ERNU.L vs. JEBP.L
ERNU.L (iShares USD Ultrashort Bond UCITS ETF) and JEBP.L (JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)) are both Corporate Bonds funds. ERNU.L is passively managed, while JEBP.L is actively managed. Over the past 3 years, ERNU.L returned 4.12%/yr vs 6.06%/yr for JEBP.L. At a correlation of -0.24, they often move in opposite directions. ERNU.L charges 0.09%/yr vs 0.04%/yr for JEBP.L.
Performance
ERNU.L vs. JEBP.L - Performance Comparison
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Returns By Period
In the year-to-date period, ERNU.L achieves a 2.22% return, which is significantly higher than JEBP.L's 1.36% return.
ERNU.L
- 1D
- 0.27%
- 1M
- -0.01%
- 6M
- 1.44%
- YTD
- 2.22%
- 1Y
- 3.95%
- 3Y*
- 4.12%
- 5Y*
- 4.36%
- 10Y*
- 2.54%
JEBP.L
- 1D
- -0.03%
- 1M
- -0.37%
- 6M
- 0.94%
- YTD
- 1.36%
- 1Y
- 3.33%
- 3Y*
- 6.06%
- 5Y*
- —
- 10Y*
- —
ERNU.L vs. JEBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 2.22% | -2.44% | 7.39% | -0.34% | 13.44% | 0.50% |
JEBP.L JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) | 1.36% | 5.22% | 5.89% | 9.18% | -12.18% | -0.52% |
Correlation
The correlation between ERNU.L and JEBP.L is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | -0.24 |
The correlation between ERNU.L and JEBP.L shifts across timeframes, from -0.32 (1 year) to -0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERNU.L vs. JEBP.L — Risk / Return Rank
ERNU.L
JEBP.L
ERNU.L vs. JEBP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JEBP.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.
| ERNU.L | JEBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.24 | -0.35 |
| Martin ratioReturn relative to average drawdown | 2.25 | 4.79 | -2.54 |
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Drawdowns
ERNU.L vs. JEBP.L - Drawdown Comparison
The maximum ERNU.L drawdown since its inception was -41.55%, which is greater than JEBP.L's maximum drawdown of -15.49%. Use the drawdown chart below to compare losses from any high point for ERNU.L and JEBP.L.
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Drawdown Indicators
| ERNU.L | JEBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.55% | -15.49% | -26.06% |
Max Drawdown (1Y)Largest decline over 1 year | -4.43% | -2.68% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -9.54% | -2.68% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -14.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.92% | — | — |
Current DrawdownCurrent decline from peak | -3.68% | -0.81% | -2.87% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -4.90% | -13.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 0.69% | +1.06% |
Volatility
ERNU.L vs. JEBP.L - Volatility Comparison
iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a higher volatility of 1.27% compared to JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JEBP.L) at 0.76%. This indicates that ERNU.L's price experiences larger fluctuations and is considered to be riskier than JEBP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNU.L | JEBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 0.76% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.80% | 2.81% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.40% | 3.12% | +3.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.35% | 4.54% | +3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.73% | 4.54% | +4.19% |
ERNU.L vs. JEBP.L - Expense Ratio Comparison
ERNU.L has a 0.09% expense ratio, which is higher than JEBP.L's 0.04% 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
ERNU.L vs. JEBP.L - Dividend Comparison
ERNU.L's dividend yield for the trailing twelve months is around 4.33%, while JEBP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 4.33% | 4.68% | 5.46% | 4.99% | 1.56% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
JEBP.L JPM EUR IG Corporate Bond Active UCITS ETF GBP Hedged (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
ERNU.L and JEBP.L have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEBP.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEBP.L is cheaper with a 0.04% expense ratio, compared with 0.09% for ERNU.L.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for ERNU.L and 0.04% for JEBP.L.
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