Invesco Variable Rate Preferred ETF
$23.590.00 (0.00%)
- 0.50%
- $3B
- +1.5%
- 5.93%
- 630K sh
- low $23.47high $24.68
The ETF.net VRP Grade
B
Score 66 out of 100
- 4 of 31
Score 66 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C53 out of 100Rank 14 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.B64 out of 100Rank 12 of 26Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A80 out of 100Rank 3 of 31Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A71 out of 100Rank 9 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 7 of 29Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A86 out of 100Rank 4 of 31
Our read on VRP
In short
BThe preferred fund built on coupons that move. VRP holds mainly floating and variable rate preferred stock and hybrid debt from US corporations, where payouts reset with market rates instead of locking in at issue, and it pays monthly.
Stated mandate
The fund seeks high monthly income, with potential tax advantages, through investments in preferred stock and hybrid debt.
Why people hold it
Worth knowing
VRP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
VRP$10,147
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | VRP |
|---|---|
| Year to date | +1.0% |
| 1 month | 0.0% |
| 3 months | −1.0% |
| 1 year | +1.5% |
| 3 years | +9.2% |
| 5 years | +3.9% |
| 10 years | +4.6% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | VRP |
|---|---|---|
| 2026 YTD | +1.0% | |
| 2025 | +7.3% | |
| 2024 | +11.1% | |
| 2023 | +10.3% | |
| 2022 | −9.0% | |
| 2021 | +4.2% | |
| 2020 | +5.1% |
VRP in the news
VRP Dividends
- 5.93%
- $1.40
- $0.12 per share
- Monthly
VRP Risk
- 4.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.10
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −13.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.47
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
VRP Cost
Overpaying vs PFFD, cheapest in Preferred Securities
$5,220
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
VRP 0.50%
$9,979
PFFD 0.23% Cheapest
$4,759
Cost over time
Year by year
| Year | VRP | PFFD | Overpaying |
|---|---|---|---|
| 10 | $900 | $419 | $481 |
| 20 | $3,460 | $1,630 | $1,830 |
| 30 | $9,979 | $4,759 | $5,220 |
Other funds in Preferred Securities
- BEVPFEaton Vance Preferred Securities and Income ETFExpense ratio 0.39%1 year return
- BPFFVGlobal X Variable Rate Preferred ETFExpense ratio 0.25%1 year return +0.1%
- BPSKState Street SPDR ICE Preferred Securities ETFExpense ratio 0.45%1 year return −8.8%
- BPGXInvesco Preferred ETFExpense ratio 0.50%1 year return −8.4%
- BPFXFVanEck Preferred Securities ex Financials ETFExpense ratio 0.40%1 year return +0.1%
