VRIG vs. APFPX
VRIG (Invesco Variable Rate Investment Grade ETF) and APFPX (Artisan Global Unconstrained Fund) are both funds - VRIG is a Ultrashort Bond fund actively managed by Invesco, while APFPX is a Nontraditional Bonds fund managed by Artisan. Over the past 3 years, VRIG returned 5.80%/yr vs 9.28%/yr for APFPX. Their 0.07 correlation means their historical movements had little consistent relationship. VRIG charges 0.30%/yr vs 1.54%/yr for APFPX.
Performance
VRIG vs. APFPX - Performance Comparison
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Returns By Period
In the year-to-date period, VRIG achieves a 2.56% return, which is significantly lower than APFPX's 5.21% return.
VRIG
- 1D
- 0.06%
- 1M
- 0.37%
- 6M
- 2.07%
- YTD
- 2.56%
- 1Y
- 4.74%
- 3Y*
- 5.80%
- 5Y*
- 4.55%
- 10Y*
- —
- ALL TIME*
- 3.45%
APFPX
- 1D
- -0.02%
- 1M
- 1.06%
- 6M
- 3.18%
- YTD
- 5.21%
- 1Y
- 11.35%
- 3Y*
- 9.28%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $11.75M | $12.32M | $13.13M |
VRIG vs. APFPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VRIG Invesco Variable Rate Investment Grade ETF | 2.56% | 5.05% | 6.81% | 7.37% | 1.67% |
APFPX Artisan Global Unconstrained Fund | 5.21% | 10.21% | 11.33% | 6.67% | 6.73% |
Correlation
The correlation between VRIG and APFPX is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 17, 2022 | 0.07 |
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Return for Risk
VRIG vs. APFPX — Risk / Return Rank
VRIG
APFPX
VRIG vs. APFPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and Artisan Global Unconstrained Fund (APFPX). 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.
| VRIG | APFPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.09 | ||
| Sortino ratioReturn per unit of downside risk | +16.46 | ||
| Omega ratioGain probability vs. loss probability | 5.09 | 2.18 | +2.91 |
| Calmar ratioReturn relative to maximum drawdown | 59.55 | 13.11 | +46.44 |
| Martin ratioReturn relative to average drawdown | 296.70 | 53.64 | +243.06 |
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Drawdowns
VRIG vs. APFPX - Drawdown Comparison
The maximum VRIG drawdown since its inception was -13.04%, which is greater than APFPX's maximum drawdown of -2.10%. Use the drawdown chart below to compare losses from any high point for VRIG and APFPX.
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Drawdown Indicators
| VRIG | APFPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -2.10% | -10.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -0.90% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -0.78% | -2.02% | +1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -2.28% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.29% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -0.24% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.22% | -0.20% |
Volatility
VRIG vs. APFPX - Volatility Comparison
The current volatility for Invesco Variable Rate Investment Grade ETF (VRIG) is 0.13%, while Artisan Global Unconstrained Fund (APFPX) has a volatility of 0.51%. This indicates that VRIG experiences smaller price fluctuations and is considered to be less risky than APFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRIG | APFPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.51% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 2.10% | -1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 2.51% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.29% | 2.73% | -1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 2.73% | +1.04% |
VRIG vs. APFPX - Expense Ratio Comparison
VRIG has a 0.30% expense ratio, which is lower than APFPX's 1.54% expense ratio.
Dividends
VRIG vs. APFPX - Dividend Comparison
VRIG's dividend yield for the trailing twelve months is around 4.65%, which matches APFPX's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.63% | 4.01% | 6.18% | 6.89% | 8.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRIG Invesco Variable Rate Investment Grade ETF | 4.65% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% |
Frequently Asked Questions
VRIG and APFPX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APFPX has higher volatility (0.51%) compared to VRIG (0.13%). In terms of maximum drawdown, VRIG dropped -13.04% vs APFPX's -2.10%.
VRIG currently has the higher Sharpe Ratio (9.78 vs 4.69), 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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