VRIG vs. EIPI

Last updated Jul 14, 2026

VRIG (Invesco Variable Rate Investment Grade ETF) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both exchange-traded funds - VRIG is a Ultrashort Bond fund actively managed by Invesco, while EIPI is a Derivative Income fund actively managed by First Trust. Both are actively managed. Over the past year, VRIG returned 4.75% vs 22.83% for EIPI. At a 0.04 correlation, their price movements are largely independent. VRIG charges 0.30%/yr vs 1.11%/yr for EIPI.

Performance

VRIG vs. EIPI - Performance Comparison

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

Returns By Period

In the year-to-date period, VRIG achieves a 2.29% return, which is significantly lower than EIPI's 16.72% return.

VRIG

• 1D: 0.02%
• 1M: 0.37%
• 6M: 2.16%
• YTD: 2.29%
• 1Y: 4.75%
• 3Y*: 5.84%
• 5Y*: 4.50%
• 10Y*: —

EIPI

• 1D: 1.40%
• 1M: 1.71%
• 6M: 16.37%
• YTD: 16.72%
• 1Y: 22.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VRIG vs. EIPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VRIG Invesco Variable Rate Investment Grade ETF	2.29%	5.05%	4.10%
EIPI FT Energy Income Partners Enhanced Income ETF	16.72%	12.38%	13.14%

Correlation

The correlation between VRIG and EIPI is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.04

The correlation between VRIG and EIPI shifts across timeframes, from -0.09 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VRIG vs. EIPI — Risk / Return Rank

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

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: 100

EIPI

EIPI Risk / Return Rank: 88
EIPI Sharpe Ratio Rank: 88
EIPI Sortino Ratio Rank: 91
EIPI Omega Ratio Rank: 82
EIPI Calmar Ratio Rank: 92
EIPI Martin Ratio Rank: 86

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.

VRIG vs. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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	EIPI	Difference
Sharpe ratio: Return per unit of total volatility	9.86	2.28	+7.58
Sortino ratio: Return per unit of downside risk	23.33	3.41	+19.92
Omega ratio: Gain probability vs. loss probability	5.10	1.39	+3.72
Calmar ratio: Return relative to maximum drawdown	59.76	4.81	+54.95
Martin ratio: Return relative to average drawdown	300.53	14.07	+286.46

VRIG vs. EIPI - Sharpe Ratio Comparison

The current VRIG Sharpe Ratio is 9.86, which is higher than the EIPI Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VRIG and EIPI, 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

VRIG vs. EIPI - Drawdown Comparison

The maximum VRIG drawdown since its inception was -13.04%, which is greater than EIPI's maximum drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for VRIG and EIPI.

Drawdown Indicators

	VRIG	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-13.04%	-12.33%	-0.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.08%	-4.77%	+4.69%
Max Drawdown (3Y) Largest decline over 3 years	-0.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-2.28%	—	—
Current Drawdown Current decline from peak	0.00%	-0.77%	+0.77%
Average Drawdown Average peak-to-trough decline	-0.27%	-1.72%	+1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	1.63%	-1.61%

Volatility

VRIG vs. EIPI - Volatility Comparison

The current volatility for Invesco Variable Rate Investment Grade ETF (VRIG) is 0.14%, while FT Energy Income Partners Enhanced Income ETF (EIPI) has a volatility of 4.19%. This indicates that VRIG experiences smaller price fluctuations and is considered to be less risky than EIPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRIG	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.14%	4.19%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	0.36%	7.84%	-7.48%
Volatility (1Y) Calculated over the trailing 1-year period	0.48%	10.06%	-9.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	13.08%	-11.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	13.08%	-9.30%

VRIG vs. EIPI - Expense Ratio Comparison

VRIG has a 0.30% expense ratio, which is lower than EIPI's 1.11% expense ratio.

Dividends

VRIG vs. EIPI - Dividend Comparison

VRIG's dividend yield for the trailing twelve months is around 4.70%, less than EIPI's 6.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EIPI FT Energy Income Partners Enhanced Income ETF	6.69%	9.71%	6.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRIG Invesco Variable Rate Investment Grade ETF	4.70%	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 VRIG and EIPI in my portfolio?

VRIG and EIPI have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRIG or EIPI?

EIPI has higher volatility (4.19%) compared to VRIG (0.14%). In terms of maximum drawdown, VRIG dropped -13.04% vs EIPI's -12.33%.

Which ETF is better, VRIG or EIPI?

On 1-year performance, EIPI leads with 22.83% vs 4.75% for VRIG. On fees, VRIG is cheaper at 0.30% per year. On volatility, VRIG has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VRIG or EIPI?

Over the 1-year period, EIPI has performed better with a 22.83% return vs 4.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VRIG or EIPI?

VRIG is cheaper with a 0.30% expense ratio, compared with 1.11% for EIPI.

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

EIPI has the higher dividend yield at 6.69%, compared with 4.70% for VRIG.

What is the main difference between VRIG and EIPI?

VRIG is categorized as Ultrashort Bond, while EIPI is Derivative Income. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.30% for VRIG and 1.11% for EIPI.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (9.86 vs 2.28), 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.