DFGR vs GQRE: Grades, Fees and Holdings Compared

Dimensional Global Real Estate ETF

DFGRANYSE Arca

Northern Trust Global Quality Real Estate ETF

GQREBNYSE Arca

Overlap

43.5%by weight

Expense ratio

DFGR −0.24pt a year

DFGR0.21%GQRE0.45%

Avg volume · 30D

DFGR 17.3×the volume

DFGR543KGQRE31.5K

3Y return · a year

GQRE +0.1pt

DFGR+12.9%GQRE+13.0%

DFGR vs GQRE Performance

Oct 31, 2025 – Oct 30, 2026

+8.7%DFGR+7.3%GQRE

Expense ratio: DFGR 0.21%, better; GQRE 0.45%
Fund size: DFGR $3.91B; GQRE $426M
1Y total return: DFGR +8.7%, better; GQRE +7.3%
Yield (12M): DFGR 3.95%; GQRE 4.36%, better
Holdings: DFGR 434; GQRE 158
Avg volume (30D): DFGR 543K sh, better; GQRE 31.5K sh
NAV per share: DFGR $28.03; GQRE $60.91
52W range

ETF.net Grade

Pillar letters and Scores for DFGR, GQRE, with each pillar’s weight
Pillar	DFGR	GQRE
Cost30% weight	A82Higher	B68
Mission25% weight	Not scored	A100
Risk15% weight	B65	A75Higher
Tradability15% weight	A90Higher	A71
Holdings10% weight	B65	B65
Durability5% weight	B68	B68

Rank among Global & International Real Estate funds

How we build Categories ›

Same Category. DFGR and GQRE are both graded against the same 18 Global & International Real Estate funds, so their Grades compare head to head.

Global & International Real Estate⁠

Category · 18 funds

See all 18 ›

DFGR ranks 2nd and GQRE 5th of 18 funds in the Global & International Real Estate Category.

Rank 1AREETiShares Global REIT ETFScore 78
Rank 2ADFGRDimensional Global Real Estate ETFScore 77
Rank 3AHAUZXtrackers International Real Estate ETFScore 75
Rank 4AVNQIVanguard Global ex-U.S. Real Estate ETFScore 74
Rank 5BGQRENorthern Trust Global Quality Real Estate ETFScore 69
Rank 6BVGSRVert Global Sustainable Real Estate ETFScore 62

Our read on each fund

ETF.net Research

DFGRADimensional Global Real Estate ETF

GQREBNorthern Trust Global Quality Real Estate ETF

In short

DFGR One ticker for the world's landlords: US, developed and emerging-market REITs in a single market-cap-weighted portfolio, traded by Dimensional's desk rather than on an index calendar. Roughly 500 names.

GQRE Most global real estate funds just buy the sector by size. GQRE screens it first: a Northern Trust index built to maximize quality, value and momentum across US and overseas REITs, at 0.45% net of a waiver through March 1, 2027.

Stated mandate

DFGR The fund seeks long-term capital appreciation by investing broadly in U.S. and non-U.S. companies principally engaged in real estate, including REITs and REIT-like entities.

GQRE The Fund seeks to track the price and yield performance, before fees and expenses, of the Northern Trust Global Quality Real Estate Index.

Why people hold it

DFGR Fee is 0.21% net of a waiver through February 28, 2027 (0.22% gross), below the category median, though index peers REET (0.14%) and HAUZ (0.10%) charge less.
Holds US and non-US real estate, developed and emerging markets, in one wrapper. HAUZ and VNQI are ex-US only, so pairing them with a US REIT fund is the usual workaround.sec.gov
No index to shadow: the prospectus lets Dimensional weight by market cap while flexing trade timing and capping country or issuer exposure.sec.gov
A multi-billion-dollar fund that trades actively, and it pays distributions quarterly.

GQRE The index is built to maximize quality, value and momentum inside the real estate universe, with the quality score reading profitability, cash flow and management strength.flexshares.com
Genuinely global: US plus overseas names, REITs and real estate operating companies, where peers HAUZ (0.10%) and VNQI (0.12%) stop outside the US.flexshares.com
Trading since 2013 with roughly 200 holdings and quarterly payouts, it sits in the upper half of its global real estate peer group.

Worth knowing

DFGR Single-sector by design, so it moves with property markets and the rates that price them, with roughly 500 names spread across that one sector.
Foreign REITs mean currency moves land in your return; the fund may use currency forwards for settlement, not to hedge its exposure.sec.gov
Without a published index to track, there is no simple tracking-difference yardstick, and the waiver expires February 28, 2027, leaving the 0.22% gross fee.sec.gov

GQRE 0.45% net of a waiver through March 1, 2027 (0.46% gross) sits near the category median, above trackers REET (0.14%) and DFGR (0.21%, waived through February 28, 2027).
One of the quieter tickers in its category, so the gap between bid and ask can matter more here than with the category's most traded names.
One sector, and a rate-sensitive one: fund documents flag real estate concentration risk, and the factor screen can send it well away from a plain cap-weighted REIT basket.flexshares.com

Full DFGR profile⁠

Full GQRE profile⁠

DFGR vs GQRE Holdings

How DFGR and GQRE differ

Overlap by weight

43.5%

Shared holdings make up 74.0% of GQRE and 60.8% of DFGR.

Level by level

Asset classReal Estate, Equity0.0%
Holdings93 in both43.5%
Countryby domicile86.5%
Sector4 Sectors99.5%

Sector

Sector weights in DFGR and GQRE, widest gap first
Sector	More in DFGRMore in GQRE	DFGR	GQRE
Consumer Discretionary	GQRE +0.5 points	0.0%	0.5%
Real Estate	DFGR +0.5 points	98.6%	98.1%
Consumer Staples	Same weight	0.0%	0.0%
Financials	Same weight	1.3%	1.3%

Country, concentration and asset class

Country by domicile

Country weights in DFGR and GQRE, widest gap first
Country	More in DFGRMore in GQRE	DFGR	GQRE
United States	DFGR +6.3 points	75.3%	69.0%
Japan	GQRE +3.2 points	4.4%	7.6%
Australia	DFGR +2.8 points	6.0%	3.2%
Hong Kong	GQRE +2.7 points	0.9%	3.6%
Switzerland	GQRE +2.1 points	0.0%	2.1%
Israel	GQRE +1.9 points	0.0%	1.9%
France	GQRE +1.6 points	1.6%	3.2%
Canada	GQRE +1.0 points	1.1%	2.1%
Other countries (16)	DFGR +3.5 points	10.8%	7.3%

Outside the US: DFGR 89% developed, 11% emerging. GQRE 94% developed, 6% emerging.

Concentration

Weight in the 10 largest Holdings

DFGR41.9%
GQRE35.3%

Securities held

DFGR414
GQRE141

Asset class

DFGR: Real Estate
GQRE: Equity

Holdings

Only in DFGR321
In both93
Only in GQRE48

Only in DFGR

321 securities, 39.0% of DFGR by weight

Vivmark Residential2.32%
Goodman Group2.23%
Iron Mountain Inc1.83%
Crown Castle Inc1.65%
Extra Space Storage Inc.1.65%
Segro PLC1.01%
Essex Property0.88%
Sba Communications Corp0.87%
Scentre Group0.76%
Link Reit0.74%
Invitation Homes Inc0.73%
Mid-America Apartment0.71%
Lamar Advertising Co0.71%
Sun Communities Inc0.70%
Capitaland Integrated Com0.64%
American Healthcare Reit0.63%
Equity Lifestyle Properti0.56%
Udr Inc0.53%
Gaming and Leisure Proper0.52%
Bxp Inc0.49%
Cubesmart0.47%
Federal Realty Investment0.46%
Rexford Industrial Realty0.44%
Agree Realty Corp0.43%
Capitaland Ascendas Reit0.40%
British Land Co Plc/The0.40%
Londonmetric Property PLC0.37%
Charter Hall Group0.37%
Gpt Group/The0.37%
Aedifica SA0.37%
Macerich Co/The0.36%
Nippon Building Fund Inc0.34%
Merlin Properties Socimi0.32%
Healthcare Realty Trust I0.31%
Essential Properties Real0.30%
Fibra Uno Administracion0.27%
Phillips Edison & Co Inc0.26%
Japan Real Estate Investm0.25%
Warehouses De Pauw Cva0.25%
Dexus0.25%
Prologis Property Mexico0.25%
Primary Health Properties0.22%
Americold Realty Trust0.21%
Nippon Prologis Reit Inc0.20%
Keppel Dc Reit0.20%
Kdx Realty Investment Cor0.19%
Embassy Office Parks Reit0.19%
Sl Green Realty Corp0.19%
Growthpoint Properties Lt0.18%
Derwent London PLC0.18%

Only in GQRE

48 securities, 21.0% of GQRE by weight

Vivmark Residential Reit USD 0.012.67%
Sun Hung Kai Properties Ltd Common Stock Hkd 02.31%
Sumitomo Realty & Development Co Ltd Common Stock1.54%
Ck Asset Holdings Ltd Common Stock Hkd 11.31%
Psp Swiss Property AG Common Stock Chf 0.11.07%
Hongkong Land Holdings Ltd Common Stock USD 0.11.02%
Daito Trust Construction Co Ltd Common Stock Jpy0.74%
Sino Land Co Ltd Common Stock Hkd 00.60%
Tokyu Fudosan Holdings Corp Common Stock Jpy0.55%
Millrose Properties Inc Reit USD 0.010.51%
Tokyo Tatemono Co Ltd Common Stock Jpy0.47%
Mega Or Holdings Ltd Common Stock0.45%
Allreal Holding AG Common Stock Chf 500.44%
Big Shopping Centers 2004 Lt0.44%
Open House Group Co Ltd Common Stock Jpy0.43%
Nomura Real Estate Holdings Inc Common Stock Jpy0.40%
Mobimo Holding AG Common Stock Chf 3.40.38%
Melisron Ltd Common Stock Ils 10.38%
Rayonier Inc Reit USD 00.38%
Uol Group Ltd Common Stock Sgd 00.37%
City Developments Ltd Common Stock Sgd 00.34%
St Joe Co/The Common Stock USD 00.33%
Howard Hughes Holdings Inc Common Stock USD0.32%
Leg Immobilien SE Common Stock Eur0.29%
Sirius Real Estate Ltd Reit Gbp 00.28%
Iida Group Holdings Co Ltd Common Stock Jpy0.27%
Kerry Properties Ltd Common Stock Hkd 10.24%
Katitas Co Ltd Common Stock Jpy0.23%
Hysan Development Co Ltd Common Stock Hkd 00.23%
Airport City Ltd Common Stock Ils 0.010.23%
Safestore Holdings PLC Reit Gbp 10.21%
Amot Investments Ltd Common Stock Ils 10.21%
Grainger PLC Reit Gbp 50.19%
Vgp NV Common Stock Eur 550.18%
Safehold Inc Reit0.17%
Capitaland India Trust Unit Sgd 00.16%
Aroundtown SA Common Stock Eur 0.010.16%
Medical Properties Trust Inc Reit USD 0.0010.16%
Euro Stoxx 50 Equity Index 18/DEC/2026 VGZ6 Index0.09%
Hang Lung Group Ltd Common Stock Hkd 00.05%
Auq0.04%
Intershop Holding AG Common Stock Chf 20.04%
Zug Estates Holding AG Common Stock Chf 250.03%
Summit Real Estate Holdings Ltd Common Stock Ils 10.02%
Blue Square Real Estate Ltd Common Stock Ils 10.02%
Investis Holding SA Common Stock Chf 0.10.02%
Singapore Land Group Ltd Common Stock Sgd 00.02%
591239W0.00%

Weight gaps

All 93 Holdings in both funds, largest gap first.

Holding weights in DFGR and GQRE, widest gap first
Holding	More in DFGRMore in GQRE	DFGR	GQRE
Welltower IncWELL	DFGR +3.49 points	8.71%	5.22%
American Tower Corp. ReitAMT	DFGR +2.70 points	4.34%	1.64%
Digital Realty Trust IncDLR	DFGR +2.54 points	3.51%	0.97%
Public StoragePSA	DFGR +2.44 points	2.77%	0.33%
Realty Income CorporationO	DFGR +2.35 points	2.81%	0.46%
Ventas Inc.VTR	DFGR +2.21 points	2.23%	0.02%
Vici Properties IncVICI	GQRE +2.05 points	1.40%	3.45%
Host Hotels & ResortsHST	GQRE +1.29 points	0.92%	2.21%
Kimco Realty Corp.KIM	GQRE +1.25 points	0.86%	2.11%
Wp Carey IncWPC	GQRE +1.10 points	0.77%	1.87%
Omega Healthcare InvestorOHI	GQRE +1.08 points	0.74%	1.82%
Healthpeak Properties IncDOC	GQRE +1.00 points	0.68%	1.68%
Equinix IncEQIX	DFGR +0.95 points	5.31%	4.36%
Regency Centers CorpREG	GQRE +0.91 points	0.66%	1.57%
Eastgroup Properties IncEGP	GQRE +0.79 points	0.55%	1.34%
Unibail-Rodamco-Westfield	GQRE +0.79 points	0.62%	1.41%
American Homes 4 RentAMH	GQRE +0.74 points	0.53%	1.27%
Camden Property TrustCPT	GQRE +0.67 points	0.53%	1.20%
Brixmor Property Group InBRX	GQRE +0.62 points	0.46%	1.08%
Caretrust Reit IncCTRE	GQRE +0.60 points	0.44%	1.04%
Nnn Reit IncNNN	GQRE +0.59 points	0.41%	1.00%
Klepierre SA	GQRE +0.58 points	0.49%	1.07%
Ryman Hospitality PropertRHP	GQRE +0.57 points	0.45%	1.02%
First Industrial Realty TFR	GQRE +0.54 points	0.38%	0.92%
Stag Industrial IncSTAG	GQRE +0.51 points	0.37%	0.88%
Terreno Realty CorpTRNO	GQRE +0.50 points	0.37%	0.87%
Alexandria Real EstateARE	GQRE +0.49 points	0.32%	0.81%
Vicinity Ltd	GQRE +0.45 points	0.39%	0.84%
Prologis Inc.PLD	GQRE +0.43 points	6.29%	6.72%
Vornado Realty TrustVNO	GQRE +0.41 points	0.29%	0.70%
Mirvac Group	GQRE +0.37 points	0.29%	0.66%
Cousins Properties IncCUZ	GQRE +0.37 points	0.25%	0.62%
Sabra Health Care Reit InSBRA	GQRE +0.37 points	0.26%	0.63%
Kite Realty Group TrustKRG	GQRE +0.37 points	0.27%	0.64%
Japan Metropolitan Fund I	GQRE +0.35 points	0.27%	0.62%
Outfront Media IncOUT	GQRE +0.34 points	0.27%	0.61%
Epr PropertiesEPR	GQRE +0.34 points	0.23%	0.57%
Tanger IncSKT	GQRE +0.32 points	0.22%	0.54%
Apple Hospitality Reit InAPLE	GQRE +0.31 points	0.22%	0.53%
Stockland	DFGR +0.31 points	0.42%	0.11%
Copt Defense PropertiesCDP	GQRE +0.28 points	0.20%	0.48%
Kilroy Realty CorpKRC	GQRE +0.27 points	0.21%	0.48%
Highwoods Properties IncHIW	GQRE +0.27 points	0.17%	0.44%
Tritax Big Box Reit PLCBBOX.L	GQRE +0.26 points	0.34%	0.60%
Park Hotels & Resorts IncPK	GQRE +0.25 points	0.17%	0.42%
Glp J-Reit	GQRE +0.24 points	0.21%	0.45%
Simon Property Group Inc.SPG	GQRE +0.24 points	3.62%	3.86%
Broadstone Net Lease IncBNL	GQRE +0.24 points	0.18%	0.42%
National Health InvestorsNHI	GQRE +0.24 points	0.16%	0.40%
Diamondrock Hospitality CDRH	GQRE +0.22 points	0.16%	0.38%
Big Yellow Group PLCBYG.L	GQRE +0.21 points	0.09%	0.30%
Daiwa House Reit Investme	GQRE +0.20 points	0.17%	0.37%
Land Securities Group PLCLAND.L	DFGR +0.21 points	0.48%	0.27%
Ltc Properties IncLTC	GQRE +0.20 points	0.12%	0.32%
Sunstone Hotel InvestorsSHO	GQRE +0.20 points	0.12%	0.32%
Rlj Lodging TrustRLJ	GQRE +0.19 points	0.09%	0.28%
Tokyu Reit Inc	GQRE +0.20 points	0.04%	0.24%
Xenia Hotels & Resorts InXHR	GQRE +0.19 points	0.10%	0.29%
Piedmont Realty Trust IncPDM	GQRE +0.19 points	0.06%	0.25%
American Assets Trust IncAAT	GQRE +0.18 points	0.06%	0.24%
Primaris Real Estate Inve	GQRE +0.18 points	0.06%	0.24%
Ct Real Estate Investment	GQRE +0.18 points	0.04%	0.22%
Alexander's IncALX	GQRE +0.18 points	0.03%	0.21%
Shaftesbury Capital PLCSHC.L	GQRE +0.18 points	0.19%	0.37%
Granite Real Estate Inves	GQRE +0.17 points	0.09%	0.26%
Innovative Industrial ProIIPR	GQRE +0.17 points	0.08%	0.25%
Bwp Trust	GQRE +0.17 points	0.08%	0.25%
Centuria Industrial Reit	GQRE +0.17 points	0.06%	0.23%
Riocan Real Estate Invest	GQRE +0.17 points	0.12%	0.29%
First Capital Real Estate	GQRE +0.17 points	0.10%	0.27%
Mitsui Fudosan Retail Fun	GQRE +0.17 points	0.06%	0.23%
Region Group	GQRE +0.17 points	0.11%	0.28%
Covivio	GQRE +0.17 points	0.14%	0.31%
H&R Real Estate Investmen	GQRE +0.16 points	0.05%	0.21%
Charter Hall Retail Reit	GQRE +0.16 points	0.08%	0.24%
Waypoint Reit Ltd	GQRE +0.16 points	0.06%	0.22%
Homeco Daily Needs Reit	GQRE +0.16 points	0.08%	0.24%
Smartcentres Real Estate	GQRE +0.16 points	0.09%	0.25%
Getty Realty CorpGTY	GQRE +0.16 points	0.08%	0.24%
Keppel Reit	GQRE +0.15 points	0.12%	0.27%
Sekisui House Reit Inc	GQRE +0.15 points	0.10%	0.25%
Montea NV	GQRE +0.15 points	0.08%	0.23%
Eurocommercial Properties	GQRE +0.15 points	0.08%	0.23%
Mitsui Fudosan Logistics	GQRE +0.14 points	0.12%	0.26%
Capitaland Ascott Trust M	GQRE +0.15 points	0.09%	0.24%
Carmila SA	GQRE +0.14 points	0.06%	0.20%
Dream Industrial Real Est	GQRE +0.15 points	0.08%	0.23%
Japan Excellent Inc	GQRE +0.14 points	0.05%	0.19%
Shurugard	GQRE +0.14 points	0.04%	0.19%
Mapletree Pan Asia Commer	GQRE +0.14 points	0.12%	0.26%
Colonial SFL Socimi SA	DFGR +0.04 points	0.09%	0.05%
Retail Estates NV	DFGR +0.01 points	0.04%	0.03%
Argan SA	DFGR +0.01 points	0.05%	0.04%

All 466 DFGR holdings⁠All 200 GQRE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DFGR vs GQRE Cost

Overpaying GQRE vs DFGR

$4,684

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DFGR 0.21%
$4,357
GQRE 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

DFGR 0.21%
GQRE 0.45%
Overpaying

Year by year

Year	DFGR	GQRE	Overpaying
10	$383	$812	$429
20	$1,491	$3,128	$1,637
30	$4,357	$9,041	$4,684

Expense ratio

0.21%DFGR, cheaper
0.45%GQRE

DFGR0.21%GQRE0.45%

0.10%0.60%

Middle half of Global & International Real Estate funds
Median 0.49%

DFGR 4th cheapest of 18 funds

GQRE 6th cheapest of 18 funds

DFGR vs GQRE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFGR 3.95%; GQRE 4.36%, better
Payout (12M): DFGR $1.11; GQRE $2.65
Last payment: DFGR $0.24; GQRE $0.42
Ex-dividend: DFGR Sep 22, 2026; GQRE Sep 18, 2026
Paid on: DFGR Sep 24, 2026; GQRE Sep 24, 2026
Frequency: DFGR Quarterly; GQRE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DFGRQuarterly · 16 paymentsAll DFGR payments⁠

GQREQuarterly · 38 paymentsAll GQRE payments⁠

DFGR vs GQRE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFGR 15.8%GQRE 14.8%, better
Return per unit of riskSharpe ratio, 3 years: DFGR 0.57GQRE 0.60, better
Worst fallMax drawdown, 5 years: DFGR −21.3%since Dec 2022GQRE −35.1%
Market sensitivityBeta, 5 years: DFGR 0.90GQRE 0.92; Market = 1

DFGR and GQRE in the news

All news⁠

Deep Dive
Global real estate ETFs that are up for 2026 are built mostly of U.S. REITs
Oct 14, 2026DFGR

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DFGR vs GQRE

In short

Stated mandate

Why people hold it

Worth knowing

How DFGR and GQRE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFGR

Only in GQRE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Global real estate ETFs that are up for 2026 are built mostly of U.S. REITs

How DFGR and GQRE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DFGR

Only in GQRE

Weight gaps