PUIG.L vs. VUCP.L

Last updated Jun 5, 2026

PUIG.L (Invesco USD Corporate Bond UCITS ETF Dist) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from Invesco and Vanguard respectively. Both are passively managed. Over the past 5 years, PUIG.L returned 0.61%/yr vs -0.05%/yr for VUCP.L. At a 0.40 correlation, their price movements are largely independent. PUIG.L charges 0.10%/yr vs 0.09%/yr for VUCP.L.

Performance

PUIG.L vs. VUCP.L - Performance Comparison

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

Different Trading Currencies

PUIG.L is traded in USD, while VUCP.L is traded in GBP. To make them comparable, the VUCP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PUIG.L achieves a 0.25% return, which is significantly higher than VUCP.L's -0.21% return.

PUIG.L

• 1D: 0.27%
• 1M: 0.46%
• YTD: 0.25%
• 6M: 0.43%
• 1Y: 5.17%
• 3Y*: 5.14%
• 5Y*: 0.61%
• 10Y*: —

VUCP.L

• 1D: 0.34%
• 1M: 0.55%
• YTD: -0.21%
• 6M: 0.27%
• 1Y: 4.40%
• 3Y*: 4.50%
• 5Y*: -0.05%
• 10Y*: 1.95%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PUIG.L Invesco USD Corporate Bond UCITS ETF Dist	0.25%	7.78%	2.32%	8.00%	-14.87%	-1.64%	9.49%	16.94%	-4.38%	0.47%
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing	-0.21%	6.57%	2.58%	6.64%	-15.50%	-1.53%	8.17%	14.64%	-3.57%	-0.01%

Correlation

The correlation between PUIG.L and VUCP.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 27, 2017	0.40

Return for Risk

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

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

PUIG.L

PUIG.L Risk / Return Rank: 41
PUIG.L Sharpe Ratio Rank: 38
PUIG.L Sortino Ratio Rank: 39
PUIG.L Omega Ratio Rank: 36
PUIG.L Calmar Ratio Rank: 51
PUIG.L Martin Ratio Rank: 42

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco USD Corporate Bond UCITS ETF Dist (PUIG.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.

	PUIG.L	VUCP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.80	+0.53
Sortino ratio: Return per unit of downside risk	1.97	1.17	+0.80
Omega ratio: Gain probability vs. loss probability	1.23	1.13	+0.10
Calmar ratio: Return relative to maximum drawdown	2.45	1.32	+1.13
Martin ratio: Return relative to average drawdown	6.61	3.99	+2.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current PUIG.L Sharpe Ratio is 1.32, which is higher than the VUCP.L Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of PUIG.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

	PUIG.L	VUCP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	0.80	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	-0.01	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.30	+0.16

Drawdowns

PUIG.L vs. VUCP.L - Drawdown Comparison

The maximum PUIG.L drawdown since its inception was -21.72%, roughly equal to the maximum VUCP.L drawdown of -22.06%. Use the drawdown chart below to compare losses from any high point for PUIG.L and VUCP.L.

Drawdown Indicators

	PUIG.L	VUCP.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.72%	-22.06%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-2.85%	-3.31%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-5.50%	-6.13%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-21.72%	-21.99%	+0.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.06%	—
Current Drawdown Current decline from peak	-0.90%	-3.31%	+2.41%
Average Drawdown Average peak-to-trough decline	-6.86%	-5.68%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	1.10%	-0.05%

Volatility

PUIG.L vs. VUCP.L - Volatility Comparison

Invesco USD Corporate Bond UCITS ETF Dist (PUIG.L) and Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) have volatilities of 1.73% and 1.74%, 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

	PUIG.L	VUCP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	1.74%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.67%	4.11%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	5.31%	5.52%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.78%	7.64%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.95%	7.73%	+3.22%

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

PUIG.L has a 0.10% expense ratio, which is higher than VUCP.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

PUIG.L vs. VUCP.L - Dividend Comparison

PUIG.L's dividend yield for the trailing twelve months is around 4.92%, more than VUCP.L's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PUIG.L Invesco USD Corporate Bond UCITS ETF Dist	4.92%	4.83%	4.76%	4.03%	2.94%	2.33%	2.81%	3.15%	3.32%	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 PUIG.L and VUCP.L in my portfolio?

PUIG.L and VUCP.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

VUCP.L is cheaper with a 0.09% expense ratio, compared with 0.10% for PUIG.L.

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

Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.10% for PUIG.L and 0.09% for VUCP.L.