DNP vs. VPU

Last updated Jun 9, 2026

DNP (DNP Select Income Fund Inc.) is a stock, while VPU (Vanguard Utilities ETF) is Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index. Over the past 10 years, DNP returned 7.97%/yr vs 8.85%/yr for VPU. At a 0.40 correlation, their price movements are largely independent.

Performance

DNP vs. VPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DNP Select Income Fund Inc. (DNP) and Vanguard Utilities ETF (VPU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DNP achieves a 9.66% return, which is significantly higher than VPU's 2.68% return. Over the past 10 years, DNP has underperformed VPU with an annualized return of 7.97%, while VPU has yielded a comparatively higher 8.85% annualized return.

DNP

• 1D: -1.03%
• 1M: -0.14%
• YTD: 9.66%
• 6M: 10.26%
• 1Y: 18.20%
• 3Y*: 9.87%
• 5Y*: 8.26%
• 10Y*: 7.97%

VPU

• 1D: -1.87%
• 1M: -2.65%
• YTD: 2.68%
• 6M: 3.11%
• 1Y: 10.68%
• 3Y*: 12.74%
• 5Y*: 8.91%
• 10Y*: 8.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DNP vs. VPU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DNP DNP Select Income Fund Inc.	9.66%	22.61%	13.36%	-18.56%	10.96%	14.05%	-13.67%	31.00%	3.53%	13.29%
VPU Vanguard Utilities ETF	2.68%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%

Correlation

The correlation between DNP and VPU is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.40

The correlation between DNP and VPU shifts across timeframes, from 0.40 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DNP vs. VPU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DNP

DNP Risk / Return Rank: 86
DNP Sharpe Ratio Rank: 88
DNP Sortino Ratio Rank: 86
DNP Omega Ratio Rank: 84
DNP Calmar Ratio Rank: 83
DNP Martin Ratio Rank: 90

VPU

VPU Risk / Return Rank: 23
VPU Sharpe Ratio Rank: 23
VPU Sortino Ratio Rank: 22
VPU Omega Ratio Rank: 22
VPU Calmar Ratio Rank: 27
VPU Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DNP vs. VPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DNP Select Income Fund Inc. (DNP) and Vanguard Utilities ETF (VPU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DNP	VPU	Difference
Sharpe ratio: Return per unit of total volatility	1.87	0.75	+1.12
Sortino ratio: Return per unit of downside risk	2.65	1.09	+1.56
Omega ratio: Gain probability vs. loss probability	1.33	1.14	+0.20
Calmar ratio: Return relative to maximum drawdown	2.85	1.20	+1.64
Martin ratio: Return relative to average drawdown	11.95	2.66	+9.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DNP vs. VPU - Sharpe Ratio Comparison

The current DNP Sharpe Ratio is 1.87, which is higher than the VPU Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of DNP and VPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DNP	VPU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	0.75	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.52	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.46	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.53	-0.20

Drawdowns

DNP vs. VPU - Drawdown Comparison

The maximum DNP drawdown since its inception was -48.49%, roughly equal to the maximum VPU drawdown of -46.31%. Use the drawdown chart below to compare losses from any high point for DNP and VPU.

Drawdown Indicators

	DNP	VPU	Difference
Max Drawdown Largest peak-to-trough decline	-48.49%	-46.31%	-2.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-8.90%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.29%	-17.34%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-25.15%	+0.84%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	-36.42%	-3.14%
Current Drawdown Current decline from peak	-1.89%	-7.71%	+5.82%
Average Drawdown Average peak-to-trough decline	-8.52%	-7.78%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	4.02%	-2.49%

Volatility

DNP vs. VPU - Volatility Comparison

The current volatility for DNP Select Income Fund Inc. (DNP) is 3.19%, while Vanguard Utilities ETF (VPU) has a volatility of 5.56%. This indicates that DNP experiences smaller price fluctuations and is considered to be less risky than VPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNP	VPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	5.56%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	11.53%	-3.68%
Volatility (1Y) Calculated over the trailing 1-year period	9.79%	14.38%	-4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.52%	17.07%	-2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.13%	19.14%	-2.01%

Dividends

DNP vs. VPU - Dividend Comparison

DNP's dividend yield for the trailing twelve months is around 7.34%, more than VPU's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNP DNP Select Income Fund Inc.	7.34%	7.81%	8.84%	9.20%	6.93%	7.18%	7.60%	6.11%	7.50%	7.22%	7.62%	8.71%
VPU Vanguard Utilities ETF	2.70%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both DNP and VPU in my portfolio?

DNP and VPU have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DNP or VPU?

VPU has higher volatility (5.56%) compared to DNP (3.19%). In terms of maximum drawdown, DNP dropped -48.49% vs VPU's -46.31%.

Which has better risk-adjusted returns?

DNP currently has the higher Sharpe Ratio (1.87 vs 0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.