VRP vs. SCFZX

Last updated Jun 4, 2026

VRP (Invesco Variable Rate Preferred ETF) and SCFZX (PGIM Securitized Credit Fund) are both funds - VRP is a Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index, while SCFZX is a Nontraditional Bonds fund managed by PGIM. Over the past 5 years, VRP returned 4.38%/yr vs 5.28%/yr for SCFZX. At a 0.11 correlation, their price movements are largely independent. VRP charges 0.50%/yr vs 0.65%/yr for SCFZX.

Performance

VRP vs. SCFZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Variable Rate Preferred ETF (VRP) and PGIM Securitized Credit Fund (SCFZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRP achieves a 2.11% return, which is significantly lower than SCFZX's 2.28% return.

VRP

• 1D: -0.12%
• 1M: 0.66%
• YTD: 2.11%
• 6M: 2.32%
• 1Y: 6.96%
• 3Y*: 9.76%
• 5Y*: 4.38%
• 10Y*: 5.23%

SCFZX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 2.28%
• 6M: 2.84%
• 1Y: 6.11%
• 3Y*: 7.69%
• 5Y*: 5.28%
• 10Y*: —

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

VRP vs. SCFZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VRP Invesco Variable Rate Preferred ETF	2.11%	7.34%	11.10%	10.35%	-9.00%	4.20%	5.11%	5.98%
SCFZX PGIM Securitized Credit Fund	2.28%	5.75%	9.41%	8.67%	-0.84%	5.27%	-0.33%	1.73%

Correlation

The correlation between VRP and SCFZX 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	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 2, 2019	0.11

Return for Risk

VRP vs. SCFZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VRP

VRP Risk / Return Rank: 71
VRP Sharpe Ratio Rank: 73
VRP Sortino Ratio Rank: 77
VRP Omega Ratio Rank: 85
VRP Calmar Ratio Rank: 48
VRP Martin Ratio Rank: 70

SCFZX

SCFZX Risk / Return Rank: 99
SCFZX Sharpe Ratio Rank: 98
SCFZX Sortino Ratio Rank: 100
SCFZX Omega Ratio Rank: 100
SCFZX Calmar Ratio Rank: 100
SCFZX Martin Ratio Rank: 99

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.

VRP vs. SCFZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred ETF (VRP) and PGIM Securitized Credit Fund (SCFZX). 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	SCFZX	Difference
Sharpe ratio Return per unit of total volatility	2.42	4.09	-1.67
Sortino ratio Return per unit of downside risk	3.51	17.53	-14.02
Omega ratio Gain probability vs. loss probability	1.53	6.28	-4.74
Calmar ratio Return relative to maximum drawdown	2.42	20.02	-17.60
Martin ratio Return relative to average drawdown	13.02	69.95	-56.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRP vs. SCFZX - Sharpe Ratio Comparison

The current VRP Sharpe Ratio is 2.42, which is lower than the SCFZX Sharpe Ratio of 4.09. The chart below compares the historical Sharpe Ratios of VRP and SCFZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VRP	SCFZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	4.09	-1.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	2.78	-2.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.37	-0.98

Drawdowns

VRP vs. SCFZX - Drawdown Comparison

The maximum VRP drawdown since its inception was -46.04%, which is greater than SCFZX's maximum drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for VRP and SCFZX.

Drawdown Indicators

	VRP	SCFZX	Difference
Max Drawdown Largest peak-to-trough decline	-46.04%	-17.20%	-28.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-0.31%	-2.58%
Max Drawdown (3Y) Largest decline over 3 years	-4.26%	-0.93%	-3.33%
Max Drawdown (5Y) Largest decline over 5 years	-13.76%	-4.13%	-9.63%
Max Drawdown (10Y) Largest decline over 10 years	-46.04%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-2.31%	-1.06%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.09%	+0.45%

Volatility

VRP vs. SCFZX - Volatility Comparison

Invesco Variable Rate Preferred ETF (VRP) has a higher volatility of 0.66% compared to PGIM Securitized Credit Fund (SCFZX) at 0.42%. This indicates that VRP's price experiences larger fluctuations and is considered to be riskier than SCFZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRP	SCFZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.42%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	1.03%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	1.50%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	1.91%	+4.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.53%	3.35%	+11.18%

VRP vs. SCFZX - Expense Ratio Comparison

VRP has a 0.50% expense ratio, which is lower than SCFZX's 0.65% expense ratio.

Dividends

VRP vs. SCFZX - Dividend Comparison

VRP's dividend yield for the trailing twelve months is around 6.30%, more than SCFZX's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCFZX PGIM Securitized Credit Fund	5.08%	5.25%	6.55%	5.58%	4.97%	2.56%	3.08%	2.43%	0.00%	0.00%	0.00%	0.00%
VRP Invesco Variable Rate Preferred ETF	6.30%	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

Can I hold both VRP and SCFZX in my portfolio?

VRP and SCFZX 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.

Which is riskier, VRP or SCFZX?

VRP has higher volatility (0.66%) compared to SCFZX (0.42%). In terms of maximum drawdown, VRP dropped -46.04% vs SCFZX's -17.20%.

Which has better risk-adjusted returns?

SCFZX currently has the higher Sharpe Ratio (4.09 vs 2.42), 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.