FTFX.L vs. VPAC.L
FTFX.L (First Trust FactorFX UCITS ETF Class A USD) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - FTFX.L tracks the First Trust FactorFX UCITS ETF Class A USD while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, FTFX.L returned 5.92%/yr vs 3.51%/yr for VPAC.L. At a 0.12 correlation, their price movements are largely independent.
Performance
FTFX.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, FTFX.L achieves a 6.72% return, which is significantly higher than VPAC.L's 2.04% return.
FTFX.L
- 1D
- 0.81%
- 1M
- 2.12%
- 6M
- 6.59%
- YTD
- 6.72%
- 1Y
- 10.31%
- 3Y*
- 6.78%
- 5Y*
- 5.92%
- 10Y*
- —
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
FTFX.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FTFX.L First Trust FactorFX UCITS ETF Class A USD | 6.72% | 8.14% | 7.93% | 9.97% | -1.13% | -3.43% | 0.33% | 4.18% | 0.35% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 17.14% | -1.27% |
Correlation
The correlation between FTFX.L and VPAC.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.12 |
The correlation between FTFX.L and VPAC.L shifts across timeframes, from -0.02 (3 years) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FTFX.L vs. VPAC.L — Risk / Return Rank
FTFX.L
VPAC.L
FTFX.L vs. VPAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust FactorFX UCITS ETF Class A USD (FTFX.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L). 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.
| FTFX.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 2.54 | +0.76 |
| Martin ratioReturn relative to average drawdown | 10.01 | 9.98 | +0.03 |
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Drawdowns
FTFX.L vs. VPAC.L - Drawdown Comparison
The maximum FTFX.L drawdown since its inception was -8.13%, smaller than the maximum VPAC.L drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for FTFX.L and VPAC.L.
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Drawdown Indicators
| FTFX.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.13% | -34.25% | +26.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.02% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -6.92% | -3.40% | -3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -6.92% | -13.89% | +6.97% |
Current DrawdownCurrent decline from peak | 0.00% | -0.33% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -3.14% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.52% | +0.46% |
Volatility
FTFX.L vs. VPAC.L - Volatility Comparison
First Trust FactorFX UCITS ETF Class A USD (FTFX.L) has a higher volatility of 1.26% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that FTFX.L's price experiences larger fluctuations and is considered to be riskier than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTFX.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 0.74% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 2.28% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.34% | 3.17% | +3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 5.30% | +2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.18% | 11.00% | -4.82% |
Dividends
FTFX.L vs. VPAC.L - Dividend Comparison
Neither FTFX.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
FTFX.L and VPAC.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTFX.L tracks First Trust FactorFX UCITS ETF Class A USD, while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: First Trust and Invesco.
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