VNQ vs VNQI
Vanguard Real Estate Index Fund ETF Shares vs Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares
Last updated: 2026-04-02
Vanguard Real Estate Index Fund ETF Shares (VNQ) is an exchange-traded fund issued by Vanguard that provides exposure to U.S. real estate investment trusts (REITs) and real estate companies. It charges a low expense ratio of 0.13%. The fund offers an attractive dividend yield of 3.92%. Launched in 2004, the fund has a 22-year track record.
Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares (VNQI) is an exchange-traded fund that provides exposure to international real estate securities. It charges a low expense ratio of 0.12%. The fund offers a high dividend yield of 4.80%. Launched in 2010, the fund has a 16-year track record.
Quick Verdict
Both funds have nearly identical expense ratios (0.12% vs 0.13%), so fees are not a differentiator here. Over the past year, VNQI has significantly outperformed with a 10.6% return vs -1.7%. Income investors may prefer VNQI for its higher yield (4.8% vs 3.9%).
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
0 of top 10 holdings overlap (0% overlap in top holdings)
VNQ Top Holdings
| Name | Weight |
|---|---|
| Vanguard Real Estate II Index Fund!mutf/VRTPX | 14.38% |
| Welltower Inc.WELL | 7.52% |
| Prologis, Inc.PLD | 7.08% |
| Equinix, Inc.EQIX | 5.11% |
| American Tower CorporationAMT | 4.80% |
| Simon Property Group, Inc.SPG | 3.56% |
| Realty Income CorporationO | 3.27% |
| Digital Realty Trust, Inc.DLR | 3.25% |
| Public StoragePSA | 2.59% |
| CBRE Group, Inc.CBRE | 2.35% |
VNQI Top Holdings
| Name | Weight |
|---|---|
| Mitsubishi Estate Co., Ltd.!tyo/8802 | 3.50% |
| Goodman Group!asx/GMG | 3.49% |
| Mitsui Fudosan Co., Ltd.!tyo/8801 | 3.12% |
| Sumitomo Realty & Development Co., Ltd.!tyo/8830 | 2.63% |
| Sun Hung Kai Properties Limited!hkg/0016 | 2.37% |
| Vonovia SE!etr/VNA | 2.37% |
| Emaar Properties PJSCEMAAR.DB | 2.27% |
| Daiwa House Industry Co., Ltd.!tyo/1925 | 1.82% |
| SEGRO Plc!lon/SGRO | 1.27% |
| Swiss Prime Site AG!swx/SPSN | 1.27% |
Which One Should You Choose?
Choose VNQI if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.
Choose VNQI if...
you prioritize dividend income and want higher regular distributions from your portfolio.