ERNS.L vs. ERNU.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while ERNU.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD. ERNS.L is actively managed, while ERNU.L is passively managed. Over the past 10 years, ERNS.L returned 2.20%/yr vs 3.51%/yr for ERNU.L. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
ERNS.L vs. ERNU.L - Performance Comparison
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Returns By Period
In the year-to-date period, ERNS.L achieves a 1.58% return, which is significantly lower than ERNU.L's 1.86% return. Over the past 10 years, ERNS.L has underperformed ERNU.L with an annualized return of 2.20%, while ERNU.L has yielded a comparatively higher 3.51% annualized return.
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%
ERNU.L
- 1D
- 0.09%
- 1M
- 1.67%
- YTD
- 1.86%
- 6M
- 1.08%
- 1Y
- 5.55%
- 3Y*
- 2.46%
- 5Y*
- 4.86%
- 10Y*
- 3.51%
ERNS.L vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 1.27% | 0.58% | 0.57% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.86% | -2.45% | 7.39% | -0.34% | 13.45% | 1.52% | -2.17% | -0.16% | 7.99% | -7.61% |
Correlation
The correlation between ERNS.L and ERNU.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2013 | 0.01 |
The correlation between ERNS.L and ERNU.L shifts across timeframes, from -0.10 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERNS.L vs. ERNU.L — Risk / Return Rank
ERNS.L
ERNU.L
ERNS.L vs. ERNU.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 iShares USD Ultrashort Bond UCITS ETF (ERNU.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 | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.47 | ||
| Sortino ratioReturn per unit of downside risk | +8.24 | ||
| Omega ratioGain probability vs. loss probability | 2.39 | 1.15 | +1.25 |
| Calmar ratioReturn relative to maximum drawdown | 20.38 | 1.21 | +19.17 |
| Martin ratioReturn relative to average drawdown | 108.76 | 3.09 | +105.67 |
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 | ERNU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.30 | 0.83 | +4.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.34 | 0.58 | +3.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.38 | 0.38 | +2.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.23 | 0.42 | +1.81 |
Drawdowns
ERNS.L vs. ERNU.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum ERNU.L drawdown of -14.92%. Use the drawdown chart below to compare losses from any high point for ERNS.L and ERNU.L.
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Drawdown Indicators
| ERNS.L | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -14.92% | +13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -4.43% | +4.21% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -9.54% | +9.32% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -14.92% | +14.56% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | -14.92% | +13.41% |
Current DrawdownCurrent decline from peak | 0.00% | -4.01% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -5.80% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 1.74% | -1.70% |
Volatility
ERNS.L vs. ERNU.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.36%, while iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a volatility of 2.03%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than ERNU.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 | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 2.03% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 0.68% | 4.72% | -4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 6.46% | -5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 8.36% | -7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 9.34% | -8.42% |
ERNS.L vs. ERNU.L - Expense Ratio Comparison
Both ERNS.L and ERNU.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ERNS.L vs. ERNU.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 5.65%, which matches ERNU.L's 5.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 5.69% | 4.68% | 5.45% | 5.00% | 1.55% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
Frequently Asked Questions
ERNS.L and ERNU.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.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L and ERNU.L have the same expense ratio: 0.09% per year.
ERNS.L is categorized as Ultrashort Bond, while ERNU.L is Corporate Bonds.
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