VPU vs. DNP

Last updated Jun 9, 2026

VPU (Vanguard Utilities ETF) is Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index, while DNP (DNP Select Income Fund Inc.) is a stock. Over the past 10 years, VPU returned 8.85%/yr vs 7.97%/yr for DNP. At a 0.40 correlation, their price movements are largely independent.

Performance

VPU vs. DNP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Utilities ETF (VPU) and DNP Select Income Fund Inc. (DNP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPU achieves a 2.68% return, which is significantly lower than DNP's 9.66% return. Over the past 10 years, VPU has outperformed DNP with an annualized return of 8.85%, while DNP has yielded a comparatively lower 7.97% annualized return.

VPU

• 1D: -1.87%
• 1M: -2.65%
• YTD: 2.68%
• 6M: 3.11%
• 1Y: 10.68%
• 3Y*: 12.74%
• 5Y*: 8.91%
• 10Y*: 8.85%

DNP

• 1D: -1.03%
• 1M: -0.14%
• YTD: 9.66%
• 6M: 10.26%
• 1Y: 18.20%
• 3Y*: 9.87%
• 5Y*: 8.26%
• 10Y*: 7.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VPU vs. DNP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPU Vanguard Utilities ETF	2.68%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%
DNP DNP Select Income Fund Inc.	9.66%	22.61%	13.36%	-18.56%	10.96%	14.05%	-13.67%	31.00%	3.53%	13.29%

Correlation

The correlation between VPU and DNP is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.40

The correlation between VPU and DNP shifts across timeframes, from 0.40 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VPU vs. DNP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VPU

VPU Risk / Return Rank: 23
VPU Sharpe Ratio Rank: 23
VPU Sortino Ratio Rank: 22
VPU Omega Ratio Rank: 22
VPU Calmar Ratio Rank: 27
VPU Martin Ratio Rank: 22

DNP

DNP Risk / Return Rank: 86
DNP Sharpe Ratio Rank: 88
DNP Sortino Ratio Rank: 86
DNP Omega Ratio Rank: 84
DNP Calmar Ratio Rank: 83
DNP Martin Ratio Rank: 90

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.

VPU vs. DNP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) and DNP Select Income Fund Inc. (DNP). 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.

	VPU	DNP	Difference
Sharpe ratio: Return per unit of total volatility	0.75	1.87	-1.12
Sortino ratio: Return per unit of downside risk	1.09	2.65	-1.56
Omega ratio: Gain probability vs. loss probability	1.14	1.33	-0.20
Calmar ratio: Return relative to maximum drawdown	1.20	2.85	-1.64
Martin ratio: Return relative to average drawdown	2.66	11.95	-9.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPU vs. DNP - Sharpe Ratio Comparison

The current VPU Sharpe Ratio is 0.75, which is lower than the DNP Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of VPU and DNP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VPU	DNP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	1.87	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.57	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.47	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.33	+0.20

Drawdowns

VPU vs. DNP - Drawdown Comparison

The maximum VPU drawdown since its inception was -46.31%, roughly equal to the maximum DNP drawdown of -48.49%. Use the drawdown chart below to compare losses from any high point for VPU and DNP.

Drawdown Indicators

	VPU	DNP	Difference
Max Drawdown Largest peak-to-trough decline	-46.31%	-48.49%	+2.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-6.42%	-2.48%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-18.29%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-24.31%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-36.42%	-39.56%	+3.14%
Current Drawdown Current decline from peak	-7.71%	-1.89%	-5.82%
Average Drawdown Average peak-to-trough decline	-7.78%	-8.52%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	1.53%	+2.49%

Volatility

VPU vs. DNP - Volatility Comparison

Vanguard Utilities ETF (VPU) has a higher volatility of 5.56% compared to DNP Select Income Fund Inc. (DNP) at 3.19%. This indicates that VPU's price experiences larger fluctuations and is considered to be riskier than DNP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPU	DNP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	3.19%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	7.85%	+3.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	9.79%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	14.52%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	17.13%	+2.01%

Dividends

VPU vs. DNP - Dividend Comparison

VPU's dividend yield for the trailing twelve months is around 2.70%, less than DNP's 7.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNP DNP Select Income Fund Inc.	7.34%	7.81%	8.84%	9.20%	6.93%	7.18%	7.60%	6.11%	7.50%	7.22%	7.62%	8.71%
VPU Vanguard Utilities ETF	2.70%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both VPU and DNP in my portfolio?

VPU and DNP have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPU or DNP?

VPU has higher volatility (5.56%) compared to DNP (3.19%). In terms of maximum drawdown, VPU dropped -46.31% vs DNP's -48.49%.

Which has better risk-adjusted returns?

DNP currently has the higher Sharpe Ratio (1.87 vs 0.75), 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.