ERND.L vs. SHYU.L
ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and SHYU.L (iShares $ High Yield Corp Bond 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 SHYU.L is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 10 years, ERND.L returned 2.77%/yr vs 4.79%/yr for SHYU.L. At a 0.02 correlation, their price movements are largely independent. ERND.L charges 0.09%/yr vs 0.50%/yr for SHYU.L.
Performance
ERND.L vs. SHYU.L - Performance Comparison
Loading charts...
Different Trading Currencies
ERND.L is traded in USD, while SHYU.L is traded in GBP. To make them comparable, the SHYU.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 2.05% return, which is significantly higher than SHYU.L's 1.72% return. Over the past 10 years, ERND.L has underperformed SHYU.L with an annualized return of 2.77%, while SHYU.L has yielded a comparatively higher 4.79% annualized return.
ERND.L
- 1D
- 0.05%
- 1M
- 0.27%
- 6M
- 1.87%
- YTD
- 2.05%
- 1Y
- 4.24%
- 3Y*
- 5.09%
- 5Y*
- 3.84%
- 10Y*
- 2.77%
SHYU.L
- 1D
- -0.09%
- 1M
- 1.16%
- 6M
- 1.42%
- YTD
- 1.72%
- 1Y
- 5.98%
- 3Y*
- 7.93%
- 5Y*
- 3.93%
- 10Y*
- 4.79%
ERND.L vs. SHYU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.05% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 1.21% | 3.03% | 2.11% | 1.48% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 1.72% | 9.63% | 6.74% | 10.25% | -8.87% | 4.01% | 4.71% | 13.50% | -1.52% | 5.25% |
Correlation
The correlation between ERND.L and SHYU.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013 | 0.02 |
The correlation between ERND.L and SHYU.L shifts across timeframes, from -0.05 (1 year) to 0.07 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ERND.L vs. SHYU.L — Risk / Return Rank
ERND.L
SHYU.L
ERND.L vs. SHYU.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 $ High Yield Corp Bond UCITS ETF (SHYU.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 | SHYU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.13 | ||
| Sortino ratioReturn per unit of downside risk | +7.41 | ||
| Omega ratioGain probability vs. loss probability | 2.37 | 1.21 | +1.16 |
| Calmar ratioReturn relative to maximum drawdown | 21.13 | 2.00 | +19.13 |
| Martin ratioReturn relative to average drawdown | 103.65 | 9.31 | +94.34 |
Loading charts...
Drawdowns
ERND.L vs. SHYU.L - Drawdown Comparison
The maximum ERND.L drawdown since its inception was -7.48%, smaller than the maximum SHYU.L drawdown of -39.31%. Use the drawdown chart below to compare losses from any high point for ERND.L and SHYU.L.
Loading charts...
Drawdown Indicators
| ERND.L | SHYU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.48% | -39.31% | +31.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -2.98% | +2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -4.36% | +3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -1.06% | -14.17% | +13.11% |
Max Drawdown (10Y)Largest decline over 10 years | -7.48% | -21.62% | +14.14% |
Current DrawdownCurrent decline from peak | 0.00% | -0.39% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -8.92% | +8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.64% | -0.60% |
Volatility
ERND.L vs. SHYU.L - Volatility Comparison
The current volatility for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) is 0.21%, while iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) has a volatility of 1.12%. This indicates that ERND.L experiences smaller price fluctuations and is considered to be less risky than SHYU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERND.L | SHYU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 1.12% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 3.94% | -3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 4.98% | -4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.26% | 7.47% | -6.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.08% | 8.31% | -6.23% |
ERND.L vs. SHYU.L - Expense Ratio Comparison
ERND.L has a 0.09% expense ratio, which is lower than SHYU.L's 0.50% expense ratio.
Dividends
ERND.L vs. SHYU.L - Dividend Comparison
ERND.L's dividend yield for the trailing twelve months is around 4.31%, less than SHYU.L's 6.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 6.27% | 6.25% | 6.32% | 5.76% | 4.82% | 4.27% | 5.16% | 5.58% | 5.52% | 5.74% | 5.16% | 5.87% |
Frequently Asked Questions
ERND.L and SHYU.L have a correlation of -0.05, 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 0.50% for SHYU.L.
ERND.L is categorized as Ultrashort Bond, while SHYU.L is Corporate Bonds. ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD), while SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. Their fees differ too: 0.09% for ERND.L and 0.50% for SHYU.L.
Find the right allocation for ERND.L and SHYU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer