VRIG vs. USFR
VRIG (Invesco Variable Rate Investment Grade ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - VRIG is a Ultrashort Bond fund actively managed by Invesco, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. VRIG is actively managed, while USFR is passively managed. Over the past 5 years, VRIG returned 4.47%/yr vs 3.70%/yr for USFR. At a 0.08 correlation, their price movements are largely independent. VRIG charges 0.30%/yr vs 0.15%/yr for USFR.
Performance
VRIG vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, VRIG achieves a 2.06% return, which is significantly higher than USFR's 1.78% return.
VRIG
- 1D
- 0.05%
- 1M
- 0.39%
- YTD
- 2.06%
- 6M
- 2.22%
- 1Y
- 4.92%
- 3Y*
- 5.92%
- 5Y*
- 4.47%
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.78%
- 6M
- 1.89%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.70%
- 10Y*
- 2.43%
VRIG vs. USFR - 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% |
USFR WisdomTree Floating Rate Treasury Fund | 1.78% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between VRIG and USFR is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.08 |
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Return for Risk
VRIG vs. USFR — Risk / Return Rank
VRIG
USFR
VRIG vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.54 | ||
| Sortino ratioReturn per unit of downside risk | -25.65 | ||
| Omega ratioGain probability vs. loss probability | 5.32 | 13.24 | -7.93 |
| Calmar ratioReturn relative to maximum drawdown | 61.80 | 200.29 | -138.49 |
| Martin ratioReturn relative to average drawdown | 315.78 | 775.73 | -459.95 |
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Drawdowns
VRIG vs. USFR - Drawdown Comparison
The maximum VRIG drawdown since its inception was -13.04%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for VRIG and USFR.
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Drawdown Indicators
| VRIG | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -1.36% | -11.68% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -0.02% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.78% | -0.06% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -2.28% | -0.18% | -2.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.15% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.01% | +0.01% |
Volatility
VRIG vs. USFR - Volatility Comparison
Invesco Variable Rate Investment Grade ETF (VRIG) has a higher volatility of 0.11% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that VRIG's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRIG | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 0.08% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 0.19% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 0.27% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.29% | 0.40% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 0.78% | +3.01% |
VRIG vs. USFR - Expense Ratio Comparison
VRIG has a 0.30% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
VRIG vs. USFR - Dividend Comparison
VRIG's dividend yield for the trailing twelve months is around 5.17%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
VRIG Invesco Variable Rate Investment Grade ETF | 5.17% | 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 USFR have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VRIG has higher volatility (0.11%) compared to USFR (0.08%). In terms of maximum drawdown, VRIG dropped -13.04% vs USFR's -1.36%.
On 5-year performance, VRIG leads with 4.47% vs 3.70% for USFR. On fees, USFR is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VRIG has performed better with a 4.47% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.30% for VRIG.
VRIG has the higher dividend yield at 5.17%, compared with 3.91% for USFR.
VRIG is categorized as Ultrashort Bond, while USFR is Government Bonds. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.30% for VRIG and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.65 vs 10.11), 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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