IBTS.L vs. VUCP.L
IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both exchange-traded funds - IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index, while VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 10 years, IBTS.L returned 2.09%/yr vs 3.04%/yr for VUCP.L. Their correlation of 0.81 suggests significant overlap in exposure. IBTS.L charges 0.07%/yr vs 0.09%/yr for VUCP.L.
Performance
IBTS.L vs. VUCP.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTS.L achieves a 2.73% return, which is significantly lower than VUCP.L's 3.11% return. Over the past 10 years, IBTS.L has underperformed VUCP.L with an annualized return of 2.09%, while VUCP.L has yielded a comparatively higher 3.04% annualized return.
IBTS.L
- 1D
- 0.32%
- 1M
- 2.39%
- YTD
- 2.73%
- 6M
- 3.46%
- 1Y
- 6.67%
- 3Y*
- 3.08%
- 5Y*
- 3.03%
- 10Y*
- 2.09%
VUCP.L
- 1D
- 0.67%
- 1M
- 3.45%
- YTD
- 3.11%
- 6M
- 4.04%
- 1Y
- 8.77%
- 3Y*
- 4.30%
- 5Y*
- 1.75%
- 10Y*
- 3.04%
IBTS.L vs. VUCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 2.73% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.21% | -8.60% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 3.11% | 0.35% | 4.48% | 2.22% | -4.79% | 0.07% | 5.63% | 11.03% | 3.09% | -2.96% |
Correlation
The correlation between IBTS.L and VUCP.L is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.81 |
The correlation between IBTS.L and VUCP.L has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
IBTS.L vs. VUCP.L — Risk / Return Rank
IBTS.L
VUCP.L
IBTS.L vs. VUCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.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.
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.
| IBTS.L | VUCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.86 | -0.37 |
| Martin ratioReturn relative to average drawdown | 3.77 | 4.46 | -0.69 |
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Drawdowns
IBTS.L vs. VUCP.L - Drawdown Comparison
The maximum IBTS.L drawdown since its inception was -23.85%, which is greater than VUCP.L's maximum drawdown of -15.05%. Use the drawdown chart below to compare losses from any high point for IBTS.L and VUCP.L.
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Drawdown Indicators
| IBTS.L | VUCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.85% | -15.05% | -8.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -4.71% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -8.61% | -0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -12.60% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.02% | -15.05% | -3.97% |
Current DrawdownCurrent decline from peak | -5.60% | -0.98% | -4.62% |
Average DrawdownAverage peak-to-trough decline | -11.16% | -6.37% | -4.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 1.96% | -0.19% |
Volatility
IBTS.L vs. VUCP.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) is 1.49%, while Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a volatility of 1.78%. This indicates that IBTS.L experiences smaller price fluctuations and is considered to be less risky than VUCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTS.L | VUCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.78% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 4.54% | 4.63% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.20% | 6.13% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 8.49% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.75% | 9.43% | -0.68% |
IBTS.L vs. VUCP.L - Expense Ratio Comparison
IBTS.L has a 0.07% expense ratio, which is lower than VUCP.L's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTS.L vs. VUCP.L - Dividend Comparison
IBTS.L's dividend yield for the trailing twelve months is around 3.91%, less than VUCP.L's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.91% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 5.05% | 5.29% | 4.89% | 4.45% | 3.42% | 2.54% | 3.02% | 3.37% | 3.43% | 3.32% | 2.30% | 0.00% |
Frequently Asked Questions
IBTS.L and VUCP.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.09% for VUCP.L.
IBTS.L is categorized as Government Bonds, while VUCP.L is Corporate Bonds. IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while VUCP.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IBTS.L and 0.09% for VUCP.L.
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