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VRP vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VRP and SPY is 0.42, 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.


-0.50.00.51.0
Correlation: 0.4

Performance

VRP vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Variable Rate Preferred ETF (VRP) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

100.00%150.00%200.00%250.00%300.00%December2025FebruaryMarchAprilMay
68.43%
264.68%
VRP
SPY

Key characteristics

Sharpe Ratio

VRP:

1.35

SPY:

0.72

Sortino Ratio

VRP:

1.89

SPY:

1.13

Omega Ratio

VRP:

1.27

SPY:

1.17

Calmar Ratio

VRP:

1.76

SPY:

0.76

Martin Ratio

VRP:

9.21

SPY:

3.04

Ulcer Index

VRP:

0.81%

SPY:

4.72%

Daily Std Dev

VRP:

5.54%

SPY:

20.06%

Max Drawdown

VRP:

-46.04%

SPY:

-55.19%

Current Drawdown

VRP:

-1.34%

SPY:

-7.25%

Returns By Period

In the year-to-date period, VRP achieves a 0.68% return, which is significantly higher than SPY's -3.01% return. Over the past 10 years, VRP has underperformed SPY with an annualized return of 4.84%, while SPY has yielded a comparatively higher 12.45% annualized return.


VRP

YTD

0.68%

1M

-1.03%

6M

0.97%

1Y

6.88%

5Y*

6.32%

10Y*

4.84%

SPY

YTD

-3.01%

1M

0.40%

6M

-0.12%

1Y

13.65%

5Y*

16.65%

10Y*

12.45%

*Annualized

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VRP vs. SPY - Expense Ratio Comparison

VRP has a 0.50% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for VRP: current value is 0.50%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VRP: 0.50%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

VRP vs. SPY — Risk-Adjusted Performance Rank

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

VRP
The Risk-Adjusted Performance Rank of VRP is 8989
Overall Rank
The Sharpe Ratio Rank of VRP is 8787
Sharpe Ratio Rank
The Sortino Ratio Rank of VRP is 8787
Sortino Ratio Rank
The Omega Ratio Rank of VRP is 8787
Omega Ratio Rank
The Calmar Ratio Rank of VRP is 9191
Calmar Ratio Rank
The Martin Ratio Rank of VRP is 9292
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 7272
Overall Rank
The Sharpe Ratio Rank of SPY is 6969
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 7171
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 7373
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 7676
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 7373
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

VRP vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred ETF (VRP) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for VRP, currently valued at 1.35, compared to the broader market-1.000.001.002.003.004.00
VRP: 1.35
SPY: 0.72
The chart of Sortino ratio for VRP, currently valued at 1.89, compared to the broader market-2.000.002.004.006.008.00
VRP: 1.89
SPY: 1.13
The chart of Omega ratio for VRP, currently valued at 1.27, compared to the broader market0.501.001.502.002.50
VRP: 1.27
SPY: 1.17
The chart of Calmar ratio for VRP, currently valued at 1.76, compared to the broader market0.002.004.006.008.0010.0012.00
VRP: 1.76
SPY: 0.76
The chart of Martin ratio for VRP, currently valued at 9.21, compared to the broader market0.0020.0040.0060.00
VRP: 9.21
SPY: 3.04

The current VRP Sharpe Ratio is 1.35, which is higher than the SPY Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of VRP and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00December2025FebruaryMarchAprilMay
1.35
0.72
VRP
SPY

Dividends

VRP vs. SPY - Dividend Comparison

VRP's dividend yield for the trailing twelve months is around 5.89%, more than SPY's 1.26% yield.


TTM20242023202220212020201920182017201620152014
VRP
Invesco Variable Rate Preferred ETF
5.89%5.78%6.61%5.38%4.25%4.17%5.15%5.28%4.69%5.10%5.02%3.04%
SPY
SPDR S&P 500 ETF
1.26%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

VRP vs. SPY - Drawdown Comparison

The maximum VRP drawdown since its inception was -46.04%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VRP and SPY. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-1.34%
-7.25%
VRP
SPY

Volatility

VRP vs. SPY - Volatility Comparison

The current volatility for Invesco Variable Rate Preferred ETF (VRP) is 3.22%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.07%. This indicates that VRP experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%December2025FebruaryMarchAprilMay
3.22%
15.07%
VRP
SPY