Investment objective & strategy
As of May 29, 2025 · prospectusObjective. The Fund seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of a benchmark index that measures the performance of publicly traded equity REITs and other real estate-related investments.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Real Estate 25/50 Index (the Index), an index that is made up of stocks of large, mid-size, and small U.S. companies within the real estate sector, as classified under the Global Industry Classification Standard (GICS ). The GICS real estate sector is composed of equity real estate investment trusts (known as REITs), which include specialized REITs, and real estate management and development companies. The Fund attempts to track the Index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index. The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Real Estate 25/50 Index (the Index), an index that is made up of stocks of large, mid-size, and small U.S. companies within the real estate sector, as classified under the Global Industry Classification Standard (GICS ). The GICS real estate sector is composed of equity real estate investment trusts (known as REITs), which include specialized REITs, and real estate management and development companies. The Fund attempts to track the Index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| WELLTOWER INC | — | $826.50M | 8.36% |
| PROLOGIS INC REIT | — | $795.44M | 8.05% |
| AMERICAN TOWER CORP | — | $533.71M | 5.40% |
| EQUINIX INC | — | $527.07M | 5.33% |
| SIMON PROPERTY | — | $409.76M | 4.15% |
| DIGITAL REALTY TRUST INC | — | $371.31M | 3.76% |
| REALTY INCOME CORP REIT | — | $366.86M | 3.71% |
| CBRE GROUP INC - CL A | — | $332.51M | 3.36% |
| PUBLIC STORAGE | — | $286.12M | 2.90% |
| CROWN CASTLE INC | — | $248.01M | 2.51% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Real Estate Index Fund · FSRNX | 97% | 0.07% |
| Fidelity SAI Real Estate Index Fund · FESIX | 97% | 0.07% |
| REAL ESTATE INDEX PORTFOLIO | 95% | 0.26% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of May 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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