ERNA.L vs. UC81.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) are both Corporate Bonds funds tracking the Bloomberg US Corp 1-3 Yr TR USD, from iShares and UBS respectively. Both are passively managed. Over the past 5 years, ERNA.L returned 3.77%/yr vs 2.11%/yr for UC81.L. At a 0.13 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.18%/yr for UC81.L.
Performance
ERNA.L vs. UC81.L - Performance Comparison
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Different Trading Currencies
ERNA.L is traded in USD, while UC81.L is traded in GBp. To make them comparable, the UC81.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 higher than UC81.L's 0.24% 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*
- —
UC81.L
- 1D
- 0.22%
- 1M
- 0.27%
- YTD
- 0.24%
- 6M
- 0.93%
- 1Y
- 4.34%
- 3Y*
- 5.28%
- 5Y*
- 2.11%
- 10Y*
- 2.56%
ERNA.L vs. UC81.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% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 0.24% | 7.33% | 4.67% | 5.68% | -6.44% | -0.59% | 4.62% | 8.41% | 0.84% |
Correlation
The correlation between ERNA.L and UC81.L is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.13 |
The correlation between ERNA.L and UC81.L shifts across timeframes, from 0.00 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERNA.L vs. UC81.L — Risk / Return Rank
ERNA.L
UC81.L
ERNA.L vs. UC81.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 UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.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 | UC81.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.64 | ||
| Sortino ratioReturn per unit of downside risk | +6.79 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.17 | +1.14 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 2.26 | +18.84 |
| Martin ratioReturn relative to average drawdown | 82.85 | 8.04 | +74.82 |
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 | UC81.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 1.01 | +3.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | 0.39 | +3.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.46 | +0.97 |
Drawdowns
ERNA.L vs. UC81.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum UC81.L drawdown of -13.53%. Use the drawdown chart below to compare losses from any high point for ERNA.L and UC81.L.
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Drawdown Indicators
| ERNA.L | UC81.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -13.53% | +4.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -1.91% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | -2.05% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -11.02% | +10.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.53% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.72% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -1.94% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.54% | -0.49% |
Volatility
ERNA.L vs. UC81.L - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) has a volatility of 1.41%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than UC81.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 | UC81.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 1.41% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 3.32% | -2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 4.28% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 5.42% | -4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 5.73% | -3.56% |
ERNA.L vs. UC81.L - Expense Ratio Comparison
ERNA.L has a 0.09% expense ratio, which is lower than UC81.L's 0.18% 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. UC81.L - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while UC81.L's dividend yield for the trailing twelve months is around 4.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 4.67% | 5.59% | 4.77% | 3.28% | 1.36% | 1.58% | 2.75% | 2.90% | 2.20% | 2.16% | 1.86% | 0.84% |
Frequently Asked Questions
ERNA.L and UC81.L have a correlation of 0.00, 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 0.18% for UC81.L.
Both ETFs track Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.09% for ERNA.L and 0.18% for UC81.L.
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