ERNA.L vs. SWDA.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and SWDA.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 SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, ERNA.L returned 3.77%/yr vs 11.87%/yr for SWDA.L. At a 0.06 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.20%/yr for SWDA.L.
Performance
ERNA.L vs. SWDA.L - Performance Comparison
Loading charts...
Different Trading Currencies
ERNA.L is traded in USD, while SWDA.L is traded in GBp. To make them comparable, the SWDA.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 1.64% return, which is significantly lower than SWDA.L's 9.81% 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*
- —
SWDA.L
- 1D
- 0.20%
- 1M
- 4.22%
- YTD
- 9.81%
- 6M
- 11.17%
- 1Y
- 26.04%
- 3Y*
- 20.71%
- 5Y*
- 11.87%
- 10Y*
- 13.08%
ERNA.L vs. SWDA.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% |
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 9.81% | 21.14% | 19.09% | 23.79% | -18.13% | 22.52% | 15.68% | 27.97% | -9.24% |
Correlation
The correlation between ERNA.L and SWDA.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
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 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ERNA.L vs. SWDA.L — Risk / Return Rank
ERNA.L
SWDA.L
ERNA.L vs. SWDA.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) (SWDA.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 | SWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +4.94 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.41 | +0.90 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 3.02 | +18.09 |
| Martin ratioReturn relative to average drawdown | 82.85 | 13.29 | +69.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ERNA.L | SWDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 2.27 | +2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | 0.78 | +3.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.73 | +0.70 |
Drawdowns
ERNA.L vs. SWDA.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum SWDA.L drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for ERNA.L and SWDA.L.
Loading charts...
Drawdown Indicators
| ERNA.L | SWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -33.62% | +24.99% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -8.59% | +8.39% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | -17.07% | +16.69% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -26.50% | +25.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.62% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.42% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -4.58% | +4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 1.95% | -1.90% |
Volatility
ERNA.L vs. SWDA.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) (SWDA.L) has a volatility of 2.81%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERNA.L | SWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 2.81% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 8.58% | -7.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 11.41% | -10.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 15.30% | -14.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 15.73% | -13.56% |
ERNA.L vs. SWDA.L - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is lower than SWDA.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. SWDA.L - Dividend Comparison
Neither ERNA.L nor SWDA.L has paid dividends to shareholders.
Frequently Asked Questions
ERNA.L and SWDA.L have a correlation of 0.11, 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 SWDA.L.
ERNA.L is categorized as Corporate Bonds, while SWDA.L is Global Equities. ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.09% for ERNA.L and 0.20% for SWDA.L.
Find the right allocation for ERNA.L and SWDA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer