ACWI.L vs. ERNS.L
ACWI.L (SPDR MSCI ACWI UCITS ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - ACWI.L is a Global Equities fund tracking the MSCI ACWI Index, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. ACWI.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, ACWI.L returned -30.84%/yr vs 2.21%/yr for ERNS.L. At a 0.05 correlation, their price movements are largely independent. ACWI.L charges 0.40%/yr vs 0.09%/yr for ERNS.L.
Performance
ACWI.L vs. ERNS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ACWI.L achieves a 10.58% return, which is significantly higher than ERNS.L's 1.67% return. Over the past 10 years, ACWI.L has underperformed ERNS.L with an annualized return of -30.84%, while ERNS.L has yielded a comparatively higher 2.21% annualized return.
ACWI.L
- 1D
- 1.75%
- 1M
- 0.47%
- YTD
- 10.58%
- 6M
- 11.29%
- 1Y
- 28.32%
- 3Y*
- 17.45%
- 5Y*
- -58.35%
- 10Y*
- -30.84%
ERNS.L
- 1D
- 0.03%
- 1M
- 0.34%
- YTD
- 1.67%
- 6M
- 1.95%
- 1Y
- 4.33%
- 3Y*
- 5.10%
- 5Y*
- 3.64%
- 10Y*
- 2.21%
ACWI.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 10.58% | 14.32% | 19.66% | 15.59% | -8.59% | -99.12% | 15.70% | 26.48% | -9.57% | 23.83% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.77% | 1.28% | 0.58% | 0.57% |
Correlation
The correlation between ACWI.L and ERNS.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.05 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ACWI.L vs. ERNS.L — Risk / Return Rank
ACWI.L
ERNS.L
ACWI.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (ACWI.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.
| ACWI.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -6.43 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 2.41 | -0.92 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 19.80 | -15.91 |
| Martin ratioReturn relative to average drawdown | 15.37 | 111.29 | -95.92 |
Loading charts...
Drawdowns
ACWI.L vs. ERNS.L - Drawdown Comparison
The maximum ACWI.L drawdown since its inception was -99.37%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for ACWI.L and ERNS.L.
Loading charts...
Drawdown Indicators
| ACWI.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.37% | -1.51% | -97.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -0.22% | -6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -20.07% | -0.22% | -19.85% |
Max Drawdown (5Y)Largest decline over 5 years | -99.37% | -0.36% | -99.01% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | -1.51% | -97.86% |
Current DrawdownCurrent decline from peak | -98.82% | 0.00% | -98.82% |
Average DrawdownAverage peak-to-trough decline | -32.23% | -0.05% | -32.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.04% | +1.75% |
Volatility
ACWI.L vs. ERNS.L - Volatility Comparison
SPDR MSCI ACWI UCITS ETF (ACWI.L) has a higher volatility of 3.61% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.26%. This indicates that ACWI.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.
Loading charts...
Volatility by Period
| ACWI.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 0.26% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 0.67% | +7.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.75% | 0.80% | +9.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.28% | 0.82% | +47.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.83% | 0.92% | +34.91% |
ACWI.L vs. ERNS.L - Expense Ratio Comparison
ACWI.L has a 0.40% expense ratio, which is higher than ERNS.L's 0.09% expense ratio.
Dividends
ACWI.L vs. ERNS.L - Dividend Comparison
ACWI.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 3.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 3.24% | 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
ACWI.L and ERNS.L have a correlation of 0.10, 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 0.40% for ACWI.L.
ACWI.L is categorized as Global Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for ACWI.L and 0.09% for ERNS.L.
Find the right allocation for ACWI.L and ERNS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer