VDCA.L vs. IBTS.L
VDCA.L (Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both exchange-traded funds - VDCA.L is a Short-Term Bond fund tracking the Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3 Year, while IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 5 years, VDCA.L returned 2.55%/yr vs 1.86%/yr for IBTS.L. At a 0.12 correlation, their price movements are largely independent. VDCA.L charges 0.09%/yr vs 0.07%/yr for IBTS.L.
Performance
VDCA.L vs. IBTS.L - Performance Comparison
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Different Trading Currencies
VDCA.L is traded in USD, while IBTS.L is traded in GBP. To make them comparable, the IBTS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VDCA.L achieves a 0.68% return, which is significantly higher than IBTS.L's 0.40% return.
VDCA.L
- 1D
- -0.09%
- 1M
- 0.05%
- YTD
- 0.68%
- 6M
- 1.01%
- 1Y
- 4.12%
- 3Y*
- 5.27%
- 5Y*
- 2.55%
- 10Y*
- —
IBTS.L
- 1D
- 0.19%
- 1M
- 0.27%
- YTD
- 0.40%
- 6M
- 1.03%
- 1Y
- 3.48%
- 3Y*
- 4.15%
- 5Y*
- 1.86%
- 10Y*
- 1.78%
VDCA.L vs. IBTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VDCA.L Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation | 0.68% | 5.87% | 5.54% | 5.39% | -3.80% | -0.21% | 3.56% | 4.32% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.40% | 5.49% | 4.03% | 3.79% | -3.90% | -0.27% | 2.72% | 3.78% |
Correlation
The correlation between VDCA.L and IBTS.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.12 |
The correlation between VDCA.L and IBTS.L shifts across timeframes, from 0.04 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VDCA.L vs. IBTS.L — Risk / Return Rank
VDCA.L
IBTS.L
VDCA.L vs. IBTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation (VDCA.L) and iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.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.
| VDCA.L | IBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.15 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 3.24 | +1.82 |
| Martin ratioReturn relative to average drawdown | 19.78 | 9.38 | +10.40 |
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
| VDCA.L | IBTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 0.85 | +1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.37 | +0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.37 | +0.46 |
Drawdowns
VDCA.L vs. IBTS.L - Drawdown Comparison
The maximum VDCA.L drawdown since its inception was -9.85%, which is greater than IBTS.L's maximum drawdown of -7.24%. Use the drawdown chart below to compare losses from any high point for VDCA.L and IBTS.L.
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Drawdown Indicators
| VDCA.L | IBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.85% | -7.24% | -2.61% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -1.07% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -1.44% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -6.43% | -6.87% | +0.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.24% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.38% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -1.16% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.37% | -0.16% |
Volatility
VDCA.L vs. IBTS.L - Volatility Comparison
The current volatility for Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation (VDCA.L) is 0.56%, while iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) has a volatility of 1.34%. This indicates that VDCA.L experiences smaller price fluctuations and is considered to be less risky than IBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VDCA.L | IBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 1.34% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 3.29% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.57% | 4.08% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.11% | 5.02% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 5.07% | -1.61% |
VDCA.L vs. IBTS.L - Expense Ratio Comparison
VDCA.L has a 0.09% expense ratio, which is higher than IBTS.L's 0.07% 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
VDCA.L vs. IBTS.L - Dividend Comparison
VDCA.L has not paid dividends to shareholders, while IBTS.L's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.99% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
VDCA.L Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation | 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
VDCA.L and IBTS.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.09% for VDCA.L.
VDCA.L is categorized as Short-Term Bond, while IBTS.L is Government Bonds. VDCA.L tracks Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3 Year, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VDCA.L and 0.07% for IBTS.L.
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