PRFD vs. VRIG

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and Invesco Variable Rate Investment Grade ETF (VRIG).

PRFD and VRIG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PRFD is an actively managed fund by PIMCO. It was launched on Jan 18, 2023. VRIG is an actively managed fund by Invesco. It was launched on Sep 20, 2016.

Performance

PRFD vs. VRIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and Invesco Variable Rate Investment Grade ETF (VRIG). The values are adjusted to include any dividend payments, if applicable.

PRFD vs. VRIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	-0.68%	8.45%	9.92%	1.83%
VRIG Invesco Variable Rate Investment Grade ETF	0.90%	5.05%	6.81%	6.64%

Returns By Period

In the year-to-date period, PRFD achieves a -0.68% return, which is significantly lower than VRIG's 0.90% return.

PRFD

• 1D: 0.48%
• 1M: -2.51%
• YTD: -0.68%
• 6M: 0.63%
• 1Y: 6.09%
• 3Y*: 8.80%
• 5Y*: —
• 10Y*: —

VRIG

• 1D: 0.06%
• 1M: 0.07%
• YTD: 0.90%
• 6M: 2.12%
• 1Y: 4.82%
• 3Y*: 6.25%
• 5Y*: 4.29%
• 10Y*: —

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

PRFD vs. VRIG - Expense Ratio Comparison

PRFD has a 0.74% expense ratio, which is higher than VRIG's 0.30% expense ratio.

PRFD

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund

VRIG

Invesco Variable Rate Investment Grade ETF

Return for Risk

PRFD vs. VRIG — Risk / Return Rank

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

PRFD

PRFD Risk / Return Rank: 78
PRFD Sharpe Ratio Rank: 85
PRFD Sortino Ratio Rank: 84
PRFD Omega Ratio Rank: 87
PRFD Calmar Ratio Rank: 71
PRFD 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: 98
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.

PRFD vs. VRIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) 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.

	PRFD	VRIG	Difference
Sharpe ratio Return per unit of total volatility	1.73	5.20	-3.47
Sortino ratio Return per unit of downside risk	2.24	6.80	-4.56
Omega ratio Gain probability vs. loss probability	1.35	3.21	-1.86
Calmar ratio Return relative to maximum drawdown	1.82	6.26	-4.43
Martin ratio Return relative to average drawdown	6.38	52.80	-46.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRFD vs. VRIG - Sharpe Ratio Comparison

The current PRFD Sharpe Ratio is 1.73, which is lower than the VRIG Sharpe Ratio of 5.20. The chart below compares the historical Sharpe Ratios of PRFD and VRIG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PRFD	VRIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	5.20	-3.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	3.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	0.89	+0.33

Correlation

The correlation between PRFD and VRIG is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PRFD vs. VRIG - Dividend Comparison

PRFD's dividend yield for the trailing twelve months is around 5.74%, more than VRIG's 4.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.74%	5.63%	5.53%	5.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRIG Invesco Variable Rate Investment Grade ETF	4.89%	4.99%	6.09%	5.97%	2.39%	0.78%	1.57%	3.12%	2.89%	2.31%	0.60%

Drawdowns

PRFD vs. VRIG - Drawdown Comparison

The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum VRIG drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for PRFD and VRIG.

Drawdown Indicators

	PRFD	VRIG	Difference
Max Drawdown Largest peak-to-trough decline	-11.93%	-13.04%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-0.78%	-2.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.28%	—
Current Drawdown Current decline from peak	-2.65%	-0.02%	-2.63%
Average Drawdown Average peak-to-trough decline	-2.30%	-0.27%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.09%	+0.85%

Volatility

PRFD vs. VRIG - Volatility Comparison

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) has a higher volatility of 1.64% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.18%. This indicates that PRFD'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

	PRFD	VRIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	0.18%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	2.42%	0.37%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.55%	0.93%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	1.29%	+3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	3.83%	+1.11%