VNQ vs RWR: Holdings Overlap
VNQVanguard Real Estate Index Fund
Vanguard · 146 holdings · $39.3B · as of 2026-04-30
RWRState Street® SPDR® Dow Jones® REIT ETF
State Street (SPDR) · 97 holdings · $1.9B · as of 2026-08-06
Holdings snapshots are 98 days apart (VNQ: 2026-04-30, RWR: 2026-08-06). 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 RWR?
Vanguard Real Estate Index Fund (VNQ, by Vanguard) holds 146 positions; State Street® SPDR® Dow Jones® REIT ETF (RWR, by State Street (SPDR)) holds 97. They have 94 holdings in common, and by portfolio weight the two funds are 62.3% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 62.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 94VNQ holds 146 · RWR holds 97
- Weight in Shared Holdings
- VNQ 64%·RWR 99%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
52 of 146 positions (36.2% of the fund) are not held by RWR. Showing the top 30 by weight.
Sector Breakdown
| Sector | VNQ | RWR |
|---|---|---|
| Real Estate | 99.3% | 99.0% |
| 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% |
| RWR | -0.8% | +18.6% | +23.5% | +11.8% | +4.3% | +4.9% | 3.29% |
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 RWR →
Shared Holdings(94)
The top 10 shared positions account for 60% of the overlap, led by WELL, PLD and EQIX.
 WELLWelltower Inc. COM | 7.84% | 10.87% | 7.84% |
|---|---|---|---|
 PLDPrologis Inc. COM | 7.00% | 9.45% | 7.00% |
 EQIXEquinix, Inc. COM | 5.64% | 4.44% | 4.44% |
 DLRDigital Realty Trust Inc. COM | 3.66% | 4.91% | 3.66% |
 SPGSimon Property Group Inc COM | 3.53% | 4.57% | 3.53% |
 ORealty Income Corporation COM | 3.11% | 4.40% | 3.11% |
 PSAPublic Storage COM | 2.54% | 4.70% | 2.54% |
 VTRVentas Inc. COM | 2.19% | 4.17% | 2.19% |
 EXRExtra Space Storage Inc. COM | 1.61% | 2.93% | 1.61% |
 AVBAvalonBay Communities, Inc. COM | 1.38% | 2.41% | 1.38% |
 EQREquity Residential SH BEN INT | 1.25% | 2.11% | 1.25% |
 ESSEssex Property Trust, Inc. COM | 0.90% | 1.70% | 0.90% |
 INVHInvitation Homes Inc. COM | 0.89% | 1.54% | 0.89% |
 KIMKimco Realty Corporation COM | 0.85% | 1.53% | 0.85% |
 WPCW. P. Carey Inc COM | 0.85% | 1.49% | 0.85% |
 SUISun Communities, Inc. COM | 0.84% | 1.29% | 0.84% |
 MAAMid-America Apartment Communities, Inc. COM | 0.80% | 1.44% | 0.80% |
 HSTHost Hotels & Resorts Inc COM | 0.77% | 1.38% | 0.77% |
 OHIOmega Healthcare Investors, Inc. COM | 0.74% | 1.35% | 0.74% |
 REGRegency Centers Corp. COM | 0.72% | 1.18% | 0.72% |
 ELSEquity Lifestyle Properties Inc COM | 0.62% | 1.16% | 0.62% |
 UDRUDR Inc COM | 0.61% | 1.05% | 0.61% |
 DOCHealthpeak Properties Inc COM | 0.60% | 1.35% | 0.60% |
 CPTCamden Property Trust SH BEN INT | 0.59% | 1.03% | 0.59% |
 EGPEastgroup Properties, Inc. COM | 0.57% | 1.00% | 0.57% |
Frequently Asked Questions
How much do VNQ and RWR overlap?
VNQ and RWR overlap by 62.3% of portfolio weight. They share 94 holdings (VNQ holds 146 positions and RWR holds 97), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VNQ and RWR?
The two portfolios are 62.3% 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 RWR?
The largest positions held by both funds are WELL, PLD, EQIX, DLR and SPG. Together the top 10 shared positions account for 60% of the total overlap.
What does VNQ own that RWR doesn't?
52 positions (36.2% of VNQ) are unique to VNQ, led by VRTPX, AMT and CBRE. In the other direction, 3 positions (0.1% of RWR) are unique to RWR.