At a glance
VGSR charges 0.45% a year, above the 0.22% average of the 8 funds most like it (the 8th cheapest of 9). It has $523.7M in assets, the 8th largest of that group; it paid 2.95% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +2.9% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds. Its ten largest positions make up 44.7% of the fund, out of 143 in all.
The short version
Vert Global Sustainable Real Estate ETF (VGSR) is an actively managed fund that held 143 real estate stocks, mostly REITs, in the US and abroad as of June 30, 2026. Vert picks them using its own environmental, social and governance (ESG) criteria, and Dimensional Fund Advisors trades the portfolio. Its 0.45% expense ratio is about double the 0.22% average of similar funds. It pays quarterly, with a 12-month yield of 2.95% as of October 27, 2026.
Price history
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VGSR +2.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VGSR official prospectus, to Dec 31, 2025 | — | +6.83% | — | +4.66% | — | +3.43% |
| VGSR price data to Oct 27, 2026 | +6.7% | +2.9% | — | — | — | +8.9% |
- Over the year to Oct 27, 2026, VGSR returned +2.9%, 7th of 9 among similar funds.
- Its worst full calendar year was 2024 (+5.5%); its best was 2025 (+6.4%).
- The deepest fall in its price history was 18.4% (Sep 16, 2024 to Apr 8, 2025), recovered by Oct 27, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.7% | — |
| 2025 | +6.4% | +6.83% |
| 2024 | +5.5% | +5.45% |
| 2023 | — | +13.91% |
| 2022 | — | -26.19% |
| 2021 | — | +32.60% |
| 2020 | — | -10.09% |
| 2019 | — | +24.61% |
| 2018 | — | -9.70% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2500 | |
| 2025 | $0.3600 | -5.3% |
| 2024 | $0.3800 |
What's inside
As of Jun 30, 2026, the fund held 143 securities; the ten largest made up 44.7% of assets. It also reported 4.24% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Equinix Inc | 5.67% | |
| Simon Property Group Inc | 5.41% | |
| Welltower Inc | 5.18% | |
| Prologis Inc | 4.63% | |
| Digital Realty Trust Inc | 4.55% | |
| American Tower Corp | 4.24% | |
| Goodman Group | 4.23% | |
| Ventas Inc | 4.20% | |
| Iron Mountain Inc | 3.63% | |
| Extra Space Storage Inc | 2.97% | |
| AvalonBay Communities Inc | 2.53% | |
| Equity Residential | 2.27% | |
| Essex Property Trust Inc | 1.77% | |
| Kimco Realty Corp | 1.64% | |
| Host Hotels & Resorts Inc | 1.57% |
By country
United States 68.1%Australia 8.9%Japan 5.56%United Kingdom 5.13%France 3.29%By asset type
Stocks 99.1%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $15.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.06%, +0.66%, +1.54%.
How it works
VGSR does not track an index. Vert Asset Management, the advisor, chooses what to own. In normal markets the fund puts at least 80% of its net assets into real estate companies that pass Vert's ESG review. A company qualifies as real estate if at least half its revenue, profits or assets come from property, or if it is organized as a REIT. A REIT (real estate investment trust) is a company that owns income-producing property and pays out most of its income. Vert looks at environmental factors such as emissions, energy and water use, waste and flood risk. It also weighs labor practices, tenant engagement, board independence and bribery risk. Vert prefers company disclosures over third-party ESG ratings where it can.
The fund buys only in approved markets. The list includes the US, Australia, Japan, the UK, Singapore and some emerging markets such as Brazil and India. Within those markets, larger companies generally get bigger weights. Vert can adjust those weights, or leave a company out, based on sustainability, free float, price momentum, liquidity, profitability and other factors. It can also cap exposure to a single country or company.
Dimensional Fund Advisors handles portfolio management and trading as sub-advisor. Portfolio turnover was 6%. The fund may lend securities to earn extra income. Vert also votes proxies and talks with company management on ESG issues.
What it really costs
- VGSR charges 0.45% a year, versus an average of 0.22% for the similar funds below (8th of 9, cheapest first).
- Of that, 0.4% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.06% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $635 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VGSR | $46 | $158 | $279 | $635 |
In a retirement portfolio
VGSR adds global property exposure that has moved less in step with the broad stock market, but it is a single-sector fund that can fall sharply.
VGSR can add property exposure from around the world. As of June 30, 2026, 68.1% of the fund was in US companies, with the rest mainly in Australia, Japan, the UK, France and Singapore. Its one-year beta of 0.42 means it has moved much less in step with the overall market. Real estate can still fall hard, though. The prospectus shows a 26.19% loss in 2022, a 10.09% loss in 2020 and a 28.98% drop in the first quarter of 2020. Its record does not cover 2008. Since the ETF launched, its deepest fall was 18.4%, from September 2024 to April 2025, and it took about 6.6 months to recover. Selling in a bad year could lock in losses. The fund pays quarterly (2.95% yield as of October 27, 2026) and costs 0.45% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want global REIT exposure, with about a third outside the US, screened for factors like emissions, energy use and flood risk.
- Holders who want quarterly property income; the 12-month yield was 2.95% as of October 27, 2026.
- Long-term owners who like low turnover (6%), trading by Dimensional and Vert's ESG voting and engagement with company management.
Look elsewhere if
- Cost-focused investors: the 0.45% expense ratio compares with 0.22% for DFGR, 0.17% for AVRE and 0.08% for XLRE.
- Anyone who can't handle sharp drops; the prospectus shows a 26.19% loss in 2022 and a 28.98% fall in early 2020.
- Investors who want a long ETF record or a large fund; the ETF launched December 4, 2023, and held $524 million on June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VGSR this fund | — | 0.45% | $523.7M | +2.9% | — |
| DFGR Dimensional Global Real Estate ETF | 63% | 0.22% | $3.86B | +3.7% | +13.2% |
| AVRE Avantis Real Estate ETF | 62% | 0.17% | $861.1M | +3.5% | +12.6% |
| RWO SPDR Dow Jones Global Real Estate ETF | 59% | 0.5% | $1.25B | +5.2% | +13.8% |
| XLRE Real Estate Select Sector SPDR Fund | 59% | 0.08% | $8.10B | +2.8% | +13.3% |
| DFAR Dimensional US Real Estate ETF | 58% | 0.19% | $1.78B | +7.6% | +14.0% |
| USRT iShares Core U.S. REIT ETF | 58% | 0.08% | $4.66B | +8.5% | +15.9% |
| RWR SPDR Dow Jones REIT ETF | 57% | 0.25% | $1.84B | +8.6% | +15.6% |
Questions investors ask
Does VGSR pay monthly dividends?
No. VGSR pays dividends every quarter, not every month. Over the 12 months to October 27, 2026, it paid about $0.32 per share, a yield of 2.95%. Most of that income comes from REITs, which must pay out most of their taxable income. REIT dividends are often taxed at ordinary income rates rather than the lower qualified-dividend rate. Payments from foreign holdings may also have foreign taxes withheld, so the after-tax income can be lower than the headline yield.
What's the difference between VGSR and DFGR?
Both own global real estate stocks, and 63% of their holdings overlap. Dimensional manages DFGR directly and trades VGSR as sub-advisor. The main differences are cost and ESG screening. VGSR charges 0.45% and uses Vert's ESG criteria to choose holdings and set weights. DFGR charges 0.22% and is much larger, with about $3.9 billion in assets as of July 31, 2026, against VGSR's $524 million. As of October 27, 2026, one-year returns were 2.9% for VGSR and 3.7% for DFGR.
What is VGSR's expense ratio?
VGSR's expense ratio is 0.45%, according to its prospectus filed October 27, 2026. That figure includes a 0.40% management fee and is after a 0.06% fee waiver. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $46 over one year, $279 over five years and $635 over ten years. The average for similar real estate funds is 0.22%, and VGSR ranks 8th of 9 on cost.
What are VGSR's largest holdings?
As of June 30, 2026, the largest holdings were Equinix (5.7%), Simon Property Group (5.4%), Welltower (5.2%), Prologis (4.6%), Digital Realty (4.6%), American Tower (4.2%) and Australia's Goodman Group (4.2%). That mix covers data centers, malls, senior housing, warehouses and cell towers. The top 10 holdings made up 44.7% of the fund's 143 holdings. US companies were 68.1% of the portfolio, followed by Australia at 8.9% and Japan at 5.6%.
How did VGSR do in 2022?
VGSR lost 26.19% in 2022, according to its prospectus. That is its worst calendar year in the record, which goes back to 2018. Rising interest rates hit real estate stocks hard that year. Its worst quarter was a 28.98% drop in the first quarter of 2020. The prospectus also reports gains of 32.6% in 2021, 5.45% in 2024 and 6.83% in 2025. As of December 31, 2025, the five-year average annual return was 4.66%.