VNQ vs. IFRA
VNQ (Vanguard Real Estate ETF) and IFRA (iShares U.S. Infrastructure ETF) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while IFRA is a Industrials Equities fund tracking the NYSE FactSet U.S. Infrastructure Index (TR). Both are passively managed. Over the past 5 years, VNQ returned 2.83%/yr vs 14.07%/yr for IFRA. A 0.67 correlation means they provide meaningful diversification when combined. VNQ charges 0.13%/yr vs 0.30%/yr for IFRA.
Performance
VNQ vs. IFRA - Performance Comparison
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Returns By Period
In the year-to-date period, VNQ achieves a 11.77% return, which is significantly lower than IFRA's 19.25% return.
VNQ
- 1D
- 1.31%
- 1M
- 1.13%
- YTD
- 11.77%
- 6M
- 12.16%
- 1Y
- 11.59%
- 3Y*
- 11.30%
- 5Y*
- 2.83%
- 10Y*
- 5.44%
IFRA
- 1D
- -0.86%
- 1M
- 2.48%
- YTD
- 19.25%
- 6M
- 17.89%
- 1Y
- 30.85%
- 3Y*
- 20.61%
- 5Y*
- 14.07%
- 10Y*
- —
VNQ vs. IFRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 11.77% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | 1.79% |
IFRA iShares U.S. Infrastructure ETF | 19.25% | 15.90% | 17.02% | 13.42% | -3.32% | 29.81% | 7.37% | 27.00% | -7.97% |
Correlation
The correlation between VNQ and IFRA is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.67 |
The correlation between VNQ and IFRA shifts across timeframes, from 0.61 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNQ vs. IFRA — Risk / Return Rank
VNQ
IFRA
VNQ vs. IFRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and iShares U.S. Infrastructure ETF (IFRA). 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.
| VNQ | IFRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.34 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 3.69 | -2.29 |
| Martin ratioReturn relative to average drawdown | 4.37 | 13.48 | -9.11 |
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Drawdowns
VNQ vs. IFRA - Drawdown Comparison
The maximum VNQ drawdown since its inception was -73.07%, which is greater than IFRA's maximum drawdown of -41.06%. Use the drawdown chart below to compare losses from any high point for VNQ and IFRA.
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Drawdown Indicators
| VNQ | IFRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -41.06% | -32.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -8.40% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.46% | -19.93% | +2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -19.93% | -14.55% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -0.86% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -5.12% | -8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.29% | +0.37% |
Volatility
VNQ vs. IFRA - Volatility Comparison
Vanguard Real Estate ETF (VNQ) and iShares U.S. Infrastructure ETF (IFRA) have volatilities of 5.19% 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
| VNQ | IFRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 5.19% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 10.20% | 11.76% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 15.21% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 17.91% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 21.36% | -0.61% |
VNQ vs. IFRA - Expense Ratio Comparison
VNQ has a 0.13% expense ratio, which is lower than IFRA's 0.30% expense ratio.
Dividends
VNQ vs. IFRA - Dividend Comparison
VNQ's dividend yield for the trailing twelve months is around 3.56%, more than IFRA's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IFRA iShares U.S. Infrastructure ETF | 1.56% | 1.84% | 1.75% | 1.98% | 1.98% | 1.63% | 2.08% | 1.68% | 2.50% | 0.00% | 0.00% | 0.00% |
VNQ Vanguard Real Estate ETF | 3.56% | 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 IFRA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFRA has higher volatility (5.19%) compared to VNQ (5.19%). In terms of maximum drawdown, VNQ dropped -73.07% vs IFRA's -41.06%.
On 5-year performance, IFRA leads with 14.07% vs 2.83% for VNQ. On fees, VNQ is cheaper at 0.13% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IFRA has performed better with a 14.07% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.30% for IFRA.
VNQ has the higher dividend yield at 3.56%, compared with 1.56% for IFRA.
VNQ is categorized as REIT, while IFRA is Industrials Equities. VNQ tracks MSCI US Investable Market Real Estate 25/50 Index, while IFRA tracks NYSE FactSet U.S. Infrastructure Index (TR). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.13% for VNQ and 0.30% for IFRA.
IFRA currently has the higher Sharpe Ratio (2.05 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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