VPN vs. VNQ
VPN (Global X Data Center REITs & Digital Infrastructure ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - VPN is a Technology Equities fund tracking the Solactive Data Center REITs & Digital Infrastructure Index, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 5 years, VPN returned 15.43%/yr vs 2.52%/yr for VNQ. A 0.64 correlation means they provide meaningful diversification when combined. VPN charges 0.50%/yr vs 0.13%/yr for VNQ.
Performance
VPN vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, VPN achieves a 53.84% return, which is significantly higher than VNQ's 10.32% return.
VPN
- 1D
- 1.69%
- 1M
- 6.53%
- YTD
- 53.84%
- 6M
- 55.86%
- 1Y
- 81.04%
- 3Y*
- 36.86%
- 5Y*
- 15.43%
- 10Y*
- —
VNQ
- 1D
- 1.08%
- 1M
- -0.19%
- YTD
- 10.32%
- 6M
- 10.63%
- 1Y
- 11.80%
- 3Y*
- 10.81%
- 5Y*
- 2.52%
- 10Y*
- 5.31%
VPN vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VPN Global X Data Center REITs & Digital Infrastructure ETF | 53.84% | 28.99% | 14.92% | 18.93% | -30.89% | 20.35% | 6.60% |
VNQ Vanguard Real Estate ETF | 10.32% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | 13.43% |
Correlation
The correlation between VPN and VNQ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020 | 0.64 |
Over the past year, the correlation between VPN and VNQ has dropped to 0.32 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
VPN vs. VNQ — Risk / Return Rank
VPN
VNQ
VPN vs. VNQ - 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 Vanguard Real Estate ETF (VNQ). 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 | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.16 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 6.32 | 1.42 | +4.90 |
| Martin ratioReturn relative to average drawdown | 19.47 | 4.45 | +15.02 |
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Drawdowns
VPN vs. VNQ - Drawdown Comparison
The maximum VPN drawdown since its inception was -38.98%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for VPN and VNQ.
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Drawdown Indicators
| VPN | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -73.07% | +34.09% |
Max Drawdown (1Y)Largest decline over 1 year | -12.89% | -8.34% | -4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -24.96% | -17.46% | -7.50% |
Max Drawdown (5Y)Largest decline over 5 years | -38.98% | -34.48% | -4.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.40% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.95% | +1.95% |
Average DrawdownAverage peak-to-trough decline | -12.28% | -13.60% | +1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 2.66% | +1.52% |
Volatility
VPN vs. VNQ - Volatility Comparison
Global X Data Center REITs & Digital Infrastructure ETF (VPN) has a higher volatility of 9.19% compared to Vanguard Real Estate ETF (VNQ) at 5.03%. This indicates that VPN's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPN | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 5.03% | +4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 18.21% | 10.15% | +8.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.08% | 13.81% | +9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.11% | 18.85% | +3.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 20.75% | +1.32% |
VPN vs. VNQ - Expense Ratio Comparison
VPN has a 0.50% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Dividends
VPN vs. VNQ - Dividend Comparison
VPN's dividend yield for the trailing twelve months is around 0.71%, less than VNQ's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 3.61% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
VPN Global X Data Center REITs & Digital Infrastructure ETF | 0.71% | 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 VNQ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPN has higher volatility (9.19%) compared to VNQ (5.03%). In terms of maximum drawdown, VPN dropped -38.98% vs VNQ's -73.07%.
On 5-year performance, VPN leads with 15.43% vs 2.52% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 5.03%. 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 15.43% return vs 2.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.50% for VPN.
VNQ has the higher dividend yield at 3.61%, compared with 0.71% for VPN.
VPN is categorized as Technology Equities, while VNQ is REIT. VPN tracks Solactive Data Center REITs & Digital Infrastructure Index, while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.50% for VPN and 0.13% for VNQ.
VPN currently has the higher Sharpe Ratio (3.54 vs 0.86), 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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