ERNS.L vs. ACWI.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while ACWI.L is a Global Equities fund tracking the MSCI ACWI Index. ERNS.L is actively managed, while ACWI.L is passively managed. Over the past 10 years, ERNS.L returned 2.21%/yr vs -30.84%/yr for ACWI.L. At a 0.05 correlation, their price movements are largely independent. ERNS.L charges 0.09%/yr vs 0.40%/yr for ACWI.L.
Performance
ERNS.L vs. ACWI.L - Performance Comparison
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Returns By Period
In the year-to-date period, ERNS.L achieves a 1.67% return, which is significantly lower than ACWI.L's 10.58% return. Over the past 10 years, ERNS.L has outperformed ACWI.L with an annualized return of 2.21%, while ACWI.L has yielded a comparatively lower -30.84% annualized return.
ERNS.L
- 1D
- 0.03%
- 1M
- 0.34%
- YTD
- 1.67%
- 6M
- 1.95%
- 1Y
- 4.33%
- 3Y*
- 5.10%
- 5Y*
- 3.64%
- 10Y*
- 2.21%
ACWI.L
- 1D
- 1.75%
- 1M
- 0.47%
- YTD
- 10.58%
- 6M
- 11.29%
- 1Y
- 28.32%
- 3Y*
- 17.45%
- 5Y*
- -58.35%
- 10Y*
- -30.84%
ERNS.L vs. ACWI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.77% | 1.28% | 0.58% | 0.57% |
ACWI.L SPDR MSCI ACWI UCITS ETF | 10.58% | 14.32% | 19.66% | 15.59% | -8.59% | -99.12% | 15.70% | 26.48% | -9.57% | 23.83% |
Correlation
The correlation between ERNS.L and ACWI.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.05 |
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Return for Risk
ERNS.L vs. ACWI.L — Risk / Return Rank
ERNS.L
ACWI.L
ERNS.L vs. ACWI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.
| ERNS.L | ACWI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.83 | ||
| Sortino ratioReturn per unit of downside risk | +6.43 | ||
| Omega ratioGain probability vs. loss probability | 2.41 | 1.48 | +0.92 |
| Calmar ratioReturn relative to maximum drawdown | 19.80 | 3.89 | +15.91 |
| Martin ratioReturn relative to average drawdown | 111.29 | 15.37 | +95.92 |
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Drawdowns
ERNS.L vs. ACWI.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum ACWI.L drawdown of -99.37%. Use the drawdown chart below to compare losses from any high point for ERNS.L and ACWI.L.
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Drawdown Indicators
| ERNS.L | ACWI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -99.37% | +97.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -7.05% | +6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -20.07% | +19.85% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -99.37% | +99.01% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | -99.37% | +97.86% |
Current DrawdownCurrent decline from peak | 0.00% | -98.82% | +98.82% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -32.23% | +32.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 1.79% | -1.75% |
Volatility
ERNS.L vs. ACWI.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.26%, while SPDR MSCI ACWI UCITS ETF (ACWI.L) has a volatility of 3.61%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNS.L | ACWI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 3.61% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | 8.16% | -7.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 10.75% | -9.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 48.28% | -47.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 35.83% | -34.91% |
ERNS.L vs. ACWI.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is lower than ACWI.L's 0.40% expense ratio.
Dividends
ERNS.L vs. ACWI.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 3.24%, while ACWI.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI 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% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 3.24% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
Frequently Asked Questions
ERNS.L and ACWI.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L is cheaper with a 0.09% expense ratio, compared with 0.40% for ACWI.L.
ERNS.L is categorized as Ultrashort Bond, while ACWI.L is Global Equities. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for ERNS.L and 0.40% for ACWI.L.
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