VUSC.L vs. HYGB.L

Last updated Jul 18, 2026

VUSC.L (Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both exchange-traded funds - VUSC.L is a Corporate Bonds fund tracking the Bloomberg Global Aggregate Corporate – United States Dollar Index 1-3 Year, while HYGB.L is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, VUSC.L returned 3.19%/yr vs 3.29%/yr for HYGB.L. A 0.77 correlation means they provide meaningful diversification when combined. VUSC.L charges 0.09%/yr vs 0.40%/yr for HYGB.L.

Performance

VUSC.L vs. HYGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist) (VUSC.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VUSC.L achieves a 1.30% return, which is significantly lower than HYGB.L's 3.73% return.

VUSC.L

• 1D: 0.25%
• 1M: -0.13%
• 6M: 0.86%
• YTD: 1.30%
• 1Y: 3.77%
• 3Y*: 4.29%
• 5Y*: 3.19%
• 10Y*: —

HYGB.L

• 1D: 0.36%
• 1M: -0.41%
• 6M: 2.50%
• YTD: 3.73%
• 1Y: 7.76%
• 3Y*: 8.68%
• 5Y*: 3.29%
• 10Y*: —

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

VUSC.L vs. HYGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VUSC.L Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist)	1.30%	-1.33%	7.18%	-0.33%	7.69%	1.08%	0.03%	2.11%	6.04%
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)	3.73%	1.56%	13.72%	1.66%	-2.52%	0.59%	1.90%	10.99%	-22.16%

Correlation

The correlation between VUSC.L and HYGB.L is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.77

The correlation between VUSC.L and HYGB.L has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.

Return for Risk

VUSC.L vs. HYGB.L — Risk / Return Rank

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

VUSC.L

VUSC.L Risk / Return Rank: 23
VUSC.L Sharpe Ratio Rank: 24
VUSC.L Sortino Ratio Rank: 22
VUSC.L Omega Ratio Rank: 21
VUSC.L Calmar Ratio Rank: 24
VUSC.L Martin Ratio Rank: 24

HYGB.L

HYGB.L Risk / Return Rank: 48
HYGB.L Sharpe Ratio Rank: 44
HYGB.L Sortino Ratio Rank: 44
HYGB.L Omega Ratio Rank: 42
HYGB.L Calmar Ratio Rank: 63
HYGB.L Martin Ratio Rank: 47

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.

VUSC.L vs. HYGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist) (VUSC.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VUSC.L	HYGB.L	Difference
Sharpe ratio: Return per unit of total volatility	0.62	1.19	-0.56
Sortino ratio: Return per unit of downside risk	0.95	1.74	-0.79
Omega ratio: Gain probability vs. loss probability	1.11	1.21	-0.10
Calmar ratio: Return relative to maximum drawdown	0.86	2.33	-1.48
Martin ratio: Return relative to average drawdown	2.26	5.93	-3.68

VUSC.L vs. HYGB.L - Sharpe Ratio Comparison

The current VUSC.L Sharpe Ratio is 0.62, which is lower than the HYGB.L Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of VUSC.L and HYGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VUSC.L vs. HYGB.L - Drawdown Comparison

The maximum VUSC.L drawdown since its inception was -15.15%, smaller than the maximum HYGB.L drawdown of -26.72%. Use the drawdown chart below to compare losses from any high point for VUSC.L and HYGB.L.

Drawdown Indicators

	VUSC.L	HYGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.15%	-26.72%	+11.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.38%	-3.31%	-1.07%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-8.96%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-15.15%	-23.02%	+7.87%
Current Drawdown Current decline from peak	-3.33%	-1.93%	-1.40%
Average Drawdown Average peak-to-trough decline	-6.19%	-14.28%	+8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.30%	+0.37%

Volatility

VUSC.L vs. HYGB.L - Volatility Comparison

The current volatility for Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist) (VUSC.L) is 1.18%, while VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) has a volatility of 1.48%. This indicates that VUSC.L experiences smaller price fluctuations and is considered to be less risky than HYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSC.L	HYGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	1.48%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	4.44%	4.96%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	6.03%	6.52%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.88%	18.18%	-10.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.49%	17.40%	-8.91%

VUSC.L vs. HYGB.L - Expense Ratio Comparison

VUSC.L has a 0.09% expense ratio, which is lower than HYGB.L's 0.40% expense ratio.

Dividends

VUSC.L vs. HYGB.L - Dividend Comparison

VUSC.L's dividend yield for the trailing twelve months is around 4.46%, while HYGB.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VUSC.L Vanguard USD Corporate 1-3 Year Bond UCITS ETF USD (Dist)	4.46%	4.94%	4.85%	4.15%	1.92%	1.03%	2.12%	2.92%	1.75%

Frequently Asked Questions

Can I hold both VUSC.L and HYGB.L in my portfolio?

VUSC.L and HYGB.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VUSC.L or HYGB.L?

On fees, VUSC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VUSC.L or HYGB.L?

VUSC.L is cheaper with a 0.09% expense ratio, compared with 0.40% for HYGB.L.

What is the main difference between VUSC.L and HYGB.L?

VUSC.L is categorized as Corporate Bonds, while HYGB.L is Emerging Markets Bonds. VUSC.L tracks Bloomberg Global Aggregate Corporate – United States Dollar Index 1-3 Year, while HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.09% for VUSC.L and 0.40% for HYGB.L.