INVG vs. BPH

Last updated Jun 4, 2026

INVG (GMO Systematic Investment Grade Credit ETF) and BPH (BP p.l.c. ADRhedged ETF) are both exchange-traded funds - INVG is a Corporate Bonds fund actively managed by GMO, while BPH is a Oil & Gas fund actively managed by Precidian. Both are actively managed. At a correlation of -0.89, they often move in opposite directions. INVG charges 0.25%/yr vs 0.19%/yr for BPH.

Performance

INVG vs. BPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Systematic Investment Grade Credit ETF (INVG) and BP p.l.c. ADRhedged ETF (BPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

INVG

• 1D: -0.23%
• 1M: 0.73%
• YTD: 0.68%
• 6M: 0.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BPH

• 1D: 1.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

INVG vs. BPH - Yearly Performance Comparison

	2026 (YTD)
INVG GMO Systematic Investment Grade Credit ETF	0.20%
BPH BP p.l.c. ADRhedged ETF	2.83%

Correlation

The correlation between INVG and BPH is -0.89, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	-0.89

Return for Risk

INVG vs. BPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and BP p.l.c. ADRhedged ETF (BPH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INVG	BPH	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	9.48	-8.24

Drawdowns

INVG vs. BPH - Drawdown Comparison

The maximum INVG drawdown since its inception was -3.15%, which is greater than BPH's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for INVG and BPH.

Drawdown Indicators

	INVG	BPH	Difference
Max Drawdown Largest peak-to-trough decline	-3.15%	-2.35%	-0.80%
Current Drawdown Current decline from peak	-0.88%	0.00%	-0.88%
Average Drawdown Average peak-to-trough decline	-0.71%	-1.08%	+0.37%

Volatility

Volatility by Period

	INVG	BPH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	25.75%	-21.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.42%	25.75%	-21.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.42%	25.75%	-21.33%

INVG vs. BPH - Expense Ratio Comparison

INVG has a 0.25% expense ratio, which is higher than BPH's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

INVG vs. BPH - Dividend Comparison

INVG's dividend yield for the trailing twelve months is around 4.68%, while BPH has not paid dividends to shareholders.

Position	TTM	2025
BPH BP p.l.c. ADRhedged ETF	0.00%	0.00%
INVG GMO Systematic Investment Grade Credit ETF	4.68%	2.81%

Frequently Asked Questions

Can I hold both INVG and BPH in my portfolio?

INVG and BPH have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INVG or BPH?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INVG or BPH?

BPH is cheaper with a 0.19% expense ratio, compared with 0.25% for INVG.

Which ETF pays a higher dividend yield, INVG or BPH?

INVG has the higher dividend yield at 4.68%, compared with 0.00% for BPH.

What is the main difference between INVG and BPH?

INVG is categorized as Corporate Bonds, while BPH is Oil & Gas. They also come from different issuers: GMO and Precidian. Their fees differ too: 0.25% for INVG and 0.19% for BPH.