VNQI vs. BBRE

Last updated Jun 5, 2026

VNQI (Vanguard Global ex-U.S. Real Estate ETF) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - VNQI tracks the S&P Global ex-U.S. Property Index while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, VNQI returned -1.57%/yr vs 4.69%/yr for BBRE. A 0.59 correlation means they provide meaningful diversification when combined. VNQI charges 0.12%/yr vs 0.11%/yr for BBRE.

Performance

VNQI vs. BBRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global ex-U.S. Real Estate ETF (VNQI) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNQI achieves a -2.14% return, which is significantly lower than BBRE's 13.24% return.

VNQI

• 1D: 0.45%
• 1M: -4.57%
• YTD: -2.14%
• 6M: -0.84%
• 1Y: 5.67%
• 3Y*: 8.33%
• 5Y*: -1.57%
• 10Y*: 2.21%

BBRE

• 1D: 1.31%
• 1M: 0.49%
• YTD: 13.24%
• 6M: 12.48%
• 1Y: 15.55%
• 3Y*: 11.69%
• 5Y*: 4.69%
• 10Y*: —

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

VNQI vs. BBRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VNQI Vanguard Global ex-U.S. Real Estate ETF	-2.14%	21.38%	-2.22%	6.99%	-22.94%	5.93%	-7.22%	21.59%	-9.12%
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	13.24%	2.09%	8.24%	13.85%	-24.68%	42.99%	-7.55%	26.06%	-2.60%

Correlation

The correlation between VNQI and BBRE is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.59

The correlation between VNQI and BBRE has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

VNQI vs. BBRE - Sectors Allocation Comparison

Sectors	VNQI	BBRE
Real Estate	91.2%	98.9%
Financial Services	1.9%	0.1%
Consumer Cyclical	1.1%	-
Industrials	0.7%	-
Energy	0.3%	-
Basic Materials	0.3%	-
Technology	0.2%	-
Utilities	0.1%	-
Consumer Defensive	0.1%	-
Healthcare	0.0%	-
Communication Services	-	-

Return for Risk

VNQI vs. BBRE — Risk / Return Rank

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

VNQI

VNQI Risk / Return Rank: 15
VNQI Sharpe Ratio Rank: 16
VNQI Sortino Ratio Rank: 15
VNQI Omega Ratio Rank: 16
VNQI Calmar Ratio Rank: 14
VNQI Martin Ratio Rank: 15

BBRE

BBRE Risk / Return Rank: 35
BBRE Sharpe Ratio Rank: 33
BBRE Sortino Ratio Rank: 31
BBRE Omega Ratio Rank: 31
BBRE Calmar Ratio Rank: 40
BBRE Martin Ratio Rank: 39

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.

VNQI vs. BBRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate ETF (VNQI) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.

	VNQI	BBRE	Difference
Sharpe ratio: Return per unit of total volatility	0.42	1.16	-0.74
Sortino ratio: Return per unit of downside risk	0.69	1.63	-0.94
Omega ratio: Gain probability vs. loss probability	1.09	1.20	-0.12
Calmar ratio: Return relative to maximum drawdown	0.39	1.93	-1.55
Martin ratio: Return relative to average drawdown	1.17	6.10	-4.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNQI vs. BBRE - Sharpe Ratio Comparison

The current VNQI Sharpe Ratio is 0.42, which is lower than the BBRE Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of VNQI and BBRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VNQI	BBRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	1.16	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.25	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.32	-0.12

Drawdowns

VNQI vs. BBRE - Drawdown Comparison

The maximum VNQI drawdown since its inception was -38.35%, smaller than the maximum BBRE drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for VNQI and BBRE.

Drawdown Indicators

	VNQI	BBRE	Difference
Max Drawdown Largest peak-to-trough decline	-38.35%	-43.61%	+5.26%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-8.07%	-6.71%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-18.92%	+2.57%
Max Drawdown (5Y) Largest decline over 5 years	-35.75%	-31.15%	-4.60%
Max Drawdown (10Y) Largest decline over 10 years	-38.35%	—	—
Current Drawdown Current decline from peak	-11.62%	-1.85%	-9.77%
Average Drawdown Average peak-to-trough decline	-10.89%	-10.52%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	2.55%	+2.29%

Volatility

VNQI vs. BBRE - Volatility Comparison

Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a higher volatility of 4.58% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 4.15%. This indicates that VNQI's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNQI	BBRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	4.15%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	9.54%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	13.44%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	18.78%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	22.56%	-6.50%

VNQI vs. BBRE - Expense Ratio Comparison

VNQI has a 0.12% expense ratio, which is higher than BBRE's 0.11% 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

VNQI vs. BBRE - Dividend Comparison

VNQI's dividend yield for the trailing twelve months is around 4.81%, more than BBRE's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBRE JPMorgan BetaBuilders MSCI US REIT ETF	2.77%	3.24%	3.19%	3.68%	2.62%	1.70%	3.17%	2.19%	1.96%	0.00%	0.00%	0.00%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.81%	4.70%	5.16%	3.74%	0.57%	6.48%	0.93%	7.58%	4.62%	3.86%	5.18%	2.86%

Frequently Asked Questions

Can I hold both VNQI and BBRE in my portfolio?

VNQI and BBRE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNQI or BBRE?

VNQI has higher volatility (4.58%) compared to BBRE (4.15%). In terms of maximum drawdown, VNQI dropped -38.35% vs BBRE's -43.61%.

Which ETF is better, VNQI or BBRE?

On 5-year performance, BBRE leads with 4.69% vs -1.57% for VNQI. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNQI or BBRE?

Over the 5-year period, BBRE has performed better with a 4.69% return vs -1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNQI or BBRE?

BBRE is cheaper with a 0.11% expense ratio, compared with 0.12% for VNQI.

Which ETF pays a higher dividend yield, VNQI or BBRE?

VNQI has the higher dividend yield at 4.81%, compared with 2.77% for BBRE.

What is the main difference between VNQI and BBRE?

VNQI tracks S&P Global ex-U.S. Property Index, while BBRE tracks MSCI US REIT Index. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.12% for VNQI and 0.11% for BBRE.

Which has better risk-adjusted returns?

BBRE currently has the higher Sharpe Ratio (1.16 vs 0.42), 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.