ERNA.L vs. ERNU.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both Corporate Bonds funds from iShares tracking the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, ERNA.L returned 3.77%/yr vs 3.75%/yr for ERNU.L. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
ERNA.L vs. ERNU.L - Performance Comparison
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Different Trading Currencies
ERNA.L is traded in USD, while ERNU.L is traded in GBP. To make them comparable, the ERNU.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with ERNA.L having a 1.64% return and ERNU.L slightly lower at 1.61%.
ERNA.L
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.64%
- 6M
- 1.95%
- 1Y
- 4.36%
- 3Y*
- 5.21%
- 5Y*
- 3.77%
- 10Y*
- —
ERNU.L
- 1D
- 0.14%
- 1M
- 0.47%
- YTD
- 1.61%
- 6M
- 2.05%
- 1Y
- 4.39%
- 3Y*
- 5.10%
- 5Y*
- 3.75%
- 10Y*
- 2.75%
ERNA.L vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 1.64% | 4.75% | 5.66% | 5.50% | 1.46% | 0.11% | 1.27% | 3.19% | 1.09% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.61% | 4.91% | 5.60% | 4.92% | 1.32% | 0.60% | 0.83% | 3.85% | 0.83% |
Correlation
The correlation between ERNA.L and ERNU.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 | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.05 |
The correlation between ERNA.L and ERNU.L shifts across timeframes, from -0.08 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERNA.L vs. ERNU.L — Risk / Return Rank
ERNA.L
ERNU.L
ERNA.L vs. ERNU.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 USD Ultrashort Bond UCITS ETF (ERNU.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.
| ERNA.L | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.61 | ||
| Sortino ratioReturn per unit of downside risk | +6.73 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.19 | +1.12 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 4.60 | +16.50 |
| Martin ratioReturn relative to average drawdown | 82.85 | 14.97 | +67.89 |
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
| ERNA.L | ERNU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 1.04 | +3.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | 0.78 | +3.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.46 | +0.97 |
Drawdowns
ERNA.L vs. ERNU.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, which is greater than ERNU.L's maximum drawdown of -8.13%. Use the drawdown chart below to compare losses from any high point for ERNA.L and ERNU.L.
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Drawdown Indicators
| ERNA.L | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -8.13% | -0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -0.95% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | -1.00% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -2.54% | +1.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.13% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.11% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.57% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.29% | -0.24% |
Volatility
ERNA.L vs. ERNU.L - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a volatility of 1.50%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than ERNU.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 | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 1.50% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 3.57% | -2.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 4.22% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 4.79% | -3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 5.10% | -2.93% |
ERNA.L vs. ERNU.L - Expense Ratio Comparison
Both ERNA.L and ERNU.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. ERNU.L - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while ERNU.L's dividend yield for the trailing twelve months is around 5.69%.
| 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% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 5.69% | 4.68% | 5.45% | 5.00% | 1.55% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
Frequently Asked Questions
ERNA.L and ERNU.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.
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 ERNU.L have the same expense ratio: 0.09% per year.
Both ETFs track Bloomberg US Corp 1-3 Yr TR USD.
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