VRPS.L vs. SGWS.L
VRPS.L (Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist)) and SGWS.L (iShares MSCI World SRI UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - VRPS.L is a Preferred Stock/Convertible Bonds fund tracking the ICE Diversified Variable Rate Preferred & Hybrid Securities Index, while SGWS.L is a Global Equities fund tracking the MSCI World SRI Select Reduced Fossil Fuel Index. Both are passively managed. Over the past 5 years, VRPS.L returned 3.53%/yr vs 9.49%/yr for SGWS.L. A 0.51 correlation means they provide meaningful diversification when combined. VRPS.L charges 0.50%/yr vs 0.23%/yr for SGWS.L.
Performance
VRPS.L vs. SGWS.L - Performance Comparison
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Different Trading Currencies
VRPS.L is traded in USD, while SGWS.L is traded in GBP. To make them comparable, the SGWS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VRPS.L achieves a 2.25% return, which is significantly lower than SGWS.L's 12.29% return.
VRPS.L
- 1D
- 0.05%
- 1M
- 0.18%
- 6M
- 1.64%
- YTD
- 2.25%
- 1Y
- 5.42%
- 3Y*
- 8.46%
- 5Y*
- 3.53%
- 10Y*
- —
SGWS.L
- 1D
- -0.35%
- 1M
- 0.35%
- 6M
- 8.95%
- YTD
- 12.29%
- 1Y
- 22.32%
- 3Y*
- 15.93%
- 5Y*
- 9.49%
- 10Y*
- —
VRPS.L vs. SGWS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) | 2.25% | 6.33% | 10.82% | 9.27% | -9.73% | 3.63% | 5.22% |
SGWS.L iShares MSCI World SRI UCITS ETF GBP Hedged (Dist) | 12.29% | 21.24% | 11.96% | 30.82% | -28.80% | 27.34% | 14.27% |
Correlation
The correlation between VRPS.L and SGWS.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.51 |
The correlation between VRPS.L and SGWS.L has been stable across timeframes, ranging from 0.42 to 0.52 - a consistent structural relationship.
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Return for Risk
VRPS.L vs. SGWS.L — Risk / Return Rank
VRPS.L
SGWS.L
VRPS.L vs. SGWS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) (VRPS.L) and iShares MSCI World SRI UCITS ETF GBP Hedged (Dist) (SGWS.L). 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.
| VRPS.L | SGWS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 1.85 | +0.71 |
| Martin ratioReturn relative to average drawdown | 9.42 | 6.91 | +2.51 |
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Drawdowns
VRPS.L vs. SGWS.L - Drawdown Comparison
The maximum VRPS.L drawdown since its inception was -34.22%, smaller than the maximum SGWS.L drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for VRPS.L and SGWS.L.
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Drawdown Indicators
| VRPS.L | SGWS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.22% | -40.35% | +6.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -12.03% | +9.92% |
Max Drawdown (3Y)Largest decline over 3 years | -3.45% | -18.35% | +14.90% |
Max Drawdown (5Y)Largest decline over 5 years | -13.90% | -40.35% | +26.45% |
Current DrawdownCurrent decline from peak | -0.23% | -0.35% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -8.70% | +5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 3.22% | -2.65% |
Volatility
VRPS.L vs. SGWS.L - Volatility Comparison
The current volatility for Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) (VRPS.L) is 0.68%, while iShares MSCI World SRI UCITS ETF GBP Hedged (Dist) (SGWS.L) has a volatility of 4.44%. This indicates that VRPS.L experiences smaller price fluctuations and is considered to be less risky than SGWS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRPS.L | SGWS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 4.44% | -3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 12.88% | -10.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 16.08% | -12.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 19.86% | -14.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.84% | 19.45% | -8.61% |
VRPS.L vs. SGWS.L - Expense Ratio Comparison
VRPS.L has a 0.50% expense ratio, which is higher than SGWS.L's 0.23% expense ratio.
Dividends
VRPS.L vs. SGWS.L - Dividend Comparison
VRPS.L's dividend yield for the trailing twelve months is around 5.13%, more than SGWS.L's 1.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SGWS.L iShares MSCI World SRI UCITS ETF GBP Hedged (Dist) | 1.15% | 1.16% | 1.36% | 1.47% | 1.75% | 1.16% | 0.10% | 0.00% | 0.00% |
VRPS.L Invesco Variable Rate Preferred Shares UCITS ETF USD (Dist) | 5.13% | 4.99% | 4.98% | 4.97% | 4.60% | 3.72% | 3.97% | 4.33% | 0.70% |
Frequently Asked Questions
VRPS.L and SGWS.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGWS.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGWS.L is cheaper with a 0.23% expense ratio, compared with 0.50% for VRPS.L.
VRPS.L is categorized as Preferred Stock/Convertible Bonds, while SGWS.L is Global Equities. VRPS.L tracks ICE Diversified Variable Rate Preferred & Hybrid Securities Index, while SGWS.L tracks MSCI World SRI Select Reduced Fossil Fuel Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for VRPS.L and 0.23% for SGWS.L.
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