ERNA.L vs. JEBP.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and JEBP.L (JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)) are both Corporate Bonds funds. ERNA.L is passively managed, while JEBP.L is actively managed. Over the past 3 years, ERNA.L returned 5.12%/yr vs 7.17%/yr for JEBP.L. At a 0.13 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.04%/yr for JEBP.L.
Performance
ERNA.L vs. JEBP.L - Performance Comparison
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Different Trading Currencies
ERNA.L is traded in USD, while JEBP.L is traded in GBP. To make them comparable, the JEBP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNA.L achieves a 2.07% return, which is significantly higher than JEBP.L's 1.31% return.
ERNA.L
- 1D
- 0.00%
- 1M
- 0.31%
- 6M
- 1.91%
- YTD
- 2.07%
- 1Y
- 4.23%
- 3Y*
- 5.12%
- 5Y*
- 3.85%
- 10Y*
- —
JEBP.L
- 1D
- -0.24%
- 1M
- 0.83%
- 6M
- 1.48%
- YTD
- 1.31%
- 1Y
- 3.59%
- 3Y*
- 7.17%
- 5Y*
- —
- 10Y*
- —
ERNA.L vs. JEBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 2.07% | 4.85% | 5.65% | 5.44% | 1.46% | -0.06% |
JEBP.L JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) | 1.31% | 13.16% | 4.12% | 14.94% | -21.57% | -0.69% |
Correlation
The correlation between ERNA.L and JEBP.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.13 |
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Return for Risk
ERNA.L vs. JEBP.L — Risk / Return Rank
ERNA.L
JEBP.L
ERNA.L vs. JEBP.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 JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JEBP.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 | JEBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +4.43 | ||
| Omega ratioGain probability vs. loss probability | 2.10 | 1.08 | +1.01 |
| Calmar ratioReturn relative to maximum drawdown | 13.33 | 0.56 | +12.77 |
| Martin ratioReturn relative to average drawdown | 55.76 | 1.49 | +54.27 |
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Drawdowns
ERNA.L vs. JEBP.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum JEBP.L drawdown of -32.59%. Use the drawdown chart below to compare losses from any high point for ERNA.L and JEBP.L.
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Drawdown Indicators
| ERNA.L | JEBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -32.59% | +23.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.32% | -6.37% | +6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -8.63% | +8.30% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.21% | +2.21% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -9.94% | +9.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 2.41% | -2.33% |
Volatility
ERNA.L vs. JEBP.L - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.34%, while JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JEBP.L) has a volatility of 1.86%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than JEBP.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 | JEBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 1.86% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 6.36% | -5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.41% | 8.01% | -6.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.24% | 10.71% | -9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 10.71% | -8.46% |
ERNA.L vs. JEBP.L - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is higher than JEBP.L's 0.04% expense ratio. However, 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. JEBP.L - Dividend Comparison
Neither ERNA.L nor JEBP.L has paid dividends to shareholders.
Frequently Asked Questions
ERNA.L and JEBP.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEBP.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEBP.L is cheaper with a 0.04% expense ratio, compared with 0.09% for ERNA.L.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for ERNA.L and 0.04% for JEBP.L.
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