Overview
The largest real estate fund in the world — ~160 US REITs spanning data centres, cell towers, warehouses, healthcare and housing, with mortgage REITs excluded.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| PLD | Prologis Inc. | 7.4% |
| AMT | American Tower | 6.4% |
| EQIX | Equinix Inc. | 5.6% |
| WELL | Welltower Inc. | 5.2% |
| SPG | Simon Property Group | 3.4% |
| DLR | Digital Realty Trust | 3.2% |
| PSA | Public Storage | 2.9% |
| O | Realty Income | 2.8% |
| CCI | Crown Castle | 2.5% |
| CBRE | CBRE Group | 2.4% |
Fund Details
Investment Thesis
VNQ is broader and cheaper than the S&P-based XLRE, reaching into mid and small-cap REITs for a more complete picture of US property. The modern portfolio is dominated by digital infrastructure — data centres, cell towers, logistics — rather than offices and malls, making VNQ substantially a landlord to the internet. REITs must pay out at least 90% of taxable income, which underwrites the fund's consistently above-market yield; the offsetting sensitivity is to interest rates.
Who It's For
Income investors and diversifiers who want liquid property exposure with a 3.5% yield. Distributions are mostly taxed as ordinary income, so VNQ belongs in tax-advantaged accounts where possible.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $58.29 | -- |
| 2017 | $61.14 | +4.9% |
| 2018 | $57.47 | -6.0% |
| 2019 | $74.08 | +28.9% |
| 2020 | $70.60 | -4.7% |
| 2021 | $99.12 | +40.4% |
| 2022 | $73.15 | -26.2% |
| 2023 | $81.78 | +11.8% |
| 2024 | $85.71 | +4.8% |
| 2025 | $90.85 | +6.0% |
| Year | Yield |
|---|---|
| 2016 | 3.80% |
| 2017 | 3.80% |
| 2018 | 4.10% |
| 2019 | 3.60% |
| 2020 | 3.90% |
| 2021 | 3.40% |
| 2022 | 2.60% |
| 2023 | 3.90% |
| 2024 | 4.20% |
| 2025 | 3.51% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $32B | -- |
| 2017 | $32B | +0.0% |
| 2018 | $33B | +3.1% |
| 2019 | $33B | +0.0% |
| 2020 | $33B | +0.0% |
| 2021 | $34B | +3.0% |
| 2022 | $34B | +0.0% |
| 2023 | $34B | +0.0% |
| 2024 | $35B | +2.9% |
| 2025 | $35B | +0.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related US Sectors ETFs
Markets. Intelligence. Daily.
Full briefs on 400+ ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →