ERND.L vs. BB3M.L
ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and BB3M.L (JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD) are both Ultrashort Bond funds. ERND.L is passively managed, while BB3M.L is actively managed. Over the past 5 years, ERND.L returned 3.83%/yr vs 3.54%/yr for BB3M.L. At a 0.06 correlation, their price movements are largely independent. ERND.L charges 0.09%/yr vs 0.07%/yr for BB3M.L.
Performance
ERND.L vs. BB3M.L - Performance Comparison
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Returns By Period
In the year-to-date period, ERND.L achieves a 2.00% return, which is significantly higher than BB3M.L's 1.82% 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%
BB3M.L
- 1D
- 0.07%
- 1M
- 0.32%
- 6M
- 1.82%
- YTD
- 1.82%
- 1Y
- 3.90%
- 3Y*
- 4.61%
- 5Y*
- 3.54%
- 10Y*
- —
ERND.L vs. BB3M.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | -0.15% |
BB3M.L JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD | 1.82% | 4.28% | 5.24% | 4.94% | 1.46% | -0.02% |
Correlation
The correlation between ERND.L and BB3M.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2021 | 0.06 |
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Return for Risk
ERND.L vs. BB3M.L — Risk / Return Rank
ERND.L
BB3M.L
ERND.L vs. BB3M.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 JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD (BB3M.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 | BB3M.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 2.19 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 20.61 | 28.58 | -7.97 |
| Martin ratioReturn relative to average drawdown | 101.10 | 103.46 | -2.36 |
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Drawdowns
ERND.L vs. BB3M.L - Drawdown Comparison
The maximum ERND.L drawdown since its inception was -7.48%, which is greater than BB3M.L's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for ERND.L and BB3M.L.
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Drawdown Indicators
| ERND.L | BB3M.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.48% | -1.19% | -6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -0.14% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -0.23% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -1.06% | -1.19% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -7.48% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.03% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.04% | 0.00% |
Volatility
ERND.L vs. BB3M.L - Volatility Comparison
The current volatility for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) is 0.21%, while JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD (BB3M.L) has a volatility of 0.24%. This indicates that ERND.L experiences smaller price fluctuations and is considered to be less risky than BB3M.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 | BB3M.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 0.24% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 0.61% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 0.80% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.26% | 0.99% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.08% | 0.96% | +1.12% |
ERND.L vs. BB3M.L - Expense Ratio Comparison
ERND.L has a 0.09% expense ratio, which is higher than BB3M.L's 0.07% expense ratio. However, 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. BB3M.L - Dividend Comparison
ERND.L's dividend yield for the trailing twelve months is around 4.31%, while BB3M.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BB3M.L JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 BB3M.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BB3M.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BB3M.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERND.L.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for ERND.L and 0.07% for BB3M.L.
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