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, Utilities VNQ is less expensive with a Total Expense Ratio (TER) of 0.13%, versus 0.49% for FRI. VNQ is up 16.19% year-to-date (YTD) with +$1.32B in YTD flows. FRI performs better with 20.46% YTD performance, and +$12M 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 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VNQ FRI | +3.96%+3.24% | +6.73%+7.56% | +16.19%+20.46% | +14.19%+20.90% | +30.67%+37.32% | +15.35%+27.71% |
| Flows | VNQ FRI | +$252M+$5M | +$1.13B+$16M | +$1.32B+$12M | +$1.83B+$7M | +$949M+$31M | -$202M+$18M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VNQ FRI | +16.06%+14.99% | +14.11%+13.59% | +16.82%+16.81% | +18.87%+18.89% |
| Max drawdown | VNQ FRI | -3.31%-3.78% | -8.32%-7.64% | -17.41%-18.74% | -34.43%-31.41% |
| Max drawdown duration | VNQ FRI | 16d13d | 44d44d | 141d434d | 1621d1496d |
Trading data
VNQ | FRI | |
Last sale 7/24/2026 at 1:30 PM | $100.81 | $33.34 |
| Previous close 07/23/2026 | $98.69 | $32.60 |
| Consolidated volume 07/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 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 7/24/2026 at 1:30 PM
Live
Closed
VNQ | FRI | |
|---|---|---|
| Last price | $100.81 | $33.34 |
| 1D performance | +2.15% | +2.27% |
| AuM | $39.97 B | $190.82 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 | 141 | 126 |
| 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
98.47%
Other
1.53%
FRI
USA
95.48%
Other
4.52%
Sectors
VNQ
Finance
97.54%
Other
2.46%
FRI
Finance
95.46%
Other
4.54%
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Diversification
VNQ
Total weight of top 15 holdings out of 15
58.09%
FRI
Total weight of top 15 holdings out of 15
58.76%
Top 15 holdings
Data as of June 30, 2026
VNQ
Welltower, Inc.
9.78%
Prologis, Inc.
7.79%
Equinix, Inc.
6.34%
American Tower Corp.
4.70%
Simon Property Group, Inc.
4.48%
Digital Realty Trust, Inc.
3.81%
Realty Income Corp.
3.54%
Public Storage
3.05%
Ventas, Inc.
2.61%
CBRE Group, Inc.
2.45%
Iron Mountain, Inc.
2.32%
Crown Castle, Inc.
2.04%
Extra Space Storage, Inc.
1.89%
VICI Properties, Inc.
1.65%
AvalonBay Communities, Inc.
1.62%
FRI
Welltower, Inc.
11.87%
Prologis, Inc.
9.32%
Simon Property Group, Inc.
4.57%
Digital Realty Trust, Inc.
4.30%
Equinix, Inc.
4.29%
Realty Income Corp.
4.21%
Public Storage
3.73%
Ventas, Inc.
3.18%
Iron Mountain, Inc.
2.65%
Extra Space Storage, Inc.
2.27%
VICI Properties, Inc.
2.10%
AvalonBay Communities, Inc.
1.93%
Equity Residential
1.71%
Essex Property Trust, Inc.
1.39%
Kimco Realty Corp.
1.24%
Frequently asked questions about VNQ and FRI
How have the VNQ and FRI ETFs performed in 2026?
As of July 24, 2026, VNQ is up 16.19% year-to-date (YTD), while FRI has returned 20.46%. 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 +$1.32B in flows, compared to +$12M for FRI.
Which ETF is more volatile: VNQ or FRI?
Over the past year, VNQ had a volatility of 14.11%, while FRI experienced 13.59%.
Which ETF is bigger: VNQ or FRI?
As of July 24, 2026, VNQ holds $39.97 B in assets under management (AUM), while FRI manages $190.82 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 Simon Property Group, Inc..
Which ETF is more diversified: VNQ or FRI?
VNQ holds 142 securities with 58.09% of its assets in the top 15. FRI has 126 securities and a top 15 weight of 58.76%.
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Latest news about VNQ & FRI
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Real Estate ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
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Real Estate ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
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Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
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Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
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