VPN
Global X Data Center REITs & Digital Infrastructure ETF
VPN invests in companies that operate data center REITs and other digital infrastructure supporting the growth of communication networks.
Fund Basics
| Fund sponsor | Global X |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 29, 2020 |
| Assets (mns) | $30 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EQUINIX INC | 13.3 % |
| AMERICAN TOWER CORP-CL A | 10.4 % |
| CROWN CASTLE INTL CORP | 9.6 % |
| SBA COMMUNICATIONS CORP. CLASS A | 7.0 % |
| NEXTDC LIMITED | 6.9 % |
| NVIDIA CORP | 4.9 % |
| CHINA TOWER CORP. LTD. CLASS H | 4.8 % |
| DIGITAL REALTY TRUST INC | 4.7 % |
| KEPPEL DC REIT | 3.9 % |
| DIGITALBRIDGE GROUP, INC. CLASS A | 3.7 % |
Constituent Breakdown
| Number of holdings | 24 |
| Herfindahl-Hirschman Index | 645 |
| Wgt avg mkt cap (mns) | $97,188 |
| Large cap (>$10bn) | 66.6% |
| Mid cap ($2-10bn) | 18.0% |
| Small cap (<$2bn) | 9.3% |
| Developed mkts. | 85.5% |
| Emerging mkts. | 14.5% |
Country Exposure
 |
UNITED STATES | 69.4 % |
 |
CHINA | 7.7 % |
 |
TAIWAN | 7.4 % |
 |
AUSTRALIA | 6.9 % |
 |
INDONESIA | 4.3 % |
 |
SINGAPORE | 3.9 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 3.4% | -16.2% | -9.6% | -- | -- | -- | -2.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.91 | 61% |
| MSCI EAFE | 0.82 | 53% |
| MSCI Emg Mkts | 0.89 | 58% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.76% |
| ADV of underlying (mns) | $24,040 |
Technical Indicators
| Recent close | $13.26 |
| 30d moving avg. | $12.80 |
| Annualized volatility | 21.4% |
| Relative strength (RSI) | 57 |
| Short interest (ETF) | 1.3% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. VPN |
Expenses vs. VPN |
ALTAR Score™ vs. VPN |
|---|---|---|---|---|
| SRVR | Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF | 48.2% | +10 bp | +1.6% |
| DTRE | Alerian Disruptive Technology Real Estate ETF | 36.0% | +10 bp | +2.5% |
| ICF | iShares Cohen & Steers REIT ETF | 30.6% | -18 bp | +1.4% |
| BYTE | Roundhill IO Digital Infrastructure ETF | 30.6% | +26 bp | -0.2% |
| XLRE | The Real Estate Select Sector SPDR Fund | 30.4% | -40 bp | +1.5% |
| WTRE | WisdomTree New Economy Real Estate Fund | 28.3% | +8 bp | -0.2% |
| FPRO | Fidelity Real Estate Investment ETF | 26.5% | +9 bp | +0.4% |
| ROOF | IQ US Real Estate Small Cap ETF | 25.7% | +10 bp | -0.6% |
| PSR | Invesco Active U.S. Real Estate Fund | 24.9% | -15 bp | +1.4% |
| JPRE | JPMorgan Realty Income ETF | 24.6% | 0 bp | +1.1% |
Risk and Returns: VPN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/8/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
VPN
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
VPN
5.2%
Cat. Avg
3.9%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.2% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 344 funds in the Global Equities category, with an average ALTAR Score™
of 3.9% and a standard deviation of
5.0%. VPN's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places VPN in the 60th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VPN
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
Trading data provided for free by IEX. By accessing this data you agree to abide by their Terms of Service.
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VPN | 50.0 | 76.2 | 126.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .