Vanguard Real Estate Index Institutional VGSNX
Release Date: 03-31-2020
Vanguard Real Estate Index Institutional VGSNX
..........................................................................................................................................................................................................................................................................................................................................
Benchmark S&P United States REIT TR USD
Overall Morningstar RatingTM
QQQ
Morningstar Return Average
Morningstar Risk Above Average
Out of 226 Real Estate funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a
weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details.
Investment Objective & Strategy
From investment's prospectus
The investment seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of the MSCI US Investable Market Real Estate 25/50 Index that measures the performance of publicly traded equity REITs and other real estate-related investments.
The advisor attempts to track the index by investing all, or substantially all, of its assets-either directly or indirectly through a wholly owned subsidiary, which is itself a registered investment company-in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is nondiversified.
Fees and Expenses as of 05-30-19
Prospectus Net Expense Ratio Total Annual Operating Expense Maximum Sales Charge 12b-1 Fee Redemption Fee/Term
0.10% 0.10%
. . .
Waiver Data
Type
.
.
Exp. Date
%
.
.
Operations and Management
Fund Inception Date
12-02-03
Portfolio Manager(s)
Gerard C. O'Reilly
Walter Nejman
Name of Issuer
Vanguard
Telephone
888-809-8102
Web Site
Benchmark Description: S&P United States REIT TR USD
The index measures the performance of investable universe of pubilcly traded real estate investment trusts domiciled in the United States.
Category Description: Real Estate
Real estate portfolios invest primarily in real estate investment trusts of various types. REITs are companies that develop and manage real estate properties. There are several different types of REITs, including apartment, factory-outlet, health-care, hotel, industrial, mortgage, office, and shopping center REITs. Some portfolios in this category also invest in real estate operating companies.
Performance
40
Total Return%
30
as of 03-31-20
20
Investment
10
Benchmark
0
-10
-20
-30
Average annual, if greater than 1 year.
YTD
1 Year
3 Year
5 Year
10 Year
Since Inception
-24.10
-16.51
-1.44
0.51
7.91
7.51
Fund Return %
-24.10
-16.51
-1.44
0.51
7.91
7.51
Load-Adj. Return %
-26.90
-21.42
-3.17
-0.61
7.31
7.01
Benchmark Return %
.............-.2..6....3..5.................-.1..9....2..1...................-.2....7..7...................-.0....4..6....................7....0..8....................6....7..7....................C..a..t.e..g..o..r.y...A..v..e..r.a..g..e...%.......
.
.
QQQ
QQQ
QQQ
.
Morningstar RatingTM
.
.
226
199
136
.
# of Funds in Category
Quarter End Returns as of 03-31-20
Fund ReturnYT%D
YTD
Standardized Return %
YTD
-24Y.T1D0 -24.10
1 Year
-1Y6T.D51 -16.51
3 Year
Y-1T.D44 -1.44
5 Year
YT0D.51 0.51
10 Year
7.91 7.91
Since Inception
7.51 7.51
Performance Disclosure: The performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate; thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than return data quoted herein. For performance data current to the most recent month-end please visit the website listed under Operations and Management on this page.
Portfolio Analysis as of 02-29-20
Composition as of 02-29-20
U.S. Stocks Non-U.S. Stocks Bonds Cash Other
% Assets
99.0 0.1 0.0 1.0 0.0
Morningstar Equity Style BoxTM as of 02-29-20
% Mkt Cap
Large Mid Small
.G..i.a..n..t.........................................0.....0..0.
Large
45.49
Medium
42.42
.S..m...a..l.l......................................1..1.....2..4.
Micro
0.86
Value Blend Growth
Top 10 Holdings as of 02-29-20
% Assets
Vanguard Real Estate II Index
10.87
American Tower Corp
7.40
Prologis Inc
4.58
Crown Castle International Corp
4.39
.E..q..u..i.n..ix...I.n..c.................................................................................3....6..0.
Simon Property Group Inc
2.78
Public Storage
2.42
Welltower Inc
2.24
SBA Communications Corp
2.20
AvalonBay Communities Inc
2.06
.......................................................................................................
Total Number of Stock Holdings
184
Total Number of Bond Holdings
0
Annual Turnover Ratio %
6.00
Total Fund Assets ($mil)
31,082.58
Morningstar Sectors as of 02-29-20
% Fund S&P 500 %
.h.......C...y.c..l.i.c..a..l.........................................................9..9....9..7............2..8....4..9.
r Basic Materials
0.00 2.09
t Consumer Cyclical
0.00 9.60
y Financial Services
0.01 13.79
u Real Estate
99.96 3.01
.j.......S...e..n..s..it..i.v.e..........................................................0....0..3............4..4....2..8.
i Communication Services
0.00 10.74
o Energy
0.00 2.65
p Industrials
0.03 8.71
a Technology
0.00 22.18
.k.......D...e..f.e..n..s..i.v..e........................................................0....0..0............2..7....2..5.
s Consumer Defensive
0.00 8.14
d Healthcare
0.00 15.54
f Utilities
0.00 3.57
Principal Risks as of 02-29-20 Loss of Money, Not FDIC Insured, Nondiversification, Interest Rate, Market/Market Volatility, Equity Securities, Management, Real Estate/REIT Sector
?2020 Morningstar, Inc., Morningstar Investment ProfilesTM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investment website at
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