VNQ vs. MOAT

Last updated Jun 12, 2026

VNQ (Vanguard Real Estate ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, VNQ returned 5.53%/yr vs 13.35%/yr for MOAT. A 0.58 correlation means they provide meaningful diversification when combined. VNQ charges 0.13%/yr vs 0.47%/yr for MOAT.

Performance

VNQ vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Real Estate ETF (VNQ) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNQ achieves a 11.49% return, which is significantly higher than MOAT's -1.06% return. Over the past 10 years, VNQ has underperformed MOAT with an annualized return of 5.53%, while MOAT has yielded a comparatively higher 13.35% annualized return.

VNQ

• 1D: -0.07%
• 1M: 0.95%
• YTD: 11.49%
• 6M: 11.16%
• 1Y: 12.43%
• 3Y*: 10.04%
• 5Y*: 2.36%
• 10Y*: 5.53%

MOAT

• 1D: 1.16%
• 1M: 2.54%
• YTD: -1.06%
• 6M: -2.38%
• 1Y: 12.21%
• 3Y*: 10.67%
• 5Y*: 7.69%
• 10Y*: 13.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VNQ vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNQ Vanguard Real Estate ETF	11.49%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	28.91%	-6.03%	4.90%
MOAT VanEck Morningstar Wide Moat ETF	-1.06%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between VNQ and MOAT is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.58

The correlation between VNQ and MOAT shifts across timeframes, from 0.52 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

VNQ vs. MOAT - Sectors Allocation Comparison

Sectors	VNQ	MOAT
Real Estate	97.3%	0.8%
Basic Materials	1.1%	-
Communication Services	0.6%	2.4%
Technology	0.3%	32.8%
Energy	0.1%	-
Financial Services	0.1%	6.7%
Industrials	0.0%	13.5%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	17.5%
Healthcare	-	16.0%
Utilities	-	-

Return for Risk

VNQ vs. MOAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VNQ

VNQ Risk / Return Rank: 32
VNQ Sharpe Ratio Rank: 31
VNQ Sortino Ratio Rank: 29
VNQ Omega Ratio Rank: 29
VNQ Calmar Ratio Rank: 36
VNQ Martin Ratio Rank: 36

MOAT

MOAT Risk / Return Rank: 28
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and VanEck Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.88	+0.04
Sortino ratio: Return per unit of downside risk	1.35	1.35	0.00
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.50	0.99	+0.51
Martin ratio: Return relative to average drawdown	4.71	3.02	+1.68

VNQ vs. MOAT - Sharpe Ratio Comparison

The current VNQ Sharpe Ratio is 0.92, which is comparable to the MOAT Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of VNQ and MOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VNQ vs. MOAT - Drawdown Comparison

The maximum VNQ drawdown since its inception was -73.07%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for VNQ and MOAT.

Drawdown Indicators

	VNQ	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-73.07%	-33.31%	-39.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-12.43%	+4.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	-21.44%	+3.98%
Max Drawdown (5Y) Largest decline over 5 years	-34.48%	-23.96%	-10.52%
Max Drawdown (10Y) Largest decline over 10 years	-42.40%	-33.31%	-9.09%
Current Drawdown Current decline from peak	-0.49%	-4.84%	+4.35%
Average Drawdown Average peak-to-trough decline	-13.61%	-3.83%	-9.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	4.05%	-1.40%

Volatility

VNQ vs. MOAT - Volatility Comparison

Vanguard Real Estate ETF (VNQ) has a higher volatility of 4.74% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.16%. This indicates that VNQ's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNQ	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	4.16%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	10.04%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	13.52%	13.94%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	18.21%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	18.69%	+2.03%

VNQ vs. MOAT - Expense Ratio Comparison

VNQ has a 0.13% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

VNQ vs. MOAT - Dividend Comparison

VNQ's dividend yield for the trailing twelve months is around 3.57%, more than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
VNQ Vanguard Real Estate ETF	3.57%	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

Can I hold both VNQ and MOAT in my portfolio?

VNQ and MOAT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNQ or MOAT?

VNQ has higher volatility (4.74%) compared to MOAT (4.16%). In terms of maximum drawdown, VNQ dropped -73.07% vs MOAT's -33.31%.

Which ETF is better, VNQ or MOAT?

On 10-year performance, MOAT leads with 13.35% vs 5.53% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, MOAT has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNQ or MOAT?

Over the 10-year period, MOAT has performed better with a 13.35% return vs 5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNQ or MOAT?

VNQ is cheaper with a 0.13% expense ratio, compared with 0.47% for MOAT.

Which ETF pays a higher dividend yield, VNQ or MOAT?

VNQ has the higher dividend yield at 3.57%, compared with 1.37% for MOAT.

What is the main difference between VNQ and MOAT?

VNQ is categorized as REIT, while MOAT is Large Cap Blend Equities. VNQ tracks MSCI US Investable Market Real Estate 25/50 Index, while MOAT tracks Morningstar Wide Moat Focus Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.13% for VNQ and 0.47% for MOAT.

Which has better risk-adjusted returns?

VNQ currently has the higher Sharpe Ratio (0.92 vs 0.88), 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.