UYLD vs. VRIG

Last updated Jun 26, 2026

UYLD (Angel Oak Ultrashort Income ETF) and VRIG (Invesco Variable Rate Investment Grade ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, UYLD returned 5.88%/yr vs 5.92%/yr for VRIG. At a 0.05 correlation, their price movements are largely independent. UYLD charges 0.29%/yr vs 0.30%/yr for VRIG.

Performance

UYLD vs. VRIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Ultrashort Income ETF (UYLD) and Invesco Variable Rate Investment Grade ETF (VRIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UYLD having a 2.16% return and VRIG slightly lower at 2.10%.

UYLD

• 1D: 0.02%
• 1M: 0.65%
• YTD: 2.16%
• 6M: 2.32%
• 1Y: 5.01%
• 3Y*: 5.88%
• 5Y*: —
• 10Y*: —

VRIG

• 1D: -0.04%
• 1M: 0.39%
• YTD: 2.10%
• 6M: 2.20%
• 1Y: 4.88%
• 3Y*: 5.92%
• 5Y*: 4.48%
• 10Y*: —

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

UYLD vs. VRIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UYLD Angel Oak Ultrashort Income ETF	2.16%	5.36%	6.10%	6.90%	1.09%
VRIG Invesco Variable Rate Investment Grade ETF	2.10%	5.05%	6.81%	7.37%	1.37%

Correlation

The correlation between UYLD and VRIG is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Oct 25, 2022	0.05

Return for Risk

UYLD vs. VRIG — Risk / Return Rank

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

UYLD

UYLD Risk / Return Rank: 99
UYLD Sharpe Ratio Rank: 99
UYLD Sortino Ratio Rank: 99
UYLD Omega Ratio Rank: 99
UYLD Calmar Ratio Rank: 99
UYLD Martin Ratio Rank: 99

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: 100
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.

UYLD vs. VRIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Ultrashort Income ETF (UYLD) 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.

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.

	UYLD	VRIG	Difference
Sharpe ratio: Return per unit of total volatility	7.91	9.89	-1.97
Sortino ratio: Return per unit of downside risk	21.52	23.58	-2.06
Omega ratio: Gain probability vs. loss probability	4.37	5.14	-0.76
Calmar ratio: Return relative to maximum drawdown	36.78	61.34	-24.55
Martin ratio: Return relative to average drawdown	221.14	310.41	-89.27

UYLD vs. VRIG - Sharpe Ratio Comparison

The current UYLD Sharpe Ratio is 7.91, which is comparable to the VRIG Sharpe Ratio of 9.89. The chart below compares the historical Sharpe Ratios of UYLD and VRIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UYLD vs. VRIG - Drawdown Comparison

The maximum UYLD drawdown since its inception was -0.54%, smaller than the maximum VRIG drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for UYLD and VRIG.

Drawdown Indicators

	UYLD	VRIG	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-13.04%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	-0.14%	-0.08%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-0.54%	-0.78%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.28%	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.27%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.02%	0.00%

Volatility

UYLD vs. VRIG - Volatility Comparison

Angel Oak Ultrashort Income ETF (UYLD) has a higher volatility of 0.37% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.13%. This indicates that UYLD'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

	UYLD	VRIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	0.13%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	0.36%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	0.64%	0.50%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.99%	1.29%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.99%	3.79%	-2.80%

UYLD vs. VRIG - Expense Ratio Comparison

UYLD has a 0.29% expense ratio, which is lower than VRIG's 0.30% expense ratio.

Dividends

UYLD vs. VRIG - Dividend Comparison

UYLD's dividend yield for the trailing twelve months is around 5.02%, more than VRIG's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
UYLD Angel Oak Ultrashort Income ETF	5.02%	5.07%	4.97%	5.92%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRIG Invesco Variable Rate Investment Grade ETF	4.71%	4.99%	6.09%	5.97%	2.39%	0.78%	1.57%	3.12%	2.89%	2.31%	0.60%

Frequently Asked Questions

Can I hold both UYLD and VRIG in my portfolio?

UYLD and VRIG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UYLD or VRIG?

UYLD has higher volatility (0.37%) compared to VRIG (0.13%). In terms of maximum drawdown, UYLD dropped -0.54% vs VRIG's -13.04%.

Which ETF is better, UYLD or VRIG?

On 3-year performance, VRIG leads with 5.92% vs 5.88% for UYLD. On fees, UYLD is cheaper at 0.29% per year. On volatility, VRIG has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYLD or VRIG?

Over the 3-year period, VRIG has performed better with a 5.92% return vs 5.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYLD or VRIG?

UYLD is cheaper with a 0.29% expense ratio, compared with 0.30% for VRIG.

Which ETF pays a higher dividend yield, UYLD or VRIG?

UYLD has the higher dividend yield at 5.02%, compared with 4.71% for VRIG.

What is the main difference between UYLD and VRIG?

They also come from different issuers: Angel Oak and Invesco. Their fees differ too: 0.29% for UYLD and 0.30% for VRIG.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (9.89 vs 7.91), 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.