SHYL vs. VRP
SHYL (Xtrackers Short Duration High Yield Bond ETF) and VRP (Invesco Variable Rate Preferred ETF) are both exchange-traded funds - SHYL is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market 0-5 Year Index, while VRP is a Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. Both are passively managed. Over the past 5 years, SHYL returned 4.82%/yr vs 4.33%/yr for VRP. At a 0.50 correlation, their price movements are largely independent. SHYL charges 0.20%/yr vs 0.50%/yr for VRP.
Performance
SHYL vs. VRP - Performance Comparison
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Returns By Period
In the year-to-date period, SHYL achieves a 1.03% return, which is significantly lower than VRP's 1.98% return.
SHYL
- 1D
- -0.02%
- 1M
- -0.22%
- YTD
- 1.03%
- 6M
- 1.62%
- 1Y
- 5.92%
- 3Y*
- 8.15%
- 5Y*
- 4.82%
- 10Y*
- —
VRP
- 1D
- -0.04%
- 1M
- 0.08%
- YTD
- 1.98%
- 6M
- 2.44%
- 1Y
- 6.69%
- 3Y*
- 9.63%
- 5Y*
- 4.33%
- 10Y*
- 5.21%
SHYL vs. VRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHYL Xtrackers Short Duration High Yield Bond ETF | 1.03% | 7.78% | 8.52% | 11.39% | -5.21% | 4.60% | 3.64% | 10.16% | -0.67% |
VRP Invesco Variable Rate Preferred ETF | 1.98% | 7.34% | 11.10% | 10.35% | -9.00% | 4.20% | 5.11% | 18.84% | -6.77% |
Correlation
The correlation between SHYL and VRP is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | 0.50 |
The correlation between SHYL and VRP has been stable across timeframes, ranging from 0.50 to 0.53 - a consistent structural relationship.
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Return for Risk
SHYL vs. VRP — Risk / Return Rank
SHYL
VRP
SHYL vs. VRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Invesco Variable Rate Preferred ETF (VRP). 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.
| SHYL | VRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.51 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 2.33 | +1.41 |
| Martin ratioReturn relative to average drawdown | 14.67 | 12.52 | +2.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYL | VRP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 2.33 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.66 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.38 | +0.33 |
Drawdowns
SHYL vs. VRP - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum VRP drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for SHYL and VRP.
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Drawdown Indicators
| SHYL | VRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -46.04% | +26.78% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -2.89% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -4.26% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -13.76% | +4.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.25% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -2.31% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.54% | -0.14% |
Volatility
SHYL vs. VRP - Volatility Comparison
Xtrackers Short Duration High Yield Bond ETF (SHYL) has a higher volatility of 0.82% compared to Invesco Variable Rate Preferred ETF (VRP) at 0.63%. This indicates that SHYL's price experiences larger fluctuations and is considered to be riskier than VRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYL | VRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.63% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.33% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 2.90% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 6.55% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 14.53% | -7.84% |
SHYL vs. VRP - Expense Ratio Comparison
SHYL has a 0.20% expense ratio, which is lower than VRP's 0.50% expense ratio.
Dividends
SHYL vs. VRP - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.94%, more than VRP's 6.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYL Xtrackers Short Duration High Yield Bond ETF | 6.94% | 7.02% | 7.26% | 6.60% | 5.52% | 4.65% | 6.16% | 5.93% | 5.54% | 0.00% | 0.00% | 0.00% |
VRP Invesco Variable Rate Preferred ETF | 6.31% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Frequently Asked Questions
SHYL and VRP have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYL has higher volatility (0.82%) compared to VRP (0.63%). In terms of maximum drawdown, SHYL dropped -19.26% vs VRP's -46.04%.
On 5-year performance, SHYL leads with 4.82% vs 4.33% for VRP. On fees, SHYL is cheaper at 0.20% per year. On volatility, VRP has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SHYL has performed better with a 4.82% return vs 4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL is cheaper with a 0.20% expense ratio, compared with 0.50% for VRP.
SHYL has the higher dividend yield at 6.94%, compared with 6.31% for VRP.
SHYL is categorized as High Yield Bonds, while VRP is Preferred Stock/Convertible Bonds. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while VRP tracks Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. They also come from different issuers: Deutsche Bank and Invesco. Their fees differ too: 0.20% for SHYL and 0.50% for VRP.
VRP currently has the higher Sharpe Ratio (2.33 vs 1.86), 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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