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
3.0 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) | $2,967 |
| 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 | 3.8 % |
| MITSUI FUDOSAN CO LTD | 3.0 % |
| DEUTSCHE ANNINGTON IMMOBILIE | 2.8 % |
| EMAAR PROPERTIES PJSC | 2.5 % |
| MITSUBISHI ESTATE CO LTD | 2.4 % |
| DAIWA HOUSE INDUSTRY CO LTD | 2.4 % |
| SUMITOMO REALTY & DEVELOPMNT | 1.9 % |
| SUN HUNG KAI PROPERTIES | 1.4 % |
| SEGRO PLC | 1.2 % |
| LINK REIT | 1.2 % |
Constituent Breakdown
| Number of holdings | 678 |
| Herfindahl-Hirschman Index | 86 |
| Wgt avg mkt cap (mns) | $8,690 |
| Large cap (>$10bn) | 33.0% |
| Mid cap ($2-10bn) | 44.9% |
| Small cap (<$2bn) | 21.9% |
| Developed mkts. | 81.1% |
| Emerging mkts. | 18.9% |
Country Exposure
 |
JAPAN | 23.1 % |
 |
AUSTRALIA | 10.4 % |
 |
HONG KONG | 8.6 % |
 |
BRITAIN | 6.1 % |
 |
SINGAPORE | 5.6 % |
 |
GERMANY | 3.9 % |
 |
UAE | 3.7 % |
 |
INDIA | 3.1 % |
 |
SWITZERLAND | 2.8 % |
 |
CHINA | 2.5 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 1.9% | 0.2% | -1.7% | -8.0% | -5.7% | -3.4% | -- | -1.5% |
| Dividend Yield | 0.4% | -4.2% | 1.1% | -0.1% | 5.9% | 3.1% | -- | 3.7% |
| Total Returns | 2.3% | -4.0% | -0.6% | -8.1% | 0.2% | -0.3% | -- | 2.2% | Ann. Volatility | 11.9% | 14.4% | 14.8% | 16.8% | 19.1% | 16.4% | -- | 16.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 48% |
| MSCI EAFE | 1.02 | 81% |
| MSCI Emg Mkts | 0.98 | 74% |
Liquidity Measures
| Avg. volume (000) | 277 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $3,238 |
Technical Indicators
| Recent close | $41.13 |
| 30d moving avg. | $40.33 |
| Annualized volatility | 19.7% |
| Relative strength (RSI) | 51 |
| 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 | 72.1% | -2 bp | -0.2% |
| IFGL | iShares International Developed Real Estate ETF | 62.9% | +36 bp | -1.5% |
| RWX | SPDR Dow Jones International Real Estate ETF | 40.8% | +47 bp | -1.9% |
| ERET | iShares Environmentally Aware Real Estate ETF | 34.9% | +18 bp | -4.4% |
| VGSR | Vert Global Sustainable Real Estate ETF | 29.5% | +35 bp | -4.6% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 27.4% | +38 bp | -4.6% |
| REET | iShares Global REIT ETF | 25.9% | +2 bp | -4.1% |
| DFGR | Dimensional Global Real Estate ETF | 23.8% | +10 bp | -4.3% |
| AVRE | Avantis Real Estate ETF | 23.7% | +5 bp | -4.2% |
| GQRE | FlexShares Global Quality Real Estate Index Fund | 21.0% | +33 bp | -3.3% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/15/2025
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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
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™
VNQI
7.6%
Cat. Avg
4.8%
ALTAR Score™ Calculation
Category Overview
There are 366 funds in the Global Equity category, with an average ALTAR Score™
of 4.8% and a standard deviation of
4.2%. VNQI's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places VNQI in the 75th 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 .