VCPA.L vs. SUSD.L
VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) and SUSD.L (SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF) are both Corporate Bonds funds - VCPA.L tracks the Bloomberg US Corp Bond TR USD while SUSD.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, VCPA.L returned -59.47%/yr vs 4.04%/yr for SUSD.L. A 0.67 correlation means they provide meaningful diversification when combined. VCPA.L charges 0.09%/yr vs 0.12%/yr for SUSD.L.
Performance
VCPA.L vs. SUSD.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 lower than SUSD.L's 1.34% 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*
- —
SUSD.L
- 1D
- 0.05%
- 1M
- 1.28%
- YTD
- 1.34%
- 6M
- 0.97%
- 1Y
- 5.41%
- 3Y*
- 2.52%
- 5Y*
- 4.04%
- 10Y*
- 3.36%
VCPA.L vs. SUSD.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% |
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 1.34% | -1.69% | 7.18% | -0.46% | 9.68% | 1.10% | -0.39% | 2.94% |
Correlation
The correlation between VCPA.L and SUSD.L is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.67 |
The correlation between VCPA.L and SUSD.L shifts across timeframes, from 0.67 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCPA.L vs. SUSD.L — Risk / Return Rank
VCPA.L
SUSD.L
VCPA.L vs. SUSD.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 SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.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 | SUSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 0.31 | 1.15 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.26 | -2.26 |
| Martin ratioReturn relative to average drawdown | -1.21 | 3.31 | -4.52 |
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 | SUSD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.87 | -1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -1.32 | 0.49 | -1.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.24 | 0.40 | -1.64 |
Drawdowns
VCPA.L vs. SUSD.L - Drawdown Comparison
The maximum VCPA.L drawdown since its inception was -99.06%, which is greater than SUSD.L's maximum drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for VCPA.L and SUSD.L.
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Drawdown Indicators
| VCPA.L | SUSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.06% | -15.18% | -83.88% |
Max Drawdown (1Y)Largest decline over 1 year | -99.02% | -4.27% | -94.75% |
Max Drawdown (3Y)Largest decline over 3 years | -99.04% | -9.03% | -90.01% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -15.18% | -83.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.18% | — |
Current DrawdownCurrent decline from peak | -99.03% | -3.84% | -95.19% |
Average DrawdownAverage peak-to-trough decline | -17.55% | -5.84% | -11.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 81.78% | 1.63% | +80.15% |
Volatility
VCPA.L vs. SUSD.L - Volatility Comparison
The current volatility for Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) is 1.53%, while SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.L) has a volatility of 1.75%. This indicates that VCPA.L experiences smaller price fluctuations and is considered to be less risky than SUSD.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 | SUSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.75% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.50% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.63% | 6.19% | +92.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.54% | 8.17% | +37.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.64% | 9.23% | +31.41% |
VCPA.L vs. SUSD.L - Expense Ratio Comparison
VCPA.L has a 0.09% expense ratio, which is lower than SUSD.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCPA.L vs. SUSD.L - Dividend Comparison
VCPA.L has not paid dividends to shareholders, while SUSD.L's dividend yield for the trailing twelve months is around 4.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 4.60% | 4.91% | 4.20% | 3.11% | 1.14% | 1.80% | 2.77% | 2.57% | 1.66% | 1.74% | 1.28% | 1.00% |
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 SUSD.L have a correlation of 0.78, 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 0.12% for SUSD.L.
VCPA.L tracks Bloomberg US Corp Bond TR USD, while SUSD.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.09% for VCPA.L and 0.12% for SUSD.L.
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