ETFs / VNQ
What If You Had Invested in VNQ 10 Years Ago?
Vanguard Real Estate ETF (VNQ) with real monthly prices, dividends reinvested, through November 2026.
VNQ $96.23 ▼ -1.84% last close, Nov 05, 2026
If you had invested $1,000 in VNQ in November 2016, today it would be worth
$1,783
Same $1,000 in the S&P 500 (SPY): $3,895
If you had put $500 a month into VNQ since November 2016, your $60,500 would be worth today
$81,250
Same plan in the S&P 500 (SPY): $128,888
More options in the What If calculator.
VNQ live price chart
VNQ returns by period
| Period | Total return | Per year | $1,000 became | SPY per year |
|---|---|---|---|---|
| Sep 23, 2026 | $0.8050 | -5.8% | ||
| Jun 24, 2026 | $0.8550 | -9.6% | ||
| Mar 24, 2026 | $0.9460 | +18.1% | ||
| Dec 22, 2025 | $0.8010 | -8.1% | ||
| Sep 24, 2025 | $0.8720 | +0.5% | ||
| Jun 26, 2025 | $0.8680 | -6.9% | ||
| Mar 25, 2025 | $0.9320 | +8.9% | ||
| Dec 23, 2024 | $0.8560 | +5.3% | ||
| Sep 27, 2024 | $0.8130 | -21.3% | ||
| Jun 28, 2024 | $1.0330 | +41.1% | ||
| Mar 22, 2024 | $0.7320 | -31.5% | ||
| Dec 21, 2023 | $1.0680 | — |
VNQ year by year
Best full year: 2021 (+40.5%). Worst: 2008 (-37.0%).
| Year | VNQ | SPY | What happened |
|---|---|---|---|
| 2026 (so far) | +11.8% | +8.3% | |
| 2025 | +3.2% | +17.7% | |
| 2024 | +4.8% | +24.9% | |
| 2023 | +11.9% | +26.2% | |
| 2022 | -26.3% | -18.2% | Rising rates hit real estate hard by raising borrowing costs and making bond yields a competitor to REIT dividends. |
| 2021 | +40.5% | +28.7% | |
| 2020 | -4.6% | +18.3% | |
| 2019 | +28.9% | +31.2% | |
| 2018 | -6.0% | -4.6% | |
| 2017 | +4.9% | +21.7% | |
| 2016 | +8.6% | +12.0% | |
| 2015 | +2.4% | +1.2% | |
| 2014 | +30.4% | +13.5% | |
| 2013 | +2.3% | +32.3% | |
| 2012 | +17.6% | +16.0% | |
| 2011 | +8.6% | +1.9% | |
| 2010 | +28.4% | +15.1% | |
| 2009 | +30.1% | +26.4% | |
| 2008 | -37.0% | -36.8% | The global financial crisis. Bank failures and a deep recession made this one of the worst years for stocks since the 1930s. Real estate was at the center of it. |
| 2007 | -16.5% | +5.1% |
VNQ: all at once or every month?
Take $12,000: all of it on day one, or $1,000 a month for a year. Across every starting month since 2004 (255 of them), the lump sum was ahead after 12 months in 177 (69%). The lump sum usually won, but roughly one start in 3 favored spreading it out. The best case for monthly investing was a start in September 2008, when it finished the year 78% ahead.
Worst drop
VNQ's worst fall in this history was -68.3%, a loss of more than half, from January 2007 to February 2009. Getting back to the old high took until June 2012: 40 months from the bottom and 5.4 years from the peak. $1,000 invested at that peak shrank to about $317 at the low.
VNQ dividends
VNQ paid $3.41 per share over the last 12 months, quarterly. At $96.23 that is 3.54%, a moderate yield. From 2020 to 2025 the yearly payout grew +0.8% a year, slowly, about in line with inflation. The yearly total fell in 2017, 2019, 2021. Fund payouts move around with what the holdings pay, so a lower year is not a cut in the usual sense.
| Year | Dividends / share | Change | Yield |
|---|---|---|---|
| 2025 | $3.47 | +1.1% | 3.92% |
| 2024 | $3.43 | -1.7% | 3.85% |
| 2023 | $3.49 | +8.2% | 3.95% |
| 2022 | $3.23 | +8.8% | 3.91% |
| 2021 | $2.96 | -11.1% | 2.56% |
| 2020 | $3.33 | +6.1% | 3.93% |
| 2019 | $3.14 | -11.0% | 3.39% |
| 2018 | $3.53 | +0.5% | 4.74% |
| 2017 | $3.51 | -11.6% | 4.23% |
| 2016 | $3.98 | +27.3% | 4.82% |
Yield = each year’s dividends divided by the price at the end of the year.
VNQ dividend history: last 12 payments
| Ex-dividend date | Amount | Change |
|---|---|---|
| Sep 23, 2026 | $0.8050 | -5.8% |
| Jun 24, 2026 | $0.8550 | -9.6% |
| Mar 24, 2026 | $0.9460 | +18.1% |
| Dec 22, 2025 | $0.8010 | -8.1% |
| Sep 24, 2025 | $0.8720 | +0.5% |
| Jun 26, 2025 | $0.8680 | -6.9% |
| Mar 25, 2025 | $0.9320 | +8.9% |
| Dec 23, 2024 | $0.8560 | +5.3% |
| Sep 27, 2024 | $0.8130 | -21.3% |
| Jun 28, 2024 | $1.0330 | +41.1% |
| Mar 22, 2024 | $0.7320 | -31.5% |
| Dec 21, 2023 | $1.0680 | — |
About VNQ
| Issuer | Vanguard |
| Launched | September 2004 |
| Tracks | MSCI US IMI Real Estate 25/50 |
| Expense ratio | 0.13% |
| Holdings | About 150 real estate investment trusts |
Fund details as of 2025. Check the issuer for the current expense ratio and holdings.
VNQ holds U.S. real estate investment trusts (REITs): owners of offices, apartments, warehouses, cell towers, data centers and shopping centers. REITs must pay out most of their income, which is why VNQ's yield is higher than a typical stock fund's.
REIT dividends are mostly taxed as ordinary income, so the fund is often held in tax-advantaged accounts. Real estate is sensitive to interest rates, which raise borrowing costs and compete with its yield.
Questions about VNQ
How much would $10,000 invested in VNQ 20 years ago be worth today?
About $27,822 with dividends reinvested, invested at the November 2006 close: 178.2% in total, or 5.2% a year.
When does VNQ pay dividends?
In the last 12 months the payments went out in March, June, September and December, $3.41 per share in total.
Did VNQ beat the S&P 500?
No. Over the last 20 years it trailed by 5.4 percentage points a year: +5.2% a year for VNQ against +10.6% for SPY, dividends reinvested. It also fell harder at its worst (-68.3% against -50.8% for SPY over the same history).