UC84.L vs. VCPA.L
UC84.L (UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis) and VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from UBS and Vanguard respectively. Both are passively managed. Over the past 5 years, UC84.L returned 1.22%/yr vs -59.47%/yr for VCPA.L. Their correlation of 0.86 suggests significant overlap in exposure. UC84.L charges 0.18%/yr vs 0.09%/yr for VCPA.L.
Performance
UC84.L vs. VCPA.L - Performance Comparison
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Different Trading Currencies
UC84.L is traded in GBp, while VCPA.L is traded in GBP. To make them comparable, the VCPA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC84.L achieves a 0.32% return, which is significantly lower than VCPA.L's 0.51% return.
UC84.L
- 1D
- 0.23%
- 1M
- 1.54%
- YTD
- 0.32%
- 6M
- -0.15%
- 1Y
- 6.36%
- 3Y*
- 2.40%
- 5Y*
- 1.22%
- 10Y*
- 3.15%
VCPA.L
- 1D
- 0.29%
- 1M
- 1.41%
- YTD
- 0.51%
- 6M
- 0.27%
- 1Y
- -98.93%
- 3Y*
- -77.87%
- 5Y*
- -59.47%
- 10Y*
- —
UC84.L vs. VCPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis | 0.32% | 0.41% | 3.96% | 2.43% | -7.77% | -0.84% | 6.02% | 12.95% |
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 UC84.L and VCPA.L is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.86 |
The correlation between UC84.L and VCPA.L shifts across timeframes, from 0.86 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UC84.L vs. VCPA.L — Risk / Return Rank
UC84.L
VCPA.L
UC84.L vs. VCPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.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.
| UC84.L | VCPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.31 | +0.88 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | -1.00 | +2.31 |
| Martin ratioReturn relative to average drawdown | 3.20 | -1.21 | +4.42 |
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
| UC84.L | VCPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | -1.00 | +2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | -1.32 | +1.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | -1.24 | +1.63 |
Drawdowns
UC84.L vs. VCPA.L - Drawdown Comparison
The maximum UC84.L drawdown since its inception was -18.73%, smaller than the maximum VCPA.L drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for UC84.L and VCPA.L.
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Drawdown Indicators
| UC84.L | VCPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.73% | -99.06% | +80.33% |
Max Drawdown (1Y)Largest decline over 1 year | -4.83% | -99.02% | +94.19% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -99.04% | +90.52% |
Max Drawdown (5Y)Largest decline over 5 years | -14.49% | -99.04% | +84.55% |
Max Drawdown (10Y)Largest decline over 10 years | -18.73% | — | — |
Current DrawdownCurrent decline from peak | -8.33% | -99.03% | +90.70% |
Average DrawdownAverage peak-to-trough decline | -8.19% | -17.55% | +9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 81.78% | -79.80% |
Volatility
UC84.L vs. VCPA.L - Volatility Comparison
UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) have volatilities of 1.50% and 1.53%, 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.
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Volatility by Period
| UC84.L | VCPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.53% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 4.41% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.08% | 98.63% | -92.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.08% | 45.54% | -36.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.40% | 40.64% | -30.24% |
UC84.L vs. VCPA.L - Expense Ratio Comparison
UC84.L has a 0.18% 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
UC84.L vs. VCPA.L - Dividend Comparison
UC84.L's dividend yield for the trailing twelve months is around 5.52%, while VCPA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis | 5.52% | 4.82% | 4.55% | 4.27% | 2.69% | 2.28% | 3.02% | 3.48% | 3.37% | 2.98% | 3.21% | 1.40% |
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
With a correlation of 0.96, UC84.L and VCPA.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, 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 0.18% for UC84.L.
Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.18% for UC84.L and 0.09% for VCPA.L.
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