VNQ
Vanguard Real Estate ETF
Vanguard REIT ETF seeks to track the performance of the MSCI REIT Index. The Fund invests in the stocks that make up the Index, holding each stock in the same proportion as its weighting in the
US
EQUITY
Passive
MANAGEMENT STYLE
$ 30.9 B
ASSETS UNDER MGMT
13 bp
EXPENSES
Fund Basics
| Inception date | Sep 23, 2004 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| WELLTOWER, INC. | 9.1 % |
| PROLOGIS INC | 8.1 % |
| EQUINIX INC | 6.2 % |
| AMERICAN TOWER CORP-CL A | 5.7 % |
| DIGITAL REALTY TRUST INC | 4.0 % |
| SIMON PROPERTY GROUP INC | 4.0 % |
| REALTY INCOME CORP | 3.8 % |
| PUBLIC STORAGE | 3.1 % |
| CBRE GROUP, INC. CLASS A | 2.6 % |
| VENTAS INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 155 |
| Herfindahl-Hirschman Index | 333 |
| Wgt avg mkt cap (mns) | $47,075 |
| Large cap (>$10bn) | 80.3% |
| Mid cap ($2-10bn) | 13.9% |
| Small cap (<$2bn) | 2.9% |
| Developed mkts. | 97.1% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 97.0 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 8.1% | 1.9% | 5.8% | 3.7% | 1.7% | 2.2% | 1.9% | 3.1% |
| Dividend Yield | 0.0% | 4.0% | 4.2% | 4.3% | 3.8% | 4.1% | 4.4% | 4.5% |
| Total Returns | 8.1% | 5.9% | 9.9% | 8.0% | 5.6% | 6.4% | 6.3% | 7.6% | Ann. Volatility | 12.9% | 16.6% | 16.2% | 17.4% | 18.8% | 20.7% | 29.3% | 28.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.55 | 41% |
| MSCI EAFE | 0.69 | 46% |
| MSCI Emg Mkts | 0.47 | 26% |
Liquidity Measures
| Avg. volume (000) | 4,079 |
| ADV traded (mns) | $376 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.01% |
Technical Indicators
| 30d moving avg. (EMA) | $93.28 |
| Relative strength (RSI) | 50 |
| MACD/Signal | 0.12/0.64 |
| Bollinger Bands (Upper/Lower) | $96.71/$92.18 |
| Short interest (% of AUM) | 2.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. VNQ |
Expenses vs. VNQ |
ALTAR Score™ vs. VNQ |
|---|---|---|---|---|
| FREL | Fidelity MSCI Real Estate Index ETF | 90.3% | -5 bp | +0.2% |
| SCHH | Schwab U.S. REIT ETF | 87.9% | -6 bp | +0.5% |
| IYR | iShares U.S. Real Estate ETF | 84.6% | +27 bp | +0.1% |
| DFAR | Dimensional US Real Estate ETF | 84.5% | +6 bp | +0.6% |
| FRI | First Trust S&P REIT Index Fund | 79.3% | +37 bp | -0.1% |
| USRT | iShares Core U.S. REIT ETF | 79.2% | -5 bp | +0.4% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 76.3% | -2 bp | +0.6% |
| XLRE | Real Estate Select Sector SPDR | 73.8% | -5 bp | +0.3% |
| DFGR | Dimensional Global Real Estate ETF | 73.0% | +9 bp | +0.4% |
| RWR | State Street SPDR Dow Jones REIT ETF | 71.1% | +12 bp | +0.1% |
Risk and Returns: VNQ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 3/14/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
7.4%
ALTAR SCORE™
80th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 1,190 funds in the US Equity category with an average
ALTAR Score™ of 5.7% and a standard deviation
of 2.1%. VNQ's ALTAR Score™ is approximately 0.8 standard
deviations above the category average. This places VNQ in the 80th percentile
among funds in the category.
Sell-Side Consensus
$105.81
PRICE TARGET
+14.8%
UPSIDE