Is VRIG Worth a Look? Auour Investments Thinks So, Initiating a $7.4 Million Stake
Key Points
Auour Investments initiated a new stake in VRIG, acquiring 293,991 shares during the first quarter; the estimated transaction value was $7.4 million based on quarterly average pricing.
This new stake represents a 2.3% change in reportable 13F assets under management (AUM) for the quarter.
Post-trade, the fund holds 293,991 shares of VRIG valued at $7.4 million.
The new position places VRIG outside Auour Investments LLC’s top five holdings by size.
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What happened
According to an SEC filing dated April 20, 2026, Auour Investments LLC established a new position in the Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG). The fund acquired 293,991 shares during the first quarter, with an estimated transaction value of $7.4 million based on the quarter’s average closing price.
What else to know
- This marks a new position for Auour Investments LLC; the post-trade holding accounts for 2.3% of its reportable 13F assets under management as of March 31, 2026.
- Top holdings after the filing:
- NYSEMKT:SPYM: $60.8 million (19.1% of AUM)
- NYSEMKT:SPDW: $33.5 million (10.5% of AUM)
- NYSEMKT:BIL: $26.4 million (8.3% of AUM)
- NYSEMKT:VEA: $12.9 million (4.1% of AUM)
- NYSEMKT:SPIB: $10.1 million (3.2% of AUM)
- As of April 20, 2026, shares of VRIG were priced at $25.02, up about 5% over the past year, underperforming the S&P 500 by roughly 29 percentage points over the same period.
ETF overview
| Metric | Value |
|---|---|
| AUM | $1.5 billion |
| Expense ratio | 0.30% |
| Dividend yield | 4.89% |
| 1-year total return | 5.34% |
ETF snapshot
The Invesco Variable Rate Investment Grade ETF offers institutional investors exposure to a diversified portfolio of high-quality, variable-rate fixed-income securities, designed to generate income while minimizing interest rate risk.
- Actively managed ETF seeking current income with low portfolio duration, primarily investing in U.S. dollar-denominated, investment-grade variable rate instruments.
- Portfolio includes floating-rate U.S. Treasuries, agency mortgage-backed securities, U.S. agency debt, structured securities, and investment-grade corporate bonds, with up to 20% in non-investment-grade securities.
- Structured as an exchange-traded fund with a focus on risk-adjusted performance.
What this transaction means for investors
When a diversified wealth manager like Auour Investments opens a brand-new position -- rather than simply adding to an existing one -- it can be a move worth noting. Auour manages roughly $318 million across a broad mix of ETFs spanning equities, fixed income, and alternatives. Against that backdrop, a fresh $7.4 million allocation to VRIG is a deliberate, meaningful move.
The appeal of a fund like VRIG comes down to what it lets investors avoid: having to take a strong view on where interest rates are headed. A traditional long-duration bond fund is essentially a directional bet -- it performs well if rates fall, and loses value if they rise. VRIG sidesteps that wager entirely. Because its holdings pay variable coupons that adjust with benchmark rates, the fund's income rises when rates rise -- rather than staying fixed while the rest of the market moves on -- and its low duration means its price stays relatively stable regardless of which way rates shift. In an environment where rate uncertainty remains elevated, that's a genuinely useful characteristic. Auour's decision to open this position could reflect less a conviction about where rates are going and more a desire to earn steady income without having to guess.
In terms of performance, VRIG has trailed the S&P 500 by about 29 percentage points over the past year. That's not unusual for an investment-grade fixed income fund. Investors considering VRIG should think of it less as a growth vehicle and more as a portfolio stabilizer -- the kind of holding that earns steady income without adding significant volatility. For a fund like Auour, which already has significant equity exposure through its largest holdings, a low-duration income ETF like VRIG can serve as ballast.
For everyday investors, the takeaway isn't necessarily to follow Auour's lead into VRIG specifically. Rather, it's a reminder that in uncertain rate environments, actively managed floating-rate strategies can play a useful role in a diversified portfolio -- providing income without the interest rate sensitivity that comes with longer-duration bonds.
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Andy Gould has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard FTSE Developed Markets ETF. The Motley Fool has a disclosure policy.
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