ERNA.L vs. IWDA.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - ERNA.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while IWDA.L is a Global Equities fund tracking the MSCI World Index (Net). Both are passively managed. Over the past 5 years, ERNA.L returned 3.77%/yr vs 11.86%/yr for IWDA.L. At a 0.06 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.20%/yr for IWDA.L.
Performance
ERNA.L vs. IWDA.L - 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 lower than IWDA.L's 9.83% 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*
- —
IWDA.L
- 1D
- 0.10%
- 1M
- 4.07%
- YTD
- 9.83%
- 6M
- 10.98%
- 1Y
- 25.98%
- 3Y*
- 20.77%
- 5Y*
- 11.86%
- 10Y*
- 13.07%
ERNA.L vs. IWDA.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% |
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 9.83% | 21.03% | 19.11% | 24.27% | -18.11% | 22.19% | 16.06% | 27.13% | -8.93% |
Correlation
The correlation between ERNA.L and IWDA.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.06 |
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Return for Risk
ERNA.L vs. IWDA.L — Risk / Return Rank
ERNA.L
IWDA.L
ERNA.L vs. IWDA.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 Core MSCI World UCITS ETF USD (Acc) (IWDA.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 | IWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.48 | ||
| Sortino ratioReturn per unit of downside risk | +5.05 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.40 | +0.91 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 3.11 | +17.99 |
| Martin ratioReturn relative to average drawdown | 82.85 | 13.16 | +69.69 |
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 | IWDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 2.17 | +2.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | 0.76 | +3.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.79 | +0.63 |
Drawdowns
ERNA.L vs. IWDA.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum IWDA.L drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for ERNA.L and IWDA.L.
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Drawdown Indicators
| ERNA.L | IWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -34.11% | +25.48% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -8.31% | +8.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | -16.94% | +16.56% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -25.88% | +25.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.11% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.43% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -4.44% | +4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 1.97% | -1.92% |
Volatility
ERNA.L vs. IWDA.L - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) has a volatility of 3.40%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than IWDA.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 | IWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 3.40% | -3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 9.19% | -8.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 11.93% | -11.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 15.68% | -14.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 15.91% | -13.74% |
ERNA.L vs. IWDA.L - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is lower than IWDA.L'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. IWDA.L - Dividend Comparison
Neither ERNA.L nor IWDA.L has paid dividends to shareholders.
Frequently Asked Questions
ERNA.L and IWDA.L have a correlation of 0.14, 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 IWDA.L.
ERNA.L is categorized as Corporate Bonds, while IWDA.L is Global Equities. ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while IWDA.L tracks MSCI World Index (Net). Their fees differ too: 0.09% for ERNA.L and 0.20% for IWDA.L.
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