Fund Facts  

Inception Date: Nov 12, 2001
CUSIP: 921908877
Ticker Symbol: VGSLX
Morningstar Category:Real Estate
As of Feb 28, 2022
Fund Net Assets ($millions) $84,113

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of the MSCI US Investable Market Real Estate 25/50 Index that measures the performance of publicly traded equity REITs and other real estate-related investments.

Principal Investment Strategies  

The advisor attempts to track the index by investing all, or substantially all, of its assets-either directly or indirectly through a wholly owned subsidiary, which is itself a registered investment company-in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2022
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Real Estate Index Adma-5.97%-5.97%21.45%11.44%9.67%9.70%10.66%
MSCI US IMI Real Estate 25-50 (Gross)a,b-5.95%-5.95%21.58%11.55%N/AN/AN/A
Morningstar Real Estatea,c-5.09%-5.09%21.77%10.99%9.23%9.18%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at www.icmarc.org, or institutions can go to investments.missionsq.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa
Gross Expenses0.12%
Net Expenses0.12%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2022 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI US IMI Real Estate 25-50 Index (Gross) represents the universe of companies in the U.S. equity market, including large, mid and small cap companies. All securities in the index are classified in the Real Estate sector as per the Global Industry Classification Standard (GICS). Gross total return indexes reinvest as much as possible of a company's dividend distributions. The reinvested amount is equal to the total dividend amount distributed to persons residing in the country of the dividend-paying company. Gross total return indexes do not, however, include any tax credits.

c. The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Mar 22, 2022Mar 22, 2022$0.817300000
Dec 23, 2021Dec 23, 2021$1.491800000
Sep 23, 2021Sep 23, 2021$0.931000000
Jun 23, 2021Jun 23, 2021$1.032700000
Mar 24, 2021Mar 24, 2021$0.745300000
Dec 23, 2020Dec 23, 2020$1.895300000
Sep 24, 2020Sep 24, 2020$0.836400000
Jun 24, 2020Jun 24, 2020$1.075100000
Mar 9, 2020Mar 9, 2020$0.918100000
Dec 17, 2019Dec 17, 2019$1.356300000
Sep 23, 2019Sep 23, 2019$1.053400000
Jun 26, 2019Jun 26, 2019$1.173300000
Mar 27, 2019Mar 27, 2019$0.872700000
Dec 12, 2018Dec 12, 2018$1.345400000
Sep 21, 2018Sep 21, 2018$1.620600000
Jun 15, 2018Jun 15, 2018$1.037200000
Mar 23, 2018Mar 23, 2018$1.001600000
Dec 20, 2017Dec 20, 2017$1.790700000
 

Morningstar Information

Morningstar RatingTM   As of Mar 31, 2022
Period Stars Category Size
Overall 3 Stars236
3-Year 3 Stars236
5-Year 3 Stars205
10-Year 3 Stars149

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Allocation of Assets As of Feb 28, 2022
Type of Asset Percent
Equity100%
Fixed Income0%
Cash/Other0%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Feb 28, 2022
Asset ClassPercent
Domestic Stock99.6%
Foreign Stock0.1%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash0.3%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 

Top Ten Holdings As of Feb 28, 2022
Holding NamePercent
Vanguard Real Estate II Index11.2%
Prologis Inc6.3%
American Tower Corp6.0%
Crown Castle International Corp4.2%
Equinix Inc3.7%
Public Storage3.3%
Simon Property Group Inc2.6%
Digital Realty Trust Inc2.2%
Realty Income Corp2.2%
Welltower Inc2.1%
 

Statistics

Portfolio Statistics As of Mar 31, 2022
Statistic3-Year5-Year
Beta1.001.01
Alpha-0.11-0.84
Standard Deviation19.0817.19
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2022 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with MissionSquare Retirement or its affiliates. MissionSquare Retirement does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.