VNQ vs ICF: Holdings Overlap
VNQVanguard Real Estate Index Fund
Vanguard · 146 holdings · $39.3B · as of 2026-04-30
ICFiShares Select U.S. REIT ETF
iShares · 30 holdings · $2.1B · as of 2026-04-30
How similar are VNQ and ICF?
Vanguard Real Estate Index Fund (VNQ, by Vanguard) holds 146 positions; iShares Select U.S. REIT ETF (ICF, by iShares) holds 30. They have 30 holdings in common, and by portfolio weight the two funds are 60.9% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 60.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 30VNQ holds 146 · ICF holds 30
- Weight in Shared Holdings
- VNQ 61%·ICF 100%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VNQ
116 of 146 positions (38.9% of the fund) are not held by ICF. Showing the top 30 by weight.
Only in ICF
Every position in ICF is also held by VNQ, so it brings nothing the other fund doesn’t already own.
Sector Breakdown
| Sector | VNQ | ICF |
|---|---|---|
| Real Estate | 99.3% | 99.9% |
| Communication Services | 0.4% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VNQ | +0.0% | +13.4% | +13.9% | +9.7% | +2.2% | +4.9% | 3.53% |
| ICF | -0.2% | +16.2% | +16.7% | +10.4% | +2.6% | +5.2% | 2.42% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VNQ vs ICF →
Shared Holdings(30)
The top 10 shared positions account for 69% of the overlap, led by WELL, PLD and EQIX.
 WELLWelltower Inc. COM | 7.84% | 8.19% | 7.84% |
|---|---|---|---|
 PLDPrologis Inc. COM | 7.00% | 7.66% | 7.00% |
 EQIXEquinix, Inc. COM | 5.64% | 9.33% | 5.64% |
 AMTAmerican Tower Corporation COM | 4.54% | 7.50% | 4.54% |
 DLRDigital Realty Trust Inc. COM | 3.66% | 4.87% | 3.66% |
 SPGSimon Property Group Inc COM | 3.53% | 5.83% | 3.53% |
 ORealty Income Corporation COM | 3.11% | 4.22% | 3.11% |
 PSAPublic Storage COM | 2.54% | 4.64% | 2.54% |
 VTRVentas Inc. COM | 2.19% | 4.08% | 2.19% |
 CCICrown Castle Inc. COM | 2.05% | 3.86% | 2.05% |
 IRMIron Mountain Inc. COM | 1.98% | 3.83% | 1.98% |
 EXRExtra Space Storage Inc. COM | 1.61% | 3.11% | 1.61% |
 VICIVICI Properties, Inc., Class A | 1.58% | 3.17% | 1.58% |
 AVBAvalonBay Communities, Inc. COM | 1.38% | 2.72% | 1.38% |
 EQREquity Residential SH BEN INT | 1.25% | 2.42% | 1.25% |
 SBACSBA Communications Corp., Class A | 1.25% | 2.59% | 1.25% |
 ESSEssex Property Trust, Inc. COM | 0.90% | 1.92% | 0.90% |
 INVHInvitation Homes Inc. COM | 0.89% | 1.89% | 0.89% |
 KIMKimco Realty Corporation COM | 0.85% | 1.87% | 0.85% |
 SUISun Communities, Inc. COM | 0.84% | 1.74% | 0.84% |
 MAAMid-America Apartment Communities, Inc. COM | 0.80% | 1.74% | 0.80% |
 HSTHost Hotels & Resorts Inc COM | 0.77% | 1.65% | 0.77% |
 REGRegency Centers Corp. COM | 0.72% | 1.57% | 0.72% |
 LAMRLamar Advertising Company Class A | 0.63% | 1.49% | 0.63% |
 ELSEquity Lifestyle Properties Inc COM | 0.62% | 1.49% | 0.62% |
Frequently Asked Questions
How much do VNQ and ICF overlap?
VNQ and ICF overlap by 60.9% of portfolio weight. They share 30 holdings (VNQ holds 146 positions and ICF holds 30), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VNQ and ICF?
The two portfolios are 60.9% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of VNQ and ICF?
The largest positions held by both funds are WELL, PLD, EQIX, AMT and DLR. Together the top 10 shared positions account for 69% of the total overlap.
What does VNQ own that ICF doesn't?
116 positions (38.9% of VNQ) are unique to VNQ, led by VRTPX, CBRE and WY. In the other direction, 0 positions (0.0% of ICF) are unique to ICF.