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VRIG vs. HYGI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VRIG vs. HYGI

Last updated Jun 9, 2026

VRIG (Invesco Variable Rate Investment Grade ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - VRIG is a Ultrashort Bond fund actively managed by Invesco, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. VRIG is actively managed, while HYGI is passively managed. At a 0.15 correlation, their price movements are largely independent. VRIG charges 0.30%/yr vs 0.52%/yr for HYGI.

Performance

VRIG vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Variable Rate Investment Grade ETF (VRIG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

VRIG

1D
0.04%
1M
0.39%
YTD
1.87%
6M
2.24%
1Y
4.97%
3Y*
5.96%
5Y*
4.44%
10Y*
—

HYGI

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VRIG vs. HYGI - Yearly Performance Comparison

2026 (YTD)2025202420232022
VRIG
Invesco Variable Rate Investment Grade ETF		1.87%5.05%6.81%7.37%2.23%
HYGI
iShares Inflation Hedged High Yield Bond ETF		0.00%6.20%9.16%11.71%0.65%

Correlation

The correlation between VRIG and HYGI is -0.07, 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

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (All Time)
Calculated using the full available price history since Jun 27, 2022

0.15

The correlation between VRIG and HYGI shifts across timeframes, from -0.07 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

VRIG vs. HYGI - Sectors Allocation Comparison

Sectors
VRIG
HYGI

Financial Services

23.3%

-

Consumer Cyclical

3.0%

-

Basic Materials

0.8%

-

Consumer Defensive

0.7%

-

Technology

0.4%

-

Real Estate

0.3%
0.4%

Utilities

0.1%
99.6%

Industrials

0.0%

-

Communication Services

-

-

Energy

-

-

Healthcare

-

-

Financial Services

VRIG
23.3%
HYGI

-

Consumer Cyclical

VRIG
3.0%
HYGI

-

Basic Materials

VRIG
0.8%
HYGI

-

Consumer Defensive

VRIG
0.7%
HYGI

-

Technology

VRIG
0.4%
HYGI

-

Real Estate

VRIG
0.3%
HYGI
0.4%

Utilities

VRIG
0.1%
HYGI
99.6%

Industrials

VRIG
0.0%
HYGI

-

Communication Services

VRIG

-

HYGI

-

Energy

VRIG

-

HYGI

-

Healthcare

VRIG

-

HYGI

-

Compare stocks, funds, or ETFs

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Invesco Variable Rate Investment Grade ETF

iShares Inflation Hedged High Yield Bond ETF

Often compared with VRIG:
VRIG vs. FLTRVRIG vs. SGOVVRIG vs. TFLOVRIG vs. LQDHVRIG vs. EMNTVRIG vs. FEMBVRIG vs. MBSD
Often compared with HYGI:
HYGI vs. HYGHYGI vs. SHYGHYGI vs. SHVHYGI vs. AGGHYGI vs. FIPDXHYGI vs. SPHYHYGI vs. LNG

Return for Risk

VRIG vs. HYGI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VRIG
VRIG Risk / Return Rank: 9999
Overall Rank
VRIG Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
VRIG Sortino Ratio Rank: 9999
Sortino Ratio Rank
VRIG Omega Ratio Rank: 9999
Omega Ratio Rank
VRIG Calmar Ratio Rank: 9999
Calmar Ratio Rank
VRIG Martin Ratio Rank: 9999
Martin Ratio Rank
HYGI
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. HYGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.

VRIGHYGIDifference
Sharpe ratioReturn per unit of total volatility
10.08

—

—

Sortino ratioReturn per unit of downside risk
24.37

—

—

Omega ratioGain probability vs. loss probability

5.29

—

—

Calmar ratioReturn relative to maximum drawdown

62.49

—

—

Martin ratioReturn relative to average drawdown

318.26

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRIG vs. HYGI - Sharpe Ratio Comparison

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Sharpe Ratios by Period

VRIGHYGIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

10.08

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

3.46

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.91

—

—

Drawdowns

VRIG vs. HYGI - Drawdown Comparison

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Drawdown Indicators

VRIGHYGIDifference

Max Drawdown

Largest peak-to-trough decline

-13.04%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-0.08%

—

—

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%

—

—

Average Drawdown

Average peak-to-trough decline

-0.27%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.02%

—

—

Volatility

VRIG vs. HYGI - Volatility Comparison

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Volatility by Period

VRIGHYGIDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.11%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

0.36%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

0.50%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.29%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.80%

—

—

VRIG vs. HYGI - Expense Ratio Comparison

VRIG has a 0.30% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

VRIG vs. HYGI - Dividend Comparison

VRIG's dividend yield for the trailing twelve months is around 4.79%, while HYGI has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
HYGI
iShares Inflation Hedged High Yield Bond ETF		0.97%3.41%6.08%6.22%3.19%0.00%0.00%0.00%0.00%0.00%0.00%
VRIG
Invesco Variable Rate Investment Grade ETF		4.79%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 HYGI have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VRIG is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VRIG is cheaper with a 0.30% expense ratio, compared with 0.52% for HYGI.

VRIG has the higher dividend yield at 4.79%, compared with 0.97% for HYGI.

VRIG is categorized as Ultrashort Bond, while HYGI is Inflation-Protected Bonds. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for VRIG and 0.52% for HYGI.

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