VNQ vs. NVO
VNQ (Vanguard Real Estate ETF) is REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while NVO (Novo Nordisk A/S) is a stock. Over the past 10 years, VNQ returned 4.89%/yr vs 8.18%/yr for NVO. At a 0.30 correlation, their price movements are largely independent.
Performance
VNQ vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, VNQ achieves a 14.62% return, which is significantly higher than NVO's 0.91% return. Over the past 10 years, VNQ has underperformed NVO with an annualized return of 4.89%, while NVO has yielded a comparatively higher 8.18% annualized return.
VNQ
- 1D
- -0.54%
- 1M
- 5.02%
- 6M
- 9.51%
- YTD
- 14.62%
- 1Y
- 14.89%
- 3Y*
- 9.14%
- 5Y*
- 2.64%
- 10Y*
- 4.89%
- ALL TIME*
- 7.76%
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
VNQ vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 14.62% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between VNQ and NVO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004 | 0.30 |
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Return for Risk
VNQ vs. NVO — Risk / Return Rank
VNQ
NVO
VNQ vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and Novo Nordisk A/S (NVO). 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 | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.97 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | -0.39 | +2.19 |
| Martin ratioReturn relative to average drawdown | 5.63 | -0.61 | +6.24 |
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Drawdowns
VNQ vs. NVO - Drawdown Comparison
The maximum VNQ drawdown since its inception was -73.07%, roughly equal to the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for VNQ and NVO.
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Drawdown Indicators
| VNQ | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -74.70% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -49.17% | +40.83% |
Max Drawdown (3Y)Largest decline over 3 years | -17.46% | -74.70% | +57.24% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -74.70% | +40.22% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | -74.70% | +32.30% |
Current DrawdownCurrent decline from peak | -0.59% | -63.95% | +63.36% |
Average DrawdownAverage peak-to-trough decline | -13.56% | -17.89% | +4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 31.75% | -29.10% |
Volatility
VNQ vs. NVO - Volatility Comparison
The current volatility for Vanguard Real Estate ETF (VNQ) is 4.55%, while Novo Nordisk A/S (NVO) has a volatility of 9.48%. This indicates that VNQ experiences smaller price fluctuations and is considered to be less risky than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNQ | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 9.48% | -4.93% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 37.43% | -26.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 51.79% | -37.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 38.58% | -19.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.76% | 32.63% | -11.87% |
Dividends
VNQ vs. NVO - Dividend Comparison
VNQ's dividend yield for the trailing twelve months is around 3.49%, less than NVO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
VNQ Vanguard Real Estate ETF | 3.49% | 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 NVO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (9.48%) compared to VNQ (4.55%). In terms of maximum drawdown, VNQ dropped -73.07% vs NVO's -74.70%.
VNQ currently has the higher Sharpe Ratio (1.07 vs -0.37), 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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