VNQI
Vanguard Global ex-U.S. Real Estate ETF
Vanguard Global ex-U.S. Real Estate ETF seeks to track the S&P Global ex-US Property Index, which includes real estate companies in both developed and emerging markets.
Global
EQUITY
Passive
MANAGEMENT STYLE
2.9 B
ASSETS UNDER MGMT
12 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard Group |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 01, 2010 |
| Assets (mns) | $2,939 |
| 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 +
| GOODMAN GROUP | 4.6 % |
| DEUTSCHE ANNINGTON IMMOBILIE | 2.7 % |
| EMAAR PROPERTIES PJSC | 2.6 % |
| MITSUI FUDOSAN CO LTD | 2.6 % |
| DAIWA HOUSE INDUSTRY CO LTD | 2.3 % |
| MITSUBISHI ESTATE CO LTD | 2.0 % |
| SUMITOMO REALTY & DEVELOPMNT | 1.8 % |
| SUN HUNG KAI PROPERTIES | 1.5 % |
| SEGRO PLC | 1.3 % |
| SCENTRE GROUP | 1.3 % |
Constituent Breakdown
| Number of holdings | 682 |
| Herfindahl-Hirschman Index | 83 |
| Wgt avg mkt cap (mns) | $8,674 |
| Large cap (>$10bn) | 28.9% |
| Mid cap ($2-10bn) | 48.7% |
| Small cap (<$2bn) | 22.2% |
| Developed mkts. | 81.1% |
| Emerging mkts. | 18.9% |
Country Exposure
 |
JAPAN | 21.5 % |
 |
AUSTRALIA | 11.6 % |
 |
HONG KONG | 8.7 % |
 |
BRITAIN | 6.1 % |
 |
SINGAPORE | 5.5 % |
 |
UAE | 3.9 % |
 |
GERMANY | 3.8 % |
 |
INDIA | 3.1 % |
 |
SWITZERLAND | 2.6 % |
 |
SWEDEN | 2.4 % |
Historical Performance
Standardized Performance (as of 01/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 1.4% | -1.3% | -2.9% | -7.5% | -4.7% | 0.4% | 2.1% | Volatility | 14.1% | 14.7% | 15.0% | 16.9% | 19.2% | 16.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.82 | 52% |
| MSCI EAFE | 1.03 | 81% |
| MSCI Emg Mkts | 0.96 | 72% |
Liquidity Measures
| Avg. volume (000) | 289 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $3,238 |
Technical Indicators
| Recent close | $40.62 |
| 30d moving avg. | $39.73 |
| Annualized volatility | 19.7% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.8% |
| Short interest (underlying) | 0.0% |
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. VNQI |
Expenses vs. VNQI |
ALTAR Score™ vs. VNQI |
|---|---|---|---|---|
| HAUZ | DBX ETF Trust - Xtrackers International Real Estate ETF | 72.5% | -2 bp | -0.4% |
| IFGL | iShares International Developed Real Estate ETF | 62.3% | +36 bp | -1.4% |
| RWX | SPDR Dow Jones International Real Estate ETF | 39.8% | +47 bp | -0.8% |
| ERET | iShares Environmentally Aware Real Estate ETF | 32.7% | +18 bp | -1.6% |
| VGSR | Vert Global Sustainable Real Estate ETF | 28.4% | +35 bp | -2.3% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 25.2% | +38 bp | -1.9% |
| REET | iShares Global REIT ETF | 24.5% | +2 bp | -1.8% |
| AVRE | Avantis Real Estate ETF | 24.2% | +5 bp | -2.2% |
| DFGR | Dimensional Global Real Estate ETF | 22.6% | +10 bp | -1.8% |
| GQRE | FlexShares Global Quality Real Estate Index Fund | 21.1% | +33 bp | -1.7% |
Risk and Returns: VNQI 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 2/21/2025
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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
VNQI
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
VNQI
8.1%
Cat. Avg
4.0%
ALTAR Score™ Calculation
Category Overview
There are 361 funds in the Global Equity category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.7%. VNQI's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places VNQI in the 81st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VNQISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| VNQI (12 bp) Percentile rank | 4 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VNQI | 12.0 | 14.8 | 26.8 |
| Peer Avg. | 25.4 | 7.7 | 33.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .