VNQ vs VTV
Vanguard Real Estate ETF vs Vanguard Morningstar Value ETF
Which is better, VNQ or VTV?
Mid Cap Blend against Large Cap Value.
VTV has a lower expense ratio. VTV led over 1Y, 3Y, 5Y and the full window. VTV is less concentrated, with 23.6% of the fund in its ten largest positions against 54.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VNQ | VTV |
|---|---|---|
| Expense Ratio | 0.13% | 0.03%Best |
| AUM | $39.3B | $187.8B |
| Dividend Yield | 3.49% | 1.82% |
| Holdings | 144 | 311 |
| YTD Return | +9.19% | +17.38%Best |
| 1Y Return | +5.61% | +22.89%Best |
| 3Y Return (annualized) | +9.40% | +18.82%Best |
| 5Y Return (annualized) | +1.41% | +12.57%Best |
| Volatility (annualized) | 21.4% | 14.7%Best |
| Max Drawdown | -75.8% | -61.3%Best |
| $10,000 over 5 years | $10,725 | $18,076Best |
| Top 10 Weight | 54.1% | 23.6%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Value |
| Inception | Sep 23, 2004 | Jan 26, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Sep 29, 2004 to Sep 11, 2026 (21.9 years).
VNQ vs VTV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 21.9 years both funds cover.
VNQ vs VTV Performance
Vanguard Real Estate ETF (VNQ) is an ETF from Vanguard (US) and Vanguard Morningstar Value ETF (VTV) is an ETF from Vanguard (US). Over the past year VNQ returned +5.61% while VTV returned +22.89%. Year to date, VNQ is up 9.19% versus a gain of 17.38% for VTV.
Over three years, VNQ compounded at +9.40% per year against +18.82% for VTV; over five years the annualized figures are +1.41% and +12.57% respectively. Across the full 22-year window we track, VTV has the edge at +7.68% annualized vs +3.94%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VNQ has been the more volatile fund, with annualized monthly volatility of 21.4% compared with 14.7% for VTV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -75.8% for VNQ and -61.3% for VTV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VNQ charges 0.13% per year while VTV charges 0.03%. On a $10,000 position that is $13 vs $3 annually, a gap of $10 per year that compounds over a long holding period. On income, VNQ currently yields 3.49% against 1.82% for VTV.
Holdings Overlap
37.4% of VNQ's money is in holdings VTV also owns. 2.5% of VTV's money is in holdings VNQ also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 144 positions we hold weights for in VNQ and 308 in VTV, against full books of 144 and 311.
What only one of them owns
Our book lists 286 positions for VTV that do not appear in our book for VNQ (95.0% of the fund), and 128 for VNQ that do not appear in VTV (61.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in VNQ | Weight in VTV | Difference |
|---|---|---|---|
| PLDPrologis Inc | 6.70% | 0.47% | 6.23% |
| AMTAmerican Tower Corp | 4.05% | 0.29% | 3.76% |
| SPGSimon Property Group Inc | 3.86% | 0.26% | 3.60% |
| DLRDigital Realty Trust Inc. | 3.28% | 0.24% | 3.04% |
| ORealty Income Corp. | 3.04% | 0.11% | 2.93% |
| PSAPublic Storage | 2.67% | 0.19% | 2.48% |
| VTRVentas, Inc. | 2.24% | 0.16% | 2.08% |
| CBRECbre Group Inc. Class A | 2.11% | 0.15% | 1.96% |
| UMG:ASUniversal Music Group N.V. Universal Music Group N V | 1.99% | 0.13% | 1.86% |
| CCICrown Castle International Corp | 1.75% | 0.12% | 1.63% |
37.4% of VNQ is already inside VTV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VNQ or VTV?
VNQ has an expense ratio of 0.13% while VTV charges 0.03%. VTV is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, VNQ or VTV?
Over the past year VNQ returned +5.61% vs +22.89% for VTV, so VTV leads on 1-year performance. Over the longest common window we track (22 years), VNQ annualized +3.94% vs +7.68% for VTV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VNQ or VTV?
VNQ has been the more volatile fund at 21.4% annualized versus 14.7% for VTV. Worst drawdown: VNQ -75.8% vs VTV -61.3%.
Should I hold both VNQ and VTV?
VNQ and VTV have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between VNQ and VTV?
37.4% of VNQ's money is in holdings VTV also owns. 2.5% of VTV's is in holdings VNQ also owns. They hold 14 positions in common, counted across the 144 positions we hold weights for in VNQ and 308 in VTV.
Which pays a higher dividend, VNQ or VTV?
VNQ yields 3.49% while VTV yields 1.82%, so VNQ currently pays the higher dividend yield.
Is VTV better than VNQ?
VTV has a lower expense ratio. VTV led over 1Y, 3Y, 5Y and the full window. VTV is less concentrated, with 23.6% of the fund in its ten largest positions against 54.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.