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ETFs

Invesco Variable Rate Preferred ETF

VRP
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
May 1, 2014
Expense Ratio
0.5%
Type
Preferred
Fund Owner
Invesco
Volume (1m avg. daily)
$5,590,780
AUM
$1,465,599,555
Associated Index
ICE Variable Rate Preferred & Hybrid Securities Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

—
Wells Fargo & Co. - FXDFR PRF PERPETUAL USD 1000
1.47%
—
JPMorgan Chase & Co. - FXDFR PRF PERPETUAL USD 1000 - Ser HH
1.36%
CPRN
Citigroup Capital XIII - FXDFR PFS REDEEM 30/10/2040 USD 25
1.25%
AGPXX
Invesco Government & Agency Portfolio
1.2%
BP/P1
BP Capital Markets - FXDFR NT PERPETUAL USD 1000
1.14%
SCHW4981659
Charles Schwab Corp Depositary Shs Repr 1/100th Non-Cum Red Perp Pfd Registered ShsSeries G
1.14%
BP/P2
BP Capital Markets - FXDFR NT PERPETUAL USD 1000 - 05565QDV7
1.09%
JPM4863690
JPMorgan Chase & Co. - FXDFR PRF PERPETUAL USD 1000 - Ser FF, 1/10 Int
1.05%
VOD79
Vodafone Group plc - FXDFR CS REDEEM 04/04/2079 USD 1000
0.99%
BNKQ4609161
Bank of America Corp
0.99%
Invest with VRP
Trade VRP Options

What is VRP?

The Invesco Variable Rate Preferred ETF (Fund) is based on the ICE Variable Rate Preferred & Hybrid Securities Index (Index). The Fund will generally invest at least 90% of its total assets in fixed rate preferred securities in the U.S. market by financial companies. The Index is designed to track the performance of floating and variable rate investment grade and below investment grade U.S. dollar preferred stock, as well as certain types of hybrid securities that determined by the Index Provider, comparable to preferred stocks, that are issued by corporations in the U.S. market. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced monthly. Effective the close of markets on June 30, 2021, the Funds underlying index, index provider, objective and strategy changed. The underlying index changed from the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index to the ICE Variable Rate Preferred & Hybrid Securities Index; the index provider changed from Wells Fargo Securities, LLC to ICE Data Indices, LLC.

1M
3M
6M
YTD
1Y
3Y
Max
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VRP
Performance Measures**

for the time period May 1, 2014 to Dec 4, 2025

Returns

1M Trailing Return: 0.3%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: 1.7%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -46.0%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 13.6%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.44

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 0.11

The annualized return divided by the max drawdown for the selected time period.

ETFs related toVRP

ETFs correlated to VRP include FPE, PFF, PGF

VRP
Invesco Capital Management LLC - Invesco Variable Rate Preferred ETF
FPE
First Trust Exchange-Traded Fund III - First Trust Preferred Securities and Income ETF
PFF
BlackRock Institutional Trust Company N.A. - iShares Trust iShares Preferred and Income Securities ETF
PGF
Invesco Capital Management LLC - Invesco Financial Preferred ETF
PREF
Principal Exchange-Traded Funds - Principal Spectrum Preferred Securities Active ETF
FPEI
First Trust Exchange-Traded Fund III - First Trust Institutional Preferred Securities and Income ETF
PSK
SPDR Series Trust - SPDR ICE Preferred Securities ETF
PFFD
Global X Funds - Global X U.S. Preferred ETF
CVRD
Madison ETFs Trust - Madison Covered Call ETF
PGX
Invesco Capital Management LLC - Invesco Preferred ETF
XAUG
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Trading Strategies
Related toVRP

The Monster

Category

Risk-on/risk-off, trend-following, mean reversion, volatility hedging, leveraged ETFs, rates-aware, multi-asset

OOS Cumulative Return

72.1%

Hidden Obsidian Simple 2.0 (K-1 Free)

Category

Regime switching, Tactical asset allocation, Trend following, Mean reversion, Volatility filter, Crash protection, Leveraged ETFs, Hedging, K-1 free, Multi-asset, Dynamic risk management

OOS Cumulative Return

51.49%

Create your own algorithmic trading strategy with VRP using Composer

FAQ

VRP is a Preferred ETF. The Invesco Variable Rate Preferred ETF (Fund) is based on the ICE Variable Rate Preferred & Hybrid Securities Index (Index). The Fund will generally invest at least 90% of its total assets in fixed rate preferred securities in the U.S. market by financial companies. The Index is designed to track the performance of floating and variable rate investment grade and below investment grade U.S. dollar preferred stock, as well as certain types of hybrid securities that determined by the Index Provider, comparable to preferred stocks, that are issued by corporations in the U.S. market. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced monthly. Effective the close of markets on June 30, 2021, the Funds underlying index, index provider, objective and strategy changed. The underlying index changed from the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index to the ICE Variable Rate Preferred & Hybrid Securities Index; the index provider changed from Wells Fargo Securities, LLC to ICE Data Indices, LLC.

VRP tracks the ICE Variable Rate Preferred & Hybrid Securities Index.

VRP dividend information: Preferred Stock. Dividend payouts may vary in terms of frequency of payouts.

No, VRP is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, VRP is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on VRP is 0.0092%. This is the percent change in the value of VRP over the most recent 1-month period. The 3-month return on VRP is 0.0307%. This is the percent change in the value of VRP over the most recent 3-month period.

The standard deviation of VRP for the past year is 0.1104%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to VRP include QAI, PCEF, and MLPA.

ETFs correlated to VRP include FPE, PFF, and PGF.

ETFs that are inversely correlated to VRP include XBIL, FAZ, and BNKD.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.