 Index, while EIMI.L tracks MSCI Emerging Markets Investable Market Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.13% for VNQ and 0.18% for EIMI.L.

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