- Issuer
- iShares
- Inception Date
- Dec 15, 2020
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- iShares $ Ultrashort Bond UCITS ETF USD (Dist)
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
ERND.L Performance Chart
iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) is up 2.0% since the beginning of the year. ERND.L is currently trading at $100 per share. Investors who bought $1,000 worth of ERND.L shares 5 years ago would now be looking at an investment worth $1,207.
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Returns By Period
iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) has returned 2.00% so far this year and 4.19% over the past 12 months. Over the last ten years, ERND.L has returned 2.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.36% annually.
iShares $ Ultrashort Bond UCITS ETF USD (Dist)
- 1D
- -0.02%
- 1M
- 0.30%
- 6M
- 1.83%
- YTD
- 2.00%
- 1Y
- 4.19%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
Benchmark (S&P 500 Index)
- 1D
- 0.38%
- 1M
- 0.24%
- 6M
- 9.32%
- YTD
- 10.62%
- 1Y
- 21.28%
- 3Y*
- 18.90%
- 5Y*
- 11.84%
- 10Y*
- 13.36%
ERND.L Monthly Returns History
Based on dividend-adjusted daily data since Oct 15, 2013, ERND.L's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 87% of months were positive and 13% were negative. The best month was Apr 2020 with a return of +3.1%, while the worst month was Mar 2020 at -3.3%. The longest winning streak lasted 42 consecutive months, and the longest losing streak was 2 months.
On a daily basis, ERND.L closed higher 51% of trading days. The best single day was Mar 26, 2020 with a return of +3.6%, while the worst single day was Mar 18, 2020 at -2.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.30% | 0.35% | 0.14% | 0.46% | 0.30% | 0.27% | 0.16% | 2.00% | |||||
| 2025 | 0.54% | 0.44% | 0.33% | 0.42% | 0.39% | 0.33% | 0.40% | 0.40% | 0.42% | 0.34% | 0.42% | 0.32% | 4.84% |
| 2024 | 0.44% | 0.47% | 0.43% | 0.49% | 0.53% | 0.34% | 0.63% | 0.48% | 0.54% | 0.32% | 0.51% | 0.24% | 5.55% |
| 2023 | -0.02% | 0.40% | 0.25% | 0.41% | 0.47% | 0.47% | 0.41% | 0.59% | 0.37% | 0.44% | 0.66% | 0.53% | 5.09% |
| 2022 | 0.25% | -0.11% | -0.09% | 0.02% | 0.05% | -0.13% | 0.20% | 0.30% | 0.00% | 0.08% | 0.35% | 1.09% | 2.03% |
| 2021 | 0.12% | 0.03% | -0.01% | 0.16% | 0.04% | -0.07% | 0.08% | 0.00% | 0.00% | -0.05% | 0.02% | -0.32% | 0.00% |
Benchmark Metrics
iShares $ Ultrashort Bond UCITS ETF USD (Dist) has an annualized alpha of 2.08%, beta of 0.02, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since October 15, 2013.
- This ETF captured 5.91% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.26%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.02 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.08%
- Beta
- 0.02
- R²
- 0.02
- Upside Capture
- 5.91%
- Downside Capture
- -3.26%
Expense Ratio
ERND.L has an expense ratio of 0.09%, which is considered low.
Return for Risk
Risk / Return Rank
ERND.L ranks 99 for risk / return — in the top 99% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) and compare them to S&P 500 Index.
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.
| ERND.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.49 | ||
| Sortino ratioReturn per unit of downside risk | +6.59 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.31 | +1.01 |
| Calmar ratioReturn relative to maximum drawdown | 20.61 | 2.35 | +18.26 |
| Martin ratioReturn relative to average drawdown | 101.10 | 10.19 | +90.91 |
Dividends
Dividend History
iShares $ Ultrashort Bond UCITS ETF USD (Dist) provided a 4.31% dividend yield over the last twelve months, with an annual payout of $4.30 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.30 | $4.69 | $5.52 | $4.99 | $1.57 | $0.48 | $1.55 | $2.72 | $2.19 | $1.39 | $0.99 | $0.72 |
Dividend yield | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares $ Ultrashort Bond UCITS ETF USD (Dist). The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $1.05 | $0.00 | $0.00 | $1.00 | $0.00 | $2.05 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.44 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.26 | $4.69 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.82 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.71 | $5.52 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.23 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.76 | $4.99 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.21 | $1.57 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.48 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares $ Ultrashort Bond UCITS ETF USD (Dist). A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares $ Ultrashort Bond UCITS ETF USD (Dist) was 7.48%, occurring on Mar 23, 2020. Recovery took 36 trading sessions.
The current iShares $ Ultrashort Bond UCITS ETF USD (Dist) drawdown is 0.02%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-7.48%Mar 2020 | 19d | 1mo 23d | 2mo 12dMar 2020 - May 2020 | COVID crash2020 |
-1.06%Jun 2022 | 8mo 2d | 2mo 3d | 10mo 5dOct 2021 - Aug 2022 | Bear market2022 |
-0.90%Mar 2023 | 2d | 12d | 14dMar 2023 - Mar 2023 | — |
-0.64%Apr 2025 | 3d | 16d | 19dApr 2025 - Apr 2025 | 2025 selloff2025 |
-0.52%Jul 2020 | 21d | 9d | 1moJun 2020 - Jul 2020 | — |
Drawdown Indicators
| ERND.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.48% | -56.78% | +49.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -9.10% | +8.90% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -18.90% | +18.26% |
Max Drawdown (5Y)Largest decline over 5 years | -1.06% | -25.43% | +24.37% |
Max Drawdown (10Y)Largest decline over 10 years | -7.48% | -33.92% | +26.44% |
Current DrawdownCurrent decline from peak | -0.02% | -0.49% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -10.70% | +10.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 2.09% | -2.05% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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