ISXF.L vs. VECP.L
ISXF.L (iShares GBP Corporate Bond ex-Financials UCITS ETF) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both European Corporate Bonds funds - ISXF.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 10 years, ISXF.L returned 1.39%/yr vs 2.41%/yr for VECP.L. At a 0.42 correlation, their price movements are largely independent. ISXF.L charges 0.20%/yr vs 0.09%/yr for VECP.L.
Performance
ISXF.L vs. VECP.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISXF.L achieves a -0.58% return, which is significantly lower than VECP.L's -0.48% return. Over the past 10 years, ISXF.L has underperformed VECP.L with an annualized return of 1.39%, while VECP.L has yielded a comparatively higher 2.41% annualized return.
ISXF.L
- 1D
- 0.33%
- 1M
- 2.17%
- YTD
- -0.58%
- 6M
- -0.21%
- 1Y
- 4.58%
- 3Y*
- 5.20%
- 5Y*
- -1.41%
- 10Y*
- 1.39%
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%
ISXF.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISXF.L iShares GBP Corporate Bond ex-Financials UCITS ETF | -0.58% | 6.93% | -0.18% | 8.72% | -19.96% | -4.01% | 8.54% | 11.27% | -2.05% | 3.40% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | -0.48% | 8.47% | 0.17% | 6.15% | -7.51% | -7.24% | 8.80% | 0.94% | -0.08% | 6.20% |
Correlation
The correlation between ISXF.L and VECP.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.42 |
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Return for Risk
ISXF.L vs. VECP.L — Risk / Return Rank
ISXF.L
VECP.L
ISXF.L vs. VECP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.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.
| ISXF.L | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.21 | -0.24 |
| Martin ratioReturn relative to average drawdown | 2.74 | 3.08 | -0.34 |
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
| ISXF.L | VECP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.97 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | 0.12 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.32 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.33 | +0.21 |
Drawdowns
ISXF.L vs. VECP.L - Drawdown Comparison
The maximum ISXF.L drawdown since its inception was -32.38%, 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 ISXF.L and VECP.L.
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Drawdown Indicators
| ISXF.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.38% | -20.56% | -11.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.73% | -3.86% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -3.86% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -31.23% | -16.13% | -15.10% |
Max Drawdown (10Y)Largest decline over 10 years | -32.38% | -20.56% | -11.82% |
Current DrawdownCurrent decline from peak | -11.65% | -3.44% | -8.21% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -7.60% | +1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.52% | +0.15% |
Volatility
ISXF.L vs. VECP.L - Volatility Comparison
iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) has a higher volatility of 2.43% compared to Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) at 1.45%. This indicates that ISXF.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
| ISXF.L | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 1.45% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 5.10% | 3.64% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 4.82% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.92% | 6.17% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.28% | 7.58% | -0.30% |
ISXF.L vs. VECP.L - Expense Ratio Comparison
ISXF.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
ISXF.L vs. VECP.L - Dividend Comparison
ISXF.L's dividend yield for the trailing twelve months is around 4.54%, more than VECP.L's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISXF.L iShares GBP Corporate Bond ex-Financials UCITS ETF | 4.54% | 4.23% | 3.97% | 3.15% | 2.93% | 2.31% | 2.30% | 2.66% | 2.87% | 2.87% | 3.48% | 1.95% |
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% | 0.00% |
Frequently Asked Questions
ISXF.L and VECP.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 ISXF.L.
ISXF.L tracks Markit iBoxx GBP NonGilts TR, 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 ISXF.L and 0.09% for VECP.L.
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