Vanguard Real Estate (VNQ) to EUR: Historical Returns

Simulation Settings

Category: Stocks

Period: August 1953 - June 2025 (~72 years)
Consolidated Returns as of 30 June 2025

Initial Amount: 1€

Currency: EUR

VNQ is not denominated in EUR. Returns are simulated using exchange rates or interest rate differentials in case of currency hedging.

Inflation: Eurozone

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Results

30 Years
(1995/07 - 2025/06)

All Data
(1953/08 - 2025/06)

Inflation Adjusted:

Vanguard Real Estate (VNQ)

1.00€
Invested Capital
July 1995
15.38€
Final Capital
June 2025
9.54%
Yearly Return
19.32%
Std Deviation
-67.70%
Max Drawdown
64months
Recovery Period

1.00€
Invested Capital
July 1995
8.41€
Final Capital
June 2025
7.36%
Yearly Return
19.32%
Std Deviation
-69.29%
Max Drawdown
75months
Recovery Period

1.00€
Invested Capital
August 1953
288.72€
Final Capital
June 2025
8.20%
Yearly Return
17.30%
Std Deviation
-67.70%
Max Drawdown
64months
Recovery Period

1.00€
Invested Capital
August 1953
43.51€
Final Capital
June 2025
5.39%
Yearly Return
17.30%
Std Deviation
-69.29%
Max Drawdown
75months
Recovery Period

This portfolio includes ETFs not denominated in EUR. Returns are calculated using exchange rates or, if applicable, interest rate differentials for currency hedging.

The Vanguard Real Estate (VNQ) to EUR ETF covers to the following investment themes:

Asset Class: Real Estate
Size: Multi Cap
Style: Blend
Region: North America
Country: U.S.
Sector: Real Estate
Industry: Broad Real Estate

As of June 2025, in the previous 30 Years, the Vanguard Real Estate (VNQ) to EUR ETF obtained a 9.54% compound annual return, with a 19.32% standard deviation. It suffered a maximum drawdown of -67.70% that required 64 months to be recovered.

Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the ETFs/Assets issuers. Content is for informational, educational, illustrative and entertainment purposes only.

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Investment Returns as of Jun 30, 2025

Returns are calculated in EUR, assuming:

no fees or capital gain taxes.
dividend reinvestment, when applicable.
for non-EUR assets, the adjustment for actual currency exchange rates.
the actual Eurozone Inflation rates.

VANGUARD REAL ESTATE (VNQ) TO EUR ETF

Capital Growth

30 Years
(1995/07 - 2025/06)

All Data
(1953/08 - 2025/06)

Inflation Adjusted:

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Vanguard Real Estate (VNQ)	1 €	15.38 €	1 438.40%	9.54%
		Jul 1995	Jun 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Vanguard Real Estate (VNQ)	1 €	8.41 €	740.92%	7.36%
		Jul 1995	Jun 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Vanguard Real Estate (VNQ)	1 €	288.72 €	28 772.30%	8.20%
		Aug 1953	Jun 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Vanguard Real Estate (VNQ)	1 €	43.51 €	4 251.47%	5.39%
		Aug 1953	Jun 2025

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	Chg (%)		Return (%)	Return (%) as of Jun 30, 2025
	1 Day	Time ET^(*)	---	YTD (6M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~72Y)
Investment Return	---		---	-10.05	-2.31	-10.05	0.26	5.55	5.37	9.54	8.20
Eurozone Inflation Adjusted Return				-11.19	-2.31	-11.19	-1.40	1.47	2.80	7.36	5.39
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
The live monthly return is calculated by assuming, for each asset, the weight defined by the base asset allocation.
Eurozone Inflation is updated to May 2025. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Inflation (annualized) is 1Y: 1.68% , 5Y: 4.02% , 10Y: 2.50% , 30Y: 2.03%

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Investment Metrics as of Jun 30, 2025

Metrics are calculated based on monthly returns, assuming:

no fees or capital gain taxes.
dividend reinvestment, when applicable.
for non-EUR assets, the adjustment for actual currency exchange rates.
the actual Eurozone Inflation rates.

VANGUARD REAL ESTATE (VNQ) TO EUR ETF

Advanced Metrics

1 August 1953 - 30 June 2025 (~72 years)

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	Metrics as of Jun 30, 2025
	YTD (6M)	1M	3M	6M	1Y	3Y	5Y	10Y	20Y	30Y	MAX (~72Y)
Investment Return (%)	-10.05	-2.31	-8.88	-10.05	0.26	-0.36	5.55	5.37	6.71	9.54	8.20
Growth of 1€	0.90	0.98	0.91	0.90	1.00	0.99	1.31	1.69	3.67	15.38	288.72
Infl. Adjusted Return (%)	-11.19	-2.31	-9.36	-11.19	-1.40	-3.48	1.47	2.80	4.52	7.36	5.39
Eurozone Inflation (%)	1.29	0.00	0.52	1.29	1.68	3.23	4.02	2.50	2.10	2.03	2.67
Pending updates, the monthly inflation of Jun 2025 and beyond is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN Inflation Adjusted: Inflation Adjusted:				Current	1Y	3Y	5Y	10Y	20Y	30Y	MAX
Deepest Drawdown Depth (%)				-16.34	-16.34	-24.74	-27.73	-27.73	-67.70	-67.70	-67.70
Start to Recovery (# months)				7*	7*	28	35	35	64	64	64
Start (yyyy mm)					2024 12	2022 08	2022 01	2022 01	2007 02	2007 02	2007 02
Start to Bottom (# months)					7	15	22	22	26	26	26
Bottom (yyyy mm)					2025 06	2023 10	2023 10	2023 10	2009 03	2009 03	2009 03
Bottom to End (# months)					0	13	13	13	38	38	38
End (yyyy mm)					-	2024 11	2024 11	2024 11	2012 05	2012 05	2012 05
Longest Drawdown Depth (%)					same	same	same	same	same	same	-46.50
Start to Recovery (# months)					same	same	same	same	same	same	68
Start (yyyy mm)					2024 12	2022 08	2022 01	2022 01	2007 02	2007 02	1971 05
Start to Bottom (# months)					7	15	22	22	26	26	44
Bottom (yyyy mm)					2025 06	2023 10	2023 10	2023 10	2009 03	2009 03	1974 12
Bottom to End (# months)					0	13	13	13	38	38	24
End (yyyy mm)					-	2024 11	2024 11	2024 11	2012 05	2012 05	1976 12
Longest negative period (# months)					11*	36*	47*	52	74	138	257
Start (yyyy mm)					2024 08	2022 07	2021 08	2016 07	2005 08	1997 10	1953 08
End (yyyy mm)					2025 06	2025 06	2025 06	2020 10	2011 09	2009 03	1974 12
Annualized Return (%)					-6.98	-0.36	-0.34	-0.44	-0.03	-0.31	0.00
Drawdowns / Negative periods marked with * are in progress
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
Deepest Drawdown Depth (%)				-26.90	-17.70	-29.21	-35.96	-35.96	-69.29	-69.29	-69.29
Start to Recovery (# months)				42*	7*	35*	42*	42*	75	75	75
Start (yyyy mm)					2024 12	2022 08	2022 01	2022 01	2007 02	2007 02	2007 02
Start to Bottom (# months)					7	15	22	22	26	26	26
Bottom (yyyy mm)					2025 06	2023 10	2023 10	2023 10	2009 03	2009 03	2009 03
Bottom to End (# months)					0	20	20	20	49	49	49
End (yyyy mm)					-	-	-	-	2013 04	2013 04	2013 04
Longest Drawdown Depth (%)					same	same	same	same	same	same	-25.65
Start to Recovery (# months)					same	same	same	same	same	same	138
Start (yyyy mm)					2024 12	2022 08	2022 01	2022 01	2007 02	2007 02	1959 08
Start to Bottom (# months)					7	15	22	22	26	26	35
Bottom (yyyy mm)					2025 06	2023 10	2023 10	2023 10	2009 03	2009 03	1962 06
Bottom to End (# months)					0	20	20	20	49	49	103
End (yyyy mm)					-	-	-	-	2013 04	2013 04	1971 01
Longest negative period (# months)					12*	36*	51*	93	103	146	305
Start (yyyy mm)					2024 07	2022 07	2021 04	2016 08	2015 04	1997 02	1953 08
End (yyyy mm)					2025 06	2025 06	2025 06	2024 04	2023 10	2009 03	1978 12
Annualized Return (%)					-1.40	-3.48	-1.44	-0.30	-0.10	-0.43	-0.05
Drawdowns / Negative periods marked with * are in progress
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
RISK INDICATORS					1Y	3Y	5Y	10Y	20Y	30Y	MAX
Standard Deviation (%)					16.84	18.44	17.79	17.61	21.13	19.32	17.30
Sharpe Ratio					-0.26	-0.26	0.16	0.20	0.24	0.38	0.23
Sortino Ratio					-0.35	-0.38	0.23	0.28	0.33	0.51	0.33
Ulcer Index					8.06	13.37	12.71	11.72	19.88	17.23	15.12
Ratio: Return / Standard Deviation					0.02	-0.02	0.31	0.30	0.32	0.49	0.47
Ratio: Return / Deepest Drawdown					0.02	-0.01	0.20	0.19	0.10	0.14	0.12
Positive Months (%)					58.33	52.77	53.33	54.16	57.08	59.72	58.51
Positive Months					7	19	32	65	137	215	505
Negative Months					5	17	28	55	103	145	358
LONG TERM RETURNS Inflation Adjusted: Inflation Adjusted:					1Y	3Y	5Y	10Y	20Y	30Y	MAX
Best 10 Years Return (%) - Annualized								5.37	20.34	20.34	30.47
Worst 10 Years Return (%) - Annualized								5.37	4.79	1.44	-2.61
Best 10 Years Return (%) - Annualized								2.80	18.78	18.78	25.30
Worst 10 Years Return (%) - Annualized								2.80	2.24	-0.67	-6.43
TIMEFRAMES Inflation Adjusted: Inflation Adjusted:		1M	3M	6M	1Y	3Y	5Y	10Y	20Y	30Y	MAX
··· As of Jun 2025 - Over the previous 30Y
Best Rolling Return (%) - Annualized					106.47	43.16	27.77	20.34	12.09	9.54
Worst Rolling Return (%) - Annualized					-50.21	-27.23	-10.06	1.44	6.71	9.54
Positive Periods (%)					71.3	88.3	91.6	100.0	100.0	100.0
Best Rolling Return (%) - Annualized					103.25	39.93	25.48	18.78	10.25	7.36
Worst Rolling Return (%) - Annualized					-50.49	-28.68	-11.90	-0.67	4.52	7.36
Positive Periods (%)					68.4	80.9	86.0	99.1	100.0	100.0
95% VaR - Value at Risk (%) - Cumulative		8.26	13.13	16.96	24.46	36.92	8.03	0.00	0.00
95% CVaR - Conditional Value at Risk (%)		10.57	17.14	22.63	36.08	46.66	19.05	0.00	0.00
99% VaR - Value at Risk (%) - Cumulative		12.06	19.72	26.27	41.94	49.50	24.16	0.00	0.00
99% CVaR - Conditional Value at Risk (%)		14.47	23.91	32.19	49.35	60.70	38.86	0.00	0.00
Short term VaRs: analytical \| 1+ year VaRs: historical data
Safe Withdrawal Rate (%)					59.15	18.46	12.03	7.81	7.11	10.65
Perpetual Withdrawal Rate (%)					---	---	---	---	4.18	9.39
% based on initial capital, inflation-adj. monthly withdrawals afterwards \| Credits: BestRetirementPortfolio.com
··· All available data (Aug 1953 - Jun 2025)
Best Rolling Return (%) - Annualized					106.47	48.39	40.89	30.47	16.03	15.19
Worst Rolling Return (%) - Annualized					-50.21	-27.23	-10.06	-2.61	-0.41	7.26
Positive Periods (%)					68.4	83.3	89.6	97.7	99.6	100.0
Best Rolling Return (%) - Annualized					103.25	43.97	35.61	25.30	12.51	12.12
Worst Rolling Return (%) - Annualized					-50.49	-28.68	-13.76	-6.43	-3.40	3.65
Positive Periods (%)					61.9	70.0	74.3	81.7	88.9	100.0
95% VaR - Value at Risk (%) - Cumulative		7.43	11.88	15.42	21.52	22.91	13.76	0.00	0.00	0.00
95% CVaR - Conditional Value at Risk (%)		9.51	15.47	20.50	29.23	36.42	22.49	2.58	0.00	0.00
99% VaR - Value at Risk (%) - Cumulative		10.84	17.78	23.76	34.25	45.54	28.97	14.89	0.00	0.00
99% CVaR - Conditional Value at Risk (%)		13.00	21.53	29.07	41.47	51.46	33.96	18.55	0.00	0.00
Short term VaRs: analytical \| 1+ year VaRs: historical data
Safe Withdrawal Rate (%)					59.15	18.46	12.03	7.36	4.06	3.22
Perpetual Withdrawal Rate (%)					---	---	---	---	---	2.27
% based on initial capital, inflation-adj. monthly withdrawals afterwards \| Credits: BestRetirementPortfolio.com

Terms and Definitions

Annualized Portfolio Return: the annualized geometric mean return of the portfolio. When cashflows are involved, it is calculated using the Money-Weighted Rate of Return (MWRR), based on the Modified Dietz formula.
Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration. When cashflows are involved, portfolio values are normalized by the invested capital (i.e. owned quotes) at each time step: this isolates the effect of market performance from capital contributions, avoiding misleading drawdowns caused by large inflows that artificially lift portfolio value and, as a result, the drawdowns match the ones without cash flows.
Longest negative period: it's the maximum period for which an overall negative return has been observed.
Standard Deviation: it's a measure of the dispersion of returns around the mean.
Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
Value at Risk (VaR): it's an evaluation of a cumulative worst-case loss (in absolute value), associated with a probability (95%-99%) and a time horizon. For short term, it's calculated based on the expected return and standard deviation, assuming a normal distribution of monthly returns. For long term is retrieved by the historical rolling return data.
Conditional Value at Risk (CVaR): it represents the average expected loss if that worst-case threshold (95%-99%) is ever crossed.
Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

VANGUARD REAL ESTATE (VNQ) TO EUR ETF

Drawdown periods

Drawdown periods - Inflation Adjusted

1 July 1995 - 30 June 2025 (30 Years)

1 August 1953 - 30 June 2025 (~72 years)

30 Years
(1995/07 - 2025/06)

All Data
(1953/08 - 2025/06)

Inflation Adjusted:

Chart Table Range

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Rolling Returns

For a detailed rolling return analysis, click here
Vanguard Real Estate (VNQ) to EUR ETF: Rolling Returns

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

VANGUARD REAL ESTATE (VNQ) TO EUR ETF

Annualized Rolling Returns

Annualized Rolling Returns - Inflation Adjusted

1 July 1995 - 30 June 2025 (30 Years)

1 August 1953 - 30 June 2025 (~72 years)

30 Years
(1995/07 - 2025/06)

All Data
(1953/08 - 2025/06)

Inflation Adjusted:

Return Chart Capital Chart Table

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The values shown for the rolling periods represent key statistical points: the minimum, maximum, median, and the 15th and 85th percentiles. These percentiles give insight into the distribution of the data, indicating the range within which the central 70% of the values lie, while the median represents the middle value.

Seasonality

In which months is it better to invest in Vanguard Real Estate (VNQ) to EUR ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past. They are retrieved considering the time period from August 1953 to June 2025.

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For further information about the seasonality, check the Asset Class Seasonality page.

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Vanguard Real Estate (VNQ) to EUR ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

VANGUARD REAL ESTATE (VNQ) TO EUR ETF

Monthly Returns Distribution

1 July 1995 - 30 June 2025 (30 Years)

1 August 1953 - 30 June 2025 (~72 years)

215 Positive Months (60%) - 145 Negative Months (40%)

505 Positive Months (59%) - 358 Negative Months (41%)

30 Years
(1995/07 - 2025/06)

All Data
(1953/08 - 2025/06)

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Methodology

Returns, up to December 2004, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

For non-EUR assets, returns are calculated based on the performance of the original asset, adjusted for actual currency exchange rates.

Table of contents

Resources & Extras

Investment Returns as of Jun 30, 2025

Investment Metrics as of Jun 30, 2025

Drawdowns

Rolling Returns

Seasonality

Monthly Returns