ERNA.L vs. SPHY
Compare and contrast key facts about iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) and SPDR Portfolio High Yield Bond ETF (SPHY).
ERNA.L and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERNA.L is a passively managed fund by iShares that tracks the performance of the Bloomberg US Corp 1-3 Yr TR USD. It was launched on Jun 29, 2018. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012. Both ERNA.L and SPHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ERNA.L or SPHY.
Key characteristics
| ERNA.L | SPHY | |
|---|---|---|
| YTD Return | 2.12% | 2.29% |
| 1Y Return | 5.89% | 11.68% |
| 3Y Return (Ann) | 3.01% | 2.25% |
| 5Y Return (Ann) | 2.42% | 4.30% |
| Sharpe Ratio | 9.09 | 2.02 |
| Daily Std Dev | 0.65% | 5.79% |
| Max Drawdown | -8.63% | -21.97% |
| Current Drawdown | 0.00% | -0.17% |
Correlation
The correlation between ERNA.L and SPHY is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
ERNA.L vs. SPHY - Performance Comparison
In the year-to-date period, ERNA.L achieves a 2.12% return, which is significantly lower than SPHY's 2.29% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ERNA.L vs. SPHY - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is lower than SPHY's 0.10% 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%.
Risk-Adjusted Performance
ERNA.L vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
Dividends
ERNA.L vs. SPHY - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while SPHY's dividend yield for the trailing twelve months is around 7.71%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.71% | 7.30% | 6.47% | 5.14% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% | 3.98% | 4.41% |
Drawdowns
ERNA.L vs. SPHY - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for ERNA.L and SPHY. For additional features, visit the drawdowns tool.
Volatility
ERNA.L vs. SPHY - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.14%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 1.30%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.