VECA.DE vs. SPBO
VECA.DE (Vanguard EUR Corporate Bond UCITS ETF Accumulating) and SPBO (SPDR Portfolio Corporate Bond ETF) are both exchange-traded funds - VECA.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR, while SPBO is a Corporate Bonds fund tracking the Bloomberg Barclays U.S. Corporate Bond Index. Both are passively managed. Over the past 5 years, VECA.DE returned 0.24%/yr vs 1.63%/yr for SPBO. At a 0.34 correlation, their price movements are largely independent. VECA.DE charges 0.09%/yr vs 0.03%/yr for SPBO.
Performance
VECA.DE vs. SPBO - Performance Comparison
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Different Trading Currencies
VECA.DE is traded in EUR, while SPBO is traded in USD. To make them comparable, the SPBO values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VECA.DE achieves a 1.24% return, which is significantly lower than SPBO's 4.82% return.
VECA.DE
- 1D
- 0.09%
- 1M
- 0.67%
- YTD
- 1.24%
- 6M
- 1.39%
- 1Y
- 2.36%
- 3Y*
- 4.74%
- 5Y*
- 0.24%
- 10Y*
- —
SPBO
- 1D
- 0.03%
- 1M
- 3.33%
- YTD
- 4.82%
- 6M
- 4.86%
- 1Y
- 8.24%
- 3Y*
- 4.21%
- 5Y*
- 1.63%
- 10Y*
- 2.37%
VECA.DE vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VECA.DE Vanguard EUR Corporate Bond UCITS ETF Accumulating | 1.24% | 2.98% | 4.39% | 7.54% | -13.48% | -1.06% | 2.69% | 4.68% |
SPBO SPDR Portfolio Corporate Bond ETF | 4.82% | -4.97% | 9.36% | 5.54% | -10.46% | 5.80% | 1.09% | 12.85% |
Correlation
The correlation between VECA.DE and SPBO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.34 |
The correlation between VECA.DE and SPBO shifts across timeframes, from 0.15 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VECA.DE vs. SPBO — Risk / Return Rank
VECA.DE
SPBO
VECA.DE vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.DE) and SPDR Portfolio Corporate Bond ETF (SPBO). 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.
| VECA.DE | SPBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.26 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.16 | -1.27 |
| Martin ratioReturn relative to average drawdown | 3.01 | 6.85 | -3.83 |
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Drawdowns
VECA.DE vs. SPBO - Drawdown Comparison
The maximum VECA.DE drawdown since its inception was -17.20%, roughly equal to the maximum SPBO drawdown of -17.48%. Use the drawdown chart below to compare losses from any high point for VECA.DE and SPBO.
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Drawdown Indicators
| VECA.DE | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -17.48% | +0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | -3.83% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -2.64% | -12.05% | +9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -12.99% | -4.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.48% | — |
Current DrawdownCurrent decline from peak | -0.28% | -2.78% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -5.54% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.21% | -0.43% |
Volatility
VECA.DE vs. SPBO - Volatility Comparison
The current volatility for Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.DE) is 0.81%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 1.18%. This indicates that VECA.DE experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VECA.DE | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 1.18% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 4.48% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 5.93% | -2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 8.65% | -4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 9.10% | -4.40% |
VECA.DE vs. SPBO - Expense Ratio Comparison
VECA.DE has a 0.09% expense ratio, which is higher than SPBO's 0.03% 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
VECA.DE vs. SPBO - Dividend Comparison
VECA.DE has not paid dividends to shareholders, while SPBO's dividend yield for the trailing twelve months is around 5.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | 5.08% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
VECA.DE Vanguard EUR 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% | 0.00% |
Frequently Asked Questions
VECA.DE and SPBO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPBO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.09% for VECA.DE.
VECA.DE is categorized as European Corporate Bonds, while SPBO is Corporate Bonds. VECA.DE tracks Bloomberg Euro Corp TR EUR, while SPBO tracks Bloomberg Barclays U.S. Corporate Bond Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.09% for VECA.DE and 0.03% for SPBO.
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