Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
GLOBAL REAL ESTATE FUND
mutual fund
VGREX
Payout Change
Pending
Price as of:
$6.98
-0.07
-0.99%
primary theme
International Real Estate
share class
VGREX (Mutual Fund)
GLOBAL REAL ESTATE FUND
Payout Change
Pending
Price as of:
$6.98
-0.07
-0.99%
primary theme
International Real Estate
share class
VGREX (Mutual Fund)
GLOBAL REAL ESTATE FUND
Payout Change
Pending
Price as of:
$6.98
-0.07
-0.99%
primary theme
International Real Estate
share class
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
5.8%
1 yr return
12.4%
3 Yr Avg Return
-3.7%
5 Yr Avg Return
-2.1%
Net Assets
$350 M
Holdings in Top 10
36.3%
52 WEEK LOW AND HIGH
$7.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.92%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 76.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
VGREX - Profile
Distributions
- YTD Total Return 5.8%
- 3 Yr Annualized Total Return -3.7%
- 5 Yr Annualized Total Return -2.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.83%
- Dividend Yield 2.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameGLOBAL REAL ESTATE FUND
-
Fund Family NameVALIC Company
-
Inception DateApr 01, 2008
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Blackburn
Fund Description
The Fund invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in real estate and real estate-related companies. A company is considered a “real estate company” or “real estate-related company” if at least 50% of its net assets, gross income, or net profits are attributable to ownership, development, construction, financing, management, or sale of commercial, industrial or residential real estate or interests therein. The Fund invests primarily in real estate investment trusts (“REITs”) and equity securities, including common and preferred stocks and convertible securities. The Fund’s investments in real estate and real estate-related companies may include real estate investment trusts, REIT-like structures, or real estate operating companies whose businesses and services are related to the real estate industry.In complying with the 80% investment requirement, the Fund may include synthetic securities that have economic characteristics similar to the Fund’s direct investments that are counted toward the 80% investment requirement.The Fund may invest in foreign securities, including securities of issuers in emerging markets. The Fund expects to invest a substantial portion of its assets in foreign securities economically tied to Japan, the United Kingdom, Australia, Hong Kong, Singapore, China, Canada, and Continental Europe. The Fund considers an investment tied economically to a country if the investment is exposed to the economic risks and returns of such a country. From time to time, the Fund’s investments with respect to a particular country may comprise a substantial portion of its investment portfolio.The Fund concentrates its investments in the real estate industry. The Fund’s Subadviser generally focuses on investing the Fund’s assets in equity real estate investment trusts (REITs) as well as similar entities formed under the laws of non-U.S. countries, but may also invest in mortgage REITs, hybrid REITs, and other U.S. and foreign real estate-related investments, including emerging market real estate-related investments.The Fund’s Subadviser may invest the Fund’s assets in real estate-related investments of any size. However, issuers of real estate-related investments tend to have small-to-medium capitalizations. The Fund’s Subadviser normally allocates the Fund’s investments across different REIT managers and property types but may from time to time focus the Fund’s investments in any one or a few of these areas.In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. Investors will be given at least 60 days written notice in advance of any change to the Fund’s 80% investment policy set forth above.
Read More
VGREX - Performance
Return Ranking - Trailing
| Period | VGREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.8% | -10.2% | 31.9% | 39.31% |
| 1 Yr | 12.4% | -8.5% | 35.7% | 38.73% |
| 3 Yr | -3.7%* | -17.7% | 17.0% | 52.10% |
| 5 Yr | -2.1%* | -10.3% | 14.9% | 87.12% |
| 10 Yr | -1.4%* | -2.9% | 10.5% | 98.26% |
* Annualized
Return Ranking - Calendar
| Period | VGREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.8% | -16.8% | 16.7% | 77.33% |
| 2022 | -27.1% | -39.5% | 4.5% | 31.14% |
| 2021 | 13.6% | -0.9% | 30.7% | 79.14% |
| 2020 | -10.3% | -19.7% | 13.7% | 83.44% |
| 2019 | 20.0% | 1.0% | 26.5% | 22.84% |
Total Return Ranking - Trailing
| Period | VGREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.8% | -10.2% | 31.9% | 39.31% |
| 1 Yr | 12.4% | -8.5% | 35.7% | 38.73% |
| 3 Yr | -3.7%* | -17.7% | 17.0% | 52.10% |
| 5 Yr | -2.1%* | -10.3% | 14.9% | 87.12% |
| 10 Yr | -1.4%* | -2.9% | 10.5% | 98.26% |
* Annualized
Total Return Ranking - Calendar
| Period | VGREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -14.6% | 23.4% | 66.86% |
| 2022 | -25.9% | -39.5% | 10.1% | 50.90% |
| 2021 | 13.6% | 5.7% | 101.8% | 88.96% |
| 2020 | -10.3% | -17.8% | 14.7% | 90.80% |
| 2019 | 20.0% | 4.3% | 37.2% | 92.59% |
NAV & Total Return History
VGREX - Holdings
Concentration Analysis
| VGREX | Category Low | Category High | VGREX % Rank | |
|---|---|---|---|---|
| Net Assets | 350 M | 4.27 M | 7.48 B | 47.95% |
| Number of Holdings | 86 | 5 | 691 | 35.06% |
| Net Assets in Top 10 | 112 M | 2.13 M | 4.55 B | 52.30% |
| Weighting of Top 10 | 36.27% | 20.1% | 63.7% | 61.27% |
Top 10 Holdings
- Prologis Inc 7.96%
- Equinix Inc 5.45%
- Welltower Inc 3.77%
- Digital Realty Trust Inc 3.45%
- Ventas Inc 3.26%
- Mitsui Fudosan Co Ltd 2.68%
- American Homes 4 Rent 2.57%
- AvalonBay Communities Inc 2.49%
- Vonovia SE 2.34%
- Simon Property Group Inc 2.30%
Asset Allocation
| Weighting | Return Low | Return High | VGREX % Rank | |
|---|---|---|---|---|
| Stocks | 98.35% | 3.62% | 126.54% | 68.97% |
| Cash | 2.20% | 0.00% | 11.23% | 37.36% |
| Bonds | 0.46% | 0.00% | 22.09% | 5.75% |
| Preferred Stocks | 0.00% | 0.00% | 7.25% | 41.38% |
| Other | 0.00% | -33.49% | 101.32% | 58.62% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 36.42% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | VGREX % Rank | |
|---|---|---|---|---|
| Real Estate | 97.11% | 72.53% | 100.00% | 49.11% |
| Consumer Cyclical | 1.31% | 0.00% | 13.03% | 17.75% |
| Technology | 0.94% | 0.00% | 4.92% | 18.93% |
| Communication Services | 0.65% | 0.00% | 10.08% | 46.15% |
| Utilities | 0.00% | 0.00% | 0.96% | 39.05% |
| Industrials | 0.00% | 0.00% | 4.91% | 49.70% |
| Healthcare | 0.00% | 0.00% | 1.54% | 44.97% |
| Financial Services | 0.00% | 0.00% | 9.53% | 47.93% |
| Energy | 0.00% | 0.00% | 0.11% | 36.09% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 37.87% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 39.64% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | VGREX % Rank | |
|---|---|---|---|---|
| US | 64.77% | 0.00% | 102.76% | 25.86% |
| Non US | 33.58% | 0.00% | 99.07% | 70.11% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | VGREX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 2.20% | 0.00% | 100.00% | 36.42% |
| Derivative | 0.00% | -0.18% | 2.62% | 47.98% |
| Securitized | 0.00% | 0.00% | 33.47% | 39.41% |
| Corporate | 0.00% | 0.00% | 99.92% | 42.94% |
| Municipal | 0.00% | 0.00% | 0.00% | 34.71% |
| Government | 0.00% | 0.00% | 9.24% | 35.29% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | VGREX % Rank | |
|---|---|---|---|---|
| US | 0.46% | 0.00% | 22.09% | 5.75% |
| Non US | 0.00% | 0.00% | 0.00% | 34.48% |
VGREX - Expenses
Operational Fees
| VGREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.92% | 0.10% | 36.96% | 79.31% |
| Management Fee | 0.75% | 0.09% | 1.50% | 33.53% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.06% | 0.01% | 0.25% | 45.65% |
Sales Fees
| VGREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| VGREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| VGREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 76.00% | 1.00% | 165.00% | 59.52% |
VGREX - Distributions
Dividend Yield Analysis
| VGREX | Category Low | Category High | VGREX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.54% | 0.00% | 5.52% | 25.86% |
Dividend Distribution Analysis
| VGREX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| VGREX | Category Low | Category High | VGREX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.83% | -0.23% | 3.84% | 30.00% |
Capital Gain Distribution Analysis
| VGREX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 07, 2024 | $0.179 | OrdinaryDividend |
| Mar 07, 2023 | $0.168 | OrdinaryDividend |
| Mar 07, 2023 | $0.145 | CapitalGainLongTerm |
| Mar 09, 2022 | $0.125 | OrdinaryDividend |
VGREX - Fund Manager Analysis
Managers
Mark Blackburn
Start Date
Tenure
Tenure Rank
May 01, 2008
14.09
14.1%
Mr. Blackburn is an Invesco Managing Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as Director of Securities Research and a Portfolio Manager. Prior to joining Invesco in 1998, he worked as an Associate Director of Research focusing on equity securities research and recommendations with a regional brokerage firm. He is a member of the National Association of Real Estate Investment Trusts (NAREIT).
Ping-Ying Wang
Start Date
Tenure
Tenure Rank
May 01, 2008
14.09
14.1%
Ms. Wang is an Invesco Senior Director and a Portfolio Manager on the Real Estate Securities Investment Team.Ms. Wang evaluates global real estate companies with a particular focus on Asian and North American countries while managing and performing portfolio risk analysis. In addition to these duties, Ms. Wang formulates investment strategies, spearheads thematic research projects and serves on the Real Estate Securities Management Executive Committee. She holds the Chartered Financial Analyst designation.
Darin Turner
Start Date
Tenure
Tenure Rank
Dec 04, 2009
12.5
12.5%
Darin Turner is a portfolio manager and member of the Real Estate Securities Portfolio Management and Research Team with Invesco Real Estate. His current duties involve evaluating structured real estate securities with a focus on fi xed-income instruments such as commercial mortgage-backed securities, corporate debt and corporate preferred stock. Mr. Turner also provides tenant and credit quality analysis, capital structure analysis and debt pricing analysis for equity portfolios. Mr. Turner joined Invesco in 2005 as an acquisitions analyst.
James Cowen
Start Date
Tenure
Tenure Rank
Oct 01, 2015
6.67
6.7%
Mr. Cowen is a Portfolio Manager with the Invesco Real Estate Global Securities Team. He has 18 years of experience in real estate and has worked for Invesco for 15 years. Prior to joining the team in 2004, he worked in a real estate corporate finance role for Invesco in Europe and as an analyst for a management consulting business based in London. He has a Bachelor and Masters Degree from the University of Manchester and a M.Phil degree from Cambridge University. He is a member of the UK Society of Investment Professionals, UK Securities & Investment Institute and is a UK FSA approved person.
Grant Jackson
Start Date
Tenure
Tenure Rank
Oct 01, 2018
3.67
3.7%
Grant Jackson is a senior director and portfolio manager with Invesco Real Estate’s Global Securities team. Mr. Jackson began his investment career in 2002 and joined Invesco in 2005. Prior to joining Invesco, he worked for PricewaterhouseCoopers Consulting where he was engaged in various technical roles involving data management, database coordination, and application development. Mr. Jackson earned a BS in Mechanical Engineering from the University of Texas at Austin and a MBA from Southern Methodist University’s Cox School of Business. Mr. Jackson is a CFA® charterholder.
Charles (Chip) McKinley
Start Date
Tenure
Tenure Rank
Jan 14, 2022
0.38
0.4%
Chip McKinley, Senior Vice President, is a portfolio manager for global real estate securities portfolios. Prior to joining Cohen & Steers in 2007, Mr. McKinley was a portfolio manager and REIT analyst at Franklin Templeton Real Estate Advisors. Previously, he was with Fidelity Investments. Mr. McKinley holds a BA from Southern Methodist University and an MBA from Cornell University. He is based in New York.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.12 | 10.42 |
