VNQI vs SPY

Comparison between VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEX FUND ETF SHARES (VNQI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed VNQI, delivering a return of +13.3% compared to +0.0%

VNQI vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VNQI(ETF)	SPY(ETF)
Net Assets	$3.70B	$652B
Expense Ratio	0.12%	0.09%
Max Drawdown	43.72%	56.47%
Sharpe Ratio	0.82	2.07
5Y Beta	0.48	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

VNQI

$3.70B

Winner

SPY

$652B

Expense Ratio

VNQI

0.12%

Winner

SPY

0.09%

Max Drawdown

Winner

VNQI

43.72%

SPY

56.47%

Sharpe Ratio

VNQI

0.82

Winner

SPY

2.07

5Y Beta

Winner

VNQI

0.48

SPY

1.00

P/E Ratio

VNQI

N/A

SPY

28.24

Forward P/E

VNQI

N/A

SPY

21.85

5Y Dividends CAGR

VNQI

N/A

SPY

5.43%

5Y EPS CAGR

VNQI

N/A

SPY

25.79%

Debt to Equity

VNQI

N/A

SPY

22.35%

P/S Ratio

VNQI

N/A

SPY

3.55

P/B Ratio

VNQI

N/A

SPY

5.29

VNQI vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	VNQI	SPY
1 month	+1.88%	+9.11%
3 months	-4.08%	+6.59%
6 months	+5.37%	+10.56%
1 year	+15.92%	+32.04%
5 years(CAGR)	+0.04%	+13.35%
10 years(CAGR)	+3.07%	+15.49%
Max(CAGR)	+3.75%	+8.50%

VNQI

+1.88%

Winner

SPY

+9.11%

VNQI

-4.08%

Winner

SPY

+6.59%

VNQI

+5.37%

Winner

SPY

+10.56%

VNQI

+15.92%

Winner

SPY

+32.04%

5Y(CAGR)

VNQI

+0.04%

Winner

SPY

+13.35%

10Y(CAGR)

VNQI

+3.07%

Winner

SPY

+15.49%

Max(CAGR)

VNQI

+3.75%

Winner

SPY

+8.50%

VNQI vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	VNQI	SPY
2026	+3.69%	+8.27%
2025	+22.21%	+18.00%
2024	-0.65%	+25.59%
2023	+5.60%	+26.72%
2022	-23.09%	-18.64%
2021	+7.00%	+30.52%
2020	-7.77%	+17.28%
2019	+22.46%	+31.09%
2018	-10.62%	-5.24%
2017	+26.19%	+20.78%
2016	+3.10%	+13.59%
2015	-2.29%	+1.31%
2014	+3.80%	+14.56%
2013	+0.80%	+29.00%
2012	+39.74%	+14.17%
2011	-17.41%	+0.85%
2010	+1.64%	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

VNQI vs SPY Drawdown Comparison

The maximum drawdown for VNQI was -38.35%, occurring on Mar 23, 2020. Recovery took 344 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current VNQI drawdown is -5.99%.

Rank	VNQI	SPY
#1	-38.35% Jan 17, 2020 - Jun 1, 2021	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-35.77% Jun 10, 2021 - Feb 9, 2026	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-24.53% May 2, 2011 - Sep 12, 2012	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-21.53% May 15, 2015 - May 15, 2017	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-18.53% May 3, 2013 - Apr 6, 2015	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-18.18% Jan 26, 2018 - Nov 4, 2019	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-14.78% Feb 26, 2026 - Mar 27, 2026	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-10.16% Nov 4, 2010 - Apr 21, 2011	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-3.56% May 4, 2015 - May 15, 2015	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-3.54% Nov 4, 2019 - Dec 20, 2019	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-3.40% Nov 6, 2012 - Nov 28, 2012	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-3.18% Jun 7, 2017 - Jul 19, 2017	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-3.14% Feb 1, 2013 - Mar 1, 2013	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-2.48% Sep 18, 2017 - Oct 13, 2017	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-2.22% Apr 12, 2013 - Apr 19, 2013	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between VNQI and SPY is 0.65 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.65

-101

Dividend Comparison (1999 - 2026)

VNQI vs SPY dividend yield comparison.

Year	VNQI	SPY
2026	0.00%	0.24%
2025	4.70%	1.07%
2024	5.16%	1.21%
2023	3.74%	1.40%
2022	0.57%	1.65%
2021	6.48%	1.20%
2020	0.93%	1.52%
2019	7.58%	1.75%
2018	4.62%	2.04%
2017	3.86%	1.80%
2016	5.18%	2.03%
2015	2.86%	2.06%
2014	4.11%	1.87%
2013	3.27%	1.81%
2012	5.58%	2.18%
2011	3.28%	2.05%
2010	0.88%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%