ERNA.L vs. VUCP.L
ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and VUCP.L (Vanguard USD Corporate Bond UCITS ETF Distributing) are both Corporate Bonds funds - ERNA.L tracks the Bloomberg US Corp 1-3 Yr TR USD while VUCP.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, ERNA.L returned 3.77%/yr vs -0.05%/yr for VUCP.L. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
ERNA.L vs. VUCP.L - Performance Comparison
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Different Trading Currencies
ERNA.L is traded in USD, while VUCP.L is traded in GBP. To make them comparable, the VUCP.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 VUCP.L's -0.21% 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*
- —
VUCP.L
- 1D
- 0.34%
- 1M
- 0.55%
- YTD
- -0.21%
- 6M
- 0.27%
- 1Y
- 4.40%
- 3Y*
- 4.50%
- 5Y*
- -0.05%
- 10Y*
- 1.95%
ERNA.L vs. VUCP.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% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | -0.21% | 6.57% | 2.58% | 6.64% | -15.50% | -1.53% | 8.17% | 14.64% | -0.63% |
Correlation
The correlation between ERNA.L and VUCP.L is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.13 |
The correlation between ERNA.L and VUCP.L shifts across timeframes, from 0.07 (1 year) to 0.18 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERNA.L vs. VUCP.L — Risk / Return Rank
ERNA.L
VUCP.L
ERNA.L vs. VUCP.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 Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.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 | VUCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.85 | ||
| Sortino ratioReturn per unit of downside risk | +7.13 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.13 | +1.18 |
| Calmar ratioReturn relative to maximum drawdown | 21.10 | 1.32 | +19.78 |
| Martin ratioReturn relative to average drawdown | 82.85 | 3.99 | +78.86 |
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 | VUCP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 0.80 | +3.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.03 | -0.01 | +4.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.30 | +1.12 |
Drawdowns
ERNA.L vs. VUCP.L - Drawdown Comparison
The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum VUCP.L drawdown of -22.06%. Use the drawdown chart below to compare losses from any high point for ERNA.L and VUCP.L.
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Drawdown Indicators
| ERNA.L | VUCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.63% | -22.06% | +13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -3.31% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.38% | -6.13% | +5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -0.81% | -21.99% | +21.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.06% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.31% | +3.31% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -5.68% | +5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 1.10% | -1.05% |
Volatility
ERNA.L vs. VUCP.L - Volatility Comparison
The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.L) has a volatility of 1.74%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than VUCP.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 | VUCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 1.74% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 4.11% | -3.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 5.52% | -4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.93% | 7.64% | -6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 7.73% | -5.56% |
ERNA.L vs. VUCP.L - Expense Ratio Comparison
Both ERNA.L and VUCP.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ERNA.L vs. VUCP.L - Dividend Comparison
ERNA.L has not paid dividends to shareholders, while VUCP.L's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VUCP.L Vanguard USD Corporate Bond UCITS ETF Distributing | 3.85% | 4.02% | 4.73% | 3.57% | 2.79% | 1.85% | 2.36% | 2.64% | 2.58% | 2.57% | 1.73% |
Frequently Asked Questions
ERNA.L and VUCP.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ERNA.L and VUCP.L have the same expense ratio: 0.09% per year.
ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while VUCP.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and Vanguard.
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