GPRF vs. VRP
GPRF (Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF) and VRP (Invesco Variable Rate Preferred ETF) are both Preferred Stock funds - GPRF tracks the FTSE Goldman Sachs US Preferred Stock and Hybrids Index while VRP tracks the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. Both are passively managed. Over the past year, GPRF returned 4.03% vs 5.26% for VRP. Their 0.55 correlation means they have sometimes moved together and sometimes differently. GPRF charges 0.45%/yr vs 0.50%/yr for VRP.
Performance
GPRF vs. VRP - Performance Comparison
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Returns By Period
In the year-to-date period, GPRF achieves a 1.40% return, which is significantly lower than VRP's 2.15% return.
GPRF
- 1D
- 0.45%
- 1M
- -0.24%
- 6M
- 0.31%
- YTD
- 1.40%
- 1Y
- 4.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.03%
VRP
- 1D
- 0.17%
- 1M
- -0.58%
- 6M
- 1.18%
- YTD
- 2.15%
- 1Y
- 5.26%
- 3Y*
- 8.62%
- 5Y*
- 4.08%
- 10Y*
- 4.84%
- ALL TIME*
- 5.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $179.35K | $1.44M | $844.22K | |
| $14.00M | $13.29M | $17.14M |
GPRF vs. VRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF | 1.40% | 6.17% | 2.49% |
VRP Invesco Variable Rate Preferred ETF | 2.15% | 7.34% | 3.32% |
Correlation
The correlation between GPRF and VRP is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024 | 0.55 |
The correlation between GPRF and VRP has been stable across timeframes, ranging from 0.55 to 0.55 - a consistent structural relationship.
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Return for Risk
GPRF vs. VRP — Risk / Return Rank
GPRF
VRP
GPRF vs. VRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and Invesco Variable Rate Preferred ETF (VRP). 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.
| GPRF | VRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.83 | -0.86 |
| Martin ratioReturn relative to average drawdown | 4.33 | 9.49 | -5.16 |
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Drawdowns
GPRF vs. VRP - Drawdown Comparison
The maximum GPRF drawdown since its inception was -4.36%, smaller than the maximum VRP drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for GPRF and VRP.
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Drawdown Indicators
| GPRF | VRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.36% | -46.04% | +41.68% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -2.89% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.26% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | -0.71% | -0.62% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -2.28% | +1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.56% | +0.37% |
Volatility
GPRF vs. VRP - Volatility Comparison
Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) has a higher volatility of 0.94% compared to Invesco Variable Rate Preferred ETF (VRP) at 0.64%. This indicates that GPRF's price experiences larger fluctuations and is considered to be riskier than VRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPRF | VRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 0.64% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 2.39% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 2.94% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 6.55% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.86% | 14.53% | -10.67% |
GPRF vs. VRP - Expense Ratio Comparison
GPRF has a 0.45% expense ratio, which is lower than VRP's 0.50% expense ratio.
Dividends
GPRF vs. VRP - Dividend Comparison
GPRF's dividend yield for the trailing twelve months is around 5.66%, less than VRP's 6.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF | 5.66% | 5.38% | 2.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRP Invesco Variable Rate Preferred ETF | 6.18% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Frequently Asked Questions
GPRF and VRP have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GPRF has higher volatility (0.94%) compared to VRP (0.64%). In terms of maximum drawdown, GPRF dropped -4.36% vs VRP's -46.04%.
On 1-year performance, VRP leads with 5.26% vs 4.03% for GPRF. On fees, GPRF is cheaper at 0.45% per year. On volatility, VRP has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VRP has performed better with a 5.26% return vs 4.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GPRF is cheaper with a 0.45% expense ratio, compared with 0.50% for VRP.
VRP has the higher dividend yield at 6.18%, compared with 5.66% for GPRF.
GPRF tracks FTSE Goldman Sachs US Preferred Stock and Hybrids Index, while VRP tracks Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.45% for GPRF and 0.50% for VRP.
VRP currently has the higher Sharpe Ratio (1.80 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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