PSP vs. VPC
PSP (Invesco Global Listed Private Equity ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. Both are passively managed. Over the past 5 years, PSP returned 0.04%/yr vs 0.87%/yr for VPC. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PSP charges 1.44%/yr vs 0.75%/yr for VPC.
Performance
PSP vs. VPC - Performance Comparison
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Returns By Period
In the year-to-date period, PSP achieves a -9.07% return, which is significantly higher than VPC's -11.53% return.
PSP
- 1D
- -0.43%
- 1M
- 4.54%
- 6M
- -9.78%
- YTD
- -9.07%
- 1Y
- -8.31%
- 3Y*
- 9.22%
- 5Y*
- 0.04%
- 10Y*
- 8.10%
- ALL TIME*
- 2.48%
VPC
- 1D
- 0.17%
- 1M
- -1.53%
- 6M
- -11.08%
- YTD
- -11.53%
- 1Y
- -16.30%
- 3Y*
- -1.29%
- 5Y*
- 0.87%
- 10Y*
- —
- ALL TIME*
- 3.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.20M | $1.24M | $2.68M | |
| $87.07K | $126.50K | $156.13K |
PSP vs. VPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -9.07% | 6.49% | 17.42% | 37.72% | -37.37% | 27.30% | 12.47% | 21.85% |
VPC Virtus Private Credit ETF | -11.53% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.25% |
Correlation
The correlation between PSP and VPC is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.64 |
The correlation between PSP and VPC has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.
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Return for Risk
PSP vs. VPC — Risk / Return Rank
PSP
VPC
PSP vs. VPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and Virtus Private Credit ETF (VPC). 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.
| PSP | VPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.81 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.79 | +0.37 |
| Martin ratioReturn relative to average drawdown | -0.81 | -1.37 | +0.55 |
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Drawdowns
PSP vs. VPC - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than VPC's maximum drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for PSP and VPC.
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Drawdown Indicators
| PSP | VPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -53.45% | -31.95% |
Max Drawdown (1Y)Largest decline over 1 year | -22.27% | -21.55% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -24.86% | +1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | -24.86% | -22.30% |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | — | — |
Current DrawdownCurrent decline from peak | -13.51% | -21.64% | +8.13% |
Average DrawdownAverage peak-to-trough decline | -30.58% | -7.95% | -22.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.63% | 12.51% | -0.88% |
Volatility
PSP vs. VPC - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 4.92% compared to Virtus Private Credit ETF (VPC) at 3.44%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSP | VPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 3.44% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 11.09% | +5.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 13.74% | +6.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 13.58% | +10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 20.42% | +1.88% |
PSP vs. VPC - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than VPC's 0.75% expense ratio.
Dividends
PSP vs. VPC - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 5.99%, less than VPC's 16.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 5.99% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
VPC Virtus Private Credit ETF | 16.46% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSP and VPC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (4.92%) compared to VPC (3.44%). In terms of maximum drawdown, PSP dropped -85.40% vs VPC's -53.45%.
On 5-year performance, VPC leads with 0.87% vs 0.04% for PSP. On fees, VPC is cheaper at 0.75% per year. On volatility, VPC has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VPC has performed better with a 0.87% return vs 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPC is cheaper with a 0.75% expense ratio, compared with 1.44% for PSP.
VPC has the higher dividend yield at 16.46%, compared with 5.99% for PSP.
PSP is categorized as Global Equities, while VPC is Nontraditional Bonds. PSP tracks Red Rocks Global Listed Private Equity Index, while VPC tracks Indxx Private Credit Index. They also come from different issuers: Invesco and Virtus. Their fees differ too: 1.44% for PSP and 0.75% for VPC.
PSP currently has the higher Sharpe Ratio (-0.47 vs -1.25), 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.
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