MIST.L vs. VPAC.L

Last updated Jul 16, 2026

MIST.L (PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - MIST.L tracks the PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, MIST.L returned 3.14%/yr vs 4.29%/yr for VPAC.L. At a 0.02 correlation, their price movements are largely independent.

Performance

MIST.L vs. VPAC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation (MIST.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MIST.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, MIST.L achieves a 2.23% return, which is significantly lower than VPAC.L's 3.01% return.

MIST.L

• 1D: 0.00%
• 1M: 0.32%
• 6M: 2.06%
• YTD: 2.23%
• 1Y: 4.37%
• 3Y*: 5.04%
• 5Y*: 3.14%
• 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*: —

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

MIST.L vs. VPAC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MIST.L PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation	2.23%	4.61%	5.53%	5.01%	-1.12%	-0.36%	0.63%	0.28%
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD	3.01%	-1.24%	12.77%	3.80%	1.04%	4.62%	1.73%	-3.38%

Correlation

The correlation between MIST.L and VPAC.L is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since Sep 25, 2019	0.02

Return for Risk

MIST.L vs. VPAC.L — Risk / Return Rank

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

MIST.L

MIST.L Risk / Return Rank: 100
MIST.L Sharpe Ratio Rank: 100
MIST.L Sortino Ratio Rank: 100
MIST.L Omega Ratio Rank: 99
MIST.L Calmar Ratio Rank: 100
MIST.L Martin Ratio Rank: 100

VPAC.L

VPAC.L Risk / Return Rank: 65
VPAC.L Sharpe Ratio Rank: 60
VPAC.L Sortino Ratio Rank: 64
VPAC.L Omega Ratio Rank: 67
VPAC.L Calmar Ratio Rank: 63
VPAC.L Martin Ratio Rank: 69

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.

MIST.L vs. VPAC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation (MIST.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.

	MIST.L	VPAC.L	Difference
Sharpe ratio: Return per unit of total volatility	11.58	0.93	+10.65
Sortino ratio: Return per unit of downside risk	35.35	1.38	+33.97
Omega ratio: Gain probability vs. loss probability	7.17	1.17	+6.00
Calmar ratio: Return relative to maximum drawdown	101.64	1.27	+100.37
Martin ratio: Return relative to average drawdown	493.90	3.30	+490.59

MIST.L vs. VPAC.L - Sharpe Ratio Comparison

The current MIST.L Sharpe Ratio is 11.58, which is higher than the VPAC.L Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of MIST.L and VPAC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MIST.L vs. VPAC.L - Drawdown Comparison

The maximum MIST.L drawdown since its inception was -3.70%, smaller than the maximum VPAC.L drawdown of -26.87%. Use the drawdown chart below to compare losses from any high point for MIST.L and VPAC.L.

Drawdown Indicators

	MIST.L	VPAC.L	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-26.87%	+23.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-4.94%	+4.90%
Max Drawdown (3Y) Largest decline over 3 years	-0.20%	-9.34%	+9.14%
Max Drawdown (5Y) Largest decline over 5 years	-2.45%	-15.98%	+13.53%
Current Drawdown Current decline from peak	0.00%	-1.48%	+1.48%
Average Drawdown Average peak-to-trough decline	-0.38%	-4.54%	+4.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.90%	-1.89%

Volatility

MIST.L vs. VPAC.L - Volatility Comparison

The current volatility for PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation (MIST.L) is 0.10%, while Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) has a volatility of 1.91%. This indicates that MIST.L experiences smaller price fluctuations and is considered to be less risky than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIST.L	VPAC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	1.91%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	0.28%	5.14%	-4.86%
Volatility (1Y) Calculated over the trailing 1-year period	0.38%	6.72%	-6.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	8.70%	-8.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.98%	12.35%	-11.37%

Dividends

MIST.L vs. VPAC.L - Dividend Comparison

Neither MIST.L nor VPAC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MIST.L and VPAC.L in my portfolio?

MIST.L and VPAC.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between MIST.L and VPAC.L?

MIST.L tracks PIMCO US Dollar Short Maturity UCITS ETF Institutional GBP (Hedged) Accumulation, while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: PIMCO and Invesco.