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USD=X vs. VRP
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. VRP

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while VRP (Invesco Variable Rate Preferred ETF) is Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. Over the past 10 years, USD=X returned 0.00%/yr vs 5.21%/yr for VRP.

Performance

USD=X vs. VRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Invesco Variable Rate Preferred ETF (VRP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

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

USD=X vs. VRP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VRP
Invesco Variable Rate Preferred ETF		1.98%7.34%11.10%10.35%-9.00%4.20%5.11%18.84%-6.62%9.26%

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USD Cash

Invesco Variable Rate Preferred ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with VRP:
VRP vs. PFFVVRP vs. SPYVRP vs. FPEIVRP vs. JEPIVRP vs. SCHDVRP vs. JBBBVRP vs. PSK

Return for Risk

USD=X vs. VRP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
VRP
VRP Risk / Return Rank: 7575
Overall Rank
VRP Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VRP Sortino Ratio Rank: 8383
Sortino Ratio Rank
VRP Omega Ratio Rank: 8888
Omega Ratio Rank
VRP Calmar Ratio Rank: 5252
Calmar Ratio Rank
VRP Martin Ratio Rank: 7474
Martin Ratio Rank
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.

USD=X vs. VRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USD=X vs. VRP - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XVRPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

2.33

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.66

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.36

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.38

—

Drawdowns

USD=X vs. VRP - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum VRP drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for USD=X and VRP.

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Drawdown Indicators

USD=XVRPDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-46.04%

+46.04%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-2.89%

+2.89%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-4.26%

+4.26%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-13.76%

+13.76%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-46.04%

+46.04%

Current Drawdown

Current decline from peak

0.00%

-0.25%

+0.25%

Average Drawdown

Average peak-to-trough decline

0.00%

-2.31%

+2.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.54%

-0.54%

Volatility

USD=X vs. VRP - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Invesco Variable Rate Preferred ETF (VRP) has a volatility of 0.63%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky 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

USD=XVRPDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

0.63%

-0.63%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

2.33%

-2.33%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

2.90%

-2.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

6.55%

-6.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

14.53%

-14.53%

Frequently Asked Questions

VRP has higher volatility (0.63%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs VRP's -46.04%.

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