IVLU vs. VRIG

Last updated Jun 9, 2026

IVLU (iShares MSCI Intl Value Factor ETF) and VRIG (Invesco Variable Rate Investment Grade ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value, while VRIG is a Ultrashort Bond fund actively managed by Invesco. IVLU is passively managed, while VRIG is actively managed. Over the past 5 years, IVLU returned 13.74%/yr vs 4.44%/yr for VRIG. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.

Performance

IVLU vs. VRIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Value Factor ETF (IVLU) and Invesco Variable Rate Investment Grade ETF (VRIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVLU achieves a 10.99% return, which is significantly higher than VRIG's 1.87% return.

IVLU

• 1D: 0.45%
• 1M: 0.05%
• YTD: 10.99%
• 6M: 14.55%
• 1Y: 32.63%
• 3Y*: 23.34%
• 5Y*: 13.74%
• 10Y*: 11.09%

VRIG

• 1D: 0.04%
• 1M: 0.39%
• YTD: 1.87%
• 6M: 2.24%
• 1Y: 4.97%
• 3Y*: 5.96%
• 5Y*: 4.44%
• 10Y*: —

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

IVLU vs. VRIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVLU iShares MSCI Intl Value Factor ETF	10.99%	46.09%	6.76%	20.07%	-5.73%	15.60%	-4.50%	15.60%	-15.10%	23.10%
VRIG Invesco Variable Rate Investment Grade ETF	1.87%	5.05%	6.81%	7.37%	0.99%	1.06%	1.76%	4.57%	0.51%	3.20%

Correlation

The correlation between IVLU and VRIG is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 23, 2016	0.12

IVLU vs. VRIG - Sectors Allocation Comparison

Sectors	IVLU	VRIG
Financial Services	25.3%	23.3%
Industrials	17.2%	0.0%
Technology	11.3%	0.4%
Healthcare	9.7%	-
Basic Materials	7.5%	0.8%
Consumer Cyclical	7.4%	3.0%
Consumer Defensive	6.3%	0.7%
Energy	5.1%	-
Communication Services	4.0%	-
Utilities	3.3%	0.1%
Real Estate	1.5%	0.3%

Return for Risk

IVLU vs. VRIG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IVLU

IVLU Risk / Return Rank: 69
IVLU Sharpe Ratio Rank: 73
IVLU Sortino Ratio Rank: 72
IVLU Omega Ratio Rank: 72
IVLU Calmar Ratio Rank: 62
IVLU Martin Ratio Rank: 64

VRIG

VRIG Risk / Return Rank: 99
VRIG Sharpe Ratio Rank: 99
VRIG Sortino Ratio Rank: 99
VRIG Omega Ratio Rank: 99
VRIG Calmar Ratio Rank: 99
VRIG Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IVLU vs. VRIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Value Factor ETF (IVLU) and Invesco Variable Rate Investment Grade ETF (VRIG). 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.

	IVLU	VRIG	Difference
Sharpe ratio: Return per unit of total volatility	2.14	10.08	-7.94
Sortino ratio: Return per unit of downside risk	2.92	24.37	-21.44
Omega ratio: Gain probability vs. loss probability	1.38	5.29	-3.90
Calmar ratio: Return relative to maximum drawdown	2.80	62.49	-59.68
Martin ratio: Return relative to average drawdown	10.66	318.26	-307.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVLU vs. VRIG - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.14, which is lower than the VRIG Sharpe Ratio of 10.08. The chart below compares the historical Sharpe Ratios of IVLU and VRIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVLU	VRIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	10.08	-7.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	3.46	-2.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.91	-0.45

Drawdowns

IVLU vs. VRIG - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, which is greater than VRIG's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for IVLU and VRIG.

Drawdown Indicators

	IVLU	VRIG	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-13.04%	-28.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-0.08%	-11.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.48%	-0.78%	-14.70%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-2.28%	-23.76%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	—	—
Current Drawdown Current decline from peak	-2.27%	0.00%	-2.27%
Average Drawdown Average peak-to-trough decline	-8.59%	-0.27%	-8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	0.02%	+3.05%

Volatility

IVLU vs. VRIG - Volatility Comparison

iShares MSCI Intl Value Factor ETF (IVLU) has a higher volatility of 4.47% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.11%. This indicates that IVLU's price experiences larger fluctuations and is considered to be riskier than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVLU	VRIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	0.11%	+4.36%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	0.36%	+12.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	0.50%	+14.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	1.29%	+15.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	3.80%	+13.87%

IVLU vs. VRIG - Expense Ratio Comparison

Both IVLU and VRIG have an expense ratio of 0.30%.

Dividends

IVLU vs. VRIG - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.34%, less than VRIG's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVLU iShares MSCI Intl Value Factor ETF	3.34%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%
VRIG Invesco Variable Rate Investment Grade ETF	4.79%	4.99%	6.09%	5.97%	2.39%	0.78%	1.57%	3.12%	2.89%	2.31%	0.60%	0.00%

Frequently Asked Questions

Can I hold both IVLU and VRIG in my portfolio?

IVLU and VRIG have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVLU or VRIG?

IVLU has higher volatility (4.47%) compared to VRIG (0.11%). In terms of maximum drawdown, IVLU dropped -41.85% vs VRIG's -13.04%.

Which ETF is better, IVLU or VRIG?

On 5-year performance, IVLU leads with 13.74% vs 4.44% for VRIG. Both ETFs have the same 0.30% expense ratio. On volatility, VRIG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVLU or VRIG?

Over the 5-year period, IVLU has performed better with a 13.74% return vs 4.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVLU or VRIG?

IVLU and VRIG have the same expense ratio: 0.30% per year.

Which ETF pays a higher dividend yield, IVLU or VRIG?

VRIG has the higher dividend yield at 4.79%, compared with 3.34% for IVLU.

What is the main difference between IVLU and VRIG?

IVLU is categorized as Foreign Large Cap Equities, while VRIG is Ultrashort Bond. They also come from different issuers: iShares and Invesco.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (10.08 vs 2.14), 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.