VECA.L vs. IEAC.L
VECA.L (Vanguard EUR Corporate Bond UCITS ETF Accumulating) and IEAC.L (iShares Core € Corp Bond UCITS ETF EUR (Dist)) are both European Corporate Bonds funds - VECA.L tracks the Bloomberg Euro Corp TR EUR while IEAC.L tracks the BBG Euro Corporate Index (EUR). Both are passively managed. Over the past 5 years, VECA.L returned -0.26%/yr vs -0.61%/yr for IEAC.L. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.
Performance
VECA.L vs. IEAC.L - Performance Comparison
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Different Trading Currencies
VECA.L is traded in GBP, while IEAC.L is traded in EUR. To make them comparable, the IEAC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VECA.L achieves a -2.30% return, which is significantly higher than IEAC.L's -3.75% return.
VECA.L
- 1D
- 0.20%
- 1M
- -2.30%
- 6M
- -1.86%
- YTD
- -2.30%
- 1Y
- -0.50%
- 3Y*
- 3.86%
- 5Y*
- -0.26%
- 10Y*
- —
IEAC.L
- 1D
- 0.15%
- 1M
- -2.20%
- 6M
- -1.88%
- YTD
- -3.75%
- 1Y
- -1.98%
- 3Y*
- 3.24%
- 5Y*
- -0.61%
- 10Y*
- 0.74%
VECA.L vs. IEAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VECA.L Vanguard EUR Corporate Bond UCITS ETF Accumulating | -2.30% | 8.38% | -0.40% | 5.48% | -8.55% | -7.48% | 8.32% | -10.97% |
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | -3.75% | 8.75% | -0.42% | 5.28% | -8.88% | -6.93% | 8.41% | 0.82% |
Correlation
The correlation between VECA.L and IEAC.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.84 |
The correlation between VECA.L and IEAC.L has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.
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Return for Risk
VECA.L vs. IEAC.L — Risk / Return Rank
VECA.L
IEAC.L
VECA.L vs. IEAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.L) and iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.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.
| VECA.L | IEAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.09 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.08 | -0.04 |
| Martin ratioReturn relative to average drawdown | -0.28 | -0.65 | +0.36 |
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Drawdowns
VECA.L vs. IEAC.L - Drawdown Comparison
The maximum VECA.L drawdown since its inception was -22.59%, smaller than the maximum IEAC.L drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for VECA.L and IEAC.L.
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Drawdown Indicators
| VECA.L | IEAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -27.44% | +4.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -24.20% | +20.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.11% | -24.20% | +20.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.71% | -24.20% | +7.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.44% | — |
Current DrawdownCurrent decline from peak | -9.25% | -9.18% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -11.96% | -7.42% | -4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 3.04% | -1.27% |
Volatility
VECA.L vs. IEAC.L - Volatility Comparison
The current volatility for Vanguard EUR Corporate Bond UCITS ETF Accumulating (VECA.L) is 1.24%, while iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.L) has a volatility of 1.33%. This indicates that VECA.L experiences smaller price fluctuations and is considered to be less risky than IEAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VECA.L | IEAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.33% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 36.34% | -32.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.64% | 36.52% | -31.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 17.39% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.36% | 13.51% | -5.15% |
VECA.L vs. IEAC.L - Expense Ratio Comparison
Both VECA.L and IEAC.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VECA.L vs. IEAC.L - Dividend Comparison
VECA.L has not paid dividends to shareholders, while IEAC.L's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | 1.65% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
VECA.L 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.L and IEAC.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VECA.L and IEAC.L have the same expense ratio: 0.09% per year.
VECA.L tracks Bloomberg Euro Corp TR EUR, while IEAC.L tracks BBG Euro Corporate Index (EUR). They also come from different issuers: Vanguard and iShares.
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