ERNS.L vs. PABG.L
ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) and PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) are both exchange-traded funds - ERNS.L is a Ultrashort Bond fund actively managed by iShares, while PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR. ERNS.L is actively managed, while PABG.L is passively managed. Over the past 5 years, ERNS.L returned 3.64%/yr vs 10.08%/yr for PABG.L. At a 0.07 correlation, their price movements are largely independent. ERNS.L charges 0.09%/yr vs 0.20%/yr for PABG.L.
Performance
ERNS.L vs. PABG.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 lower than PABG.L's 7.45% 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%
PABG.L
- 1D
- 2.24%
- 1M
- 5.50%
- YTD
- 7.45%
- 6M
- 8.23%
- 1Y
- 19.73%
- 3Y*
- 16.47%
- 5Y*
- 10.08%
- 10Y*
- —
ERNS.L vs. PABG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.18% |
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc | 7.45% | 27.76% | 9.01% | 19.39% | -11.91% | 5.08% | 8.99% |
Correlation
The correlation between ERNS.L and PABG.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2020 | 0.07 |
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Return for Risk
ERNS.L vs. PABG.L — Risk / Return Rank
ERNS.L
PABG.L
ERNS.L vs. PABG.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 Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.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 | PABG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.26 | ||
| Sortino ratioReturn per unit of downside risk | +8.23 | ||
| Omega ratioGain probability vs. loss probability | 2.41 | 1.21 | +1.20 |
| Calmar ratioReturn relative to maximum drawdown | 19.80 | 1.49 | +18.31 |
| Martin ratioReturn relative to average drawdown | 111.29 | 5.14 | +106.15 |
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Drawdowns
ERNS.L vs. PABG.L - Drawdown Comparison
The maximum ERNS.L drawdown since its inception was -1.51%, smaller than the maximum PABG.L drawdown of -26.49%. Use the drawdown chart below to compare losses from any high point for ERNS.L and PABG.L.
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Drawdown Indicators
| ERNS.L | PABG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.51% | -26.49% | +24.98% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -11.77% | +11.55% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | -13.84% | +13.62% |
Max Drawdown (5Y)Largest decline over 5 years | -0.36% | -26.49% | +26.13% |
Max Drawdown (10Y)Largest decline over 10 years | -1.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -6.08% | +6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 3.42% | -3.38% |
Volatility
ERNS.L vs. PABG.L - Volatility Comparison
The current volatility for iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) is 0.26%, while Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) has a volatility of 4.25%. This indicates that ERNS.L experiences smaller price fluctuations and is considered to be less risky than PABG.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 | PABG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 4.25% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | 12.94% | -12.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 15.57% | -14.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 18.88% | -18.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.92% | 18.95% | -18.03% |
ERNS.L vs. PABG.L - Expense Ratio Comparison
ERNS.L has a 0.09% expense ratio, which is lower than PABG.L's 0.20% 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. PABG.L - Dividend Comparison
ERNS.L's dividend yield for the trailing twelve months is around 3.24%, while PABG.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) | 3.24% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - 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 PABG.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.
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 0.20% for PABG.L.
ERNS.L is categorized as Ultrashort Bond, while PABG.L is Europe Equities. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.09% for ERNS.L and 0.20% for PABG.L.
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