VUCP.L vs. VCPA.L
VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) and VCPA.L (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds from Vanguard tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, VUCP.L returned 1.01%/yr vs -59.47%/yr for VCPA.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.
Performance
VUCP.L vs. VCPA.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 VCPA.L's 0.51% 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%
VCPA.L
- 1D
- 0.29%
- 1M
- 1.41%
- YTD
- 0.51%
- 6M
- 0.27%
- 1Y
- -98.93%
- 3Y*
- -77.87%
- 5Y*
- -59.47%
- 10Y*
- —
VUCP.L vs. VCPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 0.04% | -0.91% | 4.32% | 1.29% | -5.38% | -0.63% | 4.96% | 9.98% |
VCPA.L Vanguard USD Corporate Bond UCITS ETF Accumulating | 0.51% | -99.00% | 4.58% | 2.13% | -4.89% | -0.13% | 5.86% | 10.80% |
Correlation
The correlation between VUCP.L and VCPA.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.88 |
The correlation between VUCP.L and VCPA.L has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
VUCP.L vs. VCPA.L — Risk / Return Rank
VUCP.L
VCPA.L
VUCP.L vs. VCPA.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 Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.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 | VCPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.31 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | -1.00 | +2.08 |
| Martin ratioReturn relative to average drawdown | 2.44 | -1.21 | +3.65 |
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 | VCPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | -1.00 | +1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | -1.32 | +1.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | -1.24 | +1.51 |
Drawdowns
VUCP.L vs. VCPA.L - Drawdown Comparison
The maximum VUCP.L drawdown since its inception was -16.84%, smaller than the maximum VCPA.L drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for VUCP.L and VCPA.L.
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Drawdown Indicators
| VUCP.L | VCPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -99.06% | +82.22% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -99.02% | +94.02% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -99.04% | +90.04% |
Max Drawdown (5Y)Largest decline over 5 years | -13.14% | -99.04% | +85.90% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | — | — |
Current DrawdownCurrent decline from peak | -7.67% | -99.03% | +91.36% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -17.55% | +9.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 81.78% | -79.57% |
Volatility
VUCP.L vs. VCPA.L - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a higher volatility of 1.62% compared to Vanguard USD Corporate Bond UCITS ETF Accumulating (VCPA.L) at 1.53%. This indicates that VUCP.L's price experiences larger fluctuations and is considered to be riskier than VCPA.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 | VCPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.53% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 4.41% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 98.63% | -92.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 45.54% | -37.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 40.64% | -30.72% |
VUCP.L vs. VCPA.L - Expense Ratio Comparison
Both VUCP.L and VCPA.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. VCPA.L - Dividend Comparison
VUCP.L's dividend yield for the trailing twelve months is around 3.85%, while VCPA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VCPA.L Vanguard USD 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% |
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% |
Frequently Asked Questions
With a correlation of 0.94, VUCP.L and VCPA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 VCPA.L have the same expense ratio: 0.09% per year.
Both ETFs track Bloomberg US Corp Bond TR USD.
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