VCPA.L vs. VUCP.L
VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both Corporate Bonds funds from Vanguard tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, VCPA.L returned -59.47%/yr vs 1.01%/yr for VUCP.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.
Performance
VCPA.L vs. VUCP.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 VUCP.L's 0.04% 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*
- —
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%
VCPA.L vs. VUCP.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% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 0.04% | -0.91% | 4.32% | 1.29% | -5.38% | -0.63% | 4.96% | 9.98% |
Correlation
The correlation between VCPA.L and VUCP.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.88 |
The correlation between VCPA.L and VUCP.L has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
VCPA.L vs. VUCP.L — Risk / Return Rank
VCPA.L
VUCP.L
VCPA.L vs. VUCP.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 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.
| VCPA.L | VUCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 0.31 | 1.15 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.08 | -2.08 |
| Martin ratioReturn relative to average drawdown | -1.21 | 2.44 | -3.65 |
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 | VUCP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.90 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -1.32 | 0.12 | -1.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.24 | 0.27 | -1.51 |
Drawdowns
VCPA.L vs. VUCP.L - Drawdown Comparison
The maximum VCPA.L drawdown since its inception was -99.06%, 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 VCPA.L and VUCP.L.
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Drawdown Indicators
| VCPA.L | VUCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.06% | -16.84% | -82.22% |
Max Drawdown (1Y)Largest decline over 1 year | -99.02% | -5.00% | -94.02% |
Max Drawdown (3Y)Largest decline over 3 years | -99.04% | -9.00% | -90.04% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -13.14% | -85.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.84% | — |
Current DrawdownCurrent decline from peak | -99.03% | -7.67% | -91.36% |
Average DrawdownAverage peak-to-trough decline | -17.55% | -7.67% | -9.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 81.78% | 2.21% | +79.57% |
Volatility
VCPA.L vs. VUCP.L - Volatility Comparison
The current volatility for Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) is 1.53%, while Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a volatility of 1.62%. This indicates that VCPA.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
| VCPA.L | VUCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.62% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.46% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.63% | 5.99% | +92.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.54% | 8.51% | +37.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.64% | 9.92% | +30.72% |
VCPA.L vs. VUCP.L - Expense Ratio Comparison
Both VCPA.L and VUCP.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCPA.L vs. VUCP.L - Dividend Comparison
VCPA.L has not paid dividends to shareholders, while VUCP.L's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
With a correlation of 0.94, VCPA.L and VUCP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VCPA.L and VUCP.L have the same expense ratio: 0.09% per year.
Both ETFs track Bloomberg US Corp Bond TR USD.
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