VNQ vs. INDA
VNQ (Vanguard Real Estate ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, VNQ returned 5.65%/yr vs 7.09%/yr for INDA. At a 0.37 correlation, their price movements are largely independent. VNQ charges 0.13%/yr vs 0.69%/yr for INDA.
Performance
VNQ vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, VNQ achieves a 12.51% return, which is significantly higher than INDA's -10.58% return. Over the past 10 years, VNQ has underperformed INDA with an annualized return of 5.65%, while INDA has yielded a comparatively higher 7.09% annualized return.
VNQ
- 1D
- 0.92%
- 1M
- 3.35%
- YTD
- 12.51%
- 6M
- 12.32%
- 1Y
- 14.02%
- 3Y*
- 10.14%
- 5Y*
- 2.55%
- 10Y*
- 5.65%
INDA
- 1D
- 1.13%
- 1M
- -0.06%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
VNQ vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
INDA iShares MSCI India ETF | -10.58% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between VNQ and INDA is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.37 |
The correlation between VNQ and INDA shifts across timeframes, from 0.26 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNQ vs. INDA — Risk / Return Rank
VNQ
INDA
VNQ vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and iShares MSCI India ETF (INDA). 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 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.88 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | -0.63 | +2.19 |
| Martin ratioReturn relative to average drawdown | 4.90 | -1.46 | +6.36 |
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Drawdowns
VNQ vs. INDA - Drawdown Comparison
The maximum VNQ drawdown since its inception was -73.07%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for VNQ and INDA.
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Drawdown Indicators
| VNQ | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -45.07% | -28.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -18.69% | +10.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.46% | -22.72% | +5.26% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -22.72% | -11.76% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | -45.07% | +2.67% |
Current DrawdownCurrent decline from peak | 0.00% | -17.77% | +17.77% |
Average DrawdownAverage peak-to-trough decline | -13.61% | -9.59% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 8.09% | -5.44% |
Volatility
VNQ vs. INDA - Volatility Comparison
Vanguard Real Estate ETF (VNQ) has a higher volatility of 4.72% compared to iShares MSCI India ETF (INDA) at 4.16%. This indicates that VNQ's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNQ | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 4.16% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 9.77% | 12.77% | -3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.54% | 14.79% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.84% | 15.40% | +3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.72% | 21.11% | -0.39% |
VNQ vs. INDA - Expense Ratio Comparison
VNQ has a 0.13% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
VNQ vs. INDA - Dividend Comparison
VNQ's dividend yield for the trailing twelve months is around 3.54%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
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 INDA have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQ has higher volatility (4.72%) compared to INDA (4.16%). In terms of maximum drawdown, VNQ dropped -73.07% vs INDA's -45.07%.
On 10-year performance, INDA leads with 7.09% vs 5.65% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, INDA has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDA has performed better with a 7.09% return vs 5.65%. 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 0.69% for INDA.
VNQ has the higher dividend yield at 3.54%, compared with 0.00% for INDA.
VNQ is categorized as REIT, while INDA is Asia Pacific Equities. VNQ tracks MSCI US Investable Market Real Estate 25/50 Index, while INDA tracks MSCI India Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.13% for VNQ and 0.69% for INDA.
VNQ currently has the higher Sharpe Ratio (0.96 vs -0.80), 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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