VRP vs. PIT
VRP (Invesco Variable Rate Preferred ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - VRP is a Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index, while PIT is a Commodities fund actively managed by VanEck. VRP is passively managed, while PIT is actively managed. Over the past 3 years, VRP returned 9.77%/yr vs 18.98%/yr for PIT. At a 0.11 correlation, their price movements are largely independent. VRP charges 0.50%/yr vs 0.55%/yr for PIT.
Performance
VRP vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, VRP achieves a 2.23% return, which is significantly lower than PIT's 25.62% return.
VRP
- 1D
- 0.04%
- 1M
- 0.49%
- YTD
- 2.23%
- 6M
- 2.36%
- 1Y
- 6.26%
- 3Y*
- 9.77%
- 5Y*
- 4.31%
- 10Y*
- 5.19%
PIT
- 1D
- -1.32%
- 1M
- -11.78%
- YTD
- 25.62%
- 6M
- 23.58%
- 1Y
- 39.64%
- 3Y*
- 18.98%
- 5Y*
- —
- 10Y*
- —
VRP vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VRP Invesco Variable Rate Preferred ETF | 2.23% | 7.34% | 11.10% | 10.35% | -0.27% |
PIT VanEck Commodity Strategy ETF | 25.62% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between VRP and PIT is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.11 |
The correlation between VRP and PIT shifts across timeframes, from -0.11 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VRP vs. PIT — Risk / Return Rank
VRP
PIT
VRP vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred ETF (VRP) and VanEck Commodity Strategy ETF (PIT). 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.
| VRP | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.33 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.62 | -0.45 |
| Martin ratioReturn relative to average drawdown | 11.69 | 10.88 | +0.80 |
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Drawdowns
VRP vs. PIT - Drawdown Comparison
The maximum VRP drawdown since its inception was -46.04%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for VRP and PIT.
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Drawdown Indicators
| VRP | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -15.19% | -30.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -15.19% | +12.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -15.19% | +10.93% |
Max Drawdown (5Y)Largest decline over 5 years | -13.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -15.19% | +15.03% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -4.08% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 3.66% | -3.12% |
Volatility
VRP vs. PIT - Volatility Comparison
The current volatility for Invesco Variable Rate Preferred ETF (VRP) is 0.54%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.72%. This indicates that VRP experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRP | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 4.72% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 19.40% | -17.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 21.66% | -18.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 17.50% | -10.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.53% | 17.50% | -2.97% |
VRP vs. PIT - Expense Ratio Comparison
VRP has a 0.50% expense ratio, which is lower than PIT's 0.55% expense ratio.
Dividends
VRP vs. PIT - Dividend Comparison
VRP's dividend yield for the trailing twelve months is around 6.24%, less than PIT's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIT VanEck Commodity Strategy ETF | 7.10% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRP Invesco Variable Rate Preferred ETF | 6.24% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Frequently Asked Questions
VRP and PIT have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (4.72%) compared to VRP (0.54%). In terms of maximum drawdown, VRP dropped -46.04% vs PIT's -15.19%.
On 3-year performance, PIT leads with 18.98% vs 9.77% for VRP. On fees, VRP is cheaper at 0.50% per year. On volatility, VRP has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 18.98% return vs 9.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VRP is cheaper with a 0.50% expense ratio, compared with 0.55% for PIT.
PIT has the higher dividend yield at 7.10%, compared with 6.24% for VRP.
VRP is categorized as Preferred Stock/Convertible Bonds, while PIT is Commodities. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.50% for VRP and 0.55% for PIT.
VRP currently has the higher Sharpe Ratio (2.17 vs 1.85), 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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