- Issuer
- Invesco
- Inception Date
- Dec 10, 2018
- Category
- Global Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Invesco Variable Rate Preferred Shares UCITS ETF USD
- Distribution Policy
- Accumulating
- Asset Class
- Equity
Share Price Chart
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Performance
VPAC.L Performance Chart
Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) is up 2.0% since the beginning of the year. VPAC.L is currently trading at $60 per share. Investors who bought $1,000 worth of VPAC.L shares 5 years ago would now be looking at an investment worth $1,188.
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Returns By Period
Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) has returned 2.04% so far this year and 5.32% over the past 12 months.
Invesco Variable Rate Preferred Shares UCITS ETF USD
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.38%
- 1M
- 0.24%
- 6M
- 9.32%
- YTD
- 10.62%
- 1Y
- 21.28%
- 3Y*
- 18.90%
- 5Y*
- 11.84%
- 10Y*
- 13.36%
VPAC.L Monthly Returns History
Based on dividend-adjusted daily data since Dec 10, 2018, VPAC.L's average daily return is +0.02%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +9.3%, while the worst month was Mar 2020 at -14.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, VPAC.L closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +10.5%, while the worst single day was Mar 12, 2020 at -13.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.56% | 0.61% | -1.68% | 1.72% | 0.61% | 0.30% | -0.08% | 2.04% | |||||
| 2025 | 0.87% | 0.34% | -0.32% | -0.94% | 1.37% | 1.31% | 0.76% | 0.49% | 1.54% | 0.22% | -0.09% | 0.62% | 6.34% |
| 2024 | 2.28% | 0.53% | 1.43% | -1.14% | 2.07% | 0.69% | 0.69% | 1.25% | 1.55% | -0.11% | 1.05% | 0.09% | 10.84% |
| 2023 | 5.73% | -1.04% | -4.04% | 1.06% | -0.66% | 1.36% | 2.58% | -0.50% | -0.34% | -2.46% | 4.81% | 2.84% | 9.27% |
| 2022 | -1.84% | -2.44% | -0.37% | -2.70% | -2.12% | -3.37% | 4.22% | -0.19% | -3.23% | -0.73% | 2.25% | 0.65% | -9.70% |
| 2021 | -0.08% | -0.63% | 1.18% | 1.21% | 0.60% | 0.84% | 0.72% | 0.27% | 0.05% | -0.35% | -1.30% | 1.12% | 3.64% |
Benchmark Metrics
Invesco Variable Rate Preferred Shares UCITS ETF USD has an annualized alpha of 2.19%, beta of 0.28, and R2 of 0.25 versus S&P 500 Index. Calculated based on daily prices since December 10, 2018.
- This ETF participated in 35.11% of S&P 500 Index downside but only 30.67% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.28 may look defensive, but with R2 of 0.25 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.25 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.19%
- Beta
- 0.28
- R²
- 0.25
- Upside Capture
- 30.67%
- Downside Capture
- 35.11%
Expense Ratio
VPAC.L has an expense ratio of 0.50%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VPAC.L ranks 65 for risk / return — better than 65% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) and compare them to S&P 500 Index.
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.
| VPAC.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.35 | +0.19 |
| Martin ratioReturn relative to average drawdown | 9.98 | 10.19 | -0.21 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco Variable Rate Preferred Shares UCITS ETF USD. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco Variable Rate Preferred Shares UCITS ETF USD was 34.25%, occurring on Mar 23, 2020. Recovery took 171 trading sessions.
The current Invesco Variable Rate Preferred Shares UCITS ETF USD drawdown is 0.33%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-34.25%Mar 2020 | 1mo 4d | 8mo 6d | 9mo 10dFeb 2020 - Nov 2020 | COVID crash2020 |
-13.89%Oct 2022 | 1y 28d | 1y 4mo | 2y 5moSep 2021 - Feb 2024 | Bear market2022 |
-3.40%Apr 2025 | 1mo 8d | 1mo 3d | 2mo 11dMar 2025 - May 2025 | 2025 selloff2025 |
-2.02%Mar 2026 | 1mo | 1mo 12d | 2mo 12dFeb 2026 - May 2026 | — |
-1.58%Jan 2025 | 25d | 17d | 1mo 12dDec 2024 - Jan 2025 | — |
Drawdown Indicators
| VPAC.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -56.78% | +22.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -9.10% | +7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -3.40% | -18.90% | +15.50% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -25.43% | +11.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.49% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -10.70% | +7.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.09% | -1.57% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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