VNQvsFRIETF Comparison
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Vanguard Real Estate ETF (VNQ) and First Trust S&P REIT Index Fund ETF (FRI) belong to the same industry segment: US Real Estate. VNQ's top 3 sector exposures are Finance, Technology and Consumer Services. In contrast, FRI's top sector exposures are Finance. VNQ is less expensive with a Total Expense Ratio (TER) of 0.13%, versus 0.49% for FRI. VNQ is up 7.78% year-to-date (YTD) with +$1.65B in YTD flows. FRI performs better with 12.4% YTD performance, and +$36M in YTD flows. Run a side-by-side ETF comparison of VNQ and FRI 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 FRI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VNQ FRI | +1.40%-0.25% | -5.24%-6.73% | +7.78%+12.40% | +4.44%+9.33% | +45.48%+52.22% | +2.97%+14.77% |
| Flows | VNQ FRI | +$211M+$12M | +$317M+$24M | +$1.65B+$36M | +$2.25B+$37M | +$1.34B+$56M | -$637M+$16M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VNQ FRI | +13.13%+12.15% | +13.97%+13.35% | +16.45%+16.42% | +18.87%+18.81% |
| Max drawdown | VNQ FRI | -11.33%-12.04% | -11.33%-12.04% | -17.41%-18.74% | -34.43%-31.41% |
| Max drawdown duration | VNQ FRI | 87d88d | 87d88d | 441d434d | 1621d1496d |
Trading data
VNQ | FRI | |
Last sale 10/23/2026 at 1:30 PM | $92.69 | $30.21 |
| Previous close 10/22/2026 | $92.65 | $30.26 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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VNQ | FRI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
VNQ | FRI | |
|---|---|---|
| Last price | $92.69 | $30.21 |
| 1D performance | +0.04% | -0.17% |
| AuM | $37.09 B | $199.55 M |
| E/R | 0.13% | 0.49% |
Characteristics
VNQ | FRI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | First Trust |
| Benchmark | MSCI US Investable Market Real Estate 25/50 Transition Index | S&P United States REIT Index |
| N° of holdings | 137 | 121 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 23, 2004 | May 8, 2007 |
| ESG | No | No |
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Exposure
Countries
VNQ
USA
98.92%
Other
1.08%
FRI
USA
95.57%
Other
4.43%
Sectors
VNQ
Finance
97.88%
Other
2.12%
FRI
Finance
95.57%
Other
4.43%
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Diversification
VNQ
Total weight of top 15 holdings out of 15
60.89%
FRI
Total weight of top 15 holdings out of 15
60.96%
Top 15 holdings
Data as of August 31, 2026
VNQ
Welltower, Inc.
10.22%
Prologis, Inc.
8.07%
Equinix, Inc.
6.38%
American Tower Corp.
5.06%
Simon Property Group, Inc.
4.26%
Digital Realty Trust, Inc.
4.25%
Realty Income Corp.
3.51%
Public Storage
3.13%
Equity Residential
2.88%
Ventas, Inc.
2.74%
CBRE Group, Inc.
2.64%
Iron Mountain, Inc.
2.12%
Crown Castle, Inc.
2.05%
Extra Space Storage, Inc.
1.84%
VICI Properties, Inc.
1.73%
FRI
Welltower, Inc.
12.59%
Prologis, Inc.
9.66%
Equinix, Inc.
4.51%
Digital Realty Trust, Inc.
4.44%
Simon Property Group, Inc.
4.39%
Realty Income Corp.
4.24%
Public Storage
3.77%
Equity Residential
3.53%
Ventas, Inc.
3.32%
Iron Mountain, Inc.
2.52%
Extra Space Storage, Inc.
2.20%
VICI Properties, Inc.
2.07%
Essex Property Trust, Inc.
1.33%
Kimco Realty Corp.
1.21%
Invitation Homes, Inc.
1.18%
Frequently asked questions about VNQ and FRI
How have the VNQ and FRI ETFs performed in 2026?
As of October 23, 2026, VNQ is up 7.78% year-to-date (YTD), while FRI has returned 12.4%. That puts FRI better performer ahead so far this year.
Which ETF is attracting more investor money: VNQ or FRI?
Year-to-date, the VNQ ETF saw +$1.65B in flows, compared to +$36M for FRI.
Which ETF is more volatile: VNQ or FRI?
Over the past year, VNQ had a volatility of 13.97%, while FRI experienced 13.35%.
Which ETF is bigger: VNQ or FRI?
As of October 23, 2026, VNQ holds $37.09 B in assets under management (AUM), while FRI manages $199.55 M.
What sectors do the VNQ and FRI ETFs invest in?
VNQ leans toward sectors like Finance. Meanwhile, FRI focuses on Finance.
What are the top holdings of the VNQ ETF and FRI ETF?
VNQ top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. FRI holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: VNQ or FRI?
VNQ holds 138 securities with 60.89% of its assets in the top 15. FRI has 121 securities and a top 15 weight of 60.96%.
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