VDCA.L vs. XUT3.L
VDCA.L (Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) 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 XUT3.L is a Government Bonds fund tracking the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, VDCA.L returned 2.55%/yr vs 1.86%/yr for XUT3.L. A 0.60 correlation means they provide meaningful diversification when combined. VDCA.L charges 0.09%/yr vs 0.06%/yr for XUT3.L.
Performance
VDCA.L vs. XUT3.L - Performance Comparison
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Returns By Period
In the year-to-date period, VDCA.L achieves a 0.68% return, which is significantly higher than XUT3.L's 0.54% 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*
- —
XUT3.L
- 1D
- 0.10%
- 1M
- 0.12%
- YTD
- 0.54%
- 6M
- 0.93%
- 1Y
- 3.45%
- 3Y*
- 4.17%
- 5Y*
- 1.86%
- 10Y*
- 1.74%
VDCA.L vs. XUT3.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% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.54% | 5.06% | 4.13% | 4.10% | -3.60% | -0.62% | 2.95% | 3.22% |
Correlation
The correlation between VDCA.L and XUT3.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.60 |
The correlation between VDCA.L and XUT3.L shifts across timeframes, from 0.56 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VDCA.L vs. XUT3.L — Risk / Return Rank
VDCA.L
XUT3.L
VDCA.L vs. XUT3.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 Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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 | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.67 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 5.10 | -0.03 |
| Martin ratioReturn relative to average drawdown | 19.78 | 20.02 | -0.23 |
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 | XUT3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 3.06 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.98 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 1.14 | -0.31 |
Drawdowns
VDCA.L vs. XUT3.L - Drawdown Comparison
The maximum VDCA.L drawdown since its inception was -9.85%, which is greater than XUT3.L's maximum drawdown of -5.45%. Use the drawdown chart below to compare losses from any high point for VDCA.L and XUT3.L.
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Drawdown Indicators
| VDCA.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.85% | -5.45% | -4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -0.67% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -0.91% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -6.43% | -5.45% | -0.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.45% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.12% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -0.72% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.17% | +0.04% |
Volatility
VDCA.L vs. XUT3.L - Volatility Comparison
Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD Accumulation (VDCA.L) has a higher volatility of 0.56% compared to Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) at 0.41%. This indicates that VDCA.L's price experiences larger fluctuations and is considered to be riskier than XUT3.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 | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 0.41% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 0.80% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.57% | 1.13% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.11% | 1.90% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 1.50% | +1.96% |
VDCA.L vs. XUT3.L - Expense Ratio Comparison
VDCA.L has a 0.09% expense ratio, which is higher than XUT3.L's 0.06% 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. XUT3.L - Dividend Comparison
VDCA.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% |
Frequently Asked Questions
VDCA.L and XUT3.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.09% for VDCA.L.
VDCA.L is categorized as Short-Term Bond, while XUT3.L is Government Bonds. VDCA.L tracks Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3 Year, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.09% for VDCA.L and 0.06% for XUT3.L.
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