EEXF.L vs. VECP.L
EEXF.L (iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist)) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both European Corporate Bonds funds - EEXF.L tracks the Bloomberg Euro Corporate ex-Financials Bond Index (EUR) while VECP.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, EEXF.L returned 0.60%/yr vs 0.97%/yr for VECP.L. With a 0.98 correlation, they move nearly in lockstep. EEXF.L charges 0.20%/yr vs 0.09%/yr for VECP.L.
Performance
EEXF.L vs. VECP.L - Performance Comparison
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Returns By Period
In the year-to-date period, EEXF.L achieves a -3.85% return, which is significantly lower than VECP.L's -2.49% return. Over the past 10 years, EEXF.L has underperformed VECP.L with an annualized return of 0.60%, while VECP.L has yielded a comparatively higher 0.97% annualized return.
EEXF.L
- 1D
- -0.68%
- 1M
- -2.20%
- 6M
- -3.46%
- YTD
- -3.85%
- 1Y
- -2.30%
- 3Y*
- 3.04%
- 5Y*
- -0.93%
- 10Y*
- 0.60%
VECP.L
- 1D
- -0.71%
- 1M
- -2.23%
- 6M
- -2.06%
- YTD
- -2.49%
- 1Y
- -0.76%
- 3Y*
- 4.07%
- 5Y*
- -0.29%
- 10Y*
- 0.97%
EEXF.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEXF.L iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) | -3.85% | 7.88% | -1.05% | 5.23% | -8.74% | -7.78% | 8.67% | 1.04% | -0.32% | 5.14% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | -2.49% | 8.48% | -0.44% | 5.44% | -8.54% | -7.52% | 8.36% | 0.80% | -0.20% | 6.03% |
Correlation
The correlation between EEXF.L and VECP.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.98 |
The correlation between EEXF.L and VECP.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
EEXF.L vs. VECP.L — Risk / Return Rank
EEXF.L
VECP.L
EEXF.L vs. VECP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) (EEXF.L) and Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EEXF.L | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.98 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.19 | -0.29 |
| Martin ratioReturn relative to average drawdown | -0.98 | -0.44 | -0.54 |
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Drawdowns
EEXF.L vs. VECP.L - Drawdown Comparison
The maximum EEXF.L drawdown since its inception was -21.79%, roughly equal to the maximum VECP.L drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for EEXF.L and VECP.L.
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Drawdown Indicators
| EEXF.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.79% | -21.45% | -0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -4.04% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.22% | -4.04% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -17.09% | -16.78% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -21.79% | -21.45% | -0.34% |
Current DrawdownCurrent decline from peak | -10.99% | -7.97% | -3.02% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -8.43% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.73% | +0.83% |
Volatility
EEXF.L vs. VECP.L - Volatility Comparison
iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) (EEXF.L) and Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) have volatilities of 1.22% and 1.20%, 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.
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Volatility by Period
| EEXF.L | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.20% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 3.72% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 4.67% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 6.19% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 7.18% | +0.18% |
EEXF.L vs. VECP.L - Expense Ratio Comparison
EEXF.L has a 0.20% expense ratio, which is higher than VECP.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
EEXF.L vs. VECP.L - Dividend Comparison
EEXF.L's dividend yield for the trailing twelve months is around 2.85%, less than VECP.L's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEXF.L iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) | 2.85% | 2.59% | 2.30% | 1.49% | 0.86% | 0.84% | 0.86% | 1.31% | 1.34% | 1.40% | 1.70% | 1.00% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | 3.51% | 3.37% | 3.44% | 2.80% | 1.00% | 0.62% | 0.59% | 0.81% | 0.96% | 1.07% | 0.85% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, EEXF.L and VECP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VECP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VECP.L is cheaper with a 0.09% expense ratio, compared with 0.20% for EEXF.L.
EEXF.L tracks Bloomberg Euro Corporate ex-Financials Bond Index (EUR), while VECP.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for EEXF.L and 0.09% for VECP.L.
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