VUCP.L vs. ERNS.L
VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. VUCP.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, VUCP.L returned 2.70%/yr vs 2.20%/yr for ERNS.L. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
VUCP.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, VUCP.L achieves a 0.04% return, which is significantly lower than ERNS.L's 1.58% return. Over the past 10 years, VUCP.L has outperformed ERNS.L with an annualized return of 2.70%, while ERNS.L has yielded a comparatively lower 2.20% annualized return.
VUCP.L
- 1D
- 0.29%
- 1M
- 1.42%
- YTD
- 0.04%
- 6M
- -0.47%
- 1Y
- 5.40%
- 3Y*
- 1.87%
- 5Y*
- 1.01%
- 10Y*
- 2.70%
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
VUCP.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 0.04% | -0.91% | 4.32% | 1.29% | -5.38% | -0.63% | 4.96% | 10.22% | 2.22% | -3.67% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 1.27% | 0.58% | 0.57% |
Correlation
The correlation between VUCP.L and ERNS.L is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.05 |
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Return for Risk
VUCP.L vs. ERNS.L — Risk / Return Rank
VUCP.L
ERNS.L
VUCP.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.
| VUCP.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.40 | ||
| Sortino ratioReturn per unit of downside risk | -8.13 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 2.39 | -1.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 20.38 | -19.30 |
| Martin ratioReturn relative to average drawdown | 2.44 | 108.76 | -106.32 |
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
| VUCP.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 5.30 | -4.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 4.34 | -4.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 2.38 | -2.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 2.23 | -1.96 |
Drawdowns
VUCP.L vs. ERNS.L - Drawdown Comparison
The maximum VUCP.L drawdown since its inception was -16.84%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for VUCP.L and ERNS.L.
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Drawdown Indicators
| VUCP.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -1.51% | -15.33% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -0.22% | -4.78% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -0.22% | -8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -13.14% | -0.36% | -12.78% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -1.51% | -15.33% |
Current DrawdownCurrent decline from peak | -7.67% | 0.00% | -7.67% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -0.05% | -7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.04% | +2.17% |
Volatility
VUCP.L vs. ERNS.L - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a higher volatility of 1.62% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that VUCP.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUCP.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.36% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 0.68% | +3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 0.84% | +5.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 0.83% | +7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 0.92% | +9.00% |
VUCP.L vs. ERNS.L - Expense Ratio Comparison
Both VUCP.L and ERNS.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
VUCP.L vs. ERNS.L - Dividend Comparison
VUCP.L's dividend yield for the trailing twelve months is around 3.85%, less than ERNS.L's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 3.85% | 4.02% | 4.73% | 3.57% | 2.79% | 1.85% | 2.36% | 2.64% | 2.58% | 2.57% | 1.73% | 0.00% |
Frequently Asked Questions
VUCP.L and ERNS.L have a correlation of -0.04, 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.
VUCP.L and ERNS.L have the same expense ratio: 0.09% per year.
VUCP.L is categorized as Corporate Bonds, while ERNS.L is Ultrashort Bond. They also come from different issuers: Vanguard and iShares.
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