ERND.L vs. EIMI.L
ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both exchange-traded funds - ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD), while EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 10 years, ERND.L returned 2.76%/yr vs 9.25%/yr for EIMI.L. At a 0.06 correlation, their price movements are largely independent. ERND.L charges 0.09%/yr vs 0.18%/yr for EIMI.L.
Performance
ERND.L vs. EIMI.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 lower than EIMI.L's 18.64% return. Over the past 10 years, ERND.L has underperformed EIMI.L with an annualized return of 2.76%, while EIMI.L has yielded a comparatively higher 9.25% annualized 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%
EIMI.L
- 1D
- -0.30%
- 1M
- -6.07%
- 6M
- 13.34%
- YTD
- 18.64%
- 1Y
- 34.63%
- 3Y*
- 19.30%
- 5Y*
- 7.21%
- 10Y*
- 9.25%
ERND.L vs. EIMI.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% | 1.48% |
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 18.64% | 32.16% | 7.36% | 11.03% | -19.67% | -0.65% | 18.80% | 16.37% | -14.18% | 36.94% |
Correlation
The correlation between ERND.L and EIMI.L is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 30, 2014 | 0.06 |
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Return for Risk
ERND.L vs. EIMI.L — Risk / Return Rank
ERND.L
EIMI.L
ERND.L vs. EIMI.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 Core MSCI EM IMI UCITS ETF (EIMI.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 | EIMI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.58 | ||
| Sortino ratioReturn per unit of downside risk | +6.73 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.30 | +1.02 |
| Calmar ratioReturn relative to maximum drawdown | 20.61 | 2.72 | +17.89 |
| Martin ratioReturn relative to average drawdown | 101.10 | 8.68 | +92.42 |
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Drawdowns
ERND.L vs. EIMI.L - Drawdown Comparison
The maximum ERND.L drawdown since its inception was -7.48%, smaller than the maximum EIMI.L drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for ERND.L and EIMI.L.
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Drawdown Indicators
| ERND.L | EIMI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.48% | -38.73% | +31.25% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -12.66% | +12.46% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -17.44% | +16.80% |
Max Drawdown (5Y)Largest decline over 5 years | -1.06% | -33.69% | +32.63% |
Max Drawdown (10Y)Largest decline over 10 years | -7.48% | -38.73% | +31.25% |
Current DrawdownCurrent decline from peak | -0.02% | -7.71% | +7.69% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -13.92% | +13.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 3.98% | -3.94% |
Volatility
ERND.L vs. EIMI.L - Volatility Comparison
The current volatility for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) is 0.21%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.59%. This indicates that ERND.L experiences smaller price fluctuations and is considered to be less risky than EIMI.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 | EIMI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 8.59% | -8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 19.48% | -18.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 21.43% | -20.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.26% | 18.83% | -17.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.08% | 19.22% | -17.14% |
ERND.L vs. EIMI.L - Expense Ratio Comparison
ERND.L has a 0.09% expense ratio, which is lower than EIMI.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
ERND.L vs. EIMI.L - Dividend Comparison
ERND.L's dividend yield for the trailing twelve months is around 4.31%, while EIMI.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 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 EIMI.L have a correlation of 0.09, 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 0.18% for EIMI.L.
ERND.L is categorized as Ultrashort Bond, while EIMI.L is Emerging Markets Equities. ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD), while EIMI.L tracks MSCI Emerging Markets Investable Market Index. Their fees differ too: 0.09% for ERND.L and 0.18% for EIMI.L.
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