VNQ vs XLRE: Dividend Yield, Total Return & Fees Compared

Vanguard Real Estate Index Fund ETF SharesState Street Real Estate Select Sector SPDR ETF

Data as of the close · refreshed automatically every trading day

Performance: VNQ vs XLRE

Total return assumes every distribution is reinvested. Switch to price return to see the change in share price alone.

VNQXLRE

Total Return (%) · dividends reinvested · Nov 7, 2025 – Nov 9, 2026

DividendDuel.com
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Higher yieldVNQ3.50% vs 3.23%
Better 1-year total returnXLRE+11.95% vs +11.93%
Better 5-year total returnXLRE+9.29% vs +7.35%
Expense ratio—VNQ n/a · XLRE n/a

VNQ vs XLRE at a glance

This page compares Vanguard Real Estate Index Fund ETF Shares (VNQ) with State Street Real Estate Select Sector SPDR ETF (XLRE) using prices and distributions through November 9, 2026. The numbers update automatically after each trading session.

With dividends reinvested, XLRE has led over the last 12 months at +11.95% versus +11.93% for VNQ. VNQ currently yields 3.50% (trailing 12-month) against 3.23% for XLRE. Across five years the total-return gap is +9.29% for XLRE vs +7.35% for VNQ.

The higher-yielding fund (VNQ) has trailed on 1-year total return. Yield only measures the income a fund pays; total return also counts the change in share price, so it is the fuller basis for comparing the two.

Key figures for VNQ and XLRE
MetricVNQXLRE
Last close$97.30$44.64
Dividend yield3.50% (TTM)3.23% (TTM)
Expense ratio——
Paysquarterlyquarterly
Dividends, last 12 months$3.41 (4 payments)$1.44 (4 payments)
IssuerVanguardState Street
Inception——

Overview

Key fund stats as of the latest close.

ETFTTM yield1Y total returnLast closeLast dividendPaysIssuer
VNQVanguard Real Estate Index Fund ETF Shares
3.50%
+11.93%$97.30$0.8046QuarterlyVanguard
XLREState Street Real Estate Select Sector SPDR ETF
3.23%
Best+11.95%$44.64$0.3547QuarterlyState Street

Total returns

Price change plus dividends paid, by holding period. Best in each period is outlined.

ETF1M3M6M1Y2Y5Y
VNQVanguard Real Estate Index Fund ETF Shares+7.34%-0.28%+2.49%+11.93%+9.56%+7.35%
XLREState Street Real Estate Select Sector SPDR ETF+7.28%+0.07%+2.23%+11.95%+8.79%+9.29%

Dividends

Latest payout, trailing 12-month total and the last 12 distributions.

ETFLatest payoutvs. priorTrailing 12MRecent payouts
VNQVanguard Real Estate Index Fund ETF Shares$0.8046Sep 23, 2026-5.94%$3.40624 payoutsDec 21, 2023: $1.0683Mar 22, 2024: $0.7324Jun 28, 2024: $1.0328Sep 27, 2024: $0.8128Dec 23, 2024: $0.8555Mar 25, 2025: $0.9319Jun 26, 2025: $0.8678Sep 24, 2025: $0.8716Dec 22, 2025: $0.8005Mar 24, 2026: $0.9457Jun 24, 2026: $0.8554Sep 23, 2026: $0.8046
XLREState Street Real Estate Select Sector SPDR ETF$0.3547Sep 21, 2026-6.93%$1.44314 payoutsDec 18, 2023: $0.4208Mar 18, 2024: $0.2636Jun 24, 2024: $0.3871Sep 23, 2024: $0.3115Dec 23, 2024: $0.4336Mar 24, 2025: $0.2636Jun 23, 2025: $0.3754Sep 22, 2025: $0.3167Dec 22, 2025: $0.4361Mar 23, 2026: $0.2711Jun 22, 2026: $0.3811Sep 21, 2026: $0.3547

Downside and distribution variability

Income and ending returns do not describe the whole investment experience.

Across 1,265 shared trading dates from October 26, 2021 to November 9, 2026, the largest observed peak-to-trough decline with dividends reinvested was -34.50% for VNQ and -34.11% for XLRE. These figures use the same available dates for both instruments, exclude intraday moves, and are not forecasts.

VNQ's recorded distributions over the 12 months ending November 9, 2026 ranged from $0.8005 to $0.9457 per share across 4 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.

XLRE's recorded distributions over the 12 months ending November 9, 2026 ranged from $0.2711 to $0.4361 per share across 4 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.

Fund expense ratios are annual operating costs, not a bill added to the historical returns shown here. Trading spreads, brokerage costs and personal taxes can reduce an investor's realized return.

Recent distributions

The latest 12 distributions per share, newest first. Dates are reported ex-dividend dates, not cash payment dates.

VNQXLRE
Sep 23, 2026$0.8046Sep 21, 2026$0.3547
Jun 24, 2026$0.8554Jun 22, 2026$0.3811
Mar 24, 2026$0.9457Mar 23, 2026$0.2711
Dec 22, 2025$0.8005Dec 22, 2025$0.4361
Sep 24, 2025$0.8716Sep 22, 2025$0.3167
Jun 26, 2025$0.8678Jun 23, 2025$0.3754
Mar 25, 2025$0.9319Mar 24, 2025$0.2636
Dec 23, 2024$0.8555Dec 23, 2024$0.4336
Sep 27, 2024$0.8128Sep 23, 2024$0.3115
Jun 28, 2024$1.03Jun 24, 2024$0.3871
Mar 22, 2024$0.7324Mar 18, 2024$0.2636
Dec 21, 2023$1.07Dec 18, 2023$0.4208

VNQ vs XLRE: common questions

Which pays a higher dividend, VNQ or XLRE?

As of November 9, 2026, VNQ yields 3.50% (trailing 12-month) and XLRE yields 3.23% (trailing 12-month), so VNQ currently pays the higher yield. A higher yield does not guarantee a higher total return.

Which has performed better, VNQ or XLRE?

Over the past year with dividends reinvested, VNQ returned +11.93% and XLRE returned +11.95%. Over five years, VNQ returned +7.35% and XLRE returned +9.29%. Past performance does not predict future results.

What would $10,000 in VNQ vs XLRE be worth after one year?

With dividends reinvested, $10,000 invested one year before November 9, 2026 would have grown to about $11,193 in VNQ and $11,195 in XLRE.

How often do VNQ and XLRE pay dividends?

VNQ pays quarterly (4 payments in the last 12 months) and XLRE pays quarterly (4 payments).

Is VNQ or XLRE the better investment?

It depends on your goals, time horizon and tax situation. Income-focused investors often weigh yield and payment frequency, while long-term investors usually compare total return and fees. Dividend Duel is an educational tool and does not provide investment advice.

Research VNQ and XLRE beyond the yield

Check whether you are comparing a property company with a diversified fund or two different real-estate portfolios. Examine concentration, expenses and distributions alongside total return.

Review Vanguard Real Estate Index Fund ETF Shares (VNQ) payment history and State Street Real Estate Select Sector SPDR ETF (XLRE) payment history before choosing assumptions for the dividend reinvestment calculator. Run each scenario separately; the calculator uses your rates rather than importing these historical returns.

For a cash target, use the income goal calculator. Read our guide to comparing dividend ETFs and data and editorial approach for context on the historical figures.

Related comparisons

More side-by-side comparisons with VNQ and XLRE.

Published by Delta Dividends LLC. This page is for education only and is not investment advice. Past performance does not guarantee future results. Read the full disclosure.