UKCO.L vs. VECP.L
UKCO.L (SPDR Bloomberg Sterling Corporate Bond UCITS ETF) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both European Corporate Bonds funds - UKCO.L tracks the Markit iBoxx GBP NonGilts TR while VECP.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, UKCO.L returned 1.34%/yr vs 2.41%/yr for VECP.L. At a 0.39 correlation, their price movements are largely independent. UKCO.L charges 0.20%/yr vs 0.09%/yr for VECP.L.
Performance
UKCO.L vs. VECP.L - Performance Comparison
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Returns By Period
In the year-to-date period, UKCO.L achieves a -2.41% return, which is significantly lower than VECP.L's -0.48% return. Over the past 10 years, UKCO.L has underperformed VECP.L with an annualized return of 1.34%, while VECP.L has yielded a comparatively higher 2.41% annualized return.
UKCO.L
- 1D
- 0.32%
- 1M
- 1.04%
- YTD
- -2.41%
- 6M
- -1.98%
- 1Y
- -0.03%
- 3Y*
- 4.33%
- 5Y*
- -1.76%
- 10Y*
- 1.34%
VECP.L
- 1D
- 0.27%
- 1M
- 0.42%
- YTD
- -0.48%
- 6M
- -0.38%
- 1Y
- 4.96%
- 3Y*
- 4.97%
- 5Y*
- 0.73%
- 10Y*
- 2.41%
UKCO.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | -2.41% | 4.42% | 1.65% | 8.85% | -19.34% | -3.36% | 8.76% | 11.28% | -2.44% | 4.28% |
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 UKCO.L and VECP.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.39 |
The correlation between UKCO.L and VECP.L shifts across timeframes, from 0.28 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UKCO.L vs. VECP.L — Risk / Return Rank
UKCO.L
VECP.L
UKCO.L vs. VECP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.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.
| UKCO.L | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.16 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.21 | -1.22 |
| Martin ratioReturn relative to average drawdown | -0.02 | 3.08 | -3.10 |
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
| UKCO.L | VECP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.97 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 0.12 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.32 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.33 | +0.07 |
Drawdowns
UKCO.L vs. VECP.L - Drawdown Comparison
The maximum UKCO.L drawdown since its inception was -30.79%, which is greater than VECP.L's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for UKCO.L and VECP.L.
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Drawdown Indicators
| UKCO.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.79% | -20.56% | -10.23% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | -3.86% | -2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -3.86% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -29.89% | -16.13% | -13.76% |
Max Drawdown (10Y)Largest decline over 10 years | -30.79% | -20.56% | -10.23% |
Current DrawdownCurrent decline from peak | -12.38% | -3.44% | -8.94% |
Average DrawdownAverage peak-to-trough decline | -6.60% | -7.60% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 1.52% | +1.18% |
Volatility
UKCO.L vs. VECP.L - Volatility Comparison
SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) has a higher volatility of 2.30% compared to Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) at 1.45%. This indicates that UKCO.L's price experiences larger fluctuations and is considered to be riskier 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
| UKCO.L | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.45% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 3.64% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.55% | 4.82% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.96% | 6.17% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 7.58% | +0.71% |
UKCO.L vs. VECP.L - Expense Ratio Comparison
UKCO.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
UKCO.L vs. VECP.L - Dividend Comparison
UKCO.L has not paid dividends to shareholders, while VECP.L's dividend yield for the trailing twelve months is around 3.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | 0.00% | 2.16% | 4.11% | 3.30% | 2.79% | 2.28% | 2.40% | 2.51% | 2.69% | 3.09% | 3.17% | 3.50% |
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
UKCO.L and VECP.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 UKCO.L.
UKCO.L tracks Markit iBoxx GBP NonGilts TR, while VECP.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for UKCO.L and 0.09% for VECP.L.
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