0FLE.L vs. ERNS.L
0FLE.L (iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist)) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both Ultrashort Bond funds from iShares - 0FLE.L tracks the Bloomberg US Floating Rate Note<5 Years Index while ERNS.L tracks the Markit iBoxx GBP Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 5 years, 0FLE.L returned 2.44%/yr vs 3.89%/yr for ERNS.L. At a correlation of -0.00, they often move in opposite directions. 0FLE.L charges 0.12%/yr vs 0.09%/yr for ERNS.L.
Performance
0FLE.L vs. ERNS.L - Performance Comparison
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Different Trading Currencies
0FLE.L is traded in EUR, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 0FLE.L achieves a 1.42% return, which is significantly lower than ERNS.L's 4.62% return.
0FLE.L
- 1D
- -0.70%
- 1M
- 0.24%
- 6M
- 1.19%
- YTD
- 1.42%
- 1Y
- 2.61%
- 3Y*
- 3.68%
- 5Y*
- 2.44%
- 10Y*
- —
ERNS.L
- 1D
- -0.23%
- 1M
- 2.03%
- 6M
- 3.83%
- YTD
- 4.62%
- 1Y
- 5.82%
- 3Y*
- 5.44%
- 5Y*
- 3.89%
- 10Y*
- 2.09%
0FLE.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 1.42% | 2.69% | 4.89% | 4.20% | -0.49% | -0.51% | -1.77% | 2.79% | -1.65% | -0.04% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 4.62% | -0.63% | 10.64% | 6.98% | -3.70% | 6.65% | -4.70% | 7.72% | -0.66% | 1.96% |
Correlation
The correlation between 0FLE.L and ERNS.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 | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2017 | -0.00 |
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Return for Risk
0FLE.L vs. ERNS.L — Risk / Return Rank
0FLE.L
ERNS.L
0FLE.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.
| 0FLE.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.69 | 4.08 | -0.39 |
| Martin ratioReturn relative to average drawdown | 10.05 | 10.21 | -0.17 |
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Drawdowns
0FLE.L vs. ERNS.L - Drawdown Comparison
The maximum 0FLE.L drawdown since its inception was -3.91%, smaller than the maximum ERNS.L drawdown of -23.79%. Use the drawdown chart below to compare losses from any high point for 0FLE.L and ERNS.L.
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Drawdown Indicators
| 0FLE.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.91% | -23.79% | +19.88% |
Max Drawdown (1Y)Largest decline over 1 year | -0.71% | -1.42% | +0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -4.64% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -2.86% | -7.70% | +4.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.12% | — |
Current DrawdownCurrent decline from peak | -0.70% | -0.51% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -11.50% | +10.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 0.57% | -0.31% |
Volatility
0FLE.L vs. ERNS.L - Volatility Comparison
iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.L) has a higher volatility of 1.72% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 1.15%. This indicates that 0FLE.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 0FLE.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 1.15% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 2.71% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 4.02% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 5.47% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.08% | 6.77% | -3.69% |
0FLE.L vs. ERNS.L - Expense Ratio Comparison
0FLE.L has a 0.12% expense ratio, which is higher than ERNS.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
0FLE.L vs. ERNS.L - Dividend Comparison
0FLE.L's dividend yield for the trailing twelve months is around 4.72%, more than ERNS.L's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 4.72% | 5.04% | 6.01% | 5.52% | 1.49% | 0.58% | 1.60% | 2.96% | 2.07% | 0.36% | 0.00% | 0.00% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 4.28% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
Frequently Asked Questions
0FLE.L and ERNS.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.
On fees, ERNS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L is cheaper with a 0.09% expense ratio, compared with 0.12% for 0FLE.L.
0FLE.L tracks Bloomberg US Floating Rate Note<5 Years Index, while ERNS.L tracks Markit iBoxx GBP Liquid Investment Grade Ultrashort Index. Their fees differ too: 0.12% for 0FLE.L and 0.09% for ERNS.L.
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