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VPN vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VPN vs. QYLD

Last updated Jun 24, 2026

VPN (Global X Data Center REITs & Digital Infrastructure ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - VPN is a Technology Equities fund tracking the Solactive Data Center REITs & Digital Infrastructure Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 5 years, VPN returned 14.82%/yr vs 8.26%/yr for QYLD. A 0.61 correlation means they provide meaningful diversification when combined. VPN charges 0.50%/yr vs 0.60%/yr for QYLD.

Performance

VPN vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Data Center REITs & Digital Infrastructure ETF (VPN) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VPN achieves a 49.19% return, which is significantly higher than QYLD's 7.89% return.

VPN

1D
-3.02%
1M
3.31%
YTD
49.19%
6M
51.34%
1Y
73.85%
3Y*
35.46%
5Y*
14.82%
10Y*
—

QYLD

1D
-1.97%
1M
1.41%
YTD
7.89%
6M
7.59%
1Y
22.55%
3Y*
13.99%
5Y*
8.26%
10Y*
9.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VPN vs. QYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
VPN
Global X Data Center REITs & Digital Infrastructure ETF		49.19%28.99%14.92%18.93%-30.89%20.35%6.60%
QYLD
Global X NASDAQ 100 Covered Call ETF		7.89%9.28%19.35%22.77%-19.08%10.41%12.16%

Correlation

The correlation between VPN and QYLD 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

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2020

0.61

The correlation between VPN and QYLD has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

VPN vs. QYLD - Sectors Allocation Comparison

Sectors
VPN
QYLD

Real Estate

58.0%
0.1%

Technology

30.6%
58.7%

Communication Services

10.5%
14.3%

Financial Services

0.9%
0.2%

Basic Materials

-

1.0%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Healthcare

-

3.7%

Industrials

-

2.6%

Utilities

-

1.2%

Real Estate

VPN
58.0%
QYLD
0.1%

Technology

VPN
30.6%
QYLD
58.7%

Communication Services

VPN
10.5%
QYLD
14.3%

Financial Services

VPN
0.9%
QYLD
0.2%

Basic Materials

VPN

-

QYLD
1.0%

Consumer Cyclical

VPN

-

QYLD
11.4%

Consumer Defensive

VPN

-

QYLD
6.4%

Energy

VPN

-

QYLD
0.5%

Healthcare

VPN

-

QYLD
3.7%

Industrials

VPN

-

QYLD
2.6%

Utilities

VPN

-

QYLD
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Data Center REITs & Digital Infrastructure ETF

Global X NASDAQ 100 Covered Call ETF

Often compared with VPN:
VPN vs. DTCRVPN vs. EQIXVPN vs. DLRVPN vs. IDGTVPN vs. VOOVPN vs. IGPTVPN vs. SRVR
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLG

Return for Risk

VPN vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VPN
VPN Risk / Return Rank: 8989
Overall Rank
VPN Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
VPN Sortino Ratio Rank: 8989
Sortino Ratio Rank
VPN Omega Ratio Rank: 8787
Omega Ratio Rank
VPN Calmar Ratio Rank: 9292
Calmar Ratio Rank
VPN Martin Ratio Rank: 8787
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 8484
Overall Rank
QYLD Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 7777
Sortino Ratio Rank
QYLD Omega Ratio Rank: 8787
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8585
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9494
Martin Ratio Rank
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.

VPN vs. QYLD - 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 Global X NASDAQ 100 Covered Call ETF (QYLD). 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.

VPNQYLDDifference
Sharpe ratioReturn per unit of total volatility
3.19
2.34

+0.85

Sortino ratioReturn per unit of downside risk
3.84
3.28

+0.56

Omega ratioGain probability vs. loss probability

1.51

1.52

-0.01

Calmar ratioReturn relative to maximum drawdown

5.76

4.56

+1.20

Martin ratioReturn relative to average drawdown

17.72

25.38

-7.66

VPN vs. QYLD - Sharpe Ratio Comparison

The current VPN Sharpe Ratio is 3.19, which is higher than the QYLD Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of VPN and QYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VPN vs. QYLD - Drawdown Comparison

The maximum VPN drawdown since its inception was -38.98%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for VPN and QYLD.

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Drawdown Indicators

VPNQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-38.98%

-24.75%

-14.23%

Max Drawdown (1Y)

Largest decline over 1 year

-12.89%

-4.97%

-7.92%

Max Drawdown (3Y)

Largest decline over 3 years

-24.96%

-19.06%

-5.90%

Max Drawdown (5Y)

Largest decline over 5 years

-38.98%

-24.61%

-14.37%

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.75%

—

Current Drawdown

Current decline from peak

-3.02%

-2.10%

-0.92%

Average Drawdown

Average peak-to-trough decline

-12.28%

-3.82%

-8.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.18%

0.89%

+3.29%

Volatility

VPN vs. QYLD - Volatility Comparison

Global X Data Center REITs & Digital Infrastructure ETF (VPN) has a higher volatility of 9.71% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 4.78%. This indicates that VPN's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VPNQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.71%

4.78%

+4.93%

Volatility (6M)

Calculated over the trailing 6-month period

18.51%

8.50%

+10.01%

Volatility (1Y)

Calculated over the trailing 1-year period

23.26%

9.70%

+13.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.15%

14.84%

+7.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.10%

15.56%

+6.54%

VPN vs. QYLD - Expense Ratio Comparison

VPN has a 0.50% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

VPN vs. QYLD - Dividend Comparison

VPN's dividend yield for the trailing twelve months is around 0.74%, less than QYLD's 11.68% yield.

PositionTTM20252024202320222021202020192018201720162015
QYLD
Global X NASDAQ 100 Covered Call ETF		11.68%11.55%12.50%11.78%13.75%12.85%11.16%9.84%12.44%7.69%9.15%9.42%
VPN
Global X Data Center REITs & Digital Infrastructure ETF		0.74%1.10%1.72%1.18%2.57%1.27%0.30%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VPN and QYLD 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.

VPN has higher volatility (9.71%) compared to QYLD (4.78%). In terms of maximum drawdown, VPN dropped -38.98% vs QYLD's -24.75%.

On 5-year performance, VPN leads with 14.82% vs 8.26% for QYLD. On fees, VPN is cheaper at 0.50% per year. On volatility, QYLD has been the lower-risk option at 4.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, VPN has performed better with a 14.82% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPN is cheaper with a 0.50% expense ratio, compared with 0.60% for QYLD.

QYLD has the higher dividend yield at 11.68%, compared with 0.74% for VPN.

VPN is categorized as Technology Equities, while QYLD is Nasdaq-100. VPN tracks Solactive Data Center REITs & Digital Infrastructure Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.50% for VPN and 0.60% for QYLD.

VPN currently has the higher Sharpe Ratio (3.19 vs 2.34), 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.

Portfolio Optimizer

Find the right allocation for VPN and QYLD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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