VRIG vs. SPTU

Last updated Jun 4, 2026

VRIG (Invesco Variable Rate Investment Grade ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. VRIG is actively managed, while SPTU is passively managed. At a correlation of -0.08, they often move in opposite directions. VRIG charges 0.30%/yr vs 0.05%/yr for SPTU.

Performance

VRIG vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Variable Rate Investment Grade ETF (VRIG) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRIG achieves a 1.81% return, which is significantly higher than SPTU's 1.48% return.

VRIG

• 1D: 0.02%
• 1M: 0.39%
• YTD: 1.81%
• 6M: 2.20%
• 1Y: 4.99%
• 3Y*: 5.98%
• 5Y*: 4.42%
• 10Y*: —

SPTU

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VRIG vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
VRIG Invesco Variable Rate Investment Grade ETF	1.81%	1.13%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between VRIG and SPTU is -0.08, 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 (All Time) Calculated using the full available price history since Oct 9, 2025	-0.08

Return for Risk

VRIG vs. SPTU — 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: 100
VRIG Omega Ratio Rank: 99
VRIG Calmar Ratio Rank: 100
VRIG Martin Ratio Rank: 100

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. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

	VRIG	SPTU	Difference
Sharpe ratio: Return per unit of total volatility	10.15	—	—
Sortino ratio: Return per unit of downside risk	24.59	—	—
Omega ratio: Gain probability vs. loss probability	5.38	—	—
Calmar ratio: Return relative to maximum drawdown	62.75	—	—
Martin ratio: Return relative to average drawdown	320.64	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VRIG	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.15	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	11.82	-10.91

Drawdowns

VRIG vs. SPTU - Drawdown Comparison

The maximum VRIG drawdown since its inception was -13.04%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for VRIG and SPTU.

Drawdown Indicators

	VRIG	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-13.04%	-0.04%	-13.00%
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%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.00%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	—	—

Volatility

Volatility by Period

	VRIG	SPTU	Difference
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	0.49%	0.32%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	0.32%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	0.32%	+3.48%

VRIG vs. SPTU - Expense Ratio Comparison

VRIG has a 0.30% expense ratio, which is higher than SPTU's 0.05% expense ratio.

Dividends

VRIG vs. SPTU - Dividend Comparison

VRIG's dividend yield for the trailing twelve months is around 4.79%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%	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

Can I hold both VRIG and SPTU in my portfolio?

VRIG and SPTU have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VRIG or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VRIG or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.30% for VRIG.

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

VRIG has the higher dividend yield at 4.79%, compared with 2.36% for SPTU.

What is the main difference between VRIG and SPTU?

They also come from different issuers: Invesco and State Street. Their fees differ too: 0.30% for VRIG and 0.05% for SPTU.