VRIG vs. SPHD
VRIG (Invesco Variable Rate Investment Grade ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - VRIG is a Ultrashort Bond fund actively managed by Invesco, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. VRIG is actively managed, while SPHD is passively managed. Over the past 5 years, VRIG returned 4.47%/yr vs 7.06%/yr for SPHD. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.
Performance
VRIG vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, VRIG achieves a 2.06% return, which is significantly lower than SPHD's 8.20% return.
VRIG
- 1D
- 0.00%
- 1M
- 0.39%
- YTD
- 2.06%
- 6M
- 2.20%
- 1Y
- 4.90%
- 3Y*
- 5.92%
- 5Y*
- 4.47%
- 10Y*
- —
SPHD
- 1D
- 1.63%
- 1M
- 0.82%
- YTD
- 8.20%
- 6M
- 8.56%
- 1Y
- 12.09%
- 3Y*
- 12.70%
- 5Y*
- 7.06%
- 10Y*
- 7.55%
VRIG vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRIG Invesco Variable Rate Investment Grade ETF | 2.06% | 5.05% | 6.81% | 7.37% | 0.99% | 1.06% | 1.76% | 4.57% | 0.51% | 3.20% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.20% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between VRIG and SPHD is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.07 |
The correlation between VRIG and SPHD shifts across timeframes, from -0.00 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VRIG vs. SPHD — Risk / Return Rank
VRIG
SPHD
VRIG vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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 | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.01 | ||
| Sortino ratioReturn per unit of downside risk | +22.54 | ||
| Omega ratioGain probability vs. loss probability | 5.30 | 1.18 | +4.12 |
| Calmar ratioReturn relative to maximum drawdown | 61.60 | 1.66 | +59.94 |
| Martin ratioReturn relative to average drawdown | 314.76 | 4.06 | +310.70 |
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Drawdowns
VRIG vs. SPHD - Drawdown Comparison
The maximum VRIG drawdown since its inception was -13.04%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for VRIG and SPHD.
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Drawdown Indicators
| VRIG | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -41.39% | +28.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -7.33% | +7.25% |
Max Drawdown (3Y)Largest decline over 3 years | -0.78% | -13.29% | +12.51% |
Max Drawdown (5Y)Largest decline over 5 years | -2.28% | -19.50% | +17.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.39% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.91% | +1.91% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -4.69% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 2.98% | -2.96% |
Volatility
VRIG vs. SPHD - Volatility Comparison
The current volatility for Invesco Variable Rate Investment Grade ETF (VRIG) is 0.11%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 4.26%. This indicates that VRIG experiences smaller price fluctuations and is considered to be less risky than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRIG | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 4.26% | -4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | 8.13% | -7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 11.48% | -10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.29% | 14.16% | -12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 17.65% | -13.86% |
VRIG vs. SPHD - Expense Ratio Comparison
Both VRIG and SPHD have an expense ratio of 0.30%.
Dividends
VRIG vs. SPHD - Dividend Comparison
VRIG's dividend yield for the trailing twelve months is around 4.71%, more than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.60% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
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% | 0.00% |
Frequently Asked Questions
VRIG and SPHD 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.
SPHD has higher volatility (4.26%) compared to VRIG (0.11%). In terms of maximum drawdown, VRIG dropped -13.04% vs SPHD's -41.39%.
On 5-year performance, SPHD leads with 7.06% vs 4.47% for VRIG. Both ETFs have the same 0.30% expense ratio. On volatility, VRIG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPHD has performed better with a 7.06% return vs 4.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VRIG and SPHD have the same expense ratio: 0.30% per year.
VRIG has the higher dividend yield at 4.71%, compared with 4.60% for SPHD.
VRIG is categorized as Ultrashort Bond, while SPHD is Dividend.
VRIG currently has the higher Sharpe Ratio (10.07 vs 1.06), 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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