ERNA.L vs. FLDB
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and FLDB (Fidelity Low Duration Bond ETF) are both exchange-traded funds - ERNA.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while FLDB is a Short-Term Bond fund actively managed by Fidelity. ERNA.L is passively managed, while FLDB is actively managed. Over the past year, ERNA.L returned 4.36% vs 4.20% for FLDB. At a 0.03 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.20%/yr for FLDB.
Performance
ERNA.L vs. FLDB - Performance Comparison
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Returns By Period
In the year-to-date period, ERNA.L achieves a 1.64% return, which is significantly higher than FLDB's 1.36% return.
ERNA.L
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.64%
- 6M
- 1.95%
- 1Y
- 4.36%
- 3Y*
- 5.21%
- 5Y*
- 3.77%
- 10Y*
- —
FLDB
- 1D
- 0.08%
- 1M
- 0.31%
- YTD
- 1.36%
- 6M
- 1.82%
- 1Y
- 4.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ERNA.L vs. FLDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 1.64% | 4.75% | 4.75% |
FLDB Fidelity Low Duration Bond ETF | 1.36% | 4.93% | 4.29% |
Correlation
The correlation between ERNA.L and FLDB is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2024 | 0.03 |
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Return for Risk
ERNA.L vs. FLDB — Risk / Return Rank
ERNA.L
FLDB
ERNA.L vs. FLDB - 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 Fidelity Low Duration Bond ETF (FLDB). 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 | FLDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 2.11 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 25.15 | -4.05 |
| Martin ratioReturn relative to average drawdown | 82.85 | 93.64 | -10.79 |
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 | FLDB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 4.68 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 3.59 | -2.16 |
Drawdowns
ERNA.L vs. FLDB - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, which is greater than FLDB's maximum drawdown of -0.49%. Use the drawdown chart below to compare losses from any high point for ERNA.L and FLDB.
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Drawdown Indicators
| ERNA.L | FLDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -0.49% | -8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -0.17% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.05% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.04% | +0.01% |
Volatility
ERNA.L vs. FLDB - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while Fidelity Low Duration Bond ETF (FLDB) has a volatility of 0.34%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than FLDB 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 | FLDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 0.34% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.62% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 0.90% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 1.31% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 1.31% | +0.86% |
ERNA.L vs. FLDB - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is lower than FLDB'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
ERNA.L vs. FLDB - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while FLDB's dividend yield for the trailing twelve months is around 4.45%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% |
FLDB Fidelity Low Duration Bond ETF | 4.45% | 4.72% | 3.58% |
Frequently Asked Questions
ERNA.L and FLDB have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.20% for FLDB.
ERNA.L is categorized as Corporate Bonds, while FLDB is Short-Term Bond. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.09% for ERNA.L and 0.20% for FLDB.
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