FEXU.L vs. VPN.L
FEXU.L (First Trust US Large Cap Core AlphaDEX UCITS ETF) and VPN.L (Global X Data Center REITs & Digital Infrastructure UCITS ETF USD (Acc)) are both exchange-traded funds - FEXU.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while VPN.L is a REIT fund tracking the Solactive Data Center REITs & Digital Infrastructure v2 Index. Both are passively managed. Over the past 3 years, FEXU.L returned 17.16%/yr vs 26.86%/yr for VPN.L. A 0.65 correlation means they provide meaningful diversification when combined. FEXU.L charges 0.75%/yr vs 0.50%/yr for VPN.L.
Performance
FEXU.L vs. VPN.L - Performance Comparison
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Returns By Period
In the year-to-date period, FEXU.L achieves a 13.76% return, which is significantly lower than VPN.L's 29.81% return.
FEXU.L
- 1D
- -0.33%
- 1M
- -2.33%
- 6M
- 10.08%
- YTD
- 13.76%
- 1Y
- 23.12%
- 3Y*
- 17.16%
- 5Y*
- 10.82%
- 10Y*
- 12.35%
VPN.L
- 1D
- -1.35%
- 1M
- -13.39%
- 6M
- 16.18%
- YTD
- 29.81%
- 1Y
- 44.32%
- 3Y*
- 26.86%
- 5Y*
- —
- 10Y*
- —
FEXU.L vs. VPN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FEXU.L First Trust US Large Cap Core AlphaDEX UCITS ETF | 13.76% | 15.23% | 16.68% | 14.66% | -12.27% | 3.58% |
VPN.L Global X Data Center REITs & Digital Infrastructure UCITS ETF USD (Acc) | 29.81% | 29.31% | 13.54% | 17.68% | -30.40% | 3.62% |
Correlation
The correlation between FEXU.L and VPN.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021 | 0.65 |
The correlation between FEXU.L and VPN.L has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
FEXU.L vs. VPN.L — Risk / Return Rank
FEXU.L
VPN.L
FEXU.L vs. VPN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) and Global X Data Center REITs & Digital Infrastructure UCITS ETF USD (Acc) (VPN.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FEXU.L | VPN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 2.87 | +1.27 |
| Martin ratioReturn relative to average drawdown | 13.36 | 8.60 | +4.76 |
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Drawdowns
FEXU.L vs. VPN.L - Drawdown Comparison
The maximum FEXU.L drawdown since its inception was -39.38%, roughly equal to the maximum VPN.L drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for FEXU.L and VPN.L.
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Drawdown Indicators
| FEXU.L | VPN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.38% | -38.80% | -0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -5.56% | -15.39% | +9.83% |
Max Drawdown (3Y)Largest decline over 3 years | -20.15% | -25.58% | +5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -20.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.38% | — | — |
Current DrawdownCurrent decline from peak | -2.92% | -15.39% | +12.47% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -14.64% | +10.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 5.14% | -3.41% |
Volatility
FEXU.L vs. VPN.L - Volatility Comparison
The current volatility for First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) is 3.93%, while Global X Data Center REITs & Digital Infrastructure UCITS ETF USD (Acc) (VPN.L) has a volatility of 7.36%. This indicates that FEXU.L experiences smaller price fluctuations and is considered to be less risky than VPN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEXU.L | VPN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 7.36% | -3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.42% | 17.63% | -8.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 23.60% | -11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.34% | 22.63% | -6.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.31% | 22.63% | -5.32% |
FEXU.L vs. VPN.L - Expense Ratio Comparison
FEXU.L has a 0.75% expense ratio, which is higher than VPN.L's 0.50% expense ratio.
Dividends
FEXU.L vs. VPN.L - Dividend Comparison
Neither FEXU.L nor VPN.L has paid dividends to shareholders.
Frequently Asked Questions
FEXU.L and VPN.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VPN.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VPN.L is cheaper with a 0.50% expense ratio, compared with 0.75% for FEXU.L.
FEXU.L is categorized as Large Cap Blend Equities, while VPN.L is REIT. FEXU.L tracks Russell 1000 TR USD, while VPN.L tracks Solactive Data Center REITs & Digital Infrastructure v2 Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.75% for FEXU.L and 0.50% for VPN.L.
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