ERN1.L vs. XGII.DE
ERN1.L (iShares € Ultrashort Bond UCITS ETF) and XGII.DE (Xtrackers II Global Inflation-Linked Bond UCITS ETF - EUR Hedged) are both exchange-traded funds - ERN1.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while XGII.DE is a Inflation-Protected Bonds fund tracking the Bloomberg World Government Inflation-Linked Bond (EUR Hedged). Both are passively managed. Over the past 10 years, ERN1.L returned 7.14%/yr vs 1.09%/yr for XGII.DE. A 0.62 correlation means they provide meaningful diversification when combined. ERN1.L charges 0.09%/yr vs 0.20%/yr for XGII.DE.
Performance
ERN1.L vs. XGII.DE - Performance Comparison
Loading charts...
Different Trading Currencies
ERN1.L is traded in GBP, while XGII.DE is traded in EUR. To make them comparable, the XGII.DE 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 -0.66% return, which is significantly lower than XGII.DE's 0.28% return. Over the past 10 years, ERN1.L has outperformed XGII.DE with an annualized return of 7.14%, while XGII.DE has yielded a comparatively lower 1.09% annualized return.
ERN1.L
- 1D
- 0.17%
- 1M
- 0.50%
- YTD
- -0.66%
- 6M
- -1.68%
- 1Y
- 1.60%
- 3Y*
- 20.59%
- 5Y*
- 12.09%
- 10Y*
- 7.14%
XGII.DE
- 1D
- 0.16%
- 1M
- 0.50%
- YTD
- 0.28%
- 6M
- -0.25%
- 1Y
- 5.14%
- 3Y*
- 1.18%
- 5Y*
- -2.49%
- 10Y*
- 1.09%
ERN1.L vs. XGII.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERN1.L iShares € Ultrashort Bond UCITS ETF | -0.66% | 5.12% | -4.27% | 72.37% | 5.26% | -6.83% | 5.64% | -4.76% | 0.45% | 3.37% |
XGII.DE Xtrackers II Global Inflation-Linked Bond UCITS ETF - EUR Hedged | 0.28% | 7.68% | -6.32% | -0.29% | -14.66% | -2.94% | 14.30% | -0.66% | -1.02% | 5.43% |
Correlation
The correlation between ERN1.L and XGII.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2013 | 0.62 |
The correlation between ERN1.L and XGII.DE shifts across timeframes, from 0.44 (5 years) to 0.62 (all time), reflecting how their relationship changes across market environments.
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
ERN1.L vs. XGII.DE — Risk / Return Rank
ERN1.L
XGII.DE
ERN1.L vs. XGII.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF (ERN1.L) and Xtrackers II Global Inflation-Linked Bond UCITS ETF - EUR Hedged (XGII.DE). 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.L | XGII.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.16 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 1.44 | -0.97 |
| Martin ratioReturn relative to average drawdown | 0.92 | 3.03 | -2.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ERN1.L | XGII.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 0.92 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | -0.28 | +0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.11 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.10 | +0.31 |
Drawdowns
ERN1.L vs. XGII.DE - Drawdown Comparison
The maximum ERN1.L drawdown since its inception was -11.79%, smaller than the maximum XGII.DE drawdown of -24.18%. Use the drawdown chart below to compare losses from any high point for ERN1.L and XGII.DE.
Loading charts...
Drawdown Indicators
| ERN1.L | XGII.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.79% | -24.18% | +12.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.41% | -3.56% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.78% | -7.72% | +0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -6.78% | -23.60% | +16.82% |
Max Drawdown (10Y)Largest decline over 10 years | -11.79% | -24.18% | +12.39% |
Current DrawdownCurrent decline from peak | -2.62% | -17.68% | +15.06% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -10.10% | +5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 1.69% | +0.05% |
Volatility
ERN1.L vs. XGII.DE - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF (ERN1.L) is 1.20%, while Xtrackers II Global Inflation-Linked Bond UCITS ETF - EUR Hedged (XGII.DE) has a volatility of 1.35%. This indicates that ERN1.L experiences smaller price fluctuations and is considered to be less risky than XGII.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERN1.L | XGII.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.35% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 3.71% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 5.60% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.29% | 8.80% | +24.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.27% | 9.99% | +14.28% |
ERN1.L vs. XGII.DE - Expense Ratio Comparison
ERN1.L has a 0.09% expense ratio, which is lower than XGII.DE's 0.20% 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
ERN1.L vs. XGII.DE - Dividend Comparison
ERN1.L has not paid dividends to shareholders, while XGII.DE's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERN1.L iShares € Ultrashort Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 41.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.00% | 13.08% |
XGII.DE Xtrackers II Global Inflation-Linked Bond UCITS ETF - EUR Hedged | 1.00% | 0.94% | 1.02% | 0.68% | 0.97% | 0.45% | 1.44% | 0.91% | 0.63% | 0.00% | 3.87% | 0.86% |
Frequently Asked Questions
ERN1.L and XGII.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERN1.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERN1.L is cheaper with a 0.09% expense ratio, compared with 0.20% for XGII.DE.
ERN1.L is categorized as Ultrashort Bond, while XGII.DE is Inflation-Protected Bonds. ERN1.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while XGII.DE tracks Bloomberg World Government Inflation-Linked Bond (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.09% for ERN1.L and 0.20% for XGII.DE.
Find the right allocation for ERN1.L and XGII.DE
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