CBS5.L vs. VCPA.L

Last updated Jun 5, 2026

CBS5.L (UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc) and VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from UBS and Vanguard respectively. Both are passively managed. Over the past 3 years, CBS5.L returned 2.47%/yr vs -77.87%/yr for VCPA.L. A 0.74 correlation means they provide meaningful diversification when combined. CBS5.L charges 0.20%/yr vs 0.09%/yr for VCPA.L.

Performance

CBS5.L vs. VCPA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CBS5.L is traded in GBp, while VCPA.L is traded in GBP. To make them comparable, the VCPA.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with CBS5.L having a 0.50% return and VCPA.L slightly higher at 0.51%.

CBS5.L

• 1D: 0.08%
• 1M: 1.07%
• YTD: 0.50%
• 6M: 0.10%
• 1Y: 5.17%
• 3Y*: 2.47%
• 5Y*: —
• 10Y*: —

VCPA.L

• 1D: 0.29%
• 1M: 1.41%
• YTD: 0.51%
• 6M: 0.27%
• 1Y: -98.93%
• 3Y*: -77.87%
• 5Y*: -59.47%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CBS5.L vs. VCPA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CBS5.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc	0.50%	-0.23%	6.03%	0.27%	2.22%
VCPA.L Vanguard USD Corporate Bond UCITS ETF Accumulating	0.51%	-99.00%	4.58%	2.13%	0.15%

Correlation

The correlation between CBS5.L and VCPA.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022	0.74

The correlation between CBS5.L and VCPA.L shifts across timeframes, from 0.74 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CBS5.L vs. VCPA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBS5.L

CBS5.L Risk / Return Rank: 25
CBS5.L Sharpe Ratio Rank: 25
CBS5.L Sortino Ratio Rank: 26
CBS5.L Omega Ratio Rank: 24
CBS5.L Calmar Ratio Rank: 26
CBS5.L Martin Ratio Rank: 24

VCPA.L

VCPA.L Risk / Return Rank: 2
VCPA.L Sharpe Ratio Rank: 1
VCPA.L Sortino Ratio Rank: 3
VCPA.L Omega Ratio Rank: 0
VCPA.L Calmar Ratio Rank: 0
VCPA.L Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBS5.L vs. VCPA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.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.

	CBS5.L	VCPA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.88	-1.00	+1.89
Sortino ratio: Return per unit of downside risk	1.36	-0.93	+2.29
Omega ratio: Gain probability vs. loss probability	1.16	0.31	+0.85
Calmar ratio: Return relative to maximum drawdown	1.18	-1.00	+2.18
Martin ratio: Return relative to average drawdown	3.05	-1.21	+4.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBS5.L vs. VCPA.L - Sharpe Ratio Comparison

The current CBS5.L Sharpe Ratio is 0.88, which is higher than the VCPA.L Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of CBS5.L and VCPA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBS5.L	VCPA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	-1.00	+1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-1.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	-1.24	+1.51

Drawdowns

CBS5.L vs. VCPA.L - Drawdown Comparison

The maximum CBS5.L drawdown since its inception was -14.59%, smaller than the maximum VCPA.L drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for CBS5.L and VCPA.L.

Drawdown Indicators

	CBS5.L	VCPA.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-99.06%	+84.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.35%	-99.02%	+94.67%
Max Drawdown (3Y) Largest decline over 3 years	-8.03%	-99.04%	+91.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-99.04%	—
Current Drawdown Current decline from peak	-3.08%	-99.03%	+95.95%
Average Drawdown Average peak-to-trough decline	-6.29%	-17.55%	+11.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	81.78%	-80.09%

Volatility

CBS5.L vs. VCPA.L - Volatility Comparison

UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) have volatilities of 1.56% and 1.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBS5.L	VCPA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	1.53%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	4.28%	4.41%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	5.82%	98.63%	-92.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.94%	45.54%	-37.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.94%	40.64%	-32.70%

CBS5.L vs. VCPA.L - Expense Ratio Comparison

CBS5.L has a 0.20% expense ratio, which is higher than VCPA.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

CBS5.L vs. VCPA.L - Dividend Comparison

Neither CBS5.L nor VCPA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CBS5.L and VCPA.L in my portfolio?

CBS5.L and VCPA.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBS5.L or VCPA.L?

On fees, VCPA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBS5.L or VCPA.L?

VCPA.L is cheaper with a 0.09% expense ratio, compared with 0.20% for CBS5.L.

What is the main difference between CBS5.L and VCPA.L?

Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.20% for CBS5.L and 0.09% for VCPA.L.