VUCP.L vs. VECP.L
VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) and VECP.L (Vanguard EUR Corporate Bond UCITS ETF Distributing) are both exchange-traded funds - VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while VECP.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, VUCP.L returned 2.71%/yr vs 2.45%/yr for VECP.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.
Performance
VUCP.L vs. VECP.L - Performance Comparison
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Returns By Period
In the year-to-date period, VUCP.L achieves a -0.23% return, which is significantly higher than VECP.L's -0.74% return. Over the past 10 years, VUCP.L has outperformed VECP.L with an annualized return of 2.71%, while VECP.L has yielded a comparatively lower 2.45% annualized return.
VUCP.L
- 1D
- 0.29%
- 1M
- 1.74%
- YTD
- -0.23%
- 6M
- -0.79%
- 1Y
- 5.18%
- 3Y*
- 1.89%
- 5Y*
- 0.96%
- 10Y*
- 2.71%
VECP.L
- 1D
- -0.22%
- 1M
- 0.44%
- YTD
- -0.74%
- 6M
- -0.93%
- 1Y
- 4.40%
- 3Y*
- 4.88%
- 5Y*
- 0.68%
- 10Y*
- 2.45%
VUCP.L vs. VECP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | -0.23% | -0.91% | 4.32% | 1.29% | -5.38% | -0.63% | 4.96% | 10.22% | 2.22% | -3.67% |
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | -0.74% | 8.47% | 0.17% | 6.15% | -7.51% | -7.24% | 8.80% | 0.94% | -0.08% | 6.20% |
Correlation
The correlation between VUCP.L and VECP.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.58 |
The correlation between VUCP.L and VECP.L shifts across timeframes, from 0.41 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VUCP.L vs. VECP.L — Risk / Return Rank
VUCP.L
VECP.L
VUCP.L vs. VECP.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 EUR Corporate Bond UCITS ETF Distributing (VECP.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 | VECP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.14 | 0.00 |
| Martin ratioReturn relative to average drawdown | 2.59 | 2.90 | -0.31 |
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 | VECP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 0.91 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.11 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.32 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.32 | -0.05 |
Drawdowns
VUCP.L vs. VECP.L - Drawdown Comparison
The maximum VUCP.L drawdown since its inception was -16.84%, smaller than the maximum VECP.L drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for VUCP.L and VECP.L.
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Drawdown Indicators
| VUCP.L | VECP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -20.56% | +3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -3.86% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -3.86% | -5.14% |
Max Drawdown (5Y)Largest decline over 5 years | -13.14% | -16.13% | +2.99% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -20.56% | +3.72% |
Current DrawdownCurrent decline from peak | -7.92% | -3.69% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -7.60% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.51% | +0.69% |
Volatility
VUCP.L vs. VECP.L - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a higher volatility of 1.73% compared to Vanguard EUR Corporate Bond UCITS ETF Distributing (VECP.L) at 1.47%. This indicates that VUCP.L's price experiences larger fluctuations and is considered to be riskier than VECP.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 | VECP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 1.47% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 3.64% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 4.82% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 6.17% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 7.58% | +2.34% |
VUCP.L vs. VECP.L - Expense Ratio Comparison
Both VUCP.L and VECP.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. VECP.L - Dividend Comparison
VUCP.L's dividend yield for the trailing twelve months is around 3.86%, more than VECP.L's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VECP.L Vanguard EUR Corporate Bond UCITS ETF Distributing | 3.43% | 3.37% | 4.05% | 3.45% | 2.12% | 0.94% | 0.99% | 0.93% | 1.10% | 1.23% | 1.04% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 3.86% | 4.02% | 4.73% | 3.57% | 2.79% | 1.85% | 2.36% | 2.64% | 2.58% | 2.57% | 1.73% |
Frequently Asked Questions
VUCP.L and VECP.L have a correlation of 0.41, 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 VECP.L have the same expense ratio: 0.09% per year.
VUCP.L is categorized as Corporate Bonds, while VECP.L is European Corporate Bonds. VUCP.L tracks Bloomberg US Corp Bond TR USD, while VECP.L tracks Bloomberg Euro Corp TR EUR.
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