VRP vs. PRFD
Compare and contrast key facts about Invesco Variable Rate Preferred ETF (VRP) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD).
VRP and PRFD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VRP is a passively managed fund by Invesco that tracks the performance of the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. It was launched on May 1, 2014. PRFD is an actively managed fund by PIMCO. It was launched on Jan 18, 2023.
Performance
VRP vs. PRFD - Performance Comparison
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VRP vs. PRFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VRP Invesco Variable Rate Preferred ETF | -0.19% | 7.34% | 11.10% | 6.13% |
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | -0.68% | 8.45% | 9.92% | 1.83% |
Returns By Period
In the year-to-date period, VRP achieves a -0.19% return, which is significantly higher than PRFD's -0.68% return.
VRP
- 1D
- 0.67%
- 1M
- -1.55%
- YTD
- -0.19%
- 6M
- 0.77%
- 1Y
- 5.49%
- 3Y*
- 9.37%
- 5Y*
- 4.27%
- 10Y*
- 5.43%
PRFD
- 1D
- 0.48%
- 1M
- -2.51%
- YTD
- -0.68%
- 6M
- 0.63%
- 1Y
- 6.09%
- 3Y*
- 8.80%
- 5Y*
- —
- 10Y*
- —
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VRP vs. PRFD - Expense Ratio Comparison
VRP has a 0.50% expense ratio, which is lower than PRFD's 0.74% expense ratio.
Return for Risk
VRP vs. PRFD — Risk / Return Rank
VRP
PRFD
VRP vs. PRFD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred ETF (VRP) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). 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.
| VRP | PRFD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 1.73 | -0.40 |
Sortino ratioReturn per unit of downside risk | 1.79 | 2.24 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.82 | -0.46 |
Martin ratioReturn relative to average drawdown | 6.80 | 6.38 | +0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VRP | PRFD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.73 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.23 | -0.86 |
Correlation
The correlation between VRP and PRFD is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VRP vs. PRFD - Dividend Comparison
VRP's dividend yield for the trailing twelve months is around 6.53%, more than PRFD's 5.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VRP Invesco Variable Rate Preferred ETF | 6.53% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 5.74% | 5.63% | 5.53% | 5.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VRP vs. PRFD - Drawdown Comparison
The maximum VRP drawdown since its inception was -46.04%, which is greater than PRFD's maximum drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for VRP and PRFD.
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Drawdown Indicators
| VRP | PRFD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -11.93% | -34.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -3.28% | -0.67% |
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 | -1.87% | -2.65% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.30% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.94% | -0.15% |
Volatility
VRP vs. PRFD - Volatility Comparison
Invesco Variable Rate Preferred ETF (VRP) has a higher volatility of 1.75% compared to PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) at 1.64%. This indicates that VRP's price experiences larger fluctuations and is considered to be riskier than PRFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRP | PRFD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 1.64% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 2.42% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 3.55% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 4.94% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.53% | 4.94% | +9.59% |