VNQ vs SPY — 20-Year Performance Comparison
Real Estate (REIT) vs S&P 500 — backtested 2005–2024
SPY wins$70,709 vs $37,027 on $10,000 over 20 years
VNQReal Estate (REIT)
Final value$37,027
CAGR+6.8%
Max drawdown-47.3%
Best year+41% (2021)
Years won10 of 20
SPYS&P 500
Final value$70,709
CAGR+10.3%
Max drawdown-37.0%
Best year+32% (2013)
Years won10 of 20
Growth of $10,000
2005–2024VNQSPY
VNQ$37,027
SPY$70,709
50/50 mix$53,216
50/50 blend: $53,216 (+8.7%/yr CAGR)
Splitting equally between VNQ and SPY would have landed between the two — slightly lower CAGR than SPY but less volatility. Try a custom split →
Year-by-year: VNQ vs SPY
| Year | VNQ | SPY | Winner |
|---|---|---|---|
| 2024 | +4.8% | +23.3% | SPY |
| 2023 | +11.8% | +26.3% | SPY |
| 2022 | -26.2% | -18.2% | SPY |
| 2021 | +40.5% | +28.7% | VNQ |
| 2020 | -4.7% | +18.4% | SPY |
| 2019 | +28.9% | +31.5% | SPY |
| 2018 | -6.0% | -4.4% | SPY |
| 2017 | +4.9% | +21.8% | SPY |
| 2016 | +8.6% | +12.0% | SPY |
| 2015 | +2.4% | +1.4% | VNQ |
| 2014 | +30.4% | +13.7% | VNQ |
| 2013 | +2.3% | +32.4% | SPY |
| 2012 | +17.6% | +16.0% | VNQ |
| 2011 | +8.6% | +2.1% | VNQ |
| 2010 | +28.4% | +15.1% | VNQ |
| 2009 | +30.1% | +26.5% | VNQ |
| 2008 | -37.0% | -37.0% | SPY |
| 2007 | -16.3% | +5.5% | SPY |
| 2006 | +35.2% | +15.8% | VNQ |
| 2005 | +11.6% | +4.9% | VNQ |
More comparisons
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