ERNS.L vs. ITPS.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and ITPS.L (iShares $ TIPS UCITS ETF USD (Acc)) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while ITPS.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD. ERNS.L is actively managed, while ITPS.L is passively managed. Over the past 10 years, ERNS.L returned 2.20%/yr vs 3.38%/yr for ITPS.L. At a 0.03 correlation, their price movements are largely independent. ERNS.L charges 0.09%/yr vs 0.12%/yr for ITPS.L.
Performance
ERNS.L vs. ITPS.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 higher than ITPS.L's 1.40% return. Over the past 10 years, ERNS.L has underperformed ITPS.L with an annualized return of 2.20%, while ITPS.L has yielded a comparatively higher 3.38% 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%
ITPS.L
- 1D
- 0.07%
- 1M
- 1.12%
- YTD
- 1.40%
- 6M
- 0.50%
- 1Y
- 5.89%
- 3Y*
- 1.16%
- 5Y*
- 2.04%
- 10Y*
- 3.38%
ERNS.L vs. ITPS.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% |
ITPS.L iShares $ TIPS UCITS ETF USD (Acc) | 1.40% | -0.29% | 3.57% | -2.08% | -2.35% | 7.75% | 7.12% | 5.33% | 4.25% | -6.03% |
Correlation
The correlation between ERNS.L and ITPS.L is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.03 |
The correlation between ERNS.L and ITPS.L shifts across timeframes, from -0.09 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERNS.L vs. ITPS.L — Risk / Return Rank
ERNS.L
ITPS.L
ERNS.L vs. ITPS.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 $ TIPS UCITS ETF USD (Acc) (ITPS.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 | ITPS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.39 | ||
| Sortino ratioReturn per unit of downside risk | +8.16 | ||
| Omega ratioGain probability vs. loss probability | 2.39 | 1.16 | +1.24 |
| Calmar ratioReturn relative to maximum drawdown | 20.38 | 1.09 | +19.29 |
| Martin ratioReturn relative to average drawdown | 108.76 | 2.78 | +105.98 |
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 | ITPS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.30 | 0.91 | +4.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.34 | 0.23 | +4.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.38 | 0.33 | +2.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.23 | 0.28 | +1.95 |
Drawdowns
ERNS.L vs. ITPS.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum ITPS.L drawdown of -37.27%. Use the drawdown chart below to compare losses from any high point for ERNS.L and ITPS.L.
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Drawdown Indicators
| ERNS.L | ITPS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -37.27% | +35.76% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -5.26% | +5.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -7.85% | +7.63% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -15.72% | +15.36% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | -15.72% | +14.21% |
Current DrawdownCurrent decline from peak | 0.00% | -7.94% | +7.94% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -10.69% | +10.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 2.06% | -2.02% |
Volatility
ERNS.L vs. ITPS.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.36%, while iShares $ TIPS UCITS ETF USD (Acc) (ITPS.L) has a volatility of 1.70%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than ITPS.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 | ITPS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 1.70% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.68% | 4.63% | -3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 6.30% | -5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 8.76% | -7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 10.34% | -9.42% |
ERNS.L vs. ITPS.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is lower than ITPS.L's 0.12% 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. ITPS.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 5.65%, while ITPS.L has not paid dividends to shareholders.
| 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% |
ITPS.L iShares $ TIPS 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% |
Frequently Asked Questions
ERNS.L and ITPS.L have a correlation of -0.09, 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 0.12% for ITPS.L.
ERNS.L is categorized as Ultrashort Bond, while ITPS.L is Inflation-Protected Bonds. Their fees differ too: 0.09% for ERNS.L and 0.12% for ITPS.L.
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