TLH vs. VECA.L
TLH (iShares 10-20 Year Treasury Bond ETF) and VECA.L (Vanguard EUR Corporate Bond UCITS ETF Accumulating) are both exchange-traded funds - TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index, while VECA.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 5 years, TLH returned -3.89%/yr vs -0.83%/yr for VECA.L. At a 0.30 correlation, their price movements are largely independent. TLH charges 0.15%/yr vs 0.09%/yr for VECA.L.
Performance
TLH vs. VECA.L - Performance Comparison
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Different Trading Currencies
TLH is traded in USD, while VECA.L is traded in GBP. To make them comparable, the VECA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TLH achieves a -0.95% return, which is significantly lower than VECA.L's -0.68% return.
TLH
- 1D
- -0.62%
- 1M
- -1.02%
- YTD
- -0.95%
- 6M
- -1.04%
- 1Y
- 3.54%
- 3Y*
- 0.36%
- 5Y*
- -3.89%
- 10Y*
- -0.87%
VECA.L
- 1D
- 0.31%
- 1M
- -0.87%
- YTD
- -0.68%
- 6M
- 0.31%
- 1Y
- 3.86%
- 3Y*
- 7.36%
- 5Y*
- -0.83%
- 10Y*
- —
TLH vs. VECA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | -0.95% | 6.47% | -4.21% | 4.03% | -25.24% | -5.38% | 13.78% | 10.10% |
VECA.L Vanguard EUR Corporate Bond UCITS ETF Accumulating | -0.67% | 16.56% | -2.05% | 11.03% | -18.33% | -8.32% | 11.64% | 3.98% |
Correlation
The correlation between TLH and VECA.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.30 |
The correlation between TLH and VECA.L shifts across timeframes, from 0.30 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TLH vs. VECA.L — Risk / Return Rank
TLH
VECA.L
TLH vs. VECA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.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.
| TLH | VECA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 0.55 | 0.00 |
| Martin ratioReturn relative to average drawdown | 1.50 | 1.56 | -0.07 |
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
| TLH | VECA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 0.48 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | -0.09 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.13 | +0.14 |
Drawdowns
TLH vs. VECA.L - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, which is greater than VECA.L's maximum drawdown of -34.75%. Use the drawdown chart below to compare losses from any high point for TLH and VECA.L.
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Drawdown Indicators
| TLH | VECA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -34.75% | -6.39% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -6.67% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -8.48% | -6.87% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -33.57% | -1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | — | — |
Current DrawdownCurrent decline from peak | -30.13% | -6.19% | -23.94% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -11.80% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.34% | +0.03% |
Volatility
TLH vs. VECA.L - Volatility Comparison
iShares 10-20 Year Treasury Bond ETF (TLH) has a higher volatility of 2.37% compared to Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.L) at 2.23%. This indicates that TLH's price experiences larger fluctuations and is considered to be riskier than VECA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLH | VECA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 2.23% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 5.88% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 7.67% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 9.54% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 9.44% | +1.75% |
TLH vs. VECA.L - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is higher than VECA.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
TLH vs. VECA.L - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.50%, while VECA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | 4.50% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
VECA.L Vanguard EUR 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
TLH and VECA.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VECA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VECA.L is cheaper with a 0.09% expense ratio, compared with 0.15% for TLH.
TLH is categorized as Government Bonds, while VECA.L is European Corporate Bonds. TLH tracks ICE U.S. Treasury 10-20 Year Bond Index, while VECA.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for TLH and 0.09% for VECA.L.
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