- ISIN
- US46090A8797
- CUSIP
- 46090A879
- Issuer
- Invesco
- Inception Date
- Sep 20, 2016
- Region
- North America (United States)
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $2B
Share Price Chart
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Performance
VRIG Performance Chart
Invesco Variable Rate Investment Grade ETF (VRIG) is up 2.1% since the beginning of the year. VRIG is currently trading at $25 per share. Investors who bought $1,000 worth of VRIG shares 5 years ago would now be looking at an investment worth $1,244.
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Returns By Period
Invesco Variable Rate Investment Grade ETF (VRIG) has returned 2.06% so far this year and 4.92% over the past 12 months.
Invesco Variable Rate Investment Grade ETF
- 1D
- 0.05%
- 1M
- 0.39%
- YTD
- 2.06%
- 6M
- 2.22%
- 1Y
- 4.92%
- 3Y*
- 5.92%
- 5Y*
- 4.47%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VRIG Monthly Returns History
Based on dividend-adjusted daily data since Sep 22, 2016, VRIG's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.
Historically, 86% of months were positive and 14% were negative. The best month was Apr 2020 with a return of +4.3%, while the worst month was Mar 2020 at -8.5%. The longest winning streak lasted 39 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VRIG closed higher 51% of trading days. The best single day was Mar 13, 2020 with a return of +3.2%, while the worst single day was Mar 12, 2020 at -6.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.48% | 0.35% | 0.07% | 0.43% | 0.43% | 0.29% | 2.06% | ||||||
| 2025 | 0.44% | 0.46% | 0.23% | 0.01% | 0.64% | 0.49% | 0.56% | 0.47% | 0.43% | 0.34% | 0.38% | 0.48% | 5.05% |
| 2024 | 0.80% | 0.56% | 0.60% | 0.58% | 0.75% | 0.41% | 0.43% | 0.46% | 0.41% | 0.52% | 0.54% | 0.55% | 6.81% |
| 2023 | 1.10% | 0.72% | -0.47% | 0.93% | 0.70% | 0.54% | 0.76% | 0.64% | 0.39% | 0.39% | 0.58% | 0.86% | 7.37% |
| 2022 | 0.10% | -0.31% | -0.17% | 0.06% | -0.55% | -0.32% | 0.45% | 0.55% | -0.44% | 0.08% | 0.58% | 0.95% | 0.99% |
| 2021 | 0.48% | 0.11% | -0.05% | 0.11% | 0.13% | 0.06% | 0.08% | 0.06% | 0.12% | -0.04% | -0.10% | 0.10% | 1.06% |
Benchmark Metrics
Invesco Variable Rate Investment Grade ETF has an annualized alpha of 2.62%, beta of 0.06, and R2 of 0.09 versus S&P 500 Index. Calculated based on daily prices since September 22, 2016.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (10.36%) than losses (1.20%) - typical of diversified or defensive assets.
- Beta of 0.06 may look defensive, but with R2 of 0.09 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 0.09 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
- 2.62%
- Beta
- 0.06
- R²
- 0.09
- Upside Capture
- 10.36%
- Downside Capture
- 1.20%
Expense Ratio
VRIG has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VRIG ranks 99 for risk / return — in the top 99% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) 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.
| VRIG | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.08 | ||
| Sortino ratioReturn per unit of downside risk | +21.47 | ||
| Omega ratioGain probability vs. loss probability | 5.32 | 1.37 | +3.95 |
| Calmar ratioReturn relative to maximum drawdown | 61.80 | 2.78 | +59.01 |
| Martin ratioReturn relative to average drawdown | 315.78 | 12.44 | +303.34 |
Dividends
Dividend History
Invesco Variable Rate Investment Grade ETF provided a 5.17% dividend yield over the last twelve months, with an annual payout of $1.29 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.29 | $1.25 | $1.53 | $1.49 | $0.59 | $0.19 | $0.39 | $0.78 | $0.71 | $0.58 | $0.15 |
Dividend yield | 5.17% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco Variable Rate Investment Grade ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.10 | $0.10 | $0.09 | $0.09 | $0.09 | $0.09 | $0.56 | ||||||
| 2025 | $0.11 | $0.10 | $0.10 | $0.09 | $0.11 | $0.11 | $0.11 | $0.11 | $0.10 | $0.10 | $0.10 | $0.10 | $1.25 |
| 2024 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.12 | $0.13 | $0.13 | $0.13 | $0.12 | $0.12 | $0.13 | $1.53 |
| 2023 | $0.10 | $0.11 | $0.11 | $0.12 | $0.12 | $0.12 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.15 | $1.49 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.03 | $0.04 | $0.06 | $0.07 | $0.09 | $0.09 | $0.12 | $0.59 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.19 |
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 Investment Grade ETF. 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 Investment Grade ETF was 13.04%, occurring on Mar 26, 2020. Recovery took 103 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -13.04%Mar 2020 | 1mo 5d | 4mo 28d | 6mo 3dFeb 2020 - Aug 2020 |
Bear market2022 | -2.28%Jun 2022 | 4mo 23d | 3mo 8d | 8mo 1dJan 2022 - Sep 2022 |
2023 pullback2023 | -1.40%Mar 2023 | 3d | 1mo 6d | 1mo 9dMar 2023 - Apr 2023 |
Rate-hike selloffLate 2018 | -1.38%Dec 2018 | 1mo 6d | 2mo 1d | 3mo 7dNov 2018 - Feb 2019 |
2025 selloff2025 | -0.78%Apr 2025 | 4d | 22d | 26dApr 2025 - Apr 2025 |
Drawdown Indicators
| VRIG | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -56.78% | +43.74% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -9.10% | +9.02% |
Max Drawdown (3Y)Largest decline over 3 years | -0.78% | -18.90% | +18.12% |
Max Drawdown (5Y)Largest decline over 5 years | -2.28% | -25.43% | +23.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -10.71% | +10.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 2.03% | -2.01% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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