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VNQvsFPROETF Comparison

ETF 1
VNQ

Vanguard Real Estate ETF

This fund is part of
US Real Estate
-0.99%
Full VNQ fund page
VS
ETF 2
FPRO

Fidelity Real Estate Investment ETF

This fund is part of
Uncategorized Equities
-0.5%
Full FPRO fund page

Vanguard Real Estate ETF (VNQ) belongs to the US Real Estate segment. Fidelity Real Estate Investment ETF (FPRO) is part of the Uncategorized Equities segment. Both ETFs have the same top 3 sector exposures: Real Estate and Industrials. VNQ is less expensive with a Total Expense Ratio (TER) of 0.13%, versus 0.57% for FPRO. VNQ is up 4.75% year-to-date (YTD) with +$420M in YTD flows. FPRO performs better with 6.83% YTD performance, and -$1K in YTD flows. Run a side-by-side ETF comparison of VNQ and FPRO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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VNQ vs FPRO performance and flow charts

Performance

-1.00.01.02.03.0%Feb 11Feb 19Feb 26Mar 5

Cumulative Flows

050,000,000100,000,000150,000,000200,000,000Feb 11Feb 19Feb 26Mar 5

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Historic performance and flows
Data as of 03/11/2026
1M3MYTD1Y3Y5Y
Perf.
VNQ
FPRO
-0.76%-0.12%
+4.43%+6.54%
+4.75%+6.83%
+6.48%+6.92%
+27.64%+27.60%
+23.79%+28.78%
Flows
VNQ
FPRO
+$169M-
+$848M-$1K
+$420M-$1K
+$342M-$1M
-$671M-$3M
+$1.06B+$10M
Volatility and drawdown
3M1Y3Y5Y
Volatility
VNQ
FPRO
+11.84%+11.63%
+16.34%+16.28%
+17.07%+16.84%
+18.78%+18.79%
Max drawdown
VNQ
FPRO
-3.42%-3.06%
-12.42%-12.26%
-17.41%-16.55%
-34.43%-33.01%
Max drawdown duration
VNQ
FPRO
18d9d
79d82d
141d511d
1529d1529d
Trading data

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VNQ
FPRO
Last sale
3/12/2026 at 1:30 PM
$91.99
$23.77
Previous close
03/11/2026
$92.65
$23.96
Consolidated volume
03/11/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of February 27, 2026
1-year trailing difference

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FPRO
is actively managed and doesn’t replicate an index

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VNQ
FPRO
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
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Main metrics
Last update 3/12/2026 at 1:30 PM
Live
Closed
VNQ
FPRO
Last price
$91.99
$23.77
1D performance
-0.72%
-0.81%
AuM$35.90 B$14.27 M
E/R0.13%0.57%
Characteristics
VNQ
FPRO
Management strategyPassiveActive
ProviderVanguardFidelity
BenchmarkMSCI US Investable Market Real Estate 25/50 Transition Index-
N° of holdings12840
Asset classEquities-
Trailing 12m distribution yield
Join
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Inception dateSeptember 23, 2004February 2, 2021
ESGNoNo
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Exposure

Countries

VNQ
USA
98.96%
Other
1.04%
FPRO
USA
100%
Other
0%

Sectors

VNQ
Real Estate
94.71%
Other
5.29%
FPRO
Real Estate
98.85%
Other
1.15%

Diversification

VNQ

Total weight of top 15 holdings out of 15

57.03%
FPRO

Total weight of top 15 holdings out of 15

76.39%

Top 15 holdings

Data as of January 31, 2026
VNQ
WELLTOWER INC
8.26%
PROLOGIS REIT
8.02%
AMERICAN TOWER CL A REIT
5.53%
EQUINIX INC COMMON STOCK REIT
5.31%
SIMON PROPERTY GROUP REIT
4.13%
DIGITAL REALTY REIT
3.74%
REALTY INCOME REIT
3.67%
CBRE GROUP
3.35%
PUBLIC STORAGE REIT
2.88%
CROWN CASTLE INTERNATIONAL
2.50%
VENTAS REIT
2.33%
EXTRA SPACE STORAGE REIT
1.94%
VICI PROPERTIES INC
1.85%
IRON MOUNTAIN
1.80%
COSTAR GROUP
1.72%
FPRO
PROLOGIS REIT
9.72%
EQUINIX INC COMMON STOCK REIT
9.04%
WELLTOWER INC
8.64%
AMERICAN TOWER CL A REIT
7.99%
KIMCO REALTY REIT
5.15%
PUBLIC STORAGE REIT
4.89%
VENTAS REIT
4.37%
NATIONAL RETAIL PROPERTIES REIT
4.24%
UDR REIT
3.77%
DIGITAL REALTY REIT
3.70%
IRON MOUNTAIN
3.38%
STAG INDUSTRIAL REIT
3.22%
CBRE GROUP
3.18%
EQUITY RESIDENTIAL REIT
2.96%
SBA COMMUNICATIONS
2.14%
Frequently asked questions about VNQ and FPRO

How have the VNQ and FPRO ETFs performed in 2026?

As of March 11, 2026, VNQ is up 4.75% year-to-date (YTD), while FPRO has returned 6.83%. That puts FPRO better performer ahead so far this year.

Which ETF is attracting more investor money: VNQ or FPRO?

Year-to-date, the VNQ ETF saw +$420M in flows, compared to -$1K for FPRO.

Which ETF is more volatile: VNQ or FPRO?

Over the past year, VNQ had a volatility of 16.34%, while FPRO experienced 16.28%.

Which ETF is bigger: VNQ or FPRO?

As of March 11, 2026, VNQ holds $35.90 B in assets under management (AUM), while FPRO manages $14.27 M.

What sectors do the VNQ and FPRO ETFs invest in?

VNQ leans toward sectors like Real Estate. Meanwhile, FPRO focuses on Real Estate.

What are the top holdings of the VNQ ETF and FPRO ETF?

VNQ top holdings include WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT. FPRO holds in its top three: PROLOGIS REIT, EQUINIX INC COMMON STOCK REIT and WELLTOWER INC.

Which ETF is more diversified: VNQ or FPRO?

VNQ holds 147 securities with 57.03% of its assets in the top 15. FPRO has 40 securities and a top 15 weight of 76.39%.

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