ERNU.L vs. USCR.L
ERNU.L (iShares USD Ultrashort Bond UCITS ETF) and USCR.L (SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF) are both Corporate Bonds funds - ERNU.L tracks the Bloomberg US Corp 1-3 Yr TR USD while USCR.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, ERNU.L returned 4.86%/yr vs 1.46%/yr for USCR.L. At a 0.48 correlation, their price movements are largely independent. ERNU.L charges 0.09%/yr vs 0.15%/yr for USCR.L.
Performance
ERNU.L vs. USCR.L - Performance Comparison
Loading charts...
Different Trading Currencies
ERNU.L is traded in GBP, while USCR.L is traded in USD. To make them comparable, the USCR.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNU.L achieves a 1.86% return, which is significantly higher than USCR.L's 0.59% return.
ERNU.L
- 1D
- 0.09%
- 1M
- 1.33%
- YTD
- 1.86%
- 6M
- 1.30%
- 1Y
- 5.39%
- 3Y*
- 2.46%
- 5Y*
- 4.86%
- 10Y*
- 3.51%
USCR.L
- 1D
- 0.26%
- 1M
- 1.38%
- YTD
- 0.59%
- 6M
- 0.06%
- 1Y
- 6.68%
- 3Y*
- 2.38%
- 5Y*
- 1.46%
- 10Y*
- —
ERNU.L vs. USCR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.86% | -2.45% | 7.39% | -0.34% | 13.45% | 1.52% | -4.18% |
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF | 0.59% | 0.02% | 3.98% | 2.62% | -5.66% | -0.70% | -2.36% |
Correlation
The correlation between ERNU.L and USCR.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ERNU.L vs. USCR.L — Risk / Return Rank
ERNU.L
USCR.L
ERNU.L vs. USCR.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 SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.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.
| ERNU.L | USCR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.17 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.27 | -0.05 |
| Martin ratioReturn relative to average drawdown | 3.09 | 3.20 | -0.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ERNU.L | USCR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.96 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.15 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | -0.03 | +0.45 |
Drawdowns
ERNU.L vs. USCR.L - Drawdown Comparison
The maximum ERNU.L drawdown since its inception was -14.92%, which is greater than USCR.L's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for ERNU.L and USCR.L.
Loading charts...
Drawdown Indicators
| ERNU.L | USCR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.92% | -14.00% | -0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.43% | -5.25% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -9.54% | -9.24% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -14.92% | -13.77% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -14.92% | — | — |
Current DrawdownCurrent decline from peak | -4.01% | -2.85% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -5.80% | -6.72% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 2.08% | -0.34% |
Volatility
ERNU.L vs. USCR.L - Volatility Comparison
iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) have volatilities of 2.03% and 1.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERNU.L | USCR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 1.98% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.72% | 5.59% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.46% | 6.92% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.36% | 9.47% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 9.39% | -0.05% |
ERNU.L vs. USCR.L - Expense Ratio Comparison
ERNU.L has a 0.09% expense ratio, which is lower than USCR.L's 0.15% 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
ERNU.L vs. USCR.L - Dividend Comparison
ERNU.L's dividend yield for the trailing twelve months is around 5.69%, while USCR.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 | 5.69% | 4.68% | 5.45% | 5.00% | 1.55% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF | 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 USCR.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNU.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNU.L is cheaper with a 0.09% expense ratio, compared with 0.15% for USCR.L.
ERNU.L tracks Bloomberg US Corp 1-3 Yr TR USD, while USCR.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for ERNU.L and 0.15% for USCR.L.
Find the right allocation for ERNU.L and USCR.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer