ERNE.L vs. JGSA.L
ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) and JGSA.L (JPM GBP Ultra-Short Income Active ETF GBP Acc) are both Ultrashort Bond funds. ERNE.L is passively managed, while JGSA.L is actively managed. Over the past 5 years, ERNE.L returned 2.16%/yr vs 3.73%/yr for JGSA.L. At a 0.06 correlation, their price movements are largely independent. ERNE.L charges 0.09%/yr vs 0.18%/yr for JGSA.L.
Performance
ERNE.L vs. JGSA.L - Performance Comparison
Loading charts...
Different Trading Currencies
ERNE.L is traded in EUR, while JGSA.L is traded in GBP. To make them comparable, the JGSA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNE.L achieves a 1.18% return, which is significantly lower than JGSA.L's 4.88% return.
ERNE.L
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.10%
- YTD
- 1.18%
- 1Y
- 2.20%
- 3Y*
- 3.28%
- 5Y*
- 2.16%
- 10Y*
- 1.04%
JGSA.L
- 1D
- 0.67%
- 1M
- 2.18%
- 6M
- 3.99%
- YTD
- 4.88%
- 1Y
- 6.43%
- 3Y*
- 5.40%
- 5Y*
- 3.73%
- 10Y*
- —
ERNE.L vs. JGSA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 1.18% | 2.59% | 4.15% | 3.38% | -0.24% | -0.36% | 0.07% | -0.01% |
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | 4.88% | -0.43% | 10.16% | 7.24% | -4.61% | 6.50% | -4.38% | 1.82% |
Correlation
The correlation between ERNE.L and JGSA.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 | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.06 |
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
ERNE.L vs. JGSA.L — Risk / Return Rank
ERNE.L
JGSA.L
ERNE.L vs. JGSA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) and JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.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.
| ERNE.L | JGSA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +4.01 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.31 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 12.25 | 4.39 | +7.85 |
| Martin ratioReturn relative to average drawdown | 68.00 | 11.12 | +56.88 |
Loading charts...
Drawdowns
ERNE.L vs. JGSA.L - Drawdown Comparison
The maximum ERNE.L drawdown since its inception was -3.05%, smaller than the maximum JGSA.L drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for ERNE.L and JGSA.L.
Loading charts...
Drawdown Indicators
| ERNE.L | JGSA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.05% | -12.27% | +9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -1.46% | +1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -4.48% | +4.15% |
Max Drawdown (5Y)Largest decline over 5 years | -1.12% | -8.07% | +6.95% |
Max Drawdown (10Y)Largest decline over 10 years | -3.05% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -2.62% | +2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.58% | -0.55% |
Volatility
ERNE.L vs. JGSA.L - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) is 0.20%, while JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) has a volatility of 1.11%. This indicates that ERNE.L experiences smaller price fluctuations and is considered to be less risky than JGSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERNE.L | JGSA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 1.11% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 2.61% | -2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.58% | 3.94% | -3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.60% | 5.43% | -4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.75% | 6.32% | -5.57% |
ERNE.L vs. JGSA.L - Expense Ratio Comparison
ERNE.L has a 0.09% expense ratio, which is lower than JGSA.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
ERNE.L vs. JGSA.L - Dividend Comparison
ERNE.L's dividend yield for the trailing twelve months is around 2.33%, while JGSA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ERNE.L and JGSA.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.
On fees, ERNE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNE.L is cheaper with a 0.09% expense ratio, compared with 0.18% for JGSA.L.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for ERNE.L and 0.18% for JGSA.L.
Find the right allocation for ERNE.L and JGSA.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