VUCP.L vs. VWITX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX).

VUCP.L is a passively managed fund by Vanguard that tracks the performance of the Bloomberg US Corp Bond TR USD. It was launched on Feb 24, 2016. VWITX is managed by Vanguard. It was launched on Sep 1, 1977.

Performance

VUCP.L vs. VWITX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). The values are adjusted to include any dividend payments, if applicable.

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	0.68%	-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	1.39%	-1.66%	4.02%	0.53%	4.17%	1.69%	2.06%	2.94%	7.26%	-4.50%

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 0.68% return, which is significantly lower than VWITX's 1.39% return. Over the past 10 years, VUCP.L has underperformed VWITX with an annualized return of 2.73%, while VWITX has yielded a comparatively higher 3.05% annualized return.

VUCP.L

• 1D: 0.07%
• 1M: -0.43%
• YTD: 0.68%
• 6M: 1.44%
• 1Y: 0.90%
• 3Y*: 1.78%
• 5Y*: 0.88%
• 10Y*: 2.73%

VWITX

• 1D: -0.09%
• 1M: -1.03%
• YTD: 1.39%
• 6M: 3.01%
• 1Y: 2.08%
• 3Y*: 1.26%
• 5Y*: 2.40%
• 10Y*: 3.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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%.

VWITX

Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares

VUCP.L

Vanguard USD Corporate Bond UCITS ETF Distributing

Return for Risk

VUCP.L vs. VWITX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VUCP.L

VUCP.L Risk / Return Rank: 14
VUCP.L Sharpe Ratio Rank: 15
VUCP.L Sortino Ratio Rank: 13
VUCP.L Omega Ratio Rank: 13
VUCP.L Calmar Ratio Rank: 15
VUCP.L Martin Ratio Rank: 14

VWITX

VWITX Risk / Return Rank: 66
VWITX Sharpe Ratio Rank: 69
VWITX Sortino Ratio Rank: 63
VWITX Omega Ratio Rank: 85
VWITX Calmar Ratio Rank: 58
VWITX Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio Return per unit of total volatility	0.16	0.30	-0.15
Sortino ratio Return per unit of downside risk	0.26	0.47	-0.21
Omega ratio Gain probability vs. loss probability	1.03	1.06	-0.03
Calmar ratio Return relative to maximum drawdown	0.15	0.47	-0.33
Martin ratio Return relative to average drawdown	0.29	0.90	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUCP.L vs. VWITX - Sharpe Ratio Comparison

The current VUCP.L Sharpe Ratio is 0.16, which is lower than the VWITX Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of VUCP.L and VWITX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VUCP.L	VWITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.30	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.28	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.31	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.56	-0.27

Correlation

The correlation between VUCP.L and VWITX is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VUCP.L vs. VWITX - Dividend Comparison

VUCP.L's dividend yield for the trailing twelve months is around 3.83%, more than VWITX's 3.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing	3.83%	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%

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.

Drawdown Indicators

	VUCP.L	VWITX	Difference
Max Drawdown Largest peak-to-trough decline	-16.84%	-29.13%	+12.29%
Max Drawdown (1Y) Largest decline over 1 year	-6.11%	-3.89%	-2.22%
Max Drawdown (5Y) Largest decline over 5 years	-13.14%	-11.46%	-1.68%
Max Drawdown (10Y) Largest decline over 10 years	-16.84%	-11.46%	-5.38%
Current Drawdown Current decline from peak	-7.08%	-2.64%	-4.44%
Average Drawdown Average peak-to-trough decline	-7.66%	-3.58%	-4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	1.02%	+2.12%

Volatility

VUCP.L vs. VWITX - Volatility Comparison

The current volatility for Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) is 1.98%, while Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) has a volatility of 2.66%. This indicates that VUCP.L experiences smaller price fluctuations and is considered to be less risky than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUCP.L	VWITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	2.66%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	5.03%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	7.38%	7.86%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.58%	8.52%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.97%	9.72%	+0.25%