VAGP.L vs. VUCP.L
VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both exchange-traded funds - VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, VAGP.L returned -0.24%/yr vs 1.01%/yr for VUCP.L. At a 0.36 correlation, their price movements are largely independent. VAGP.L charges 0.10%/yr vs 0.09%/yr for VUCP.L.
Performance
VAGP.L vs. VUCP.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGP.L achieves a 0.19% return, which is significantly higher than VUCP.L's 0.04% return.
VAGP.L
- 1D
- 0.29%
- 1M
- 0.35%
- YTD
- 0.19%
- 6M
- 0.36%
- 1Y
- 3.24%
- 3Y*
- 3.74%
- 5Y*
- -0.24%
- 10Y*
- —
VUCP.L
- 1D
- 0.29%
- 1M
- 1.42%
- YTD
- 0.04%
- 6M
- -0.47%
- 1Y
- 5.40%
- 3Y*
- 1.87%
- 5Y*
- 1.01%
- 10Y*
- 2.70%
VAGP.L vs. VUCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.19% | 4.96% | 2.51% | 5.84% | -13.81% | -2.03% | 5.31% | 2.30% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 0.04% | -0.91% | 4.32% | 1.29% | -5.38% | -0.63% | 4.96% | -0.11% |
Correlation
The correlation between VAGP.L and VUCP.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.36 |
The correlation between VAGP.L and VUCP.L shifts across timeframes, from 0.19 (1 year) to 0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAGP.L vs. VUCP.L — Risk / Return Rank
VAGP.L
VUCP.L
VAGP.L vs. VUCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) and Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.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.
| VAGP.L | VUCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.15 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.08 | +0.08 |
| Martin ratioReturn relative to average drawdown | 3.41 | 2.44 | +0.97 |
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
| VAGP.L | VUCP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.90 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.12 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.27 | -0.15 |
Drawdowns
VAGP.L vs. VUCP.L - Drawdown Comparison
The maximum VAGP.L drawdown since its inception was -18.13%, which is greater than VUCP.L's maximum drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for VAGP.L and VUCP.L.
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Drawdown Indicators
| VAGP.L | VUCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -16.84% | -1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -5.00% | +2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -4.04% | -9.00% | +4.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -13.14% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.84% | — |
Current DrawdownCurrent decline from peak | -3.76% | -7.67% | +3.91% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -7.67% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.21% | -1.26% |
Volatility
VAGP.L vs. VUCP.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) is 1.43%, while Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a volatility of 1.62%. This indicates that VAGP.L experiences smaller price fluctuations and is considered to be less risky than VUCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGP.L | VUCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.62% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 4.46% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 5.99% | -2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 8.51% | -3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 9.92% | -5.42% |
VAGP.L vs. VUCP.L - Expense Ratio Comparison
VAGP.L has a 0.10% expense ratio, which is higher than VUCP.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
VAGP.L vs. VUCP.L - Dividend Comparison
VAGP.L's dividend yield for the trailing twelve months is around 3.55%, less than VUCP.L's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% | 0.00% | 0.00% | 0.00% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 3.85% | 4.02% | 4.73% | 3.57% | 2.79% | 1.85% | 2.36% | 2.64% | 2.58% | 2.57% | 1.73% |
Frequently Asked Questions
VAGP.L and VUCP.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUCP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUCP.L is cheaper with a 0.09% expense ratio, compared with 0.10% for VAGP.L.
VAGP.L is categorized as Global Bonds, while VUCP.L is Corporate Bonds. VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP, while VUCP.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.10% for VAGP.L and 0.09% for VUCP.L.
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