FRUC.L vs. VUCP.L

Last updated Jun 5, 2026

FRUC.L (Franklin USD Investment Grade Corporate Bond UCITS ETF) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from Franklin Templeton and Vanguard respectively. Both are passively managed. Over the past 5 years, FRUC.L returned 1.25%/yr vs 1.01%/yr for VUCP.L. Their correlation of 0.95 suggests significant overlap in exposure. FRUC.L charges 0.35%/yr vs 0.09%/yr for VUCP.L.

Performance

FRUC.L vs. VUCP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin USD Investment Grade Corporate Bond UCITS ETF (FRUC.L) and Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRUC.L achieves a 0.15% return, which is significantly higher than VUCP.L's 0.04% return.

FRUC.L

• 1D: 0.17%
• 1M: 1.65%
• YTD: 0.15%
• 6M: -0.05%
• 1Y: 6.26%
• 3Y*: 2.25%
• 5Y*: 1.25%
• 10Y*: —

VUCP.L

• 1D: 0.29%
• 1M: 1.42%
• YTD: 0.04%
• 6M: -0.47%
• 1Y: 5.40%
• 3Y*: 1.87%
• 5Y*: 1.01%
• 10Y*: 2.70%

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

FRUC.L vs. VUCP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FRUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF	0.15%	0.24%	3.75%	1.75%	-5.43%	-1.01%	6.06%	10.92%	2.86%
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing	0.04%	-0.91%	4.32%	1.29%	-5.38%	-0.63%	4.96%	10.22%	2.56%

Correlation

The correlation between FRUC.L and VUCP.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.95

The correlation between FRUC.L and VUCP.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FRUC.L vs. VUCP.L — Risk / Return Rank

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

FRUC.L

FRUC.L Risk / Return Rank: 27
FRUC.L Sharpe Ratio Rank: 28
FRUC.L Sortino Ratio Rank: 29
FRUC.L Omega Ratio Rank: 27
FRUC.L Calmar Ratio Rank: 28
FRUC.L Martin Ratio Rank: 25

VUCP.L

VUCP.L Risk / Return Rank: 24
VUCP.L Sharpe Ratio Rank: 25
VUCP.L Sortino Ratio Rank: 25
VUCP.L Omega Ratio Rank: 24
VUCP.L Calmar Ratio Rank: 24
VUCP.L Martin Ratio Rank: 21

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.

FRUC.L vs. VUCP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin USD Investment Grade Corporate Bond UCITS ETF (FRUC.L) and Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.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.

	FRUC.L	VUCP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.90	+0.11
Sortino ratio: Return per unit of downside risk	1.54	1.35	+0.18
Omega ratio: Gain probability vs. loss probability	1.18	1.15	+0.02
Calmar ratio: Return relative to maximum drawdown	1.34	1.08	+0.26
Martin ratio: Return relative to average drawdown	3.21	2.44	+0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRUC.L vs. VUCP.L - Sharpe Ratio Comparison

The current FRUC.L Sharpe Ratio is 1.01, which is comparable to the VUCP.L Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FRUC.L and VUCP.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

	FRUC.L	VUCP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.90	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.12	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.27	-0.03

Drawdowns

FRUC.L vs. VUCP.L - Drawdown Comparison

The maximum FRUC.L drawdown since its inception was -17.34%, roughly equal to the maximum VUCP.L drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for FRUC.L and VUCP.L.

Drawdown Indicators

	FRUC.L	VUCP.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.34%	-16.84%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.65%	-5.00%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-9.00%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-13.26%	-13.14%	-0.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.84%	—
Current Drawdown Current decline from peak	-7.39%	-7.67%	+0.28%
Average Drawdown Average peak-to-trough decline	-8.18%	-7.67%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.21%	-0.26%

Volatility

FRUC.L vs. VUCP.L - Volatility Comparison

Franklin USD Investment Grade Corporate Bond UCITS ETF (FRUC.L) and Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) have volatilities of 1.66% and 1.62%, 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

	FRUC.L	VUCP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.62%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	4.57%	4.46%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	6.20%	5.99%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	8.51%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.61%	9.92%	-0.31%

FRUC.L vs. VUCP.L - Expense Ratio Comparison

FRUC.L has a 0.35% expense ratio, which is higher than VUCP.L's 0.09% expense ratio.

Dividends

FRUC.L vs. VUCP.L - Dividend Comparison

FRUC.L's dividend yield for the trailing twelve months is around 4.01%, more than VUCP.L's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FRUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF	4.01%	4.02%	4.19%	3.44%	2.71%	2.13%	2.42%	3.45%	1.64%	0.00%	0.00%
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing	3.85%	4.02%	4.73%	3.57%	2.79%	1.85%	2.36%	2.64%	2.58%	2.57%	1.73%

Frequently Asked Questions

Can I hold both FRUC.L and VUCP.L in my portfolio?

With a correlation of 0.93, FRUC.L and VUCP.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.

Which ETF is better, FRUC.L or VUCP.L?

On fees, VUCP.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, FRUC.L or VUCP.L?

VUCP.L is cheaper with a 0.09% expense ratio, compared with 0.35% for FRUC.L.

What is the main difference between FRUC.L and VUCP.L?

Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.35% for FRUC.L and 0.09% for VUCP.L.