VUCP.L vs. VWITX
VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) and VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) are both funds - VUCP.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while VWITX is a Municipal Bonds fund managed by Vanguard. Over the past 10 years, VUCP.L returned 2.70%/yr vs 3.19%/yr for VWITX. A 0.70 correlation means they provide meaningful diversification when combined. VUCP.L charges 0.09%/yr vs 0.17%/yr for VWITX.
Performance
VUCP.L vs. VWITX - Performance Comparison
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Different Trading Currencies
VUCP.L is traded in GBP, while VWITX is traded in USD. To make them comparable, the VWITX values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUCP.L achieves a 0.04% return, which is significantly lower than VWITX's 1.64% return. Over the past 10 years, VUCP.L has underperformed VWITX with an annualized return of 2.70%, while VWITX has yielded a comparatively higher 3.19% 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%
VWITX
- 1D
- 0.28%
- 1M
- 1.41%
- YTD
- 1.64%
- 6M
- 1.02%
- 1Y
- 7.69%
- 3Y*
- 1.86%
- 5Y*
- 2.70%
- 10Y*
- 3.19%
VUCP.L vs. VWITX - 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% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 1.64% | -1.66% | 4.02% | 0.53% | 4.17% | 1.69% | 2.06% | 2.94% | 7.26% | -4.50% |
Correlation
The correlation between VUCP.L and VWITX is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.70 |
The correlation between VUCP.L and VWITX has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
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Return for Risk
VUCP.L vs. VWITX — Risk / Return Rank
VUCP.L
VWITX
VUCP.L vs. VWITX - 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 Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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 | VWITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.53 | -0.46 |
| Martin ratioReturn relative to average drawdown | 2.44 | 4.16 | -1.72 |
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 | VWITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 1.18 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.32 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.33 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.57 | -0.29 |
Drawdowns
VUCP.L vs. VWITX - Drawdown Comparison
The maximum VUCP.L drawdown since its inception was -16.84%, which is greater than VWITX's maximum drawdown of -15.97%. Use the drawdown chart below to compare losses from any high point for VUCP.L and VWITX.
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Drawdown Indicators
| VUCP.L | VWITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -15.97% | -0.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -4.98% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -10.19% | +1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -13.14% | -13.87% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -15.00% | -1.84% |
Current DrawdownCurrent decline from peak | -7.67% | -4.43% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -5.72% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.83% | +0.38% |
Volatility
VUCP.L vs. VWITX - Volatility Comparison
Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) have volatilities of 1.62% and 1.60%, 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 | VWITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.60% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 4.96% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 6.46% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 8.48% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 9.67% | +0.25% |
VUCP.L vs. VWITX - Expense Ratio Comparison
VUCP.L has a 0.09% expense ratio, which is lower than VWITX's 0.17% expense ratio. Despite the difference, 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. VWITX - Dividend Comparison
VUCP.L's dividend yield for the trailing twelve months is around 3.85%, more than VWITX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.25% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
Frequently Asked Questions
VUCP.L and VWITX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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