VUCP.L vs. IBTS.L
VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both exchange-traded funds - VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 10 years, VUCP.L returned 2.70%/yr vs 2.52%/yr for IBTS.L. Their correlation of 0.81 suggests significant overlap in exposure. VUCP.L charges 0.09%/yr vs 0.07%/yr for IBTS.L.
Performance
VUCP.L vs. IBTS.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 IBTS.L's 0.65% return. Over the past 10 years, VUCP.L has outperformed IBTS.L with an annualized return of 2.70%, while IBTS.L has yielded a comparatively lower 2.52% 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%
IBTS.L
- 1D
- 0.14%
- 1M
- 1.13%
- YTD
- 0.65%
- 6M
- 0.29%
- 1Y
- 4.47%
- 3Y*
- 1.53%
- 5Y*
- 2.95%
- 10Y*
- 2.52%
VUCP.L vs. IBTS.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% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.65% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.21% | -8.60% |
Correlation
The correlation between VUCP.L and IBTS.L is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.81 |
The correlation between VUCP.L and IBTS.L has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
VUCP.L vs. IBTS.L — Risk / Return Rank
VUCP.L
IBTS.L
VUCP.L vs. IBTS.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 $ Treasury Bond 1-3yr UCITS ETF (IBTS.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 | IBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.99 | +0.09 |
| Martin ratioReturn relative to average drawdown | 2.44 | 2.51 | -0.08 |
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 | IBTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.73 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.36 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.27 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.35 | -0.08 |
Drawdowns
VUCP.L vs. IBTS.L - Drawdown Comparison
The maximum VUCP.L drawdown since its inception was -16.84%, smaller than the maximum IBTS.L drawdown of -19.02%. Use the drawdown chart below to compare losses from any high point for VUCP.L and IBTS.L.
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Drawdown Indicators
| VUCP.L | IBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -19.02% | +2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -4.51% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -8.89% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -13.14% | -16.28% | +3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -19.02% | +2.18% |
Current DrawdownCurrent decline from peak | -7.67% | -7.51% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -7.93% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.78% | +0.43% |
Volatility
VUCP.L vs. IBTS.L - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) and iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) have volatilities of 1.62% and 1.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUCP.L | IBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.67% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 4.49% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 6.09% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 8.09% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 9.24% | +0.68% |
VUCP.L vs. IBTS.L - Expense Ratio Comparison
VUCP.L has a 0.09% expense ratio, which is higher than IBTS.L's 0.07% 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
VUCP.L vs. IBTS.L - Dividend Comparison
VUCP.L's dividend yield for the trailing twelve months is around 3.85%, less than IBTS.L's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.99% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
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 IBTS.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.09% for VUCP.L.
VUCP.L is categorized as Corporate Bonds, while IBTS.L is Government Bonds. VUCP.L tracks Bloomberg US Corp Bond TR USD, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VUCP.L and 0.07% for IBTS.L.
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