Invesco Variable Rate Preferred ETF
VRP
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 11 Greenway Plaza, Suite 1000 Houston TX United States of America 77046
- IPO Date
- May 1, 2014
- CIK
- 0001378872
- Website
- invesco.com
- Similar Companies
- Business
- Invesco Variable Rate Preferred ETF (VRP) is an exchange-traded fund that seeks to track the investment results of the ICE Variable Rate Preferred Securities Index, comprising U.S. dollar-denominated variable rate preferred securities issued by financial and utility companies; it offers exposure to preferred stocks with floating or adjustable dividend rates, providing income stability amid interest rate volatility and lower sensitivity to rate changes compared to fixed-rate preferreds. The fund invests primarily in investment-grade preferred securities from sectors including banks, insurance providers, and utilities, with holdings typically limited to 4.75% per issuer for diversification; it features a 7.5% cap on securities from any single industry to mitigate sector risk and employs a market capitalization-weighted approach adjusted for issue size. VRP was launched in 2011 and is managed by Invesco Distributors, Inc., headquartered in Atlanta, Georgia, with operations supporting investors across the United States through major brokerage platforms; the fund maintains a portfolio of approximately 140-150 securities, emphasizing liquidity and monthly dividend distributions. Recent developments include portfolio adjustments in response to 2024-2025 Federal Reserve rate policies, enhancing yield capture through increased allocations to reset-rate preferreds from issuers like Wells Fargo and JPMorgan Chase; Invesco announced minor index methodology updates in late 2024 to better reflect hybrid securities, alongside a strategic emphasis on ESG-screened utilities amid regulatory shifts.