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Fund report

UCITS · Ireland · Accumulating

VCDE

Short-term US dollar corporate bonds, EUR-hedged
Vanguard USD Corporate 1-3 Year Bond UCITS ETF EUR Hedged Acc
IE00BGYWSW13 · Vanguard

2,131 holdings as of 2026-07-31 · top 10 = 3.9% · TER 0.12% · P/E 17.4

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Concentration
Well diversifiedtop 10 = 3.9%
diversifiedconcentrated
GROWTH · PRICE DEVELOPMENTrebased to 0%
Holdings
2,131
as of 2026-07-31
Top 10
3.9%
TER
0.12%
cheaper than 77% of peers
Net assets
€3.01B
reported in EUR
Largest
1.9%
P / E
17.4
covers 53% by weight
Sections
Holdings as of 2026-07-31.
01Overview
the fund's regulatory facts
Distribution
Accumulating
Fund currency
EUR
Domicile
Ireland
Structure
Open-ended
First listed
2023-10-03
Volatility 1Y
1.3%
Tracked index
Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3Y Hedged in EUR
How it tracks
Physical, sampling
Risk rating
2 of 7
02Valuation and performance
market price return · as of 2026-09-01
1M
+0.1%
3M
+0.2%
6M
+0.0%
YTD
+0.4%
1Y
+1.3%
Trackingfund minus Bloomberg Global Aggregate Corporate - United States Dollar Index 1-3Y Hedged in EUR · annualised
1Y return gap
-0.15 pp/yr
1Y tracking error
0.05%

A positive return gap means the fund finished ahead of the index over that window. The 1Y tracking error shows how variable that monthly gap was; lower means steadier tracking. MethodologyReturn gap and tracking errorReturn gap is the fund's return minus its index over the same months, converted to a yearly rate. Tracking error is the annualised standard deviation of those monthly fund-minus-index returns. Both lines come from the manager's own chart, in the same currency and the exact index variant the fund tracks. We use month-end values so different intraday valuation times are not mistaken for tracking error.. Not investment advice.

Valuation425 companies covered · weighted, profitable holdings only
17.4
price / earnings
MethodologyCompany-data coverageThe rest is 2% loss-making companies, which carry no P/E by the positive-earner convention; 36% bonds, cash or other non-equity; 9% cannot be reliably linked to the financial and market data used in this analysis. We exclude uncertain matches rather than estimate them.
5.4%
MethodologyEarnings yieldP/E is price over earnings; earnings yield is the reverse, earnings over price, and reads like a bond yield. P/E covers only the profitable holdings, since a loss-making company has no meaningful P/E. Earnings yield counts the loss-makers too, so it covers more of the fund and can fall below zero when the holdings lose money overall.
covers 54% by weight
1.76
price / book
covers 46% by weight

Computed from company filings and reported position values. MethodologyPortfolio valuationComputed by us from each company's own financial statements and the position values funds report, currency-adjusted and weighted harmonically. P/E covers profitable holdings only. Book value uses the most recent reported quarter.. Not investment advice.

03Holdings
50 largest · as of 2026-07-31
#CompanyIdentifierWeight
1US Dollar USUSD
1.9
2United States Treasury Note/Bond UST
0.5
3RTX Corp USRTX
0.2
4Medline Borrower LP USMEDIND
0.2
5CBOT 2 Year US Treasury Note Future USTUU6
0.2
6CBOT 5 Year US Treasury Note USFVU6
0.2
7Pfizer Investment Enterprises Pte. Ltd. SGPFE
0.2
8Anheuser-Busch InBev Worldwide Inc USABIBB
0.2
9Goldman Sachs Bank USA/New York NY USGS
0.2
10Sprint Capital Corp USS
0.1
11Bayer US Finance II LLC USBAYNGR
0.1
12DELTA AIR LINES INC / SKYMILES IP LTD USDAL
0.1
13Schlumberger Holdings Corp USSLB
0.1
14Amrize Finance US LLC USAMRZ
0.1
15Alibaba Group Holding Ltd KYBABA
0.1
16Aon North America Inc USAON
0.1
17Comcast Corp USCMCSA
0.1
18Tencent Holdings Ltd KYTENCNT
0.1
19Takeda Pharmaceutical Co Ltd JPTACHEM
0.1
20Regions Bank/Birmingham AL USRF
0.1
21Amcor Flexibles North America Inc USAMCR
0.1
22General Mills Inc USGIS
0.1
23BP Capital Markets BV NLBPLN
0.1
24United Airlines Inc USUAL
0.1
25TotalEnergies Capital International SA FRTTEFP
0.1
26Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc USBHI
0.1
27Synopsys Inc USSNPS
0.1
28LAM RESEARCH CORP USLRCX
0.1
29Cooperatieve Rabobank UA NLRABOBK
0.1
30Camden Property Trust USCPT
0.1
31Mizuho Bank Ltd JPMIZUHO
0.1
32Nvidia Corp USNVDA
0.1
33Fox Corp USFOXA
0.1
34HSBC Holdings PLC GBHSBC
0.1
35Heineken NV NLHEIANA
0.1
36RELX Capital Inc USRELLN
0.1
37APOLLO MANAGEMENT HOLDINGS LP USAPO
0.1
38CK Hutchison International 24 Ltd KYCKHH
0.1
39Liberty Mutual Group Inc USLIBMUT
0.1
40Meta Platforms Inc USMETA
0.1
41Arthur J Gallagher & Co USAJG
0.1
42Sempra USSRE
0.1
43Fedex Freight Holding Co Inc USFDXF
0.1
44CRH America Finance Inc USCRHID
0.1
45Siemens Financieringsmaatschappij NV NLSIEGR
0.1
46Sabine Pass Liquefaction LLC USSPLLLC
0.1
47CMT MTN Pte. Ltd. SGCAPITA
0.1
48Lseg US Fin Corp USLSELN
0.1
49Dollar Tree Inc USDLTR
0.1
50Cox Communications Inc USCOXENT
0.1
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04Exposure
Equity 63.9%Bonds 3.9%Other 32.0%
By sector
Financial Services31.1%
Technology5.1%
Healthcare4.8%
Industrials4.5%
Consumer Cyclical3.8%
Utilities3.5%
Consumer Defensive3.2%
Communication Services2.5%
Real Estate2.3%
Energy2.0%
Materials1.1%
By country
USUnited States73.5%
GBUnited Kingdom4.7%
CACanada3.3%
JPJapan3.0%
FRFrance2.4%
KYCayman Islands1.9%
AUAustralia1.5%
NLNetherlands1.5%
CurrencyUSD 76.0% EUR 6.6% GBP 4.7% CAD 3.3% JPY 3.0%
Issuer's scenario analysisaverage return per year over 1 years
Stress
-8.5%
Unfavourable
-7.3%
Moderate
+0.9%
Favourable
+6.5%
06Where it trades
9 exchanges
ExchangeMICListed since
Borsa ItalianaETFP2023-10-05
Börse DüsseldorfDUSB2023-10-05
Börse FrankfurtFRAA2023-10-05
Börse MünchenMUNB2023-10-05
XetraXETA2023-10-05
TradegateXGAT2023-10-27
Börse StuttgartSTUB2023-11-13
Börse HamburgHAMN2024-03-15
Börse HannoverHAND2024-12-09

Also admitted to 32 other venues, mostly multilateral trading facilities and regional segments.

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