VUSC.L vs. VUAA.L

Last updated Jul 16, 2026

VUSC.L (Vanguard USD Corporate 1-3 year Bond UCITS ETF) and VUAA.L (Vanguard S&P 500 UCITS ETF USD Accumulation) are both exchange-traded funds - VUSC.L is a Corporate Bonds fund tracking the Vanguard USD Corporate 1-3 year Bond UCITS ETF, while VUAA.L is a S&P 500 fund tracking the S&P 500 Net Total Return. Both are passively managed. Over the past 5 years, VUSC.L returned 3.13%/yr vs 13.42%/yr for VUAA.L. At a 0.04 correlation, their price movements are largely independent.

Performance

VUSC.L vs. VUAA.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 (VUSC.L) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VUSC.L is traded in GBP, while VUAA.L is traded in USD. To make them comparable, the VUAA.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VUSC.L achieves a 1.01% return, which is significantly lower than VUAA.L's 9.81% return.

VUSC.L

• 1D: 0.03%
• 1M: -0.23%
• 6M: 0.76%
• YTD: 1.01%
• 1Y: 3.35%
• 3Y*: 4.27%
• 5Y*: 3.13%
• 10Y*: —

VUAA.L

• 1D: -0.85%
• 1M: -0.84%
• 6M: 9.29%
• YTD: 9.81%
• 1Y: 20.48%
• 3Y*: 18.68%
• 5Y*: 13.42%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VUSC.L Vanguard USD Corporate 1-3 year Bond UCITS ETF	1.01%	-1.33%	7.18%	-0.33%	7.69%	1.08%	0.03%	1.02%
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	9.81%	9.01%	27.46%	20.35%	-8.96%	30.57%	14.57%	11.76%

Correlation

The correlation between VUSC.L and VUAA.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since May 14, 2019	0.04

The correlation between VUSC.L and VUAA.L shifts across timeframes, from 0.00 (5 years) to 0.11 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VUSC.L vs. VUAA.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: 21
VUSC.L Sharpe Ratio Rank: 22
VUSC.L Sortino Ratio Rank: 21
VUSC.L Omega Ratio Rank: 19
VUSC.L Calmar Ratio Rank: 23
VUSC.L Martin Ratio Rank: 23

VUAA.L

VUAA.L Risk / Return Rank: 70
VUAA.L Sharpe Ratio Rank: 70
VUAA.L Sortino Ratio Rank: 76
VUAA.L Omega Ratio Rank: 68
VUAA.L Calmar Ratio Rank: 66
VUAA.L Martin Ratio Rank: 73

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. VUAA.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 (VUSC.L) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.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	VUAA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.65	-1.02
Sortino ratio: Return per unit of downside risk	0.95	2.35	-1.39
Omega ratio: Gain probability vs. loss probability	1.11	1.30	-0.19
Calmar ratio: Return relative to maximum drawdown	0.86	2.82	-1.96
Martin ratio: Return relative to average drawdown	2.28	9.34	-7.06

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

The current VUSC.L Sharpe Ratio is 0.63, which is lower than the VUAA.L Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of VUSC.L and VUAA.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. VUAA.L - Drawdown Comparison

The maximum VUSC.L drawdown since its inception was -15.15%, smaller than the maximum VUAA.L drawdown of -26.15%. Use the drawdown chart below to compare losses from any high point for VUSC.L and VUAA.L.

Drawdown Indicators

	VUSC.L	VUAA.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.15%	-26.15%	+11.00%
Max Drawdown (1Y) Largest decline over 1 year	-4.38%	-7.23%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-21.12%	+12.36%
Max Drawdown (5Y) Largest decline over 5 years	-15.15%	-21.12%	+5.97%
Current Drawdown Current decline from peak	-3.61%	-1.30%	-2.31%
Average Drawdown Average peak-to-trough decline	-6.19%	-3.63%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	2.19%	-0.53%

Volatility

VUSC.L vs. VUAA.L - Volatility Comparison

The current volatility for Vanguard USD Corporate 1-3 year Bond UCITS ETF (VUSC.L) is 1.68%, while Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) has a volatility of 2.97%. This indicates that VUSC.L experiences smaller price fluctuations and is considered to be less risky than VUAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSC.L	VUAA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	2.97%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	4.43%	9.33%	-4.90%
Volatility (1Y) Calculated over the trailing 1-year period	6.04%	12.34%	-6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	15.50%	-7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.49%	17.07%	-8.58%

Dividends

VUSC.L vs. VUAA.L - Dividend Comparison

VUSC.L's dividend yield for the trailing twelve months is around 4.93%, while VUAA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	0.00%
VUSC.L Vanguard USD Corporate 1-3 year Bond UCITS ETF	4.93%	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 VUAA.L in my portfolio?

VUSC.L and VUAA.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

VUSC.L is categorized as Corporate Bonds, while VUAA.L is S&P 500. VUSC.L tracks Vanguard USD Corporate 1-3 year Bond UCITS ETF, while VUAA.L tracks S&P 500 Net Total Return.