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ERN1.L vs. SGLN.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ERN1.L vs. SGLN.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares € Ultrashort Bond UCITS ETF (ERN1.L) and iShares Physical Gold ETC (SGLN.L).

ERN1.L and SGLN.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERN1.L is a passively managed fund by iShares that tracks the performance of the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. It was launched on Oct 16, 2013. SGLN.L is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Apr 8, 2011. Both ERN1.L and SGLN.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ERN1.L vs. SGLN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares € Ultrashort Bond UCITS ETF (ERN1.L) and iShares Physical Gold ETC (SGLN.L). The values are adjusted to include any dividend payments, if applicable.

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ERN1.L vs. SGLN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ERN1.L
iShares € Ultrashort Bond UCITS ETF		-0.37%926.99%26.16%-339.28%5.26%-6.83%5.64%-4.76%0.45%3.37%
SGLN.L
iShares Physical Gold ETC		12.05%53.66%28.20%7.24%11.84%-2.57%19.62%14.63%4.36%1.68%
Different Trading Currencies

ERN1.L is traded in GBP, while SGLN.L is traded in GBp. To make them comparable, the SGLN.L 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 -0.37% return, which is significantly lower than SGLN.L's 12.05% return.

ERN1.L

1D
-0.09%
1M
-0.76%
YTD
-0.37%
6M
-599.07%
1Y
908.00%
3Y*
—
5Y*
—
10Y*
—

SGLN.L

1D
2.65%
1M
-9.41%
YTD
12.05%
6M
25.13%
1Y
48.12%
3Y*
30.78%
5Y*
23.47%
10Y*
15.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares € Ultrashort Bond UCITS ETF

iShares Physical Gold ETC

Often compared with ERN1.L:
ERN1.L vs. XEON.DEERN1.L vs. EUNW.DEERN1.L vs. ICSHERN1.L vs. TRET.DEERN1.L vs. IB01.LERN1.L vs. CE31.LERN1.L vs. EFRN.DE
Often compared with SGLN.L:
SGLN.L vs. IGLN.LSGLN.L vs. GLDSGLN.L vs. IAUSGLN.L vs. SGLS.LSGLN.L vs. GLDW.LSGLN.L vs. SGLD.TOSGLN.L vs. GBSP.L

ERN1.L vs. SGLN.L - Expense Ratio Comparison

ERN1.L
iShares € Ultrashort Bond UCITS ETF

Return for Risk

ERN1.L vs. SGLN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ERN1.L
ERN1.L Risk / Return Rank: 3232
Overall Rank
ERN1.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
ERN1.L Sortino Ratio Rank: 11
Sortino Ratio Rank
ERN1.L Omega Ratio Rank: 00
Omega Ratio Rank
ERN1.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
ERN1.L Martin Ratio Rank: 3131
Martin Ratio Rank
SGLN.L
SGLN.L Risk / Return Rank: 8888
Overall Rank
SGLN.L Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
SGLN.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
SGLN.L Omega Ratio Rank: 8888
Omega Ratio Rank
SGLN.L Calmar Ratio Rank: 8787
Calmar Ratio Rank
SGLN.L Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ERN1.L vs. SGLN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF (ERN1.L) and iShares Physical Gold ETC (SGLN.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.

ERN1.LSGLN.LDifference

Sharpe ratio

Return per unit of total volatility

1.36

1.96

-0.60

Sortino ratio

Return per unit of downside risk

-1.33

2.41

-3.74

Omega ratio

Gain probability vs. loss probability

0.03

1.37

-1.34

Calmar ratio

Return relative to maximum drawdown

1.52

2.77

-1.25

Martin ratio

Return relative to average drawdown

2.78

11.39

-8.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERN1.L vs. SGLN.L - Sharpe Ratio Comparison

The current ERN1.L Sharpe Ratio is 1.36, which is lower than the SGLN.L Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of ERN1.L and SGLN.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ERN1.LSGLN.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.36

1.96

-0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.45

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.96

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.59

—

Correlation

The correlation between ERN1.L and SGLN.L is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ERN1.L vs. SGLN.L - Dividend Comparison

ERN1.L's dividend yield for the trailing twelve months is around 271.43%, while SGLN.L has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
ERN1.L
iShares € Ultrashort Bond UCITS ETF		271.43%270.43%382.39%214.76%0.00%0.00%0.00%0.00%0.00%0.00%3.00%13.08%
SGLN.L
iShares Physical Gold ETC		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

ERN1.L vs. SGLN.L - Drawdown Comparison

The maximum ERN1.L drawdown since its inception was -596.86%, which is greater than SGLN.L's maximum drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for ERN1.L and SGLN.L.

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Drawdown Indicators

ERN1.LSGLN.LDifference

Max Drawdown

Largest peak-to-trough decline

-596.86%

-41.71%

-555.15%

Max Drawdown (1Y)

Largest decline over 1 year

-297.73%

-17.57%

-280.16%

Max Drawdown (5Y)

Largest decline over 5 years

-596.86%

-17.57%

-579.29%

Max Drawdown (10Y)

Largest decline over 10 years

-596.86%

-21.91%

-574.95%

Current Drawdown

Current decline from peak

-590.68%

-9.41%

-581.27%

Average Drawdown

Average peak-to-trough decline

-36.27%

-14.78%

-21.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

326.57%

4.27%

+322.30%

Volatility

ERN1.L vs. SGLN.L - Volatility Comparison

The current volatility for iShares € Ultrashort Bond UCITS ETF (ERN1.L) is 1.28%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 11.66%. This indicates that ERN1.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ERN1.LSGLN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.28%

11.66%

-10.38%

Volatility (6M)

Calculated over the trailing 6-month period

3.06%

21.22%

-18.16%

Volatility (1Y)

Calculated over the trailing 1-year period

661.69%

24.48%

+637.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

344.47%

16.15%

+328.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

243.54%

15.75%

+227.79%