Vanguard Real Estate ETF
VNQ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Sep 29, 2004
- CIK
- 0000734383
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Real Estate ETF (VNQ) is an exchange-traded fund that provides investors with broad exposure to the U.S. real estate market by tracking the MSCI US Investable Market Real Estate 25/50 Index through a full replication technique. The fund primarily invests in equity real estate investment trusts (REITs), which own and operate income-producing properties such as residential, industrial, office, retail, healthcare, data centers, self-storage, and cell towers; real estate management and development firms like CBRE Group; excluding mortgage and hybrid REITs. Its portfolio comprises over 160 holdings, with the top 10—including Vanguard Real Estate II Index (14.49%), Welltower Inc. (7.82%), Prologis Inc. (6.70%), American Tower Corp. (4.77%), Equinix Inc. (4.14%), Simon Property Group Inc. (3.42%), Digital Realty Trust Inc. (3.07%), Realty Income Corp. (2.96%), CBRE Group Inc. (2.70%), and Public Storage (2.43%)—accounting for approximately 52% of assets; the fund maintains diversification across property types and market capitalizations with low turnover of around 1% annually. Launched on September 23, 2004, and domiciled in the United States with management by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, VNQ manages total net assets of approximately $34 billion as of late 2025 and offers a trailing 12-month dividend yield of about 3.96%, paid quarterly, with an expense ratio of 0.13%. Geographically focused on U.S. publicly traded real estate securities, it targets institutional and retail investors seeking sector-specific equity exposure with bond-like income characteristics sensitive to interest rates. In early 2025, Vanguard implemented its largest fee reductions across funds, reducing costs by an estimated $350 million; established a dedicated advice and wealth management division; and launched multiple low-cost bond ETFs internationally while exploring private assets collaborations with Wellington and Blackstone, though VNQ itself saw no direct structural changes such as acquisitions, new launches, or manager shifts beyond routine updates like Chris Nieves and Jena Stenger joining the team in February 2025. The fund has delivered a 9.05% annualized return from 1995 to 2025 inception benchmarks, benefiting from Federal Reserve rate cuts projected through 2026 that lower REIT borrowing costs and support property valuations amid resilient sectors like data centers and healthcare.