ERNE.L vs. XT01.L
ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) and XT01.L (Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C) are both exchange-traded funds - ERNE.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR), while XT01.L is a Government Bonds fund tracking the FTSE US Treasury Short Duration Index. Both are passively managed. Over the past 5 years, ERNE.L returned 2.16%/yr vs 4.26%/yr for XT01.L. At a correlation of -0.01, they often move in opposite directions. ERNE.L charges 0.09%/yr vs 0.06%/yr for XT01.L.
Performance
ERNE.L vs. XT01.L - Performance Comparison
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Different Trading Currencies
ERNE.L is traded in EUR, while XT01.L is traded in GBP. To make them comparable, the XT01.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 XT01.L's 5.15% 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%
XT01.L
- 1D
- 0.56%
- 1M
- 2.40%
- 6M
- 4.24%
- YTD
- 5.15%
- 1Y
- 6.08%
- 3Y*
- 4.25%
- 5Y*
- 4.26%
- 10Y*
- —
ERNE.L vs. XT01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 1.18% | 2.59% | 4.15% | 3.38% | -0.24% | -0.36% | 0.05% |
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C | 5.15% | -7.86% | 12.07% | 1.36% | 7.07% | 7.96% | -1.58% |
Correlation
The correlation between ERNE.L and XT01.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2020 | -0.01 |
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Return for Risk
ERNE.L vs. XT01.L — Risk / Return Rank
ERNE.L
XT01.L
ERNE.L vs. XT01.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 Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.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 | XT01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +4.98 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.17 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 12.25 | 1.87 | +10.38 |
| Martin ratioReturn relative to average drawdown | 68.00 | 4.27 | +63.73 |
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Drawdowns
ERNE.L vs. XT01.L - Drawdown Comparison
The maximum ERNE.L drawdown since its inception was -3.05%, smaller than the maximum XT01.L drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for ERNE.L and XT01.L.
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Drawdown Indicators
| ERNE.L | XT01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.05% | -11.78% | +8.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -3.24% | +3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -11.61% | +11.28% |
Max Drawdown (5Y)Largest decline over 5 years | -1.12% | -11.78% | +10.66% |
Max Drawdown (10Y)Largest decline over 10 years | -3.05% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.78% | +4.78% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -4.98% | +4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 1.42% | -1.39% |
Volatility
ERNE.L vs. XT01.L - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) is 0.20%, while Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) has a volatility of 1.47%. This indicates that ERNE.L experiences smaller price fluctuations and is considered to be less risky than XT01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNE.L | XT01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 1.47% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 4.48% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.58% | 6.24% | -5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.60% | 7.87% | -7.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.75% | 7.78% | -7.03% |
ERNE.L vs. XT01.L - Expense Ratio Comparison
ERNE.L has a 0.09% expense ratio, which is higher than XT01.L's 0.06% 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
ERNE.L vs. XT01.L - Dividend Comparison
ERNE.L's dividend yield for the trailing twelve months is around 2.33%, while XT01.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% |
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C | 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 XT01.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XT01.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XT01.L is cheaper with a 0.06% expense ratio, compared with 0.09% for ERNE.L.
ERNE.L is categorized as Ultrashort Bond, while XT01.L is Government Bonds. ERNE.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR), while XT01.L tracks FTSE US Treasury Short Duration Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.09% for ERNE.L and 0.06% for XT01.L.
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