36BA.DE vs. ERNE.L
36BA.DE (iShares USD Corporate Bond ESG SRI UCITS ETF EUR Hedged (Dist)) and ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - 36BA.DE is a Corporate Bonds fund tracking the Bloomberg MSCI US Corporate Sustainable SRI Index (EUR Hedged), while ERNE.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 5 years, 36BA.DE returned -1.99%/yr vs 2.15%/yr for ERNE.L. At a 0.10 correlation, their price movements are largely independent. 36BA.DE charges 0.17%/yr vs 0.09%/yr for ERNE.L.
Performance
36BA.DE vs. ERNE.L - Performance Comparison
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Returns By Period
In the year-to-date period, 36BA.DE achieves a -1.16% return, which is significantly lower than ERNE.L's 1.15% return.
36BA.DE
- 1D
- 0.00%
- 1M
- -0.77%
- 6M
- -1.16%
- YTD
- -1.16%
- 1Y
- 1.79%
- 3Y*
- 2.49%
- 5Y*
- -1.99%
- 10Y*
- —
ERNE.L
- 1D
- -0.03%
- 1M
- 0.20%
- 6M
- 1.04%
- YTD
- 1.15%
- 1Y
- 2.14%
- 3Y*
- 3.26%
- 5Y*
- 2.15%
- 10Y*
- 1.03%
36BA.DE vs. ERNE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
36BA.DE iShares USD Corporate Bond ESG SRI UCITS ETF EUR Hedged (Dist) | -1.16% | 5.38% | -0.01% | 5.65% | -17.09% | -2.62% | 7.33% |
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 1.15% | 2.59% | 4.15% | 3.38% | -0.24% | -0.36% | 0.86% |
Correlation
The correlation between 36BA.DE and ERNE.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 14, 2020 | 0.10 |
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Return for Risk
36BA.DE vs. ERNE.L — Risk / Return Rank
36BA.DE
ERNE.L
36BA.DE vs. ERNE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Corporate Bond ESG SRI UCITS ETF EUR Hedged (Dist) (36BA.DE) and iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.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.
| 36BA.DE | ERNE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.30 | ||
| Sortino ratioReturn per unit of downside risk | -5.70 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.86 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 11.97 | -11.37 |
| Martin ratioReturn relative to average drawdown | 1.39 | 66.31 | -64.92 |
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Drawdowns
36BA.DE vs. ERNE.L - Drawdown Comparison
The maximum 36BA.DE drawdown since its inception was -23.57%, which is greater than ERNE.L's maximum drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for 36BA.DE and ERNE.L.
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Drawdown Indicators
| 36BA.DE | ERNE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.57% | -3.05% | -20.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -0.18% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -6.31% | -0.33% | -5.98% |
Max Drawdown (5Y)Largest decline over 5 years | -23.08% | -1.12% | -21.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.05% | — |
Current DrawdownCurrent decline from peak | -11.33% | -0.03% | -11.30% |
Average DrawdownAverage peak-to-trough decline | -11.30% | -0.28% | -11.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 0.03% | +1.25% |
Volatility
36BA.DE vs. ERNE.L - Volatility Comparison
iShares USD Corporate Bond ESG SRI UCITS ETF EUR Hedged (Dist) (36BA.DE) has a higher volatility of 1.32% compared to iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) at 0.20%. This indicates that 36BA.DE's price experiences larger fluctuations and is considered to be riskier than ERNE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36BA.DE | ERNE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 0.20% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 0.48% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.82% | 0.58% | +4.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 0.60% | +6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 0.76% | +6.18% |
36BA.DE vs. ERNE.L - Expense Ratio Comparison
36BA.DE has a 0.17% expense ratio, which is higher than ERNE.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
36BA.DE vs. ERNE.L - Dividend Comparison
36BA.DE's dividend yield for the trailing twelve months is around 4.97%, more than ERNE.L's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
36BA.DE iShares USD Corporate Bond ESG SRI UCITS ETF EUR Hedged (Dist) | 4.97% | 4.74% | 4.75% | 4.14% | 2.95% | 1.76% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
Frequently Asked Questions
36BA.DE and ERNE.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNE.L is cheaper with a 0.09% expense ratio, compared with 0.17% for 36BA.DE.
36BA.DE is categorized as Corporate Bonds, while ERNE.L is Ultrashort Bond. 36BA.DE tracks Bloomberg MSCI US Corporate Sustainable SRI Index (EUR Hedged), while ERNE.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Their fees differ too: 0.17% for 36BA.DE and 0.09% for ERNE.L.
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