Vanguard Real Estate ETF (VNQ) Performance
VNQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.7% since Dec 31, 2025
- 1 year
- +4.4% total return
- 5 years
- +0.6% a year
- 10 years
- +5.2% a year
- Since first price
- +7.4% a year since 2004
VNQ trailing returns vs SPY, QQQ, AGG
| Period | VNQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.4% | +1.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.3% | −6.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.2% | −2.9% | +7.8% | +8.4% | −1.5% |
| YTD | +7.7% | +4.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.4% | +0.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +45.4%+13.3%/yr | +29.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +3.3%+0.6%/yr | −15.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +65.4%+5.2%/yr | +11.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +203.9%+7.7%/yr | +68.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +183.7%+5.4%/yr | +22.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionSep 29, 2004 | +379.5%+7.4%/yr | +85.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VNQ vs SPY
From Sep 29, 2004: VNQ grew to $47,954, SPY to $101,734.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VNQ returns by calendar year
16 of 21 full years positive. Best 2021 (+40.5%), worst 2008 (−37.0%). 2026 is year to date.
VNQ annual returns table
| Year | VNQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.7% | −11.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +3.2% | −14.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.8% | −11.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +11.9% | −21.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −26.3% | −32.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +40.5% | −7.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −4.6% | −42.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +28.9% | −5.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −6.0% | −12.8% | −4.6% | −0.1% | +0.1% |
| 2017 | +4.9% | −6.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +8.6% | −15.2% | +12.0% | +7.1% | +2.4% |
| 2015 | +2.4% | −17.2% | +1.2% | +9.4% | +0.5% |
| 2014 | +30.4% | −7.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +2.3% | −18.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.6% | −9.0% | +16.0% | +18.1% | +3.8% |
| 2011 | +8.6% | −22.6% | +1.9% | +3.4% | +7.7% |
| 2010 | +28.4% | −17.0% | +15.1% | +19.9% | +6.4% |
| 2009 | +30.1% | −41.8% | +26.4% | +54.7% | +3.0% |
| 2008 | −37.0% | −63.7% | −36.8% | −41.7% | +7.9% |
| 2007 | −16.5% | −28.2% | +5.1% | +19.0% | +6.6% |
| 2006 | +35.3% | −10.2% | +15.8% | +7.1% | +3.9% |
| 2005 | +11.9% | −11.1% | +4.8% | +1.6% | +2.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VNQ largest drawdowns
Now 7.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 7, 2007 | −73.1% | Mar 6, 2009 | Sep 7, 2012 | 2.1 years | 5.6 years |
| Feb 21, 2020 | −42.4% | Mar 23, 2020 | Apr 15, 2021 | 31 days | 1.1 years |
| Dec 31, 2021 | −34.5% | Oct 25, 2023 | Jun 12, 2026 | 1.8 years | 4.4 years |
| May 21, 2013 | −18.0% | Aug 19, 2013 | Jun 5, 2014 | 3 months | 1.0 years |
| Jan 27, 2015 | −17.2% | Sep 4, 2015 | May 4, 2016 | 7 months | 1.3 years |
| Aug 1, 2016 | −16.3% | Feb 8, 2018 | Jan 31, 2019 | 1.5 years | 2.5 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VNQ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2004 |
|---|---|---|---|---|
| Annualized return | +10.0% | +1.4% | +4.4% | +7.2% |
| Volatility (annualized) | 16.6% | 19.2% | 17.7% | 21.5% |
| Sharpe ratio | 0.40 | -0.02 | 0.20 | — |
| Sortino ratio | 0.62 | -0.03 | 0.29 | — |
| Best month | +12.1% | +12.1% | +12.1% | +30.7% |
| Worst month | −8.4% | −12.9% | −19.4% | −31.7% |
| Best 12 months | +34.6% | +34.6% | +47.4% | +110.6% |
| Worst 12 months | −3.2% | −26.3% | −26.3% | −58.2% |
| Positive months | 64% | 55% | 60% | 60% |
| Beta vs S&P 500 | 0.87 | 0.97 | 0.89 | — |
| Correlation with S&P 500 | 0.65 | 0.79 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VNQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 254 | −58.2% | +8.8% | +110.6% | 73% |
| 3-year (a year) | 230 | −25.0% | +7.2% | +43.5% | 82% |
| 5-year (a year) | 206 | −2.2% | +6.5% | +29.6% | 97% |
| 10-year (a year) | 146 | +4.3% | +7.1% | +18.4% | 100% |
Every holding period starting at a month-end since 2004. Returns for 3 years and longer are annualized.
VNQ performance overview
Vanguard Real Estate ETF (VNQ) returned +4.4% over the past year and +5.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2004 it has returned +7.4% a year, turning $10,000 into about $47,954. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −73.1%, from Feb 7, 2007 to Mar 6, 2009, and it took 3.5 years to get back to the old high. VNQ finished 16 of its 21 full calendar years with a gain; the best year was 2021 (+40.5%) and the worst 2008 (−37.0%). Volatility has been 21.5% a year.
Related: VNQ chart, VNQ holdings, VNQ dividends, VNQ valuation. See the VNQ overview for the latest quote and fund facts.
VNQ performance FAQ
What is the VNQ return over the past year?
VNQ returned +4.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 0.6%.
What is the average annual return of VNQ?
VNQ has returned +0.6% a year over 5 years, +5.2% a year over 10 years, +7.4% a year since September 29, 2004 (total return, distributions reinvested).
How much would $10,000 invested in VNQ be worth?
$10,000 invested in VNQ at its first recorded close on September 29, 2004 would be worth about $47,954 on October 23, 2026 with distributions reinvested.
What was the worst year for VNQ?
The worst calendar year was 2008, with a total return of −37.0%. The best was 2021 at +40.5%.
What is the biggest drawdown of VNQ?
The largest peak-to-trough decline was −73.1% between February 7, 2007 and March 6, 2009. It recovered to the old high on September 7, 2012, 3.5 years after the bottom.
How volatile is VNQ?
Over the past 3 years VNQ had an annualized volatility of 16.6% and a Sharpe ratio of 0.40 (excess return over 1–3 month T-bills per unit of risk).