VPN vs. UUP
VPN (Global X Data Center REITs & Digital Infrastructure ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - VPN is a Technology Equities fund tracking the Solactive Data Center REITs & Digital Infrastructure Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 5 years, VPN returned 11.90%/yr vs 5.89%/yr for UUP. At a correlation of -0.32, they often move in opposite directions. VPN charges 0.50%/yr vs 0.75%/yr for UUP.
Performance
VPN vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, VPN achieves a 35.04% return, which is significantly higher than UUP's 5.44% return.
VPN
- 1D
- -2.91%
- 1M
- -8.55%
- 6M
- 21.56%
- YTD
- 35.04%
- 1Y
- 54.76%
- 3Y*
- 28.45%
- 5Y*
- 11.90%
- 10Y*
- —
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
VPN vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VPN Global X Data Center REITs & Digital Infrastructure ETF | 35.04% | 28.99% | 14.92% | 18.93% | -30.89% | 20.35% | 6.60% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -3.96% |
Correlation
The correlation between VPN and UUP is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020 | -0.32 |
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Return for Risk
VPN vs. UUP — Risk / Return Rank
VPN
UUP
VPN vs. UUP - 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 Invesco DB US Dollar Index Bullish Fund (UUP). 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 | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 2.28 | +1.99 |
| Martin ratioReturn relative to average drawdown | 11.75 | 6.26 | +5.49 |
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Drawdowns
VPN vs. UUP - Drawdown Comparison
The maximum VPN drawdown since its inception was -38.98%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for VPN and UUP.
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Drawdown Indicators
| VPN | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -22.19% | -16.79% |
Max Drawdown (1Y)Largest decline over 1 year | -12.89% | -3.65% | -9.24% |
Max Drawdown (3Y)Largest decline over 3 years | -24.96% | -10.05% | -14.91% |
Max Drawdown (5Y)Largest decline over 5 years | -38.98% | -10.37% | -28.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -12.22% | -1.26% | -10.96% |
Average DrawdownAverage peak-to-trough decline | -12.25% | -8.88% | -3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 1.33% | +3.34% |
Volatility
VPN vs. UUP - Volatility Comparison
Global X Data Center REITs & Digital Infrastructure ETF (VPN) has a higher volatility of 8.98% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that VPN's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPN | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.98% | 1.45% | +7.53% |
Volatility (6M)Calculated over the trailing 6-month period | 19.20% | 4.34% | +14.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.92% | 6.03% | +17.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.32% | 7.22% | +15.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.17% | 6.90% | +15.27% |
VPN vs. UUP - Expense Ratio Comparison
VPN has a 0.50% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
VPN vs. UUP - Dividend Comparison
VPN's dividend yield for the trailing twelve months is around 0.87%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
VPN Global X Data Center REITs & Digital Infrastructure ETF | 0.87% | 1.10% | 1.72% | 1.18% | 2.57% | 1.27% | 0.30% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VPN and UUP have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPN has higher volatility (8.98%) compared to UUP (1.45%). In terms of maximum drawdown, VPN dropped -38.98% vs UUP's -22.19%.
On 5-year performance, VPN leads with 11.90% vs 5.89% for UUP. On fees, VPN is cheaper at 0.50% per year. On volatility, UUP has been the lower-risk option at 1.45%. 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 11.90% return vs 5.89%. 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 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 0.87% for VPN.
VPN is categorized as Technology Equities, while UUP is Currency. VPN tracks Solactive Data Center REITs & Digital Infrastructure Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for VPN and 0.75% for UUP.
VPN currently has the higher Sharpe Ratio (2.31 vs 1.38), 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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