VDPA.L vs. CBS5.L

Last updated Jun 4, 2026

VDPA.L (Vanguard USD Corporate Bond UCITS ETF USD Accumulation) and CBS5.L (UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc) are both Corporate Bonds funds - VDPA.L tracks the Bloomberg Global Aggregate Corporate - United States Dollar Index while CBS5.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 3 years, VDPA.L returned 5.31%/yr vs 5.21%/yr for CBS5.L. At a 0.27 correlation, their price movements are largely independent. VDPA.L charges 0.07%/yr vs 0.20%/yr for CBS5.L.

Performance

VDPA.L vs. CBS5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard USD Corporate Bond UCITS ETF USD Accumulation (VDPA.L) and UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VDPA.L is traded in USD, while CBS5.L is traded in GBp. To make them comparable, the CBS5.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VDPA.L achieves a 0.11% return, which is significantly lower than CBS5.L's 0.19% return.

VDPA.L

• 1D: -0.35%
• 1M: 0.29%
• YTD: 0.11%
• 6M: 0.42%
• 1Y: 5.86%
• 3Y*: 5.31%
• 5Y*: 0.67%
• 10Y*: —

CBS5.L

• 1D: -0.09%
• 1M: 0.40%
• YTD: 0.19%
• 6M: 0.51%
• 1Y: 4.30%
• 3Y*: 5.21%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VDPA.L vs. CBS5.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VDPA.L Vanguard USD Corporate Bond UCITS ETF USD Accumulation	0.11%	7.78%	2.83%	8.05%	-3.13%
CBS5.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc	0.19%	7.30%	4.27%	5.56%	-0.80%

Correlation

The correlation between VDPA.L and CBS5.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022	0.27

Return for Risk

VDPA.L vs. CBS5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VDPA.L

VDPA.L Risk / Return Rank: 39
VDPA.L Sharpe Ratio Rank: 36
VDPA.L Sortino Ratio Rank: 36
VDPA.L Omega Ratio Rank: 35
VDPA.L Calmar Ratio Rank: 44
VDPA.L Martin Ratio Rank: 42

CBS5.L

CBS5.L Risk / Return Rank: 24
CBS5.L Sharpe Ratio Rank: 25
CBS5.L Sortino Ratio Rank: 25
CBS5.L Omega Ratio Rank: 23
CBS5.L Calmar Ratio Rank: 24
CBS5.L Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VDPA.L vs. CBS5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate Bond UCITS ETF USD Accumulation (VDPA.L) and UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.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.

	VDPA.L	CBS5.L	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.01	+0.28
Sortino ratio: Return per unit of downside risk	1.87	1.51	+0.35
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	2.16	2.16	0.00
Martin ratio: Return relative to average drawdown	6.76	7.49	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDPA.L vs. CBS5.L - Sharpe Ratio Comparison

The current VDPA.L Sharpe Ratio is 1.29, which is comparable to the CBS5.L Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of VDPA.L and CBS5.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VDPA.L	CBS5.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	1.01	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.68	-0.35

Drawdowns

VDPA.L vs. CBS5.L - Drawdown Comparison

The maximum VDPA.L drawdown since its inception was -21.43%, which is greater than CBS5.L's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for VDPA.L and CBS5.L.

Drawdown Indicators

	VDPA.L	CBS5.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.43%	-5.49%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-1.98%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-5.60%	-2.13%	-3.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.43%	—	—
Current Drawdown Current decline from peak	-1.10%	-0.89%	-0.21%
Average Drawdown Average peak-to-trough decline	-5.98%	-0.90%	-5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.57%	+0.29%

Volatility

VDPA.L vs. CBS5.L - Volatility Comparison

Vanguard USD Corporate Bond UCITS ETF USD Accumulation (VDPA.L) has a higher volatility of 1.80% compared to UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L) at 1.43%. This indicates that VDPA.L's price experiences larger fluctuations and is considered to be riskier than CBS5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDPA.L	CBS5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	1.43%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	3.59%	3.34%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.54%	4.23%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	5.91%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.78%	5.91%	+2.87%

VDPA.L vs. CBS5.L - Expense Ratio Comparison

VDPA.L has a 0.07% expense ratio, which is lower than CBS5.L's 0.20% 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

VDPA.L vs. CBS5.L - Dividend Comparison

Neither VDPA.L nor CBS5.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VDPA.L and CBS5.L in my portfolio?

VDPA.L and CBS5.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VDPA.L or CBS5.L?

On fees, VDPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VDPA.L or CBS5.L?

VDPA.L is cheaper with a 0.07% expense ratio, compared with 0.20% for CBS5.L.

What is the main difference between VDPA.L and CBS5.L?

VDPA.L tracks Bloomberg Global Aggregate Corporate - United States Dollar Index, while CBS5.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.07% for VDPA.L and 0.20% for CBS5.L.