ERND.L vs. 0FLE.L
ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and 0FLE.L (iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist)) are both Ultrashort Bond funds from iShares - ERND.L tracks the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD) while 0FLE.L tracks the Bloomberg US Floating Rate Note<5 Years Index. Both are passively managed. Over the past 5 years, ERND.L returned 3.83%/yr vs 1.91%/yr for 0FLE.L. At a 0.01 correlation, their price movements are largely independent. ERND.L charges 0.09%/yr vs 0.12%/yr for 0FLE.L.
Performance
ERND.L vs. 0FLE.L - Performance Comparison
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Different Trading Currencies
ERND.L is traded in USD, while 0FLE.L is traded in EUR. To make them comparable, the 0FLE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERND.L achieves a 2.00% return, which is significantly higher than 0FLE.L's -0.70% return.
ERND.L
- 1D
- -0.02%
- 1M
- 0.30%
- 6M
- 1.83%
- YTD
- 2.00%
- 1Y
- 4.19%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
0FLE.L
- 1D
- 0.00%
- 1M
- -0.54%
- 6M
- -0.08%
- YTD
- -0.70%
- 1Y
- 1.70%
- 3Y*
- 4.50%
- 5Y*
- 1.91%
- 10Y*
- —
ERND.L vs. 0FLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 1.21% | 3.03% | 2.11% | 0.54% |
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | -0.70% | 16.48% | -1.60% | 7.49% | -6.47% | -7.28% | 6.92% | 0.79% | -6.24% | 1.93% |
Correlation
The correlation between ERND.L and 0FLE.L is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2017 | 0.01 |
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Return for Risk
ERND.L vs. 0FLE.L — Risk / Return Rank
ERND.L
0FLE.L
ERND.L vs. 0FLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) and iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ERND.L | 0FLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.99 | ||
| Sortino ratioReturn per unit of downside risk | +8.59 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.04 | +1.28 |
| Calmar ratioReturn relative to maximum drawdown | 20.61 | 0.27 | +20.34 |
| Martin ratioReturn relative to average drawdown | 101.10 | 0.60 | +100.50 |
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Drawdowns
ERND.L vs. 0FLE.L - Drawdown Comparison
The maximum ERND.L drawdown since its inception was -7.48%, smaller than the maximum 0FLE.L drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for ERND.L and 0FLE.L.
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Drawdown Indicators
| ERND.L | 0FLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.48% | -24.67% | +17.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -5.06% | +4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -7.39% | +6.75% |
Max Drawdown (5Y)Largest decline over 5 years | -1.06% | -20.07% | +19.01% |
Max Drawdown (10Y)Largest decline over 10 years | -7.48% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -3.36% | +3.34% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -8.64% | +8.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 2.26% | -2.22% |
Volatility
ERND.L vs. 0FLE.L - Volatility Comparison
The current volatility for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) is 0.21%, while iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.L) has a volatility of 2.27%. This indicates that ERND.L experiences smaller price fluctuations and is considered to be less risky than 0FLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERND.L | 0FLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 2.27% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 5.10% | -4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 6.77% | -5.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.26% | 8.55% | -7.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.08% | 7.89% | -5.81% |
ERND.L vs. 0FLE.L - Expense Ratio Comparison
ERND.L has a 0.09% expense ratio, which is lower than 0FLE.L's 0.12% 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
ERND.L vs. 0FLE.L - Dividend Comparison
ERND.L's dividend yield for the trailing twelve months is around 4.31%, less than 0FLE.L's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 4.69% | 5.04% | 6.01% | 5.52% | 1.49% | 0.58% | 1.60% | 2.96% | 2.07% | 0.36% | 0.00% | 0.00% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
Frequently Asked Questions
ERND.L and 0FLE.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERND.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERND.L is cheaper with a 0.09% expense ratio, compared with 0.12% for 0FLE.L.
ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD), while 0FLE.L tracks Bloomberg US Floating Rate Note<5 Years Index. Their fees differ too: 0.09% for ERND.L and 0.12% for 0FLE.L.
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