VPAC.L vs. VRPS.L
VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) and VRPS.L (Invesco Variable Rate Preferred Shares UCITS ETF) are both Global Equities funds from Invesco - VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD while VRPS.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF. Both are passively managed. Over the past 5 years, VPAC.L returned 3.51%/yr vs 3.52%/yr for VRPS.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.
Performance
VPAC.L vs. VRPS.L - Performance Comparison
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Returns By Period
In the year-to-date period, VPAC.L achieves a 2.04% return, which is significantly lower than VRPS.L's 2.20% return.
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
VRPS.L
- 1D
- 0.00%
- 1M
- 0.08%
- 6M
- 1.79%
- YTD
- 2.20%
- 1Y
- 5.50%
- 3Y*
- 8.46%
- 5Y*
- 3.52%
- 10Y*
- —
VPAC.L vs. VRPS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 17.14% | -1.27% |
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF | 2.20% | 6.33% | 10.82% | 9.27% | -9.73% | 3.63% | 4.19% | 17.74% | -1.21% |
Correlation
The correlation between VPAC.L and VRPS.L is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.89 |
Over the past year, the correlation between VPAC.L and VRPS.L has dropped to 0.60 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.
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Return for Risk
VPAC.L vs. VRPS.L — Risk / Return Rank
VPAC.L
VRPS.L
VPAC.L vs. VRPS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) and Invesco Variable Rate Preferred Shares UCITS ETF (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.
| VPAC.L | VRPS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.59 | -0.05 |
| Martin ratioReturn relative to average drawdown | 9.98 | 9.56 | +0.42 |
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Drawdowns
VPAC.L vs. VRPS.L - Drawdown Comparison
The maximum VPAC.L drawdown since its inception was -34.25%, roughly equal to the maximum VRPS.L drawdown of -34.22%. Use the drawdown chart below to compare losses from any high point for VPAC.L and VRPS.L.
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Drawdown Indicators
| VPAC.L | VRPS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -34.22% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -2.11% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -3.40% | -3.45% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -13.90% | +0.01% |
Current DrawdownCurrent decline from peak | -0.33% | -0.28% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -3.23% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.57% | -0.05% |
Volatility
VPAC.L vs. VRPS.L - Volatility Comparison
Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) has a higher volatility of 0.74% compared to Invesco Variable Rate Preferred Shares UCITS ETF (VRPS.L) at 0.68%. This indicates that VPAC.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
| VPAC.L | VRPS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.68% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 2.82% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 3.88% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 5.34% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.00% | 10.84% | +0.16% |
VPAC.L vs. VRPS.L - Expense Ratio Comparison
Both VPAC.L and VRPS.L have an expense ratio of 0.50%.
Dividends
VPAC.L vs. VRPS.L - Dividend Comparison
VPAC.L has not paid dividends to shareholders, while VRPS.L's dividend yield for the trailing twelve months is around 5.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF | 5.14% | 4.99% | 4.98% | 4.97% | 4.60% | 3.72% | 3.97% | 4.33% | 0.70% |
Frequently Asked Questions
VPAC.L and VRPS.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VPAC.L and VRPS.L have the same expense ratio: 0.50% per year.
VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD, while VRPS.L tracks Invesco Variable Rate Preferred Shares UCITS ETF.
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