VCPA.L vs. SHYU.L
VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) and SHYU.L (iShares $ High Yield Corp Bond UCITS ETF) are both Corporate Bonds funds - VCPA.L tracks the Bloomberg US Corp Bond TR USD while SHYU.L tracks the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 5 years, VCPA.L returned -59.47%/yr vs 3.17%/yr for SHYU.L. A 0.66 correlation means they provide meaningful diversification when combined. VCPA.L charges 0.09%/yr vs 0.50%/yr for SHYU.L.
Performance
VCPA.L vs. SHYU.L - Performance Comparison
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Returns By Period
In the year-to-date period, VCPA.L achieves a 0.51% return, which is significantly higher than SHYU.L's -1.70% return.
VCPA.L
- 1D
- 0.29%
- 1M
- 1.41%
- YTD
- 0.51%
- 6M
- 0.27%
- 1Y
- -98.93%
- 3Y*
- -77.87%
- 5Y*
- -59.47%
- 10Y*
- —
SHYU.L
- 1D
- 0.16%
- 1M
- -0.19%
- YTD
- -1.70%
- 6M
- -1.85%
- 1Y
- 1.64%
- 3Y*
- 2.26%
- 5Y*
- 3.17%
- 10Y*
- 4.84%
VCPA.L vs. SHYU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | -1.70% | -4.17% | 8.56% | 4.72% | 2.04% | 4.96% | 1.60% | 6.08% |
Correlation
The correlation between VCPA.L and SHYU.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.66 |
The correlation between VCPA.L and SHYU.L shifts across timeframes, from 0.66 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCPA.L vs. SHYU.L — Risk / Return Rank
VCPA.L
SHYU.L
VCPA.L vs. SHYU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) and iShares $ High Yield Corp Bond UCITS ETF (SHYU.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.
| VCPA.L | SHYU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 0.31 | 1.05 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.25 | -1.25 |
| Martin ratioReturn relative to average drawdown | -1.21 | 0.43 | -1.64 |
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
| VCPA.L | SHYU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.24 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -1.32 | 0.39 | -1.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.24 | 0.59 | -1.83 |
Drawdowns
VCPA.L vs. SHYU.L - Drawdown Comparison
The maximum VCPA.L drawdown since its inception was -99.06%, which is greater than SHYU.L's maximum drawdown of -15.01%. Use the drawdown chart below to compare losses from any high point for VCPA.L and SHYU.L.
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Drawdown Indicators
| VCPA.L | SHYU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.06% | -15.01% | -84.05% |
Max Drawdown (1Y)Largest decline over 1 year | -99.02% | -6.61% | -92.41% |
Max Drawdown (3Y)Largest decline over 3 years | -99.04% | -11.08% | -87.96% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -11.08% | -87.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.01% | — |
Current DrawdownCurrent decline from peak | -99.03% | -9.14% | -89.89% |
Average DrawdownAverage peak-to-trough decline | -17.55% | -4.14% | -13.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 81.78% | 3.83% | +77.95% |
Volatility
VCPA.L vs. SHYU.L - Volatility Comparison
The current volatility for Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) is 1.53%, while iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) has a volatility of 1.72%. This indicates that VCPA.L experiences smaller price fluctuations and is considered to be less risky than SHYU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCPA.L | SHYU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.72% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.34% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.63% | 6.89% | +91.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.54% | 8.13% | +37.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.64% | 9.74% | +30.90% |
VCPA.L vs. SHYU.L - Expense Ratio Comparison
VCPA.L has a 0.09% expense ratio, which is lower than SHYU.L's 0.50% expense ratio.
Dividends
VCPA.L vs. SHYU.L - Dividend Comparison
Neither VCPA.L nor SHYU.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 6.32% | 5.76% | 4.82% | 4.27% | 5.16% | 5.58% | 5.52% | 5.74% | 5.16% | 5.87% |
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
VCPA.L and SHYU.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.50% for SHYU.L.
VCPA.L tracks Bloomberg US Corp Bond TR USD, while SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VCPA.L and 0.50% for SHYU.L.
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