VNQ vs SCHH: returns, risk and drawdowns compared
Vanguard Real Estate ETF against Schwab U.S. REIT ETF, over the same 6 years (July 2020 to October 2026) with dividends reinvested.
Data updated October 2026
From July 2020 to October 2026, VNQ returned 6.5% a year and SCHH 6.7% a year on average, so SCHH came out ahead by 0.2% a year. VNQ was the more volatile of the two (18.3% against 17.9% a year), and the deepest falls from a month-end high were 32.7% for VNQ and 31.5% for SCHH.
The correlation of monthly returns was 1.00: they moved almost in lockstep. Over 41 rolling 3-year periods, VNQ did better in 32% and SCHH in 68%.
Side by side
| VNQ | SCHH | |
|---|---|---|
| Annual return (CAGR) | +6.5% | +6.7% |
| Total return | +49% | +51% |
| Annual volatility | 18.3% | 17.9% |
| Maximum drawdown (month-end) | −32.7% | −31.5% |
| Worst month | −12.9% | −12.6% |
| Best month | +12.1% | +11.6% |
| Positive months | 61% | 59% |
| Best year | 2021: +40.5% | 2021: +39.9% |
| Worst year | 2022: −26.2% | 2022: −25.0% |
| 1-year return | +4.0% | +7.1% |
| 5 years, a year | +0.7% | +1.4% |
| 10 years, a year | — | +3.1% |
| Trading currency | USD | USD |
First nine rows: the same 76 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VNQ vs SCHH
Returns by calendar year
| Year | VNQ | SCHH |
|---|---|---|
| 2025 | +3.2% | +2.2% |
| 2024 | +4.8% | +5.0% |
| 2023 | +11.8% | +11.2% |
| 2022 | −26.2% | −25.0% |
| 2021 | +40.5% | +39.9% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, VNQ or SCHH?
From July 2020 to October 2026, VNQ returned +6.5% a year and SCHH +6.7% a year, with dividends reinvested. Over rolling 3-year periods VNQ did better in 32% of cases. Past returns do not predict future returns.
Which is riskier, VNQ or SCHH?
Over the same months annual volatility was 18.3% for VNQ and 17.9% for SCHH; the deepest fall from a month-end high was 32.7% and 31.5%, and the worst single month −12.9% and −12.6%.
How correlated are VNQ and SCHH?
The correlation of their monthly returns was 1.00: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.