CBE3.L vs. VDCA.L
CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) and VDCA.L (Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation) are both Short-Term Bond funds - CBE3.L tracks the Bloomberg Euro Government Bond 1-3 Year Index while VDCA.L tracks the Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3 Year. Both are passively managed. Over the past 5 years, CBE3.L returned 0.80%/yr vs 3.53%/yr for VDCA.L. At a 0.08 correlation, their price movements are largely independent. CBE3.L charges 0.20%/yr vs 0.09%/yr for VDCA.L.
Performance
CBE3.L vs. VDCA.L - Performance Comparison
Loading charts...
Different Trading Currencies
CBE3.L is traded in EUR, while VDCA.L is traded in USD. To make them comparable, the VDCA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CBE3.L achieves a 0.09% return, which is significantly lower than VDCA.L's 1.98% return.
CBE3.L
- 1D
- -0.09%
- 1M
- 0.29%
- YTD
- 0.09%
- 6M
- 0.19%
- 1Y
- 0.83%
- 3Y*
- 2.64%
- 5Y*
- 0.80%
- 10Y*
- 0.36%
VDCA.L
- 1D
- 0.11%
- 1M
- 0.89%
- YTD
- 1.98%
- 6M
- 1.79%
- 1Y
- 2.26%
- 3Y*
- 2.48%
- 5Y*
- 3.53%
- 10Y*
- —
CBE3.L vs. VDCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.09% | 2.27% | 3.11% | 3.46% | -4.26% | -0.83% | -0.15% | 0.26% |
VDCA.L Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation | 1.98% | -6.69% | 12.51% | 2.23% | 2.16% | 7.25% | -4.98% | 5.44% |
Correlation
The correlation between CBE3.L and VDCA.L is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.08 |
The correlation between CBE3.L and VDCA.L shifts across timeframes, from -0.15 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBE3.L vs. VDCA.L — Risk / Return Rank
CBE3.L
VDCA.L
CBE3.L vs. VDCA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) and Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation (VDCA.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CBE3.L | VDCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.07 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.61 | +0.14 |
| Martin ratioReturn relative to average drawdown | 2.49 | 1.54 | +0.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CBE3.L | VDCA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 0.37 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.48 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.34 | +0.09 |
Drawdowns
CBE3.L vs. VDCA.L - Drawdown Comparison
The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum VDCA.L drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for CBE3.L and VDCA.L.
Loading charts...
Drawdown Indicators
| CBE3.L | VDCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -11.67% | +5.55% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -3.66% | +2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | -10.48% | +9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.19% | -11.67% | +6.48% |
Max Drawdown (10Y)Largest decline over 10 years | -6.12% | — | — |
Current DrawdownCurrent decline from peak | -0.46% | -5.74% | +5.28% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -4.67% | +3.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 1.44% | -1.11% |
Volatility
CBE3.L vs. VDCA.L - Volatility Comparison
The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.42%, while Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation (VDCA.L) has a volatility of 1.24%. This indicates that CBE3.L experiences smaller price fluctuations and is considered to be less risky than VDCA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CBE3.L | VDCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 1.24% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.08% | 4.25% | -3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 6.07% | -4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 7.41% | -5.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 7.41% | -6.13% |
CBE3.L vs. VDCA.L - Expense Ratio Comparison
CBE3.L has a 0.20% expense ratio, which is higher than VDCA.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBE3.L vs. VDCA.L - Dividend Comparison
Neither CBE3.L nor VDCA.L has paid dividends to shareholders.
Frequently Asked Questions
CBE3.L and VDCA.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDCA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDCA.L is cheaper with a 0.09% expense ratio, compared with 0.20% for CBE3.L.
CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index, while VDCA.L tracks Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3 Year. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for CBE3.L and 0.09% for VDCA.L.
Find the right allocation for CBE3.L and VDCA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer