ERNS.L vs. BBM3.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index. ERNS.L is actively managed, while BBM3.L is passively managed. Over the past 5 years, ERNS.L returned 3.62%/yr vs 4.56%/yr for BBM3.L. At a correlation of -0.06, they often move in opposite directions. ERNS.L charges 0.09%/yr vs 0.07%/yr for BBM3.L.
Performance
ERNS.L vs. BBM3.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ERNS.L having a 1.58% return and BBM3.L slightly higher at 1.63%.
ERNS.L
- 1D
- 0.06%
- 1M
- 0.45%
- YTD
- 1.58%
- 6M
- 1.96%
- 1Y
- 4.41%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
BBM3.L
- 1D
- 0.09%
- 1M
- 1.55%
- YTD
- 1.63%
- 6M
- 0.98%
- 1Y
- 5.13%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
ERNS.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.02% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
Correlation
The correlation between ERNS.L and BBM3.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 | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.06 |
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Return for Risk
ERNS.L vs. BBM3.L — Risk / Return Rank
ERNS.L
BBM3.L
ERNS.L vs. BBM3.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 JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.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.
| ERNS.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.54 | ||
| Sortino ratioReturn per unit of downside risk | +8.35 | ||
| Omega ratioGain probability vs. loss probability | 2.39 | 1.13 | +1.26 |
| Calmar ratioReturn relative to maximum drawdown | 20.38 | 1.09 | +19.29 |
| Martin ratioReturn relative to average drawdown | 108.76 | 2.71 | +106.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ERNS.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.30 | 0.76 | +4.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.34 | 0.54 | +3.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.23 | 0.50 | +1.73 |
Drawdowns
ERNS.L vs. BBM3.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum BBM3.L drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for ERNS.L and BBM3.L.
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Drawdown Indicators
| ERNS.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -15.27% | +13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -4.52% | +4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -9.77% | +9.55% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -15.27% | +14.91% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.65% | +5.65% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -6.31% | +6.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 1.81% | -1.77% |
Volatility
ERNS.L vs. BBM3.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.36%, while JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a volatility of 1.89%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than BBM3.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 | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 1.89% | -1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 0.68% | 4.68% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 6.47% | -5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 8.43% | -7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 8.38% | -7.46% |
ERNS.L vs. BBM3.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is higher than BBM3.L's 0.07% 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
ERNS.L vs. BBM3.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 5.65%, while BBM3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (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% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 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 BBM3.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, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERNS.L.
ERNS.L is categorized as Ultrashort Bond, while BBM3.L is Government Bonds. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for ERNS.L and 0.07% for BBM3.L.
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