Vanguard Real Estate ETF (VNQ)
Description
The Vanguard Real Estate ETF provides broad exposure to the U.S. real estate market by investing in a wide range of REITs and real estate operating companies. As the largest fund in its category, it covers multiple property types without favoring any particular sector or strategy. With a relatively low expense ratio, the ETF offers investors a cost-effective entry point into the market. Its historical returns, closely aligning with the category average, illustrate the relatively small performance gaps that exist between competing funds in this industry.
Index: MSCI US Investable Market Real Estate 25/50
The MSCI US IMI Real Estate 25/50 Index represents large, mid, and small-cap segments of the U.S. equity market. It includes only securities classified within the Real Estate sector according to the Global Industry Classification Standard (GICS®).
Sectors
?Real estate sectors vary in risk and opportunity based on market conditions. The financial ratios highlight pricing and leverage in each sector, helping you evaluate the ETF’s diversification and potential risks.
Click here for further information about real estate sectors.
Click here for further information about real estate sectors.
Average Ratios
?These metrics reveal key insights about the ETF's financial profile. The FFO Multiple shows how the market values the ETF’s cash flow, while Debt/EBITDA and Debt Ratio highlight its leverage and financial stability. Together, they help you evaluate the ETF’s valuation and risk profile.
Click here for further information about FFO Multiples.
Click here for further information about FFO Multiples.
FFO Multiple 2026
18.5
FFO Multiple 2027
17.0
Debt/EBITDA
7.6
Debt Ratio
29.5%
Last updated at 2026-04-06, calculated using 78% of holdings.
Top Holdings
| # | Name | Ticker | Sector | Holding Percentage | Dividend Yield | FFO Multiple 2026 | FFO Multiple 2027 | Debt/EBITDA | Debt Ratio |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Welltower Inc. | WELL | Health Care REITs | 7.54% | 1.57% | 33.3 | 29.2 | 7.93 | 15.20% |
| 2 | Prologis | PLD | Industrial REITs | 7.10% | 3.09% | 21.6 | 20.1 | 3.94 | 25.40% |
| 3 | Equinix Inc | EQIX | Data Center REITs | 5.13% | 2.29% | 24.9 | 23.2 | 5.72 | 22.90% |
| 4 | American Tower Corp | AMT | Telecom Tower REITs | 4.81% | 3.79% | 15.9 | 15.1 | 32.58 | 33.30% |
| 5 | Simon Property Group | SPG | Retail REITs | 3.57% | 4.60% | 14.5 | 14.1 | 4.71 | 29.40% |
| 6 | Realty Income | O | Retail REITs | 3.28% | 5.30% | 13.9 | 13.5 | 5.49 | 35.90% |
| 7 | Digital Realty Trust | DLR | Data Center REITs | 3.26% | 2.94% | 23.2 | 21.2 | 8.80 | 26.50% |
| 8 | Public Storage | PSA | Self Storage REITs | 2.60% | 4.34% | 16.5 | 15.9 | 2.51 | 16.80% |
| 9 | CBRE Group Inc | CBRE | Real Estate Services | 2.36% | |||||
| 10 | Ventas Inc | VTR | Health Care REITs | 2.17% | 2.47% | 22.0 | 20.1 | 6.98 | 29.30% |
| 11 | Crown Castle Inc | CCI | Telecom Tower REITs | 2.09% | 4.90% | 18.0 | 15.9 | 6.71 | 41.30% |
| 12 | Extra Space Storage | EXR | Self Storage REITs | 1.72% | 4.70% | 16.2 | 15.7 | 4.94 | 29.70% |
| 13 | Iron Mountain | IRM | Specialized REITs | 1.72% | 3.75% | 18.3 | 16.3 | 6.95 | 38.80% |
| 14 | VICI Properties | VICI | Specialized REITs | 1.62% | 6.41% | 11.3 | 10.9 | 4.63 | 33.90% |
| 15 | Avalonbay Communities | AVB | Residential REITs | 1.35% | 3.94% | 14.4 | 13.8 | 4.06 | 25.70% |
| 16 | Equity Residential | EQR | Residential REITs | 1.22% | 4.44% | 14.6 | 14.0 | 4.34 | 25.70% |
| 17 | SBA Communications | SBAC | Telecom Tower REITs | 1.15% | 2.41% | 16.7 | 16.9 | 8.69 | 42.30% |
| 18 | CoStar Group Inc | CSGP | Real Estate Services | 1.01% | |||||
| 19 | Weyerhaeuser | WY | Timberland REITs | 0.95% | 3.26% | 28.5 | 14.7 | 8.43 | 24.10% |
| 20 | Sun Communities | SUI | Residential REITs | 0.90% | 3.26% | 18.4 | 17.4 | 7.91 | 20.40% |
Related Articles
Yields
Relative Performance
Error: Data missing for year 2025.
Yield Histograms
?The histograms show the range and frequency of annual returns for the ETF and a comparable benchmark. They help investors assess the ETF’s historical performance, volatility, and risk profile, offering insights into how it may behave in different market conditions.
Vanguard Real Estate ETF
(2005-2024)
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