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Fund report

UCITS · Ireland · Accumulating

VCDE IE00BGYWSW13

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

2,133 holdings as of 2026-08-31 · top 10 = 2.1% · TER 0.12% · P/E 17.1

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Concentration
Well diversifiedtop 10 = 2.1%
diversifiedconcentrated
GROWTH · NAV (EUR)rebased to 0%
Holdings
2,133
as of 2026-08-31
Top 10
2.1%
TER
0.12%
cheaper than 78% of peers
Net assets
€3.00B
reported in EUR
Largest
0.9%
P / E
17.1
covers 55% by weight
Sections
Holdings as of 2026-08-31.
01Overview
the fund's regulatory facts
Distribution
Accumulating
Fund currency
EUR
Domicile
Ireland
Structure
Open-ended
First listed
2023-10-03
Volatility 1Y
1.4%
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 2026-10-16
1M
-0.0%
3M
-0.3%
6M
-0.3%
YTD
-0.0%
1Y
+0.4%
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.

Valuation436 companies covered · weighted, profitable holdings only
17.1
price / earnings
MethodologyCompany-data coverageThe rest is 2% loss-making companies, which carry no P/E by the positive-earner convention; 33% bonds, cash or other non-equity; 10% cannot be reliably linked to the financial and market data used in this analysis. We exclude uncertain matches rather than estimate them.
5.5%
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 57% by weight
1.46
price / book
covers 50% 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 2026-08-31
#CompanyIdentifierWeight
1US Dollar USUSD
0.7
2Medline Borrower LP USMEDIND
0.2
3Pfizer Investment Enterprises Pte. Ltd. SGPFE
0.2
4Anheuser-Busch InBev Worldwide Inc USABIBB
0.2
5Goldman Sachs Bank USA/New York NY USGS
0.2
6Sprint Capital Corp USS
0.1
7Bayer US Finance II LLC USBAYNGR
0.1
8DELTA AIR LINES INC / SKYMILES IP LTD USDAL
0.1
9Amcor Flexibles North America Inc USAMCR
0.1
10Alibaba Group Holding Limited KY9988
0.1
11MORGAN STANLEY PRIVATE BANK NA USMS
0.1
12CBOT 2 Year US Treasury Note Future USTUU6
0.1
13Tencent Holdings Ltd KYTENCNT
0.1
14Takeda Pharmaceutical Co Ltd JPTACHEM
0.1
15Schlumberger Holdings Corp USSLB
0.1
16Regions Bank/Birmingham AL USRF
0.1
17General Mills Inc USGIS
0.1
18BP Capital Markets BV NLBPLN
0.1
19United Airlines Holdings Inc USUAL
0.1
20KINDER MORGAN, INC. USKMI
0.1
21TotalEnergies Capital International SA FRTTEFP
0.1
22Aon North America Inc USAON
0.1
23HSBC Holdings PLC GBHSBC
0.1
24Mizuho Bank Ltd JPMIZUHO
0.1
25SYNOPSYS, INC. USSNPS
0.1
26MARTIN MARIETTA MATERIALS, INC. USMLM
0.1
27LAM RESEARCH CORP USLRCX
0.1
28Cooperatieve Rabobank UA NLRABOBK
0.1
29NVIDIA CORP USNVDA
0.1
30Fox Corp USFOXA
0.1
31Manufacturers & Traders Trust Co USMTB
0.1
32RELX Capital Inc USRELLN
0.1
33CK Hutchison International 24 Ltd KYCKHH
0.1
34Liberty Mutual Group Inc USLIBMUT
0.1
35SEMPRA USSRE
0.1
36FEDEX FREIGHT HOLDING CO USFDXF
0.1
37CRH America Finance Inc USCRHID
0.1
38Siemens Financieringsmaatschappij NV NLSIEGR
0.1
39Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc USBHI
0.1
40Sabine Pass Liquefaction LLC USSPLLLC
0.1
41Cox Communications Inc USCOXENT
0.1
42CMT MTN Pte. Ltd. SGCAPITA
0.1
43US Bank NA/Cincinnati OH USUSB
0.1
44Lseg US Fin Corp USLSELN
0.1
45Dollar Tree Inc USDLTR
0.1
46KENVUE INC. USKVUE
0.1
47Marsh & Mclennan Cos USMRSH
0.1
48ARTHUR J. GALLAGHER & CO. USAJG
0.1
49Truist Bank USTFC
0.1
50Bimbo Bakeries USA Inc USBIMBOA
0.1
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04Exposure
Equity 66.8%Bonds 3.7%Other 29.2%
By sector
Financial Services31.4%
Technology5.2%
Healthcare5.0%
Industrials4.9%
Consumer Cyclical4.0%
Utilities3.3%
Consumer Defensive3.1%
Communication Services2.7%
Real Estate2.4%
Energy2.1%
Materials1.3%
By country
USUnited States73.3%
GBUnited Kingdom4.4%
CACanada3.3%
JPJapan3.1%
FRFrance2.4%
KYCayman Islands1.9%
AUAustralia1.7%
NLNetherlands1.2%
CurrencyUSD 75.8% EUR 6.7% GBP 4.4% CAD 3.3% JPY 3.1%
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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