VNQI vs. T

Last updated Jun 9, 2026

VNQI (Vanguard Global ex-U.S. Real Estate ETF) is REIT fund tracking the S&P Global ex-U.S. Property Index, while T (AT&T Inc.) is a stock. Over the past 10 years, VNQI returned 2.19%/yr vs 2.86%/yr for T. At a 0.37 correlation, their price movements are largely independent.

Performance

VNQI vs. T - 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 AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNQI achieves a -3.93% return, which is significantly higher than T's -7.40% return. Over the past 10 years, VNQI has underperformed T with an annualized return of 2.19%, while T has yielded a comparatively higher 2.86% annualized return.

VNQI

• 1D: 0.18%
• 1M: -7.71%
• YTD: -3.93%
• 6M: -1.82%
• 1Y: 3.28%
• 3Y*: 7.32%
• 5Y*: -2.20%
• 10Y*: 2.19%

T

• 1D: -1.10%
• 1M: -10.57%
• YTD: -7.40%
• 6M: -7.40%
• 1Y: -16.38%
• 3Y*: 18.39%
• 5Y*: 6.60%
• 10Y*: 2.86%

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

VNQI vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNQI Vanguard Global ex-U.S. Real Estate ETF	-3.93%	21.38%	-2.22%	6.99%	-22.94%	5.93%	-7.22%	21.59%	-9.44%	26.91%
T AT&T Inc.	-7.40%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between VNQI and T is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010	0.37

Over the past year, the correlation between VNQI and T has dropped to 0.12 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

VNQI vs. T — Risk / Return Rank

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

VNQI

VNQI Risk / Return Rank: 13
VNQI Sharpe Ratio Rank: 13
VNQI Sortino Ratio Rank: 13
VNQI Omega Ratio Rank: 13
VNQI Calmar Ratio Rank: 12
VNQI Martin Ratio Rank: 13

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 11
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 14
T Martin Ratio Rank: 4

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. T - 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 AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	0.24	-0.75	+0.99
Sortino ratio: Return per unit of downside risk	0.44	-0.98	+1.41
Omega ratio: Gain probability vs. loss probability	1.05	0.89	+0.17
Calmar ratio: Return relative to maximum drawdown	0.22	-0.75	+0.97
Martin ratio: Return relative to average drawdown	0.66	-1.59	+2.24
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. T - Sharpe Ratio Comparison

The current VNQI Sharpe Ratio is 0.24, which is higher than the T Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of VNQI and T, 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	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	-0.75	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.28	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.12	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.38	-0.18

Drawdowns

VNQI vs. T - Drawdown Comparison

The maximum VNQI drawdown since its inception was -38.35%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for VNQI and T.

Drawdown Indicators

	VNQI	T	Difference
Max Drawdown Largest peak-to-trough decline	-38.35%	-64.15%	+25.80%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-21.87%	+7.09%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-21.87%	+5.52%
Max Drawdown (5Y) Largest decline over 5 years	-35.75%	-32.01%	-3.74%
Max Drawdown (10Y) Largest decline over 10 years	-38.35%	-42.35%	+4.00%
Current Drawdown Current decline from peak	-13.24%	-21.87%	+8.63%
Average Drawdown Average peak-to-trough decline	-10.89%	-15.72%	+4.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	10.34%	-5.35%

Volatility

VNQI vs. T - Volatility Comparison

The current volatility for Vanguard Global ex-U.S. Real Estate ETF (VNQI) is 3.90%, while AT&T Inc. (T) has a volatility of 7.50%. This indicates that VNQI experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNQI	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	7.50%	-3.60%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	17.57%	-5.96%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	21.98%	-8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.52%	23.97%	-8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	23.71%	-7.64%

Dividends

VNQI vs. T - Dividend Comparison

VNQI's dividend yield for the trailing twelve months is around 4.90%, which matches T's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
T AT&T Inc.	4.93%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.90%	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 T in my portfolio?

VNQI and T have a correlation of 0.12, 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 T?

T has higher volatility (7.50%) compared to VNQI (3.90%). In terms of maximum drawdown, VNQI dropped -38.35% vs T's -64.15%.

Which has better risk-adjusted returns?

VNQI currently has the higher Sharpe Ratio (0.24 vs -0.75), 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.