BBM3.L vs. ERNS.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. BBM3.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 3.62%/yr for ERNS.L. At a correlation of -0.06, they often move in opposite directions. BBM3.L charges 0.07%/yr vs 0.09%/yr for ERNS.L.
Performance
BBM3.L vs. ERNS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BBM3.L having a 1.63% return and ERNS.L slightly lower at 1.58%.
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
BBM3.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.02% |
Correlation
The correlation between BBM3.L and ERNS.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.06 |
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Return for Risk
BBM3.L vs. ERNS.L — Risk / Return Rank
BBM3.L
ERNS.L
BBM3.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.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.
| BBM3.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.54 | ||
| Sortino ratioReturn per unit of downside risk | -8.35 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 2.39 | -1.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 20.38 | -19.29 |
| Martin ratioReturn relative to average drawdown | 2.71 | 108.76 | -106.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBM3.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 5.30 | -4.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 4.34 | -3.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 2.23 | -1.73 |
Drawdowns
BBM3.L vs. ERNS.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, 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 BBM3.L and ERNS.L.
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Drawdown Indicators
| BBM3.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -1.51% | -13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -0.22% | -4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -0.22% | -9.55% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -0.36% | -14.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -5.65% | 0.00% | -5.65% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -0.05% | -6.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 0.04% | +1.77% |
Volatility
BBM3.L vs. ERNS.L - Volatility Comparison
JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a higher volatility of 1.89% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that BBM3.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
| BBM3.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 0.36% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 0.68% | +4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 0.84% | +5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 0.83% | +7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 0.92% | +7.46% |
BBM3.L vs. ERNS.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is lower than ERNS.L's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBM3.L vs. ERNS.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 5.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 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) | 5.65% | 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
BBM3.L and ERNS.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERNS.L.
BBM3.L is categorized as Government Bonds, while ERNS.L is Ultrashort Bond. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.07% for BBM3.L and 0.09% for ERNS.L.
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