VNQ vs. VGSNX
Compare and contrast key facts about Vanguard Real Estate ETF (VNQ) and Vanguard Real Estate Index Fund Institutional Shares (VGSNX).
VNQ is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Real Estate 25/50 Index. It was launched on Sep 23, 2004. VGSNX is managed by Vanguard. It was launched on Dec 2, 2003.
Performance
VNQ vs. VGSNX - Performance Comparison
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VNQ vs. VGSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 3.06% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 1.70% | 3.21% | 3.72% | 13.12% | -26.19% | 40.46% | -4.76% | 28.98% | -5.97% | 4.90% |
Returns By Period
In the year-to-date period, VNQ achieves a 3.06% return, which is significantly higher than VGSNX's 1.70% return. Both investments have delivered pretty close results over the past 10 years, with VNQ having a 4.85% annualized return and VGSNX not far behind at 4.69%.
VNQ
- 1D
- 1.36%
- 1M
- -4.43%
- YTD
- 3.06%
- 6M
- 1.04%
- 1Y
- 2.95%
- 3Y*
- 7.33%
- 5Y*
- 3.14%
- 10Y*
- 4.85%
VGSNX
- 1D
- 0.41%
- 1M
- -5.64%
- YTD
- 1.70%
- 6M
- -0.25%
- 1Y
- 1.60%
- 3Y*
- 6.56%
- 5Y*
- 2.88%
- 10Y*
- 4.69%
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VNQ vs. VGSNX - Expense Ratio Comparison
VNQ has a 0.13% expense ratio, which is higher than VGSNX's 0.10% 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%.
Return for Risk
VNQ vs. VGSNX — Risk / Return Rank
VNQ
VGSNX
VNQ vs. VGSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and Vanguard Real Estate Index Fund Institutional Shares (VGSNX). 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.
| VNQ | VGSNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.18 | 0.13 | +0.05 |
Sortino ratioReturn per unit of downside risk | 0.36 | 0.29 | +0.07 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | 0.18 | +0.10 |
Martin ratioReturn relative to average drawdown | 1.11 | 0.71 | +0.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VNQ | VGSNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.13 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.15 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.23 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.27 | -0.01 |
Correlation
The correlation between VNQ and VGSNX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VNQ vs. VGSNX - Dividend Comparison
VNQ's dividend yield for the trailing twelve months is around 3.86%, less than VGSNX's 3.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 3.86% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 3.93% | 3.94% | 3.87% | 3.93% | 3.94% | 2.57% | 3.95% | 3.40% | 4.75% | 4.26% | 4.84% | 3.94% |
Drawdowns
VNQ vs. VGSNX - Drawdown Comparison
The maximum VNQ drawdown since its inception was -73.07%, roughly equal to the maximum VGSNX drawdown of -73.06%. Use the drawdown chart below to compare losses from any high point for VNQ and VGSNX.
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Drawdown Indicators
| VNQ | VGSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -73.06% | -0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -9.37% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -34.39% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | -42.30% | -0.10% |
Current DrawdownCurrent decline from peak | -8.01% | -9.11% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -13.71% | -13.36% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 3.21% | +0.01% |
Volatility
VNQ vs. VGSNX - Volatility Comparison
Vanguard Real Estate ETF (VNQ) has a higher volatility of 4.84% compared to Vanguard Real Estate Index Fund Institutional Shares (VGSNX) at 4.57%. This indicates that VNQ's price experiences larger fluctuations and is considered to be riskier than VGSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNQ | VGSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 4.57% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 9.26% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.37% | 16.33% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.80% | 18.87% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 20.91% | -0.21% |