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Fund report

UCITS · Ireland · Accumulating

VUCE IE00BGYWFK87

USD-denominated global corporate bonds
Vanguard USD Corporate Bond UCITS ETF Inc
VCPA · VDPA · VCRPF · Vanguard

8,885 holdings as of 2026-08-31 · top 10 = 1.5% · TER 0.07% · P/E 17.3

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Concentration
Well diversifiedtop 10 = 1.5%
diversifiedconcentrated
GROWTH · NAV (USD)rebased to 0%
Holdings
8,885
as of 2026-08-31
Top 10
1.5%
TER
0.07%
cheaper than 95% of peers
Net assets
US$4.73B
reported in USD
Largest
1.0%
P / E
17.3
covers 58% by weight
Sections
Holdings as of 2026-08-31.
01Overview
the fund's regulatory facts
Distribution
Accumulating
Fund currency
USD
Domicile
Ireland
Structure
Open-ended
First listed
2019-02-19
Volatility 1Y
4.8%
Tracked index
Bloomberg Global Aggregate Corporate - United States Dollar Index
How it tracks
Physical, sampling
Risk rating
3 of 7
02Valuation and performance
market price return · as of 2026-10-27
1M
+1.5%
3M
-0.8%
6M
-1.2%
YTD
-1.3%
1Y
-1.3%
Trackingfund minus Bloomberg Global Aggregate Corporate - United States Dollar Index · annualised
1Y return gap
-0.01 pp/yr
3Y return gap
-0.03 pp/yr
5Y return gap
-0.03 pp/yr
3Y tracking error
0.15%

A positive return gap means the fund finished ahead of the index over that window. The 3Y 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.

Valuation657 companies covered · weighted, profitable holdings only
17.3
price / earnings
MethodologyCompany-data coverageThe rest is 3% loss-making companies, which carry no P/E by the positive-earner convention; 30% 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 61% by weight
1.65
price / book
covers 53% 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
1CBOT 2 Year US Treasury Note Future USTUU6
0.5
2CBOT US Treasure Bond Futures USUSU6
0.3
3US Dollar USUSD
0.2
4SOPAIPILLA INVESTOR, LLC USTXEDCI
0.1
5Ultra U.S. Treasury Bond Futures USWNU6
0.1
6Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc USABIBB
0.1
7Medline Borrower LP USMEDIND
0.1
8BEACON POINT DC LLC USHUTBPA
0.1
9YARA INTERNATIONAL NOYARNO
0.0
10Chevron Corp USCVX
0.0
11QTS Fayetteville I Dc1-2 LLC / QTS TRS Fayetteville I DC1-2 LLC USQTSQST
0.0
12Goldman Sachs Bank USA/New York NY USGS
0.0
13Skyworks Solutions Inc USSWKS
0.0
14Telefonica Europe BV NLTELEFO
0.0
15ANZ New Zealand Int'l Ltd/London NZANZNZ
0.0
16HUT 8 DC LLC USHUTRBA
0.0
17Travelers Property Casualty Corp USTRV
0.0
18Space Exploration Technologies Corp USSPCX
0.0
19HANWHA LIFE INSURANCE CO., LTD. KR088350
0.0
20Bank of America NA USBAC
0.0
21NBCUniversal Media LLC USCMCSA
0.0
22Sands China Ltd KYSANLTD
0.0
23SKY GROUP FINANCE PLC GBCMCSA
0.0
24GOLDMAN SACHS CAPITAL I USGS
0.0
25Kioxia Holdings JP285A JP
0.0
26Scotiabank Peru SAA PEBNSPE
0.0
27TotalEnergies Capital USA LLC USTTEFP
0.0
28Vallourec SACA FRVK
0.0
29PHARMACIA LLC USPFE
0.0
30American Airlines 2025-1 Class A Pass Through Trust USAAL
0.0
31Plains All American Pipeline LP USPAA
0.0
32NAKILAT INC MHQGTS
0.0
33FMC Corp USFMC
0.0
34UBS AG/London CHUBS
0.0
35Lancashire Holdings Ltd GBLRE
0.0
36American Airlines 2026-2 Class A Pass Through Trust USAAL
0.0
37ICICI Bank Ltd/IFSC INICICI
0.0
38Momentive Performance Materials Inc USMOMPER
0.0
39Bank Hapoalim BM ILHAPOAL
0.0
40EL PUERTO DE LIVERPOOL, S.A.B. DE C.V. MXLIVEPOLC
0.0
41Five Corners Funding Trust III USPRU
0.0
42Komatsu Finance America Inc USKOMATS
0.0
43Enel Chile SA CLENELCH
0.0
44Cumberland Combined Cycle Generation LLC USCGHLLC
0.0
45SiriusPoint Ltd BMSPNT
0.0
46RLGH Finance Bermuda Ltd BMRESLIF
0.0
47Weibo Corp KYWB
0.0
48BBVA Bancomer SA/Texas MXBBVASM
0.0
49Swiss RE Subordinated Finance PLC GBSRENVX
0.0
50Continental Resources Inc/OK USCLR
0.0
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04Exposure
Equity 70.1%Bonds 3.7%Other 26.1%
By sector
Financial Services25.8%
Healthcare6.8%
Communication Services6.1%
Technology6.1%
Industrials5.2%
Utilities4.5%
Consumer Cyclical4.3%
Energy4.1%
Consumer Defensive3.6%
Real Estate2.3%
Materials1.7%
By country
USUnited States81.1%
GBUnited Kingdom3.6%
CACanada2.7%
JPJapan2.5%
FRFrance1.7%
KYCayman Islands1.2%
NLNetherlands1.2%
AUAustralia1.2%
CurrencyUSD 82.9% EUR 5.7% GBP 3.6% CAD 2.7% JPY 2.5%
Issuer's scenario analysisaverage return per year over 3 years
Stress
-8.1%
Unfavourable
-5.1%
Moderate
+3.7%
Favourable
+7.9%
06Where it trades
11 exchanges
ExchangeMICListed since
London Stock ExchangeXLON2019-02-21
Börse MünchenMUNB2019-03-04
Börse FrankfurtFRAA2019-06-13
XetraXETA2019-06-13
Börse DüsseldorfDUSD2019-10-17
TradegateXGAT2019-10-31
Borsa ItalianaETFP2020-01-14
Börse StuttgartSTUB2020-01-16
Börse HamburgHAMN2020-02-19
Börse HannoverHAND2024-12-09
SIX Swiss ExchangeXSWX–

Also admitted to 31 other venues, mostly multilateral trading facilities and regional segments.

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