VNQ vs. VGEA.DE

Last updated Jun 13, 2026

VNQ (Vanguard Real Estate ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while VGEA.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, VNQ returned 2.55%/yr vs -3.18%/yr for VGEA.DE. At a 0.29 correlation, their price movements are largely independent. VNQ charges 0.13%/yr vs 0.07%/yr for VGEA.DE.

Performance

VNQ vs. VGEA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Real Estate ETF (VNQ) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VNQ is traded in USD, while VGEA.DE is traded in EUR. To make them comparable, the VGEA.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VNQ achieves a 12.51% return, which is significantly higher than VGEA.DE's -1.21% 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%

VGEA.DE

• 1D: 0.23%
• 1M: -0.34%
• YTD: -1.21%
• 6M: -0.86%
• 1Y: -0.20%
• 3Y*: 4.87%
• 5Y*: -3.18%
• 10Y*: —

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

VNQ vs. VGEA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VNQ Vanguard Real Estate ETF	12.51%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	12.97%
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating	-1.21%	13.65%	-4.27%	10.31%	-22.79%	-10.94%	15.03%	4.64%

Correlation

The correlation between VNQ and VGEA.DE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.29

Return for Risk

VNQ vs. VGEA.DE — 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: 30
VNQ Sortino Ratio Rank: 28
VNQ Omega Ratio Rank: 28
VNQ Calmar Ratio Rank: 35
VNQ Martin Ratio Rank: 36

VGEA.DE

VGEA.DE Risk / Return Rank: 9
VGEA.DE Sharpe Ratio Rank: 9
VGEA.DE Sortino Ratio Rank: 8
VGEA.DE Omega Ratio Rank: 8
VGEA.DE Calmar Ratio Rank: 9
VGEA.DE Martin Ratio Rank: 9

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. VGEA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE). 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	VGEA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.96	-0.02	+0.98
Sortino ratio: Return per unit of downside risk	1.39	0.03	+1.37
Omega ratio: Gain probability vs. loss probability	1.17	1.00	+0.17
Calmar ratio: Return relative to maximum drawdown	1.56	-0.03	+1.59
Martin ratio: Return relative to average drawdown	4.90	-0.08	+4.98

VNQ vs. VGEA.DE - Sharpe Ratio Comparison

The current VNQ Sharpe Ratio is 0.96, which is higher than the VGEA.DE Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of VNQ and VGEA.DE, 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. VGEA.DE - Drawdown Comparison

The maximum VNQ drawdown since its inception was -73.07%, which is greater than VGEA.DE's maximum drawdown of -37.78%. Use the drawdown chart below to compare losses from any high point for VNQ and VGEA.DE.

Drawdown Indicators

	VNQ	VGEA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-73.07%	-37.78%	-35.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-6.30%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	-10.35%	-7.11%
Max Drawdown (5Y) Largest decline over 5 years	-34.48%	-34.97%	+0.49%
Max Drawdown (10Y) Largest decline over 10 years	-42.40%	—	—
Current Drawdown Current decline from peak	0.00%	-18.54%	+18.54%
Average Drawdown Average peak-to-trough decline	-13.61%	-16.43%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.55%	+0.10%

Volatility

VNQ vs. VGEA.DE - Volatility Comparison

Vanguard Real Estate ETF (VNQ) has a higher volatility of 4.72% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 2.56%. This indicates that VNQ's price experiences larger fluctuations and is considered to be riskier than VGEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNQ	VGEA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	2.56%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	6.41%	+3.36%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	8.47%	+5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	10.23%	+8.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	9.51%	+11.21%

VNQ vs. VGEA.DE - Expense Ratio Comparison

VNQ has a 0.13% expense ratio, which is higher than VGEA.DE's 0.07% expense ratio. However, 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. VGEA.DE - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating	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

Can I hold both VNQ and VGEA.DE in my portfolio?

VNQ and VGEA.DE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VNQ or VGEA.DE?

On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VNQ or VGEA.DE?

VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.13% for VNQ.

What is the main difference between VNQ and VGEA.DE?

VNQ is categorized as REIT, while VGEA.DE is European Government Bonds. VNQ tracks MSCI US Investable Market Real Estate 25/50 Index, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. Their fees differ too: 0.13% for VNQ and 0.07% for VGEA.DE.