ERNA.L vs. ERND.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - ERNA.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). Both are passively managed. Over the past 5 years, ERNA.L returned 3.85%/yr vs 3.83%/yr for ERND.L. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
ERNA.L vs. ERND.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ERNA.L having a 2.07% return and ERND.L slightly lower at 2.00%.
ERNA.L
- 1D
- 0.16%
- 1M
- 0.31%
- 6M
- 1.91%
- YTD
- 2.07%
- 1Y
- 4.40%
- 3Y*
- 5.12%
- 5Y*
- 3.85%
- 10Y*
- —
ERND.L
- 1D
- -0.02%
- 1M
- 0.30%
- 6M
- 1.83%
- YTD
- 2.00%
- 1Y
- 4.19%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
ERNA.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 2.07% | 4.85% | 5.65% | 5.44% | 1.46% | 0.11% | 1.27% | 3.19% | 1.14% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 1.21% | 3.03% | 1.22% |
Correlation
The correlation between ERNA.L and ERND.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.21 |
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Return for Risk
ERNA.L vs. ERND.L — Risk / Return Rank
ERNA.L
ERND.L
ERNA.L vs. ERND.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) and iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.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.
| ERNA.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 2.14 | 2.31 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 13.86 | 20.61 | -6.75 |
| Martin ratioReturn relative to average drawdown | 58.00 | 101.10 | -43.10 |
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Drawdowns
ERNA.L vs. ERND.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, which is greater than ERND.L's maximum drawdown of -7.48%. Use the drawdown chart below to compare losses from any high point for ERNA.L and ERND.L.
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Drawdown Indicators
| ERNA.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -7.48% | -1.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.32% | -0.20% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -0.64% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -1.06% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.48% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.08% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.04% | +0.04% |
Volatility
ERNA.L vs. ERND.L - Volatility Comparison
iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) has a higher volatility of 0.39% compared to iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) at 0.21%. This indicates that ERNA.L's price experiences larger fluctuations and is considered to be riskier than ERND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNA.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.21% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 0.66% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.43% | 0.79% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.24% | 1.26% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 2.08% | +0.17% |
ERNA.L vs. ERND.L - Expense Ratio Comparison
Both ERNA.L and ERND.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ERNA.L vs. ERND.L - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while ERND.L's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond 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% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
Frequently Asked Questions
ERNA.L and ERND.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ERNA.L and ERND.L have the same expense ratio: 0.09% per year.
ERNA.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD).
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