UNCU.L vs. VHYD.L

Last updated Jul 18, 2026

UNCU.L (First Trust US Equity Income UCITS ETF USD (Acc)) and VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both Dividend funds - UNCU.L tracks the Nasdaq US High Equity Income NTR Index while VHYD.L tracks the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 5 years, UNCU.L returned 10.32%/yr vs 11.48%/yr for VHYD.L. A 0.63 correlation means they provide meaningful diversification when combined. UNCU.L charges 0.55%/yr vs 0.29%/yr for VHYD.L.

Performance

UNCU.L vs. VHYD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) and Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UNCU.L achieves a 19.69% return, which is significantly higher than VHYD.L's 13.12% return.

UNCU.L

• 1D: 0.06%
• 1M: 5.64%
• 6M: 16.43%
• YTD: 19.69%
• 1Y: 26.45%
• 3Y*: 15.54%
• 5Y*: 10.32%
• 10Y*: —

VHYD.L

• 1D: -0.32%
• 1M: -0.06%
• 6M: 9.85%
• YTD: 13.12%
• 1Y: 25.95%
• 3Y*: 17.92%
• 5Y*: 11.48%
• 10Y*: 9.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UNCU.L vs. VHYD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UNCU.L First Trust US Equity Income UCITS ETF USD (Acc)	19.69%	7.54%	6.63%	17.16%	-6.91%	32.03%	1.33%	17.33%	-8.34%	15.56%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	13.12%	27.03%	9.32%	11.43%	-5.45%	17.84%	-0.31%	20.75%	-11.71%	11.43%

Correlation

The correlation between UNCU.L and VHYD.L is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since May 9, 2017	0.63

The correlation between UNCU.L and VHYD.L shifts across timeframes, from 0.57 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

UNCU.L vs. VHYD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UNCU.L

UNCU.L Risk / Return Rank: 83
UNCU.L Sharpe Ratio Rank: 85
UNCU.L Sortino Ratio Rank: 88
UNCU.L Omega Ratio Rank: 79
UNCU.L Calmar Ratio Rank: 89
UNCU.L Martin Ratio Rank: 76

VHYD.L

VHYD.L Risk / Return Rank: 86
VHYD.L Sharpe Ratio Rank: 90
VHYD.L Sortino Ratio Rank: 91
VHYD.L Omega Ratio Rank: 89
VHYD.L Calmar Ratio Rank: 80
VHYD.L Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UNCU.L vs. VHYD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) and Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	UNCU.L	VHYD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.40	-0.33
Sortino ratio: Return per unit of downside risk	3.15	3.45	-0.30
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	3.93	3.34	+0.59
Martin ratio: Return relative to average drawdown	10.37	11.97	-1.60

UNCU.L vs. VHYD.L - Sharpe Ratio Comparison

The current UNCU.L Sharpe Ratio is 2.07, which is comparable to the VHYD.L Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of UNCU.L and VHYD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UNCU.L vs. VHYD.L - Drawdown Comparison

The maximum UNCU.L drawdown since its inception was -45.45%, which is greater than VHYD.L's maximum drawdown of -36.60%. Use the drawdown chart below to compare losses from any high point for UNCU.L and VHYD.L.

Drawdown Indicators

	UNCU.L	VHYD.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.45%	-36.60%	-8.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-7.74%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-21.42%	-12.48%	-8.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.42%	-20.89%	-0.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.60%	—
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-6.93%	-5.28%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.16%	+0.38%

Volatility

UNCU.L vs. VHYD.L - Volatility Comparison

First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) has a higher volatility of 3.90% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) at 2.45%. This indicates that UNCU.L's price experiences larger fluctuations and is considered to be riskier than VHYD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UNCU.L	VHYD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	2.45%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	8.92%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	10.78%	+1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.83%	13.61%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	15.18%	+6.98%

UNCU.L vs. VHYD.L - Expense Ratio Comparison

UNCU.L has a 0.55% expense ratio, which is higher than VHYD.L's 0.29% expense ratio.

Dividends

UNCU.L vs. VHYD.L - Dividend Comparison

UNCU.L has not paid dividends to shareholders, while VHYD.L's dividend yield for the trailing twelve months is around 2.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UNCU.L First Trust US Equity Income UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	2.51%	2.77%	3.15%	3.31%	3.72%	3.14%	2.90%	3.23%	3.77%	2.96%	3.16%	3.32%

Frequently Asked Questions

Can I hold both UNCU.L and VHYD.L in my portfolio?

UNCU.L and VHYD.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UNCU.L or VHYD.L?

On fees, VHYD.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UNCU.L or VHYD.L?

VHYD.L is cheaper with a 0.29% expense ratio, compared with 0.55% for UNCU.L.

What is the main difference between UNCU.L and VHYD.L?

UNCU.L tracks Nasdaq US High Equity Income NTR Index, while VHYD.L tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.55% for UNCU.L and 0.29% for VHYD.L.