SE15.L vs. VECP.L
SE15.L (iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both European Corporate Bonds funds - SE15.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR while VECP.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, SE15.L returned 2.18%/yr vs 2.41%/yr for VECP.L. With a 0.95 correlation, they move nearly in lockstep. SE15.L charges 0.20%/yr vs 0.09%/yr for VECP.L.
Performance
SE15.L vs. VECP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SE15.L achieves a -0.33% return, which is significantly higher than VECP.L's -0.48% return. Over the past 10 years, SE15.L has underperformed VECP.L with an annualized return of 2.18%, while VECP.L has yielded a comparatively higher 2.41% annualized return.
SE15.L
- 1D
- 0.22%
- 1M
- 0.73%
- YTD
- -0.33%
- 6M
- -0.28%
- 1Y
- 5.05%
- 3Y*
- 4.84%
- 5Y*
- 1.50%
- 10Y*
- 2.18%
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%
SE15.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) | -0.33% | 9.40% | 0.01% | 4.04% | -2.64% | -6.64% | 6.70% | -2.39% | 0.34% | 4.51% |
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 SE15.L and VECP.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.95 |
The correlation between SE15.L and VECP.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
SE15.L vs. VECP.L — Risk / Return Rank
SE15.L
VECP.L
SE15.L vs. VECP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.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.
| SE15.L | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.21 | +0.34 |
| Martin ratioReturn relative to average drawdown | 3.96 | 3.08 | +0.88 |
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
| SE15.L | VECP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 0.97 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.12 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.32 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.33 | -0.08 |
Drawdowns
SE15.L vs. VECP.L - Drawdown Comparison
The maximum SE15.L drawdown since its inception was -15.78%, smaller than the maximum VECP.L drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for SE15.L and VECP.L.
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Drawdown Indicators
| SE15.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -20.56% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.86% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.25% | -3.86% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -10.15% | -16.13% | +5.98% |
Max Drawdown (10Y)Largest decline over 10 years | -15.55% | -20.56% | +5.01% |
Current DrawdownCurrent decline from peak | -1.85% | -3.44% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -7.60% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 1.52% | -0.25% |
Volatility
SE15.L vs. VECP.L - Volatility Comparison
The current volatility for iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) is 1.31%, while Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) has a volatility of 1.45%. This indicates that SE15.L experiences smaller price fluctuations and is considered to be less risky 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
| SE15.L | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.45% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 3.64% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 4.82% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.48% | 6.17% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 7.58% | -0.53% |
SE15.L vs. VECP.L - Expense Ratio Comparison
SE15.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
SE15.L vs. VECP.L - Dividend Comparison
SE15.L's dividend yield for the trailing twelve months is around 3.51%, more than VECP.L's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) | 3.51% | 3.34% | 3.02% | 1.62% | 0.58% | 0.68% | 0.66% | 0.73% | 0.69% | 0.77% | 1.05% | 0.77% |
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
With a correlation of 0.97, SE15.L and VECP.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.
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 SE15.L.
SE15.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR, 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 SE15.L and 0.09% for VECP.L.
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