VNQ vs IYR: Holdings Overlap
VNQVanguard Real Estate Index Fund
Vanguard · 146 holdings · $39.3B · as of 2026-04-30
IYRiShares U.S. Real Estate ETF
iShares · 61 holdings · $4.5B · as of 2026-03-31
Holdings snapshots are 30 days apart (VNQ: 2026-04-30, IYR: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are VNQ and IYR?
Vanguard Real Estate Index Fund (VNQ, by Vanguard) holds 146 positions; iShares U.S. Real Estate ETF (IYR, by iShares) holds 61. They have 57 holdings in common, and by portfolio weight the two funds are 73.9% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 73.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 57VNQ holds 146 · IYR holds 61
- Weight in Shared Holdings
- VNQ 75%·IYR 97%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
89 of 146 positions (24.7% of the fund) are not held by IYR. Showing the top 30 by weight.
Sector Breakdown
| Sector | VNQ | IYR |
|---|---|---|
| Real Estate | 99.3% | 95.9% |
| Financials | 0.0% | 3.0% |
| Communication Services | 0.4% | 0.6% |
| 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% |
| IYR | +0.2% | +12.4% | +12.0% | +9.2% | +2.1% | +5.3% | 2.16% |
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 IYR →
Shared Holdings(57)
The top 10 shared positions account for 56% of the overlap, led by WELL, PLD and EQIX.
 WELLWelltower Inc. COM | 7.84% | 9.96% | 7.84% |
|---|---|---|---|
 PLDPrologis Inc. COM | 7.00% | 9.18% | 7.00% |
 EQIXEquinix, Inc. COM | 5.64% | 4.69% | 4.69% |
 AMTAmerican Tower Corporation COM | 4.54% | 4.39% | 4.39% |
 DLRDigital Realty Trust Inc. COM | 3.66% | 4.63% | 3.66% |
 SPGSimon Property Group Inc COM | 3.53% | 4.58% | 3.53% |
 ORealty Income Corporation COM | 3.11% | 4.40% | 3.11% |
 PSAPublic Storage COM | 2.54% | 3.41% | 2.54% |
 CBRECBRE Group, Inc., Class A | 2.25% | 3.13% | 2.25% |
 VTRVentas Inc. COM | 2.19% | 3.09% | 2.19% |
 CCICrown Castle Inc. COM | 2.05% | 2.82% | 2.05% |
 IRMIron Mountain Inc. COM | 1.98% | 2.40% | 1.98% |
 EXRExtra Space Storage Inc. COM | 1.61% | 2.21% | 1.61% |
 VICIVICI Properties, Inc., Class A | 1.58% | 2.32% | 1.58% |
 AVBAvalonBay Communities, Inc. COM | 1.38% | 1.84% | 1.38% |
 EQREquity Residential SH BEN INT | 1.25% | 1.62% | 1.25% |
 SBACSBA Communications Corp., Class A | 1.25% | 1.46% | 1.25% |
 WYWeyerhaeuser Company COM NEW | 0.94% | 1.40% | 0.94% |
 ESSEssex Property Trust, Inc. COM | 0.90% | 1.24% | 0.90% |
 INVHInvitation Homes Inc. COM | 0.89% | 1.12% | 0.89% |
 KIMKimco Realty Corporation COM | 0.85% | 1.21% | 0.85% |
 WPCW. P. Carey Inc COM | 0.85% | 1.19% | 0.85% |
 SUISun Communities, Inc. COM | 0.84% | 1.17% | 0.84% |
 MAAMid-America Apartment Communities, Inc. COM | 0.80% | 1.14% | 0.80% |
 JLLJones Lang LaSalle Incorporated COM | 0.80% | 1.14% | 0.80% |
Frequently Asked Questions
How much do VNQ and IYR overlap?
VNQ and IYR overlap by 73.9% of portfolio weight. They share 57 holdings (VNQ holds 146 positions and IYR holds 61), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VNQ and IYR?
The two portfolios are 73.9% 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 IYR?
The largest positions held by both funds are WELL, PLD, EQIX, AMT and DLR. Together the top 10 shared positions account for 56% of the total overlap.
What does VNQ own that IYR doesn't?
89 positions (24.7% of VNQ) are unique to VNQ, led by VRTPX, AHR and CTRE. In the other direction, 4 positions (3.0% of IYR) are unique to IYR.