GBPC.L vs. VECP.L
GBPC.L (L&G ESG GBP Corporate Bond UCITS ETF) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both European Corporate Bonds funds - GBPC.L tracks the Markit iBoxx GBP NonGilts TR while VECP.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 5 years, GBPC.L returned -0.17%/yr vs 0.73%/yr for VECP.L. At a 0.29 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
GBPC.L vs. VECP.L - Performance Comparison
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Different Trading Currencies
GBPC.L is traded in GBp, while VECP.L is traded in GBP. To make them comparable, the VECP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GBPC.L achieves a 0.12% return, which is significantly higher than VECP.L's -0.48% return.
GBPC.L
- 1D
- 0.26%
- 1M
- 2.00%
- YTD
- 0.12%
- 6M
- 0.43%
- 1Y
- 4.91%
- 3Y*
- 6.29%
- 5Y*
- -0.17%
- 10Y*
- —
VECP.L
- 1D
- 0.27%
- 1M
- 1.02%
- YTD
- -0.48%
- 6M
- -0.49%
- 1Y
- 4.68%
- 3Y*
- 4.97%
- 5Y*
- 0.73%
- 10Y*
- 2.41%
GBPC.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 0.12% | 6.83% | 2.78% | 8.45% | -17.18% | -2.43% | -0.23% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | -0.48% | 8.47% | 0.17% | 6.15% | -7.51% | -7.24% | -0.48% |
Correlation
The correlation between GBPC.L and VECP.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.29 |
The correlation between GBPC.L and VECP.L shifts across timeframes, from 0.28 (1 year) to 0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GBPC.L vs. VECP.L — Risk / Return Rank
GBPC.L
VECP.L
GBPC.L vs. VECP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG GBP Corporate Bond UCITS ETF (GBPC.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.
| GBPC.L | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.21 | -0.03 |
| Martin ratioReturn relative to average drawdown | 3.91 | 3.08 | +0.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBPC.L | VECP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.97 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.12 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.33 | -0.43 |
Drawdowns
GBPC.L vs. VECP.L - Drawdown Comparison
The maximum GBPC.L drawdown since its inception was -28.18%, which is greater than VECP.L's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for GBPC.L and VECP.L.
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Drawdown Indicators
| GBPC.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -20.56% | -7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.14% | -3.86% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.14% | -3.86% | -0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -27.49% | -16.13% | -11.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.56% | — |
Current DrawdownCurrent decline from peak | -4.53% | -3.44% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -7.60% | -3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.52% | -0.27% |
Volatility
GBPC.L vs. VECP.L - Volatility Comparison
L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) has a higher volatility of 3.33% compared to Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) at 1.45%. This indicates that GBPC.L's price experiences larger fluctuations and is considered to be riskier than VECP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBPC.L | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 1.45% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 3.64% | +1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.23% | 4.82% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 6.17% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.15% | 7.58% | +0.57% |
GBPC.L vs. VECP.L - Expense Ratio Comparison
Both GBPC.L and VECP.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GBPC.L vs. VECP.L - Dividend Comparison
GBPC.L's dividend yield for the trailing twelve months is around 5.14%, more than VECP.L's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 5.14% | 5.00% | 4.86% | 3.58% | 2.16% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | 3.42% | 3.37% | 4.05% | 3.45% | 2.12% | 0.94% | 0.99% | 0.93% | 1.10% | 1.23% | 1.04% |
Frequently Asked Questions
GBPC.L and VECP.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GBPC.L and VECP.L have the same expense ratio: 0.09% per year.
GBPC.L tracks Markit iBoxx GBP NonGilts TR, while VECP.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: Legal & General and Vanguard.
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