SLXX.L vs. VCPA.L
SLXX.L (iShares Core £ Corp Bond UCITS ETF) and VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds - SLXX.L tracks the Markit iBoxx GBP Liquid Corporates Large Cap Index while VCPA.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, SLXX.L returned -0.77%/yr vs -59.47%/yr for VCPA.L. At a 0.27 correlation, their price movements are largely independent. SLXX.L charges 0.20%/yr vs 0.09%/yr for VCPA.L.
Performance
SLXX.L vs. VCPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SLXX.L achieves a -0.09% return, which is significantly lower than VCPA.L's 0.51% return.
SLXX.L
- 1D
- 0.21%
- 1M
- 2.07%
- YTD
- -0.09%
- 6M
- 0.15%
- 1Y
- 4.74%
- 3Y*
- 5.83%
- 5Y*
- -0.77%
- 10Y*
- 1.80%
VCPA.L
- 1D
- 0.29%
- 1M
- 1.41%
- YTD
- 0.51%
- 6M
- 0.27%
- 1Y
- -98.93%
- 3Y*
- -77.87%
- 5Y*
- -59.47%
- 10Y*
- —
SLXX.L vs. VCPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | -0.09% | 6.50% | 1.60% | 8.54% | -18.36% | -4.01% | 9.03% | 7.61% |
VCPA.L Vanguard USD Corporate Bond UCITS ETF Accumulating | 0.51% | -99.00% | 4.58% | 2.13% | -4.89% | -0.13% | 5.86% | 10.80% |
Correlation
The correlation between SLXX.L and VCPA.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.27 |
Over the past year, the correlation between SLXX.L and VCPA.L has dropped to 0.07 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
SLXX.L vs. VCPA.L — Risk / Return Rank
SLXX.L
VCPA.L
SLXX.L vs. VCPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core £ Corp Bond UCITS ETF (SLXX.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.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.
| SLXX.L | VCPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.31 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -1.00 | +2.11 |
| Martin ratioReturn relative to average drawdown | 3.47 | -1.21 | +4.68 |
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
| SLXX.L | VCPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | -1.00 | +1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | -1.32 | +1.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -1.24 | +1.68 |
Drawdowns
SLXX.L vs. VCPA.L - Drawdown Comparison
The maximum SLXX.L drawdown since its inception was -30.27%, smaller than the maximum VCPA.L drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for SLXX.L and VCPA.L.
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Drawdown Indicators
| SLXX.L | VCPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -99.06% | +68.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -99.02% | +94.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -99.04% | +94.79% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -99.04% | +69.70% |
Max Drawdown (10Y)Largest decline over 10 years | -30.27% | — | — |
Current DrawdownCurrent decline from peak | -8.12% | -99.03% | +90.91% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -17.55% | +11.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 81.78% | -80.41% |
Volatility
SLXX.L vs. VCPA.L - Volatility Comparison
iShares Core £ Corp Bond UCITS ETF (SLXX.L) has a higher volatility of 2.11% compared to Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) at 1.53%. This indicates that SLXX.L's price experiences larger fluctuations and is considered to be riskier than VCPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLXX.L | VCPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 1.53% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.81% | 4.41% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.59% | 98.63% | -93.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 45.54% | -37.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 40.64% | -32.56% |
SLXX.L vs. VCPA.L - Expense Ratio Comparison
SLXX.L has a 0.20% expense ratio, which is higher than VCPA.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
SLXX.L vs. VCPA.L - Dividend Comparison
SLXX.L's dividend yield for the trailing twelve months is around 4.93%, while VCPA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | 4.93% | 4.82% | 4.68% | 4.06% | 2.75% | 2.06% | 2.12% | 2.44% | 2.71% | 2.73% | 2.99% | 3.39% |
VCPA.L Vanguard USD Corporate Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLXX.L and VCPA.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCPA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCPA.L is cheaper with a 0.09% expense ratio, compared with 0.20% for SLXX.L.
SLXX.L tracks Markit iBoxx GBP Liquid Corporates Large Cap Index, while VCPA.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for SLXX.L and 0.09% for VCPA.L.
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