ERNS.L vs. FLO5.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and FLO5.L (iShares USD Floating Rate Bond UCITS ETF) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while FLO5.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. ERNS.L is actively managed, while FLO5.L is passively managed. Over the past 5 years, ERNS.L returned 3.62%/yr vs 1.22%/yr for FLO5.L. At a correlation of -0.01, they often move in opposite directions. ERNS.L charges 0.09%/yr vs 0.10%/yr for FLO5.L.
Performance
ERNS.L vs. FLO5.L - Performance Comparison
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Different Trading Currencies
ERNS.L is traded in GBP, while FLO5.L is traded in GBp. To make them comparable, the FLO5.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNS.L achieves a 1.58% return, which is significantly higher than FLO5.L's -0.05% 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%
FLO5.L
- 1D
- 0.03%
- 1M
- -0.74%
- YTD
- -0.05%
- 6M
- -0.55%
- 1Y
- 1.25%
- 3Y*
- -2.38%
- 5Y*
- 1.22%
- 10Y*
- —
ERNS.L vs. FLO5.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% | 0.14% |
FLO5.L iShares USD Floating Rate Bond UCITS ETF | -0.05% | -6.83% | 1.88% | -4.56% | 11.92% | 1.15% | -4.18% | -2.07% | 4.95% | 0.57% |
Correlation
The correlation between ERNS.L and FLO5.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| 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 | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2017 | -0.01 |
The correlation between ERNS.L and FLO5.L shifts across timeframes, from -0.12 (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. FLO5.L — Risk / Return Rank
ERNS.L
FLO5.L
ERNS.L vs. FLO5.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 Floating Rate Bond UCITS ETF (FLO5.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 | FLO5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.13 | ||
| Sortino ratioReturn per unit of downside risk | +9.21 | ||
| Omega ratioGain probability vs. loss probability | 2.39 | 1.04 | +1.36 |
| Calmar ratioReturn relative to maximum drawdown | 20.38 | 0.19 | +20.19 |
| Martin ratioReturn relative to average drawdown | 108.76 | 0.38 | +108.38 |
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 | FLO5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.30 | 0.17 | +5.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.34 | 0.13 | +4.21 |
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 | 0.02 | +2.21 |
Drawdowns
ERNS.L vs. FLO5.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum FLO5.L drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for ERNS.L and FLO5.L.
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Drawdown Indicators
| ERNS.L | FLO5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -20.77% | +19.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -6.65% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -13.32% | +13.10% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -20.77% | +20.41% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -19.14% | +19.14% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -9.77% | +9.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 3.30% | -3.26% |
Volatility
ERNS.L vs. FLO5.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.36%, while iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a volatility of 2.80%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than FLO5.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 | FLO5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 2.80% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 0.68% | 5.01% | -4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 7.27% | -6.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 9.03% | -8.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 9.16% | -8.24% |
ERNS.L vs. FLO5.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is lower than FLO5.L's 0.10% 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
ERNS.L vs. FLO5.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 5.65%, more than FLO5.L's 0.05% 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% |
FLO5.L iShares USD Floating Rate Bond UCITS ETF | 0.05% | 0.05% | 0.06% | 0.06% | 0.01% | 0.01% | 0.02% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ERNS.L and FLO5.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, 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 0.10% for FLO5.L.
ERNS.L is categorized as Ultrashort Bond, while FLO5.L is Corporate Bonds. Their fees differ too: 0.09% for ERNS.L and 0.10% for FLO5.L.
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