REIT Performance
After a rough September (-2.54% total return), the REIT sector performed even worse in October (-3.91% total return). However, the disappointing performance of REITs was actually less dismal than that of the broader market, which generated even larger negative returns in October. REITs outperformed the S&P 500 (-6.94%), DJIA (-5.07%) and NASDAQ (-9.20%). Based on the outperformance of large-cap REITs in October relative to their smaller peers, the market-cap weighted Vanguard Real Estate ETF (VNQ) had a notably higher total return (-2.93%) than the average REIT (-3.91%). The REIT selloff of September and