VNET vs. DLR

Last updated Jun 4, 2026

VNET (21Vianet Group, Inc.) and DLR (Digital Realty Trust, Inc.) are both stocks. VNET operates in Information Technology Services (Technology), while DLR operates in REIT - Office (Real Estate). Over the past 10 years, VNET returned -2.78%/yr vs 10.16%/yr for DLR. At a 0.13 correlation, their price movements are largely independent.

Performance

VNET vs. DLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Vianet Group, Inc. (VNET) and Digital Realty Trust, Inc. (DLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNET achieves a 22.10% return, which is significantly higher than DLR's 19.42% return. Over the past 10 years, VNET has underperformed DLR with an annualized return of -2.78%, while DLR has yielded a comparatively higher 10.16% annualized return.

VNET

• 1D: -4.17%
• 1M: 21.96%
• YTD: 22.10%
• 6M: 16.20%
• 1Y: 86.46%
• 3Y*: 53.25%
• 5Y*: -12.72%
• 10Y*: -2.78%

DLR

• 1D: -2.01%
• 1M: -7.56%
• YTD: 19.42%
• 6M: 16.62%
• 1Y: 8.70%
• 3Y*: 24.34%
• 5Y*: 7.01%
• 10Y*: 10.16%

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

VNET vs. DLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNET 21Vianet Group, Inc.	22.10%	78.48%	65.16%	-49.38%	-37.21%	-73.97%	378.48%	-16.09%	8.27%	13.84%
DLR Digital Realty Trust, Inc.	19.42%	-10.07%	35.90%	39.95%	-41.00%	30.66%	20.37%	16.52%	-3.00%	19.80%

Correlation

The correlation between VNET and DLR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 25, 2011	0.13

Fundamentals

EPS VNET : -$8.15 DLR : $4.53
PS Ratio VNET : 0.28 DLR : 9.44
Total Revenue (TTM) VNET : $10.34B DLR : $5.09B
Gross Profit (TTM) VNET : $2.23B DLR : $1.67B
EBITDA (TTM) VNET : $2.45B DLR : $3.18B

Return for Risk

VNET vs. DLR — Risk / Return Rank

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

VNET

VNET Risk / Return Rank: 73
VNET Sharpe Ratio Rank: 73
VNET Sortino Ratio Rank: 75
VNET Omega Ratio Rank: 69
VNET Calmar Ratio Rank: 75
VNET Martin Ratio Rank: 72

DLR

DLR Risk / Return Rank: 50
DLR Sharpe Ratio Rank: 54
DLR Sortino Ratio Rank: 47
DLR Omega Ratio Rank: 45
DLR Calmar Ratio Rank: 52
DLR Martin Ratio Rank: 54

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.

VNET vs. DLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Vianet Group, Inc. (VNET) and Digital Realty Trust, Inc. (DLR). 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.

	VNET	DLR	Difference
Sharpe ratio Return per unit of total volatility	1.08	0.39	+0.69
Sortino ratio Return per unit of downside risk	2.03	0.72	+1.31
Omega ratio Gain probability vs. loss probability	1.22	1.08	+0.14
Calmar ratio Return relative to maximum drawdown	2.00	0.52	+1.48
Martin ratio Return relative to average drawdown	4.15	1.32	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNET vs. DLR - Sharpe Ratio Comparison

The current VNET Sharpe Ratio is 1.08, which is higher than the DLR Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of VNET and DLR, 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

	VNET	DLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.39	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.25	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	0.36	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.56	-0.61

Drawdowns

VNET vs. DLR - Drawdown Comparison

The maximum VNET drawdown since its inception was -96.67%, which is greater than DLR's maximum drawdown of -56.80%. Use the drawdown chart below to compare losses from any high point for VNET and DLR.

Drawdown Indicators

	VNET	DLR	Difference
Max Drawdown Largest peak-to-trough decline	-96.67%	-56.80%	-39.87%
Max Drawdown (1Y) Largest decline over 1 year	-43.41%	-16.83%	-26.58%
Max Drawdown (3Y) Largest decline over 3 years	-67.71%	-29.40%	-38.31%
Max Drawdown (5Y) Largest decline over 5 years	-94.29%	-48.52%	-45.77%
Max Drawdown (10Y) Largest decline over 10 years	-96.67%	-48.52%	-48.15%
Current Drawdown Current decline from peak	-75.75%	-10.01%	-65.74%
Average Drawdown Average peak-to-trough decline	-60.74%	-11.14%	-49.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.89%	6.63%	+14.26%

Volatility

VNET vs. DLR - Volatility Comparison

21Vianet Group, Inc. (VNET) has a higher volatility of 29.10% compared to Digital Realty Trust, Inc. (DLR) at 6.47%. This indicates that VNET's price experiences larger fluctuations and is considered to be riskier than DLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNET	DLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.10%	6.47%	+22.63%
Volatility (6M) Calculated over the trailing 6-month period	53.73%	15.99%	+37.74%
Volatility (1Y) Calculated over the trailing 1-year period	80.28%	22.30%	+57.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.61%	28.54%	+67.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.45%	28.17%	+53.28%

Dividends

VNET vs. DLR - Dividend Comparison

VNET has not paid dividends to shareholders, while DLR's dividend yield for the trailing twelve months is around 2.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLR Digital Realty Trust, Inc.	2.66%	3.15%	2.75%	3.63%	4.87%	2.62%	3.21%	3.61%	3.79%	3.27%	3.58%	4.50%
VNET 21Vianet Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

VNET vs. DLR - Profitability Comparison

The chart below illustrates the profitability comparison between 21Vianet Group, Inc. and Digital Realty Trust, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

VNET - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, 21Vianet Group, Inc. reported a gross profit of 615.87M and revenue of 2.69B. Therefore, the gross margin over that period was 22.9%.

DLR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Digital Realty Trust, Inc. reported a gross profit of 0.00 and revenue of 303.36M. Therefore, the gross margin over that period was 0.0%.

VNET - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, 21Vianet Group, Inc. reported an operating income of 246.93M and revenue of 2.69B, resulting in an operating margin of 9.2%.

DLR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Digital Realty Trust, Inc. reported an operating income of 195.64M and revenue of 303.36M, resulting in an operating margin of 64.5%.

VNET - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, 21Vianet Group, Inc. reported a net income of -2.23B and revenue of 2.69B, resulting in a net margin of -82.8%.

DLR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Digital Realty Trust, Inc. reported a net income of -12.46M and revenue of 303.36M, resulting in a net margin of -4.1%.

Frequently Asked Questions

Can I hold both VNET and DLR in my portfolio?

VNET and DLR have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNET or DLR?

VNET has higher volatility (29.10%) compared to DLR (6.47%). In terms of maximum drawdown, VNET dropped -96.67% vs DLR's -56.80%.

Which has better risk-adjusted returns?

VNET currently has the higher Sharpe Ratio (1.08 vs 0.39), 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.