Data as of Oct 28, 2026.
VBK vs VNQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, VBK returned +10.3% to VNQ's +4.8%; 4% of their weight is in the same names.
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Net assets on Sep 30, 2026: $22.8bn for Vanguard Morningstar Small-Cap Growth ETF and $35.9bn for Vanguard Real Estate ETF.
Pair scorecard
VBK costs 0.08 points a year less; their one-year returns differ by 5.5 points; VNQ is 1.6 times larger.
| Measure | VBK | VNQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.3% | +4.8% |
| Drawdown | ||
| Below its high | 8.0%, high on Aug 17, 2026 | 8.3%, high on Jul 28, 2026 |
| Benchmark | ||
| What it tracks | Morningstar US Small Cap Growth Index | MSCI US Investable Market Real Estate 25/50 Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.13% |
| Net assets, as of Sep 30, 2026 | $22.8bn | $35.9bn |
| Holdings | ||
| Holdings in common | 4% | |
| Top ten holdings, share of the fund | 12.2% | 55.8% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Oct 8, 2004 to Oct 23, 2026 · 1,150 weekly returnsVBK returned more: +690.7% to +364.5%. VBK swung less: 22.3% to 25.0%. VBK fell less at its worst: −57.8% to −72.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VBK | VNQ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +690.7% | +364.5% | VBK | Price change plus distributions, reinvested. |
| Annualized | +9.8% | +7.2% | VBK | Total return as a yearly rate. |
| Price return | +583.1% | +80.5% | VBK | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.3% | 25.0% | VBK | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.7% | 17.3% | VBK (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −57.8% | −72.5% | VBK | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.45 | 0.33 | VBK | Return above Treasury bills per unit of volatility. |
| Sortino | 0.64 | 0.48 | VBK | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.17 | 0.10 | VBK | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,150 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VBK and VNQ hold 4% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
4% in common
Only in one fund ↓
Side by side
VBK and VNQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VBK and VNQ do different jobs. What does each one do in a portfolio?
- What each follows. VBK follows Morningstar US Small Cap Growth Index and VNQ follows MSCI US Investable Market Real Estate 25/50 Index.
- Holdings in common. 4% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VBK returned +10.3% and VNQ +4.8% with distributions reinvested, a gap of 5.5 points.
Data as of Oct 28, 2026.
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VBK
VBK tracks an index of Small-Cap Growth. Over the year to Oct 28, 2026 it returned +10.3% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 10% of the fund by weight is stocks the S&P 500 also holds, across 554 positions, with the top ten at 12.2%. It sat 8.0% below its high of Aug 17, 2026 on Oct 28, 2026.
VNQ
VNQ tracks an index of US real estate. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.13% a year. By its holdings published by its issuer as of Sep 30, 2026, 63% of the fund by weight is stocks the S&P 500 also holds, across 141 positions, with the top ten at 55.8%. It sat 8.3% below its high of Jul 28, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VBK or VNQ?
- In the year to Oct 28, 2026, with distributions reinvested, VBK returned +10.3% and VNQ +4.8%.
- Which is cheaper, VBK or VNQ?
- VBK is cheaper, by 0.08 percentage points a year. That is about $8 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, VBK against VNQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/vbk-vs-vnq
ETFIQ. (Oct 28, 2026). VBK against VNQ. Retrieved from https://etfiq.com/compare/any/vbk-vs-vnq
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