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
30.5 B
ASSETS UNDER MGMT
12 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard Group Inc/The |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 23, 2004 |
| Assets (mns) | $30,490 |
| Expense ratio | 12 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| PROLOGIS INC | 6.9 % |
| AMERICAN TOWER CORP-CL A | 6.2 % |
| EQUINIX INC | 6.0 % |
| WELLTOWER, INC. | 5.1 % |
| DIGITAL REALTY TRUST INC | 4.0 % |
| SIMON PROPERTY GROUP INC | 3.9 % |
| PUBLIC STORAGE | 3.4 % |
| REALTY INCOME CORP | 3.2 % |
| CROWN CASTLE INTL CORP | 2.8 % |
| CBRE GROUP, INC. CLASS A | 2.8 % |
Constituent Breakdown
| Number of holdings | 161 |
| Herfindahl-Hirschman Index | 276 |
| Wgt avg mkt cap (mns) | $39,135 |
| Large cap (>$10bn) | 82.0% |
| Mid cap ($2-10bn) | 15.0% |
| Small cap (<$2bn) | 3.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.3 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 14.4% | 25.1% | 10.7% | 1.4% | 5.2% | 6.3% | 8.1% | Volatility | 15.8% | 17.4% | 19.2% | 20.6% | 25.4% | 20.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 74% |
| MSCI EAFE | 1.06 | 70% |
| MSCI Emg Mkts | 0.83 | 43% |
Liquidity Measures
| Avg. volume (000) | 3,197 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $7,711 |
Technical Indicators
| Recent close | $89.33 |
| 30d moving avg. | $95.75 |
| Annualized volatility | 22.0% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 1.0% |
| 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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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 | 93.3% | -4 bp | 0.0% |
| SCHH | Schwab U.S. REIT ETF | 89.0% | -5 bp | +0.5% |
| DFAR | Dimensional US Real Estate ETF | 87.8% | +7 bp | +0.3% |
| IYR | iShares U.S. Real Estate ETF | 87.4% | +28 bp | -0.1% |
| USRT | iShares Core U.S. REIT ETF | 77.9% | -4 bp | +0.1% |
| FRI | First Trust S&P REIT Index Fund | 77.0% | +38 bp | -0.2% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 76.8% | -1 bp | +0.1% |
| XLRE | Real Estate Select Sector SPDR Fund | 73.3% | -3 bp | -0.3% |
| DFGR | Dimensional Global Real Estate ETF | 72.8% | +10 bp | +0.1% |
| REET | iShares Global REIT ETF | 71.7% | +2 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/20/2024
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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
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 Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
VNQ
6.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. VNQ's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places VNQ in the 65th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VNQSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| VNQ (12 bp) Percentile rank | 22 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VNQ | 12.0 | 1.3 | 13.3 |
| Peer Avg. | 28.8 | 6.6 | 35.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .