VRIG vs. TUSB

Last updated Aug 2, 2026

VRIG (Invesco Variable Rate Investment Grade ETF) and TUSB (Thrivent Ultra Short Bond ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, VRIG returned 4.70% vs 4.55% for TUSB. Their 0.00 correlation means their historical movements had little consistent relationship. VRIG charges 0.30%/yr vs 0.20%/yr for TUSB.

Performance

VRIG vs. TUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Variable Rate Investment Grade ETF (VRIG) and Thrivent Ultra Short Bond ETF (TUSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VRIG having a 2.56% return and TUSB slightly higher at 2.58%.

VRIG

• 1D: 0.06%
• 1M: 0.39%
• 6M: 2.07%
• YTD: 2.56%
• 1Y: 4.70%
• 3Y*: 5.80%
• 5Y*: 4.55%
• 10Y*: —
• ALL TIME*: 3.45%

TUSB

• 1D: 0.06%
• 1M: 0.47%
• 6M: 2.07%
• YTD: 2.58%
• 1Y: 4.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TUSB Thrivent Ultra Short Bond ETF	$669.76K	$810.48K	$941.31K
VRIG Invesco Variable Rate Investment Grade ETF	$11.75M	$12.32M	$13.13M

VRIG vs. TUSB - Yearly Performance Comparison

	2026 (YTD)	2025
VRIG Invesco Variable Rate Investment Grade ETF	2.56%	4.39%
TUSB Thrivent Ultra Short Bond ETF	2.58%	4.25%

Correlation

The correlation between VRIG and TUSB is -0.06, 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.	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.00

Return for Risk

VRIG vs. TUSB — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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: 99

TUSB

TUSB Risk / Return Rank: 99
TUSB Sharpe Ratio Rank: 98
TUSB Sortino Ratio Rank: 99
TUSB Omega Ratio Rank: 98
TUSB Calmar Ratio Rank: 99
TUSB Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VRIG vs. TUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and Thrivent Ultra Short Bond ETF (TUSB). 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	TUSB	Difference
Sharpe ratio: Return per unit of total volatility	9.78	4.80	+4.98
Sortino ratio: Return per unit of downside risk	23.25	8.41	+14.84
Omega ratio: Gain probability vs. loss probability	5.09	2.15	+2.94
Calmar ratio: Return relative to maximum drawdown	59.55	18.79	+40.76
Martin ratio: Return relative to average drawdown	296.70	74.19	+222.51

VRIG vs. TUSB - Sharpe Ratio Comparison

The current VRIG Sharpe Ratio is 9.78, which is higher than the TUSB Sharpe Ratio of 4.80. The chart below compares the historical Sharpe Ratios of VRIG and TUSB, 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. TUSB - Drawdown Comparison

The maximum VRIG drawdown since its inception was -13.04%, which is greater than TUSB's maximum drawdown of -0.51%. Use the drawdown chart below to compare losses from any high point for VRIG and TUSB.

Drawdown Indicators

	VRIG	TUSB	Difference
Max Drawdown Largest peak-to-trough decline	-13.04%	-0.51%	-12.53%
Max Drawdown (1Y) Largest decline over 1 year	-0.08%	-0.25%	+0.17%
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	-0.26%	-0.06%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.06%	-0.04%

Volatility

VRIG vs. TUSB - Volatility Comparison

The current volatility for Invesco Variable Rate Investment Grade ETF (VRIG) is 0.13%, while Thrivent Ultra Short Bond ETF (TUSB) has a volatility of 0.26%. This indicates that VRIG experiences smaller price fluctuations and is considered to be less risky than TUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRIG	TUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.26%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	0.36%	0.72%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	0.49%	0.97%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	1.23%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	1.23%	+2.54%

VRIG vs. TUSB - Expense Ratio Comparison

VRIG has a 0.30% expense ratio, which is higher than TUSB's 0.20% expense ratio.

Dividends

VRIG vs. TUSB - Dividend Comparison

VRIG's dividend yield for the trailing twelve months is around 4.65%, more than TUSB's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TUSB Thrivent Ultra Short Bond ETF	4.26%	3.62%	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	4.65%	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 TUSB in my portfolio?

VRIG and TUSB have a correlation of -0.06, 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 TUSB?

TUSB has higher volatility (0.26%) compared to VRIG (0.13%). In terms of maximum drawdown, VRIG dropped -13.04% vs TUSB's -0.51%.

Which ETF is better, VRIG or TUSB?

On 1-year performance, VRIG leads with 4.70% vs 4.55% for TUSB. On fees, TUSB is cheaper at 0.20% per year. On volatility, VRIG has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VRIG or TUSB?

Over the 1-year period, VRIG has performed better with a 4.70% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VRIG or TUSB?

TUSB is cheaper with a 0.20% expense ratio, compared with 0.30% for VRIG.

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

VRIG has the higher dividend yield at 4.65%, compared with 4.26% for TUSB.

What is the main difference between VRIG and TUSB?

They also come from different issuers: Invesco and Thrivent. Their fees differ too: 0.30% for VRIG and 0.20% for TUSB.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (9.78 vs 4.80), 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.