PGX vs VRP
Invesco Preferred ETF vs Invesco Variable Rate Preferred ETF
Which is better, PGX or VRP?
VRP has been ahead.
VRP led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PGX | VRP |
|---|---|---|
| Expense Ratio | 0.50%Tie | 0.50%Tie |
| AUM | $3.6B | $3.0B |
| Dividend Yield | 6.85% | 6.23% |
| Holdings | 548 | 733 |
| YTD Return | -7.72% | +0.68%Best |
| 1Y Return | -7.87% | +1.94%Best |
| 3Y Return (annualized) | +4.58% | +8.82%Best |
| 5Y Return (annualized) | -2.36% | +3.84%Best |
| Volatility (annualized) | 9.9% | 7.4%Best |
| Max Drawdown | -35.3%Best | -46.2% |
| $10,000 over 5 years | $8,874 | $12,073Best |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Preferred Stock | Preferred Stock |
| Inception | Jan 31, 2008 | May 1, 2014 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 1, 2014 to Oct 14, 2026 (12.5 years).
PGX vs VRP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 12.5 years both funds cover.
PGX vs VRP Performance
Invesco Preferred ETF (PGX) is an ETF from Invesco (US) and Invesco Variable Rate Preferred ETF (VRP) is an ETF from Invesco (US). Over the past year PGX returned -7.87% while VRP returned +1.94%. Year to date, PGX is down 7.72% versus a gain of 0.68% for VRP.
Over three years, PGX compounded at +4.58% per year against +8.82% for VRP; over five years the annualized figures are -2.36% and +3.84% respectively. Across the full 13-year window we track, VRP has the edge at +2.15% annualized vs -0.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PGX has been the more volatile fund, with annualized monthly volatility of 9.9% compared with 7.4% for VRP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.3% for PGX and -46.2% for VRP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PGX charges 0.50% per year while VRP charges 0.50%. On a $10,000 position that is $50 vs $50 annually. On income, PGX currently yields 6.85% against 6.23% for VRP.
Holdings Overlap
We hold position weights for 234 holdings in PGX and 268 in VRP, totalling 89.9% and 71.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 32 positions appear in both.
32 positions in common, counted across the 234 positions we hold weights for in PGX and 268 in VRP, against full books of 548 and 733.
Top Shared Holdings
| Stock | Weight in PGX | Weight in VRP | Difference |
|---|---|---|---|
| BACBank Of America Corp. | 1.25% | 1.04% | 0.21% |
| AGPXXInvesco Government & Agency Portfolio, Institutional Class | 0.13% | 1.41% | 1.28% |
| NEENextera Energy Inc | 0.80% | 0.47% | 0.33% |
| SOSouthern Co. | 0.54% | 0.60% | 0.06% |
| CCitigroup, Inc. | 0.75% | 0.34% | 0.41% |
| ATH V6.35 PERP AATHENE HOLDING LTD PR PFD | 0.82% | 0.27% | 0.55% |
| ALLAllstate Corp. | 0.86% | 0.18% | 0.68% |
| COFCapital One Financial Corp. | 0.83% | 0.20% | 0.63% |
| RGA V7.125 10/15/52Reinsurance Group Of America Inc | 0.74% | 0.24% | 0.50% |
| APO V7.625 09/15/53Apollo Global Management, Inc., Pfd. | 0.63% | 0.21% | 0.42% |
You are not choosing between two funds in isolation.
Whichever of PGX and VRP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PGX or VRP?
PGX has an expense ratio of 0.50% while VRP charges 0.50%. At the precision these are quoted to, they cost the same.
Which performed better, PGX or VRP?
Over the past year PGX returned -7.87% vs +1.94% for VRP, so VRP leads on 1-year performance. Over the longest common window we track (13 years), PGX annualized -0.33% vs +2.15% for VRP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PGX or VRP?
PGX has been the more volatile fund at 9.9% annualized versus 7.4% for VRP. Worst drawdown: PGX -35.3% vs VRP -46.2%.
Should I hold both PGX and VRP?
PGX and VRP have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PGX or VRP?
PGX yields 6.85% while VRP yields 6.23%, so PGX currently pays the higher dividend yield.
Is VRP better than PGX?
VRP led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.