VAP invests in ASX-listed property trusts (A-REITs) that own shopping centres, offices, industrial estates and other property. It charges 0.23% a year, has $2.8b invested and returned -14.3% over the past year. The most similar ETF is SLF, which overlaps with it by about 95%.
📅 As at 30 September 2026: fee, size and 1-year return from the TMX Australia funds report; holdings and overlap from VAP’s published holdings as at 30 September 2026.
Is it a good time to buy VAP?
Nobody can time the market perfectly, but you can check the trend before you buy. Here’s where VAP stands right now.
Loading…
| Net flow, September | +$26m |
| Net flow, 2026 so far | +$6m |
| Average month in 2026 | +$1m |
Is the whole market risk on, caution or risk off this week? Members see it every Sunday, with the core ETF check-up.
🔒 See it free for 30 days →VAP is in a base. Prices moving sideways can be a time to build a position gradually and watch which way the trend breaks. There’s no rush either way.
General information only, not a recommendation to buy or sell VAP. Whether it suits you depends on your goals and the rest of your portfolio. Trend updated weekly; flows from the TMX Australia funds report (September 2026) and the Global X weekly market monitor. See every ETF’s trend in the ETF trend scanner, or read when to buy an ETF.
What is VAP?
Index: S&P/ASX 300 A-REIT Index · Distributions: Quarterly · Issuer: Vanguard · Exchange: ASX
Top 10 holdings
The 10 largest companies make up 87% of VAP.
| # | Company | Weight | |
|---|---|---|---|
| 1 | Goodman GroupReal Estate | 37.14% | |
| 2 | Scentre GroupReal Estate | 12.22% | |
| 3 | StocklandReal Estate | 7.00% | |
| 4 | Vicinity LtdReal Estate | 6.22% | |
| 5 | Charter Hall GroupReal Estate | 5.96% | |
| 6 | GPT Group/TheReal Estate | 5.85% | |
| 7 | Mirvac GroupReal Estate | 4.88% | |
| 8 | DexusReal Estate | 4.11% | |
| 9 | Region RE LtdReal Estate | 1.71% | |
| 10 | BWP Property Group LtdReal Estate | 1.46% |
Sector breakdown
ETFs most similar to VAP
How much each ETF’s holdings overlap with VAP, by weight. High overlap means owning both mostly doubles up.
| ETF | Overlap | |
|---|---|---|
| SLFSPDR S&P/ASX 200 Listed Property ETF | 95% | Compare in calculator → |
| MVAVanEck Australian Property ETF | 61% | Compare in calculator → |
| FAIRBetashares Australian Sustainability Leaders ETF | 18% | Compare in calculator → |
| VSOVanguard MSCI Australian Small Companies Index ETF | 11% | Compare in calculator → |
| MVWVanEck Australian Equal Weight ETF | 11% | Compare in calculator → |
| IESGiShares Core MSCI Australia Esg ETF | 11% | Compare in calculator → |
Core or satellite?
SATELLITE Property & infrastructure
VAP is a satellite: a property tilt. A-REITs are already part of broad Australian ETFs like VAS. In our approach, satellites are bought when they break out of a base into an uptrend, kept to a small slice of the portfolio, and sold with a stop loss. Read more in core and satellite investing.
Read more: ETFs for retirement
VAP FAQs
Is VAP a good ETF?
VAP is the largest Australian property ETF and has a low fee. It is concentrated in a handful of trusts, especially Goodman Group, and sensitive to interest rates. Whether it suits you depends on your goals and the rest of your portfolio.
What does VAP invest in?
VAP invests in ASX-listed property trusts (A-REITs) that own shopping centres, offices, industrial estates and other property. Its largest holdings are Goodman Group, Scentre Group, Stockland, and its biggest sector is real estate at about 99%.
What ETFs are similar to VAP?
The ETFs with the most overlap with VAP are SLF (about 95%) and MVA (about 61%). Use the free ETF overlap calculator to check your own mix.
How often does VAP pay distributions?
VAP pays distributions quarterly.
Should I own VAP and SLF together?
Usually there is little point: their holdings overlap by about 95%, so owning both mostly doubles up.
Fee, size and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns, 5-year figure is cumulative. Holdings from Vanguard as at 30 September 2026. Chart: TradingView. General information only, not a recommendation to buy or sell VAP. Consider the PDS and TMD before investing.