VPN vs. IBIT
VPN (Global X Data Center REITs & Digital Infrastructure ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - VPN is a Technology Equities fund tracking the Solactive Data Center REITs & Digital Infrastructure Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, VPN returned 78.03% vs -39.29% for IBIT. At a 0.38 correlation, their price movements are largely independent. VPN charges 0.50%/yr vs 0.25%/yr for IBIT.
Performance
VPN vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, VPN achieves a 51.28% return, which is significantly higher than IBIT's -28.26% return.
VPN
- 1D
- 1.85%
- 1M
- 4.48%
- YTD
- 51.28%
- 6M
- 54.75%
- 1Y
- 78.03%
- 3Y*
- 34.37%
- 5Y*
- 14.89%
- 10Y*
- —
IBIT
- 1D
- -2.04%
- 1M
- -19.05%
- YTD
- -28.26%
- 6M
- -28.63%
- 1Y
- -39.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VPN vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VPN Global X Data Center REITs & Digital Infrastructure ETF | 51.28% | 28.99% | 17.48% |
IBIT iShares Bitcoin Trust ETF | -28.26% | -6.41% | 89.87% |
Correlation
The correlation between VPN and IBIT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.38 |
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Return for Risk
VPN vs. IBIT — Risk / Return Rank
VPN
IBIT
VPN vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Data Center REITs & Digital Infrastructure ETF (VPN) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.29 | ||
| Sortino ratioReturn per unit of downside risk | +5.31 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 0.86 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 6.05 | -0.76 | +6.81 |
| Martin ratioReturn relative to average drawdown | 18.62 | -1.31 | +19.93 |
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Drawdowns
VPN vs. IBIT - Drawdown Comparison
The maximum VPN drawdown since its inception was -38.98%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for VPN and IBIT.
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Drawdown Indicators
| VPN | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -52.11% | +13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -12.89% | -52.11% | +39.22% |
Max Drawdown (3Y)Largest decline over 3 years | -24.96% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -38.98% | — | — |
Current DrawdownCurrent decline from peak | -1.57% | -50.04% | +48.47% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -16.74% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 30.26% | -26.08% |
Volatility
VPN vs. IBIT - Volatility Comparison
The current volatility for Global X Data Center REITs & Digital Infrastructure ETF (VPN) is 9.23%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.71%. This indicates that VPN experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPN | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.23% | 12.71% | -3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 18.31% | 34.47% | -16.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.99% | 44.13% | -21.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.09% | 50.23% | -28.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 50.23% | -28.16% |
VPN vs. IBIT - Expense Ratio Comparison
VPN has a 0.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
VPN vs. IBIT - Dividend Comparison
VPN's dividend yield for the trailing twelve months is around 0.73%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VPN Global X Data Center REITs & Digital Infrastructure ETF | 0.73% | 1.10% | 1.72% | 1.18% | 2.57% | 1.27% | 0.30% |
Frequently Asked Questions
VPN and IBIT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.71%) compared to VPN (9.23%). In terms of maximum drawdown, VPN dropped -38.98% vs IBIT's -52.11%.
On 1-year performance, VPN leads with 78.03% vs -39.29% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, VPN has been the lower-risk option at 9.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VPN has performed better with a 78.03% return vs -39.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.50% for VPN.
VPN has the higher dividend yield at 0.73%, compared with 0.00% for IBIT.
VPN is categorized as Technology Equities, while IBIT is Cryptocurrency. VPN tracks Solactive Data Center REITs & Digital Infrastructure Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for VPN and 0.25% for IBIT.
VPN currently has the higher Sharpe Ratio (3.39 vs -0.90), 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.
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