VPN.L vs. XRES.L
VPN.L (Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc) and XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) are both REIT funds - VPN.L tracks the Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc while XRES.L tracks the S&P Select Sector Capped 20% Real Estate Index. Both are passively managed. Over the past 3 years, VPN.L returned 27.82%/yr vs 8.20%/yr for XRES.L. A 0.65 correlation means they provide meaningful diversification when combined. VPN.L charges 0.50%/yr vs 0.14%/yr for XRES.L.
Performance
VPN.L vs. XRES.L - Performance Comparison
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Returns By Period
In the year-to-date period, VPN.L achieves a 32.99% return, which is significantly higher than XRES.L's 11.35% return.
VPN.L
- 1D
- -0.27%
- 1M
- -11.30%
- 6M
- 21.01%
- YTD
- 32.99%
- 1Y
- 49.85%
- 3Y*
- 27.82%
- 5Y*
- —
- 10Y*
- —
XRES.L
- 1D
- -0.18%
- 1M
- -0.72%
- 6M
- 10.15%
- YTD
- 11.35%
- 1Y
- 11.54%
- 3Y*
- 8.20%
- 5Y*
- 2.19%
- 10Y*
- 5.82%
VPN.L vs. XRES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VPN.L Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc | 32.99% | 29.31% | 13.54% | 17.68% | -30.40% | 3.62% |
XRES.L Invesco Real Estate S&P US Select Sector UCITS ETF Acc | 11.35% | 4.01% | 2.42% | 12.73% | -25.97% | 6.47% |
Correlation
The correlation between VPN.L and XRES.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2021 | 0.65 |
Over the past year, the correlation between VPN.L and XRES.L has dropped to 0.31 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.
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Return for Risk
VPN.L vs. XRES.L — Risk / Return Rank
VPN.L
XRES.L
VPN.L vs. XRES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc (VPN.L) and Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.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.
| VPN.L | XRES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.15 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 1.51 | +2.00 |
| Martin ratioReturn relative to average drawdown | 9.92 | 4.00 | +5.92 |
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Drawdowns
VPN.L vs. XRES.L - Drawdown Comparison
The maximum VPN.L drawdown since its inception was -38.80%, roughly equal to the maximum XRES.L drawdown of -37.84%. Use the drawdown chart below to compare losses from any high point for VPN.L and XRES.L.
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Drawdown Indicators
| VPN.L | XRES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -37.84% | -0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.20% | -7.59% | -6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -25.58% | -17.93% | -7.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.84% | — |
Current DrawdownCurrent decline from peak | -13.32% | -1.33% | -11.99% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -10.04% | -4.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.04% | 2.88% | +2.16% |
Volatility
VPN.L vs. XRES.L - Volatility Comparison
Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc (VPN.L) has a higher volatility of 7.54% compared to Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) at 4.73%. This indicates that VPN.L's price experiences larger fluctuations and is considered to be riskier than XRES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPN.L | XRES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 4.73% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 17.51% | 10.76% | +6.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.51% | 13.74% | +9.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.62% | 18.58% | +4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.62% | 18.88% | +3.74% |
VPN.L vs. XRES.L - Expense Ratio Comparison
VPN.L has a 0.50% expense ratio, which is higher than XRES.L's 0.14% expense ratio.
Dividends
VPN.L vs. XRES.L - Dividend Comparison
Neither VPN.L nor XRES.L has paid dividends to shareholders.
Frequently Asked Questions
VPN.L and XRES.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRES.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRES.L is cheaper with a 0.14% expense ratio, compared with 0.50% for VPN.L.
VPN.L tracks Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc, while XRES.L tracks S&P Select Sector Capped 20% Real Estate Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for VPN.L and 0.14% for XRES.L.
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