VDPA.L vs. ERND.L
VDPA.L (Vanguard USD Corporate Bond UCITS ETF USD Accumulation) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - VDPA.L is a Corporate Bonds fund tracking the Bloomberg Global Aggregate Corporate - United States Dollar Index, while ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). Both are passively managed. Over the past 5 years, VDPA.L returned 0.25%/yr vs 3.83%/yr for ERND.L. At a 0.13 correlation, their price movements are largely independent. VDPA.L charges 0.07%/yr vs 0.09%/yr for ERND.L.
Performance
VDPA.L vs. ERND.L - Performance Comparison
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Returns By Period
In the year-to-date period, VDPA.L achieves a -0.03% return, which is significantly lower than ERND.L's 2.00% return.
VDPA.L
- 1D
- 0.21%
- 1M
- -0.36%
- 6M
- -0.21%
- YTD
- -0.03%
- 1Y
- 4.77%
- 3Y*
- 5.05%
- 5Y*
- 0.25%
- 10Y*
- —
ERND.L
- 1D
- -0.02%
- 1M
- 0.30%
- 6M
- 1.83%
- YTD
- 2.00%
- 1Y
- 4.19%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
VDPA.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VDPA.L Vanguard USD Corporate Bond UCITS ETF USD Accumulation | -0.03% | 7.78% | 2.82% | 8.06% | -14.88% | -1.21% | 9.15% | 11.61% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 1.21% | 2.44% |
Correlation
The correlation between VDPA.L and ERND.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.13 |
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Return for Risk
VDPA.L vs. ERND.L — Risk / Return Rank
VDPA.L
ERND.L
VDPA.L vs. ERND.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 iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VDPA.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.15 | ||
| Sortino ratioReturn per unit of downside risk | -7.43 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 2.31 | -1.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 20.61 | -18.86 |
| Martin ratioReturn relative to average drawdown | 5.23 | 101.10 | -95.87 |
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Drawdowns
VDPA.L vs. ERND.L - Drawdown Comparison
The maximum VDPA.L drawdown since its inception was -21.43%, which is greater than ERND.L's maximum drawdown of -7.48%. Use the drawdown chart below to compare losses from any high point for VDPA.L and ERND.L.
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Drawdown Indicators
| VDPA.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.43% | -7.48% | -13.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -0.20% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -0.64% | -4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.43% | -1.06% | -20.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.48% | — |
Current DrawdownCurrent decline from peak | -1.24% | -0.02% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -5.89% | -0.08% | -5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.04% | +0.87% |
Volatility
VDPA.L vs. ERND.L - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF USD Accumulation (VDPA.L) has a higher volatility of 0.97% compared to iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) at 0.21%. This indicates that VDPA.L's price experiences larger fluctuations and is considered to be riskier than ERND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VDPA.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.21% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 0.66% | +2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 0.79% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.86% | 1.26% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.71% | 2.08% | +6.63% |
VDPA.L vs. ERND.L - Expense Ratio Comparison
VDPA.L has a 0.07% expense ratio, which is lower than ERND.L's 0.09% 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. ERND.L - Dividend Comparison
VDPA.L has not paid dividends to shareholders, while ERND.L's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
VDPA.L Vanguard USD Corporate 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
VDPA.L and ERND.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
VDPA.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERND.L.
VDPA.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. VDPA.L tracks Bloomberg Global Aggregate Corporate - United States Dollar Index, while ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VDPA.L and 0.09% for ERND.L.
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