VNQ

Vanguard REIT Index Fund

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


Passive, Semi-Diverse

MANAGEMENT MATRIX

FREL

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorVanguard Group Inc/The
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateSep 23, 2004
Assets (mns)$35,194
Expense ratio12 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyDelayed
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
PROLOGIS INC 7.4 %
AMERICAN TOWER CORP-CL A 6.8 %
EQUINIX INC 4.3 %
CROWN CASTLE INTL CORP 4.1 %
PUBLIC STORAGE 3.2 %
SIMON PROPERTY GROUP INC 2.6 %
REALTY INCOME CORP 2.6 %
SBA COMMUNICATIONS CORP. CLASS A 2.2 %
WELLTOWER, INC. 2.1 %
DIGITAL REALTY TRUST INC 2.1 %
Constituent Breakdown
Number of holdings170
Herfindahl-Hirschman Index 218
Wgt avg mkt cap (mns)$30,610
Large cap (>$10bn)75.6%
Mid cap ($2-10bn)19.1%
Small cap (<$2bn)5.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 87.6 %
Historical Performance


Standardized Annual Returns (as of 11/30/2022)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-22.3% -14.8% 5.9% 1.6% 4.7% 7.4% 7.7%
Market Correlations
versus...BetaR-squared
S&P 5000.9883%
MSCI EAFE0.9375%
MSCI Emg Mkts0.7046%
Liquidity Measures
Avg. volume (000)5,838
Turnover1.4%
Avg. Bid/Ask (% of price)0.01%
ADV of underlying (mns)$7,018
Technical Indicators
Recent close$85.22
30d moving avg.$84.14
Annualized volatility22.6%
Relative strength (RSI)63
Short interest (ETF)3.0%
Short interest (underlying)2.4%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: VNQ vs. Comps (1 YR)

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Results & Estimates
  2017 2018 2019 2020 2021 2022E 2023E  
Sales per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2021 2022E Fwd Est 2023E
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 --%
4.6 15.4 2.3 3.9% --
Based on closing prices from 12/6/2022
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
VNQ



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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

VNQ

6.7%

Cat. Avg

6.6%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.7%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 874 funds in the US Equities category, with an average ALTAR Score™ of 6.6% and a standard deviation of 3.0%. VNQ's ALTAR Score™ is approximately 0.1 standard deviations above the category average. This places VNQ in the 52nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
VNQ
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
VNQ 12.0 1.2 13.2
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.