VNQI: Vanguard Global ex-U.S. Real Estate ETF returns, drawdowns and risk
Funds on listed real estate companies (REITs), in the US and abroad.
Data updated October 2026
VNQI · US exchange · USDCategory: Real estate (REIT) ETFsData from November 2010
From November 2010 to October 2026 VNQI returned 3.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $15,950.
Its deepest fall was 38.3%, from January 2020 to March 2020, and it took about 16 months to get back to the previous high. Annual volatility was 16.5%; at the last close it was 15.8% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 191 months both have data, the correlation of monthly returns was 0.69: they moved together only in part. Beta was 0.81. In months when SPY rose, VNQI moved 64% as much on average; in months when SPY fell, 101% as much.
Key figures
- Annual return (CAGR)
- +3.0%
- 1-year return
- −6.5%
- 5 years, a year
- −2.1%
- 10 years, a year
- +1.8%
- Annual volatility
- 16.5%
- Maximum drawdown
- −38.3%
- Sharpe ratio
- 0.17
- Worst year
- 2022: −22.9%
Trailing returns
| Period | VNQI | SPY |
|---|---|---|
| 1 year | −6.5% | +16.6% |
| 3 years, a year | +9.6% | +23.1% |
| 5 years, a year | −2.1% | +12.7% |
| 10 years, a year | +1.8% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: VNQI vs SPY
Month-end values from December 2010, the first month both funds have data.
VNQI drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | VNQI | SPY |
|---|---|---|
| 2026(partial) | −6.9% | +13.3% |
| 2025 | +21.4% | +17.7% |
| 2024 | −2.2% | +24.9% |
| 2023 | +7.0% | +26.2% |
| 2022 | −22.9% | −18.2% |
| 2021 | +5.9% | +28.7% |
| 2020 | −7.2% | +18.3% |
| 2019 | +22.4% | +31.2% |
| 2018 | −9.4% | −4.6% |
| 2017 | +26.9% | +21.7% |
| 2016 | +2.0% | +12.0% |
| 2015 | −1.8% | +1.2% |
| 2014 | +2.2% | +13.5% |
| 2013 | +2.3% | +32.3% |
| 2012 | +43.1% | +16.0% |
| 2011 | −16.9% | +1.9% |
| 2010(partial) | +1.7% | — |
VNQI compared
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.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of VNQI?
From November 2010 to October 2026 VNQI returned 3.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: −2.1% a year. Over the last 12 months: −6.5%.
What was the worst drawdown of VNQI?
38.3%, from January 2020 to March 2020; it took about 16 months from the previous high to get back to it.
How volatile is VNQI?
Annual volatility was 16.5% over the period. Its worst month was −20.7% and 56% of months were positive. Worst calendar year: 2022 (−22.9%).
How closely does VNQI follow SPY?
Over 191 months the correlation of monthly returns was 0.69, so they moved together only in part, with a beta of 0.81.
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Other Real estate (REIT) ETFs
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.