Real Estate Index Portfolio
Data updated: 2026-08-28
C000012148 — Real Estate Index Portfolio. United States Real Estate · $1.19B AUM · 0.26% expense ratio. Holdings, fees, performance and SEC filings.
C000012148 Fund Overview
Real Estate Index Portfolio is a US mutual fund managed by Vanguard Variable Insurance Funds, categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Vanguard Variable Insurance Funds
- Category: United States Real Estate
- Assets under management: $1.19B
- 1-year return: 12.3%
- SEC CIK: 0000857490
- SEC series ID: S000004392
- Share class ID: C000012148
C000012148 Investment Objective and Strategy
Real Estate Index Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Vanguard Variable Insurance Funds.
Investment objective
Vanguard Variable Insurance Funds Real Estate Index Portfolio (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.
Principal investment 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 Target Index), which 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. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.
The Fund is considered nondiversified, as defined under the Investment Company Act of 1940, which means that it may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. As a matter of fundamental policy, the Fund concentrates its investments (i.e., invests more than 25% of its assets) in the securities of issuers whose principal business activities are in the real estate industry.
C000012148 Holdings
Top 10 holdings of Real Estate Index Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Welltower Inc | 9.94% |
| Prologis Inc | 7.85% |
| Equinix Inc | 6.39% |
| American Tower Corp | 4.74% |
| Simon Property Group Inc | 4.52% |
| Realty Income Corp | 3.59% |
| Digital Realty Trust Inc | 3.16% |
| Public Storage | 3.13% |
| Ventas Inc | 2.62% |
| CBRE Group Inc | 2.47% |
C000012148 Portfolio Allocation
Asset-class allocation of Real Estate Index Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
| Cash & Equivalents | 0.5% |
C000012148 Performance
Total returns for C000012148 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 11.0% |
| 1 year | 12.3% |
| 3 years (annualised) | 9.0% |
| 5 years (annualised) | 2.7% |
C000012148 Risk Information
Risk metrics for C000012148, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.5%
C000012148 Costs and Fees
C000012148 costs about $26 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.26%
- Gross expense ratio: 0.26%
- Portfolio turnover: 8%
- Brokerage commissions: 0.20 bps of average net assets (SEC N-CEN)
C000012148 Cashflows
Over the 12 months to 2026-06, Real Estate Index Portfolio had net inflows of $13.91M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$3.43M |
| 2026-05 | $210.25K |
| 2026-04 | −$7.15M |
| 2026-03 | $40.68M |
| 2026-02 | $12.89M |
| 2026-01 | −$1.43M |
C000012148 Debt Constituents
No individual debt constituents are reported in Real Estate Index Portfolio's latest SEC N-PORT filing.
C000012148 Prospectus and SEC Filings
Official Real Estate Index Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-13
Related Funds
Other United States Real Estate funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.