ERNA.L vs. XYLD.L

Last updated Jun 5, 2026

ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) and XYLD.L (Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D) are both Corporate Bonds funds - ERNA.L tracks the Bloomberg US Corp 1-3 Yr TR USD while XYLD.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 1.87%/yr for XYLD.L. At a 0.13 correlation, their price movements are largely independent. ERNA.L charges 0.09%/yr vs 0.16%/yr for XYLD.L.

Performance

ERNA.L vs. XYLD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) and Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D (XYLD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERNA.L achieves a 1.64% return, which is significantly higher than XYLD.L's 0.71% 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*: —

XYLD.L

• 1D: 0.13%
• 1M: 0.25%
• YTD: 0.71%
• 6M: 1.14%
• 1Y: 4.16%
• 3Y*: 5.19%
• 5Y*: 1.87%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ERNA.L vs. XYLD.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%
XYLD.L Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D	0.71%	6.19%	4.89%	5.76%	-8.70%	0.36%	10.29%	17.18%	-0.15%

Correlation

The correlation between ERNA.L and XYLD.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018	0.13

Return for Risk

ERNA.L vs. XYLD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ERNA.L

ERNA.L Risk / Return Rank: 98
ERNA.L Sharpe Ratio Rank: 97
ERNA.L Sortino Ratio Rank: 98
ERNA.L Omega Ratio Rank: 98
ERNA.L Calmar Ratio Rank: 99
ERNA.L Martin Ratio Rank: 98

XYLD.L

XYLD.L Risk / Return Rank: 71
XYLD.L Sharpe Ratio Rank: 63
XYLD.L Sortino Ratio Rank: 72
XYLD.L Omega Ratio Rank: 64
XYLD.L Calmar Ratio Rank: 78
XYLD.L Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ERNA.L vs. XYLD.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 Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D (XYLD.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	XYLD.L	Difference
Sharpe ratio: Return per unit of total volatility	4.65	2.07	+2.58
Sortino ratio: Return per unit of downside risk	8.31	3.18	+5.12
Omega ratio: Gain probability vs. loss probability	2.31	1.38	+0.93
Calmar ratio: Return relative to maximum drawdown	21.10	3.88	+17.22
Martin ratio: Return relative to average drawdown	82.85	15.03	+67.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERNA.L vs. XYLD.L - Sharpe Ratio Comparison

The current ERNA.L Sharpe Ratio is 4.65, which is higher than the XYLD.L Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of ERNA.L and XYLD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ERNA.L	XYLD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.65	2.07	+2.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	4.03	0.58	+3.45
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	0.69	+0.74

Drawdowns

ERNA.L vs. XYLD.L - Drawdown Comparison

The maximum ERNA.L drawdown since its inception was -8.63%, smaller than the maximum XYLD.L drawdown of -18.93%. Use the drawdown chart below to compare losses from any high point for ERNA.L and XYLD.L.

Drawdown Indicators

	ERNA.L	XYLD.L	Difference
Max Drawdown Largest peak-to-trough decline	-8.63%	-18.93%	+10.30%
Max Drawdown (1Y) Largest decline over 1 year	-0.20%	-1.07%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-0.38%	-1.42%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-0.81%	-12.38%	+11.57%
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.10%	-3.12%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.28%	-0.23%

Volatility

ERNA.L vs. XYLD.L - Volatility Comparison

The current volatility for iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) is 0.30%, while Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D (XYLD.L) has a volatility of 0.88%. This indicates that ERNA.L experiences smaller price fluctuations and is considered to be less risky than XYLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERNA.L	XYLD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.30%	0.88%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	0.86%	1.56%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	0.93%	2.01%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.93%	3.22%	-2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.17%	5.83%	-3.66%

ERNA.L vs. XYLD.L - Expense Ratio Comparison

ERNA.L has a 0.09% expense ratio, which is lower than XYLD.L's 0.16% 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. XYLD.L - Dividend Comparison

ERNA.L has not paid dividends to shareholders, while XYLD.L's dividend yield for the trailing twelve months is around 3.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
XYLD.L Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D	3.76%	3.61%	3.34%	2.88%	6.03%	3.88%	3.78%	2.92%

Frequently Asked Questions

Can I hold both ERNA.L and XYLD.L in my portfolio?

ERNA.L and XYLD.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ERNA.L or XYLD.L?

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.

Which ETF is cheaper, ERNA.L or XYLD.L?

ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.16% for XYLD.L.

What is the main difference between ERNA.L and XYLD.L?

ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while XYLD.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.09% for ERNA.L and 0.16% for XYLD.L.