UQLT.L vs. VRPS.L
UQLT.L (UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist)) and VRPS.L (Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist)) are both exchange-traded funds - UQLT.L is a Large Cap Blend Equities fund tracking the MSCI USA Quality Advanced Target Select 100% Hedged to GBP Index, while VRPS.L is a Preferred Stock/Convertible Bonds fund tracking the ICE Diversified Variable Rate Preferred & Hybrid Securities Index. Both are passively managed. Over the past 5 years, UQLT.L returned 11.21%/yr vs 3.98%/yr for VRPS.L. At a 0.05 correlation, their price movements are largely independent. UQLT.L charges 0.28%/yr vs 0.50%/yr for VRPS.L.
Performance
UQLT.L vs. VRPS.L - Performance Comparison
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Different Trading Currencies
UQLT.L is traded in GBp, while VRPS.L is traded in USD. To make them comparable, the VRPS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UQLT.L achieves a 10.15% return, which is significantly higher than VRPS.L's 2.32% return.
UQLT.L
- 1D
- -0.84%
- 1M
- 0.58%
- 6M
- 8.77%
- YTD
- 10.15%
- 1Y
- 23.33%
- 3Y*
- 18.68%
- 5Y*
- 11.21%
- 10Y*
- 14.42%
VRPS.L
- 1D
- 0.09%
- 1M
- -1.08%
- 6M
- 0.95%
- YTD
- 2.32%
- 1Y
- 5.05%
- 3Y*
- 7.33%
- 5Y*
- 3.98%
- 10Y*
- —
UQLT.L vs. VRPS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) | 10.15% | 17.64% | 20.58% | 33.76% | -25.29% | 27.69% | 19.02% | 34.52% | -14.60% |
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) | 2.32% | -1.25% | 12.75% | 3.81% | 1.00% | 4.61% | 1.13% | 13.26% | -4.61% |
Correlation
The correlation between UQLT.L and VRPS.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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.05 |
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Return for Risk
UQLT.L vs. VRPS.L — Risk / Return Rank
UQLT.L
VRPS.L
UQLT.L vs. VRPS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) (UQLT.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) (VRPS.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.
| UQLT.L | VRPS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.13 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.06 | +0.94 |
| Martin ratioReturn relative to average drawdown | 8.36 | 2.89 | +5.46 |
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Drawdowns
UQLT.L vs. VRPS.L - Drawdown Comparison
The maximum UQLT.L drawdown since its inception was -33.41%, which is greater than VRPS.L's maximum drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for UQLT.L and VRPS.L.
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Drawdown Indicators
| UQLT.L | VRPS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.41% | -27.14% | -6.27% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -4.75% | -6.88% |
Max Drawdown (3Y)Largest decline over 3 years | -21.34% | -9.37% | -11.97% |
Max Drawdown (5Y)Largest decline over 5 years | -31.53% | -15.84% | -15.69% |
Max Drawdown (10Y)Largest decline over 10 years | -33.41% | — | — |
Current DrawdownCurrent decline from peak | -0.84% | -2.17% | +1.33% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -4.63% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 1.74% | +1.04% |
Volatility
UQLT.L vs. VRPS.L - Volatility Comparison
UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) (UQLT.L) has a higher volatility of 3.81% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) (VRPS.L) at 1.77%. This indicates that UQLT.L's price experiences larger fluctuations and is considered to be riskier than VRPS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UQLT.L | VRPS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 1.77% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 5.23% | +5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 6.86% | +7.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.85% | 8.74% | +9.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 12.29% | +5.20% |
UQLT.L vs. VRPS.L - Expense Ratio Comparison
UQLT.L has a 0.28% expense ratio, which is lower than VRPS.L's 0.50% expense ratio.
Dividends
UQLT.L vs. VRPS.L - Dividend Comparison
UQLT.L's dividend yield for the trailing twelve months is around 0.22%, less than VRPS.L's 5.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) | 0.22% | 0.54% | 0.30% | 0.78% | 0.81% | 0.70% | 0.86% | 0.93% | 1.24% | 1.04% | 0.65% |
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) | 5.14% | 4.99% | 4.98% | 4.97% | 4.60% | 3.72% | 3.97% | 4.33% | 0.70% | 0.00% | 0.00% |
Frequently Asked Questions
UQLT.L and VRPS.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.
On fees, UQLT.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UQLT.L is cheaper with a 0.28% expense ratio, compared with 0.50% for VRPS.L.
UQLT.L is categorized as Large Cap Blend Equities, while VRPS.L is Preferred Stock/Convertible Bonds. UQLT.L tracks MSCI USA Quality Advanced Target Select 100% Hedged to GBP Index, while VRPS.L tracks ICE Diversified Variable Rate Preferred & Hybrid Securities Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.28% for UQLT.L and 0.50% for VRPS.L.
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