ERNS.L vs. IGLS.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. ERNS.L is actively managed, while IGLS.L is passively managed. Over the past 10 years, ERNS.L returned 2.21%/yr vs 0.91%/yr for IGLS.L. At a 0.11 correlation, their price movements are largely independent. ERNS.L charges 0.09%/yr vs 0.07%/yr for IGLS.L.
Performance
ERNS.L vs. IGLS.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 higher than IGLS.L's 0.53% return. Over the past 10 years, ERNS.L has outperformed IGLS.L with an annualized return of 2.21%, while IGLS.L has yielded a comparatively lower 0.91% 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%
IGLS.L
- 1D
- 0.21%
- 1M
- 0.68%
- YTD
- 0.53%
- 6M
- 1.02%
- 1Y
- 3.13%
- 3Y*
- 4.62%
- 5Y*
- 1.36%
- 10Y*
- 0.91%
ERNS.L vs. IGLS.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% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.53% | 5.26% | 2.65% | 4.19% | -4.44% | -1.68% | 1.48% | 1.05% | 0.14% | -0.38% |
Correlation
The correlation between ERNS.L and IGLS.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.11 |
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Return for Risk
ERNS.L vs. IGLS.L — Risk / Return Rank
ERNS.L
IGLS.L
ERNS.L vs. IGLS.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 UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.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 | IGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.89 | ||
| Sortino ratioReturn per unit of downside risk | +7.81 | ||
| Omega ratioGain probability vs. loss probability | 2.41 | 1.29 | +1.12 |
| Calmar ratioReturn relative to maximum drawdown | 19.80 | 1.52 | +18.28 |
| Martin ratioReturn relative to average drawdown | 111.29 | 5.12 | +106.17 |
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Drawdowns
ERNS.L vs. IGLS.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum IGLS.L drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for ERNS.L and IGLS.L.
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Drawdown Indicators
| ERNS.L | IGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -9.54% | +8.03% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -1.95% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -1.95% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -8.85% | +8.49% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | -9.54% | +8.03% |
Current DrawdownCurrent decline from peak | 0.00% | -0.38% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -1.19% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.58% | -0.54% |
Volatility
ERNS.L vs. IGLS.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.26%, while iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) has a volatility of 0.66%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than IGLS.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 | IGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 0.66% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | 1.76% | -1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 1.99% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 2.67% | -1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 2.18% | -1.26% |
ERNS.L vs. IGLS.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is higher than IGLS.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. IGLS.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 3.24%, less than IGLS.L's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.97% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
ERNS.L and IGLS.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERNS.L.
ERNS.L is categorized as Ultrashort Bond, while IGLS.L is European Government Bonds. Their fees differ too: 0.09% for ERNS.L and 0.07% for IGLS.L.
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