JRUD.L vs. VPAC.L
JRUD.L (JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF - USD (dist)) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds. JRUD.L is actively managed, while VPAC.L is passively managed. Over the past 5 years, JRUD.L returned 13.07%/yr vs 3.51%/yr for VPAC.L. At a 0.49 correlation, their price movements are largely independent. JRUD.L charges 0.20%/yr vs 0.50%/yr for VPAC.L.
Performance
JRUD.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRUD.L achieves a 9.80% return, which is significantly higher than VPAC.L's 2.04% return.
JRUD.L
- 1D
- 0.14%
- 1M
- 0.26%
- 6M
- 9.85%
- YTD
- 9.80%
- 1Y
- 20.83%
- 3Y*
- 19.58%
- 5Y*
- 13.07%
- 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*
- —
JRUD.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JRUD.L JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF - USD (dist) | 9.80% | 16.18% | 25.22% | 28.37% | -19.11% | 30.16% | 19.94% | 1.36% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 0.77% |
Correlation
The correlation between JRUD.L and VPAC.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2019 | 0.49 |
The correlation between JRUD.L and VPAC.L has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
JRUD.L vs. VPAC.L — Risk / Return Rank
JRUD.L
VPAC.L
JRUD.L vs. VPAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF - USD (dist) (JRUD.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.
| JRUD.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.54 | +0.02 |
| Martin ratioReturn relative to average drawdown | 10.68 | 9.98 | +0.70 |
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Drawdowns
JRUD.L vs. VPAC.L - Drawdown Comparison
The maximum JRUD.L drawdown since its inception was -34.49%, roughly equal to the maximum VPAC.L drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for JRUD.L and VPAC.L.
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Drawdown Indicators
| JRUD.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.49% | -34.25% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -2.02% | -6.36% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -3.40% | -15.45% |
Max Drawdown (5Y)Largest decline over 5 years | -24.11% | -13.89% | -10.22% |
Current DrawdownCurrent decline from peak | -0.40% | -0.33% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -3.14% | -2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.52% | +1.50% |
Volatility
JRUD.L vs. VPAC.L - Volatility Comparison
JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF - USD (dist) (JRUD.L) has a higher volatility of 2.96% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that JRUD.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
| JRUD.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 0.74% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.18% | 2.28% | +6.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.90% | 3.17% | +8.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 5.30% | +10.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.84% | 11.00% | +8.84% |
JRUD.L vs. VPAC.L - Expense Ratio Comparison
JRUD.L has a 0.20% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.
Dividends
JRUD.L vs. VPAC.L - Dividend Comparison
JRUD.L's dividend yield for the trailing twelve months is around 0.67%, while VPAC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
JRUD.L JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF - USD (dist) | 0.67% | 0.52% | 0.50% | 0.83% | 1.08% | 0.85% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JRUD.L and VPAC.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRUD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRUD.L is cheaper with a 0.20% expense ratio, compared with 0.50% for VPAC.L.
They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.20% for JRUD.L and 0.50% for VPAC.L.
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