ERN1.L vs. BTC-USD
ERN1.L (iShares € Ultrashort Bond UCITS ETF) is Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ERN1.L returned 1.61%/yr vs 58.00%/yr for BTC-USD. At a 0.05 correlation, their price movements are largely independent.
Performance
ERN1.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
ERN1.L is traded in GBP, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERN1.L achieves a -0.32% return, which is significantly higher than BTC-USD's -26.88% return. Over the past 10 years, ERN1.L has underperformed BTC-USD with an annualized return of 1.61%, while BTC-USD has yielded a comparatively higher 58.00% annualized return.
ERN1.L
- 1D
- 0.07%
- 1M
- 0.08%
- YTD
- -0.32%
- 6M
- -0.23%
- 1Y
- 3.26%
- 3Y*
- 3.55%
- 5Y*
- 2.20%
- 10Y*
- 1.61%
BTC-USD
- 1D
- 0.00%
- 1M
- -17.00%
- YTD
- -26.88%
- 6M
- -26.79%
- 1Y
- -39.13%
- 3Y*
- 25.28%
- 5Y*
- 15.84%
- 10Y*
- 58.00%
ERN1.L vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERN1.L iShares € Ultrashort Bond UCITS ETF | -0.32% | 8.04% | -0.60% | 1.37% | 5.27% | -6.83% | 5.66% | -4.76% | 0.45% | 3.37% |
BTC-USD Bitcoin | -29.05% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 1,284.82% |
Correlation
The correlation between ERN1.L and BTC-USD is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.05 |
The correlation between ERN1.L and BTC-USD shifts across timeframes, from -0.10 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERN1.L vs. BTC-USD — Risk / Return Rank
ERN1.L
BTC-USD
ERN1.L vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF (ERN1.L) and Bitcoin (BTC-USD). 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.
| ERN1.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.86 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | -0.77 | +2.52 |
| Martin ratioReturn relative to average drawdown | 3.64 | -1.29 | +4.93 |
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Drawdowns
ERN1.L vs. BTC-USD - Drawdown Comparison
The maximum ERN1.L drawdown since its inception was -29.99%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for ERN1.L and BTC-USD.
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Drawdown Indicators
| ERN1.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.99% | -84.19% | +54.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.86% | -50.55% | +48.69% |
Max Drawdown (3Y)Largest decline over 3 years | -2.97% | -50.55% | +47.58% |
Max Drawdown (5Y)Largest decline over 5 years | -4.83% | -73.24% | +68.41% |
Max Drawdown (10Y)Largest decline over 10 years | -11.78% | -82.15% | +70.37% |
Current DrawdownCurrent decline from peak | -3.59% | -48.68% | +45.09% |
Average DrawdownAverage peak-to-trough decline | -13.31% | -40.39% | +27.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 31.85% | -30.95% |
Volatility
ERN1.L vs. BTC-USD - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF (ERN1.L) is 0.92%, while Bitcoin (BTC-USD) has a volatility of 11.81%. This indicates that ERN1.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERN1.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 11.81% | -10.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 33.95% | -31.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 34.63% | -30.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 44.06% | -38.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.72% | 55.40% | -48.68% |
Frequently Asked Questions
ERN1.L and BTC-USD 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.
Find the right allocation for ERN1.L and BTC-USD
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