FXGB.L vs. VPAC.L
FXGB.L (First Trust FactorFX UCITS ETF Class B GBP) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - FXGB.L tracks the First Trust FactorFX UCITS ETF Class B GBP while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, FXGB.L returned 5.06%/yr vs 4.29%/yr for VPAC.L. At a correlation of -0.06, they often move in opposite directions.
Performance
FXGB.L vs. VPAC.L - Performance Comparison
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Different Trading Currencies
FXGB.L is traded in GBp, while VPAC.L is traded in USD. To make them comparable, the VPAC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FXGB.L achieves a 6.36% return, which is significantly higher than VPAC.L's 3.01% return.
FXGB.L
- 1D
- 1.17%
- 1M
- 1.83%
- 6M
- 6.32%
- YTD
- 6.36%
- 1Y
- 11.05%
- 3Y*
- 6.35%
- 5Y*
- 5.06%
- 10Y*
- —
VPAC.L
- 1D
- 0.27%
- 1M
- 0.51%
- 6M
- 2.59%
- YTD
- 3.01%
- 1Y
- 5.62%
- 3Y*
- 7.72%
- 5Y*
- 4.29%
- 10Y*
- —
FXGB.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FXGB.L First Trust FactorFX UCITS ETF Class B GBP | 6.36% | 7.73% | 5.81% | 10.67% | -1.83% | -2.87% | -1.20% | 2.63% | 0.22% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 3.01% | -1.24% | 12.77% | 3.80% | 1.04% | 4.62% | 1.73% | 12.68% | -2.79% |
Correlation
The correlation between FXGB.L and VPAC.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | -0.06 |
The correlation between FXGB.L and VPAC.L shifts across timeframes, from -0.06 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXGB.L vs. VPAC.L — Risk / Return Rank
FXGB.L
VPAC.L
FXGB.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 B GBP (FXGB.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.
| FXGB.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 1.27 | +1.27 |
| Martin ratioReturn relative to average drawdown | 7.10 | 3.30 | +3.79 |
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Drawdowns
FXGB.L vs. VPAC.L - Drawdown Comparison
The maximum FXGB.L drawdown since its inception was -9.43%, smaller than the maximum VPAC.L drawdown of -26.87%. Use the drawdown chart below to compare losses from any high point for FXGB.L and VPAC.L.
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Drawdown Indicators
| FXGB.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.43% | -26.87% | +17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -4.94% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -9.34% | +2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -7.83% | -15.98% | +8.15% |
Current DrawdownCurrent decline from peak | -0.01% | -1.48% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -4.54% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.90% | -0.35% |
Volatility
FXGB.L vs. VPAC.L - Volatility Comparison
First Trust FactorFX UCITS ETF Class B GBP (FXGB.L) has a higher volatility of 2.78% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 1.91%. This indicates that FXGB.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
| FXGB.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 1.91% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 8.42% | 5.14% | +3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.11% | 6.72% | +4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 8.70% | -0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.76% | 12.35% | -5.59% |
Dividends
FXGB.L vs. VPAC.L - Dividend Comparison
Neither FXGB.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
FXGB.L and VPAC.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXGB.L tracks First Trust FactorFX UCITS ETF Class B GBP, 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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