USCR.L vs. VCPA.L

Last updated Jun 5, 2026

USCR.L (SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF) and VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from State Street and Vanguard respectively. Both are passively managed. Over the past 5 years, USCR.L returned 0.37%/yr vs -59.90%/yr for VCPA.L. A 0.71 correlation means they provide meaningful diversification when combined. USCR.L charges 0.15%/yr vs 0.09%/yr for VCPA.L.

Performance

USCR.L vs. VCPA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USCR.L is traded in USD, while VCPA.L is traded in GBP. To make them comparable, the VCPA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USCR.L achieves a 0.18% return, which is significantly lower than VCPA.L's 0.26% return.

USCR.L

• 1D: 0.26%
• 1M: 0.46%
• YTD: 0.18%
• 6M: 0.76%
• 1Y: 5.65%
• 3Y*: 5.01%
• 5Y*: 0.37%
• 10Y*: —

VCPA.L

• 1D: 0.34%
• 1M: 0.55%
• YTD: 0.26%
• 6M: 1.01%
• 1Y: -98.94%
• 3Y*: -77.30%
• 5Y*: -59.90%
• 10Y*: —

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

USCR.L vs. VCPA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF	0.18%	7.70%	2.19%	8.02%	-15.48%	-1.86%	2.28%
VCPA.L Vanguard USD Corporate Bond UCITS ETF Accumulating	0.26%	-98.92%	2.84%	7.52%	-15.06%	-0.81%	2.90%

Correlation

The correlation between USCR.L and VCPA.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020	0.71

The correlation between USCR.L and VCPA.L shifts across timeframes, from 0.61 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

USCR.L vs. VCPA.L — Risk / Return Rank

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

USCR.L

USCR.L Risk / Return Rank: 36
USCR.L Sharpe Ratio Rank: 34
USCR.L Sortino Ratio Rank: 34
USCR.L Omega Ratio Rank: 32
USCR.L Calmar Ratio Rank: 40
USCR.L Martin Ratio Rank: 38

VCPA.L

VCPA.L Risk / Return Rank: 2
VCPA.L Sharpe Ratio Rank: 1
VCPA.L Sortino Ratio Rank: 3
VCPA.L Omega Ratio Rank: 0
VCPA.L Calmar Ratio Rank: 0
VCPA.L Martin Ratio Rank: 3

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.

USCR.L vs. VCPA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.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.

	USCR.L	VCPA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	-1.00	+2.20
Sortino ratio: Return per unit of downside risk	1.75	-0.94	+2.70
Omega ratio: Gain probability vs. loss probability	1.21	0.29	+0.92
Calmar ratio: Return relative to maximum drawdown	1.95	-1.00	+2.95
Martin ratio: Return relative to average drawdown	5.91	-1.21	+7.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USCR.L vs. VCPA.L - Sharpe Ratio Comparison

The current USCR.L Sharpe Ratio is 1.20, which is higher than the VCPA.L Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of USCR.L and VCPA.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.

Sharpe Ratios by Period

	USCR.L	VCPA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	-1.00	+2.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	-1.34	+1.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	-1.24	+1.26

Drawdowns

USCR.L vs. VCPA.L - Drawdown Comparison

The maximum USCR.L drawdown since its inception was -22.42%, smaller than the maximum VCPA.L drawdown of -99.02%. Use the drawdown chart below to compare losses from any high point for USCR.L and VCPA.L.

Drawdown Indicators

	USCR.L	VCPA.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.42%	-99.02%	+76.60%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-99.01%	+96.12%
Max Drawdown (3Y) Largest decline over 3 years	-6.13%	-99.01%	+92.88%
Max Drawdown (5Y) Largest decline over 5 years	-22.42%	-99.02%	+76.60%
Current Drawdown Current decline from peak	-1.21%	-98.99%	+97.78%
Average Drawdown Average peak-to-trough decline	-8.32%	-17.31%	+8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	81.79%	-80.84%

Volatility

USCR.L vs. VCPA.L - Volatility Comparison

SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) have volatilities of 1.68% and 1.67%, 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.

Volatility by Period

	USCR.L	VCPA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	1.67%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	4.17%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	98.59%	-93.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	45.39%	-38.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.99%	40.56%	-33.57%

USCR.L vs. VCPA.L - Expense Ratio Comparison

USCR.L has a 0.15% 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

USCR.L vs. VCPA.L - Dividend Comparison

Neither USCR.L nor VCPA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USCR.L and VCPA.L in my portfolio?

USCR.L and VCPA.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USCR.L or VCPA.L?

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.

Which ETF is cheaper, USCR.L or VCPA.L?

VCPA.L is cheaper with a 0.09% expense ratio, compared with 0.15% for USCR.L.

What is the main difference between USCR.L and VCPA.L?

Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.15% for USCR.L and 0.09% for VCPA.L.