ERNU.L vs. XT01.DE

Last updated Apr 2, 2026

Compare and contrast key facts about iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.DE).

ERNU.L and XT01.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERNU.L is a passively managed fund by iShares that tracks the performance of the Bloomberg US Corp 1-3 Yr TR USD. It was launched on Oct 15, 2013. XT01.DE is a passively managed fund by Xtrackers that tracks the performance of the Bloomberg US Government TR USD. It was launched on Sep 3, 2020. Both ERNU.L and XT01.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ERNU.L vs. XT01.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.DE). The values are adjusted to include any dividend payments, if applicable.

ERNU.L vs. XT01.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ERNU.L iShares USD Ultrashort Bond UCITS ETF	1.91%	-2.45%	7.39%	-0.34%	13.45%	1.52%	-4.62%
XT01.DE Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C	2.50%	-2.48%	6.39%	-0.58%	12.98%	0.78%	-4.37%

Different Trading Currencies

ERNU.L is traded in GBP, while XT01.DE is traded in EUR. To make them comparable, the XT01.DE 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 1.91% return, which is significantly lower than XT01.DE's 2.50% return.

ERNU.L

• 1D: -0.81%
• 1M: 0.56%
• YTD: 1.91%
• 6M: 3.07%
• 1Y: 1.21%
• 3Y*: 2.65%
• 5Y*: 4.39%
• 10Y*: 3.33%

XT01.DE

• 1D: -0.53%
• 1M: 1.28%
• YTD: 2.50%
• 6M: 3.47%
• 1Y: 1.46%
• 3Y*: 2.29%
• 5Y*: 4.09%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ERNU.L vs. XT01.DE - Expense Ratio Comparison

ERNU.L has a 0.09% expense ratio, which is higher than XT01.DE'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%.

ERNU.L

iShares USD Ultrashort Bond UCITS ETF

XT01.DE

Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C

Return for Risk

ERNU.L vs. XT01.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ERNU.L

ERNU.L Risk / Return Rank: 15
ERNU.L Sharpe Ratio Rank: 16
ERNU.L Sortino Ratio Rank: 14
ERNU.L Omega Ratio Rank: 13
ERNU.L Calmar Ratio Rank: 16
ERNU.L Martin Ratio Rank: 15

XT01.DE

XT01.DE Risk / Return Rank: 5
XT01.DE Sharpe Ratio Rank: 5
XT01.DE Sortino Ratio Rank: 4
XT01.DE Omega Ratio Rank: 4
XT01.DE Calmar Ratio Rank: 6
XT01.DE Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ERNU.L vs. XT01.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.DE). 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	XT01.DE	Difference
Sharpe ratio Return per unit of total volatility	0.18	0.20	-0.02
Sortino ratio Return per unit of downside risk	0.30	0.34	-0.04
Omega ratio Gain probability vs. loss probability	1.03	1.04	-0.01
Calmar ratio Return relative to maximum drawdown	0.25	0.30	-0.06
Martin ratio Return relative to average drawdown	0.47	0.56	-0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERNU.L vs. XT01.DE - Sharpe Ratio Comparison

The current ERNU.L Sharpe Ratio is 0.18, which is comparable to the XT01.DE Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of ERNU.L and XT01.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ERNU.L	XT01.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.18	0.20	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.48	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.30	+0.12

Correlation

The correlation between ERNU.L and XT01.DE is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ERNU.L vs. XT01.DE - Dividend Comparison

ERNU.L's dividend yield for the trailing twelve months is around 5.69%, while XT01.DE has not paid dividends to shareholders.

	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%
XT01.DE Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ERNU.L vs. XT01.DE - Drawdown Comparison

The maximum ERNU.L drawdown since its inception was -14.92%, roughly equal to the maximum XT01.DE drawdown of -15.63%. Use the drawdown chart below to compare losses from any high point for ERNU.L and XT01.DE.

Drawdown Indicators

	ERNU.L	XT01.DE	Difference
Max Drawdown Largest peak-to-trough decline	-14.92%	-11.68%	-3.24%
Max Drawdown (1Y) Largest decline over 1 year	-6.01%	-7.01%	+1.00%
Max Drawdown (5Y) Largest decline over 5 years	-14.92%	-11.68%	-3.24%
Max Drawdown (10Y) Largest decline over 10 years	-14.92%	—	—
Current Drawdown Current decline from peak	-3.97%	-7.56%	+3.59%
Average Drawdown Average peak-to-trough decline	-5.82%	-4.80%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	4.28%	-1.10%

Volatility

ERNU.L vs. XT01.DE - Volatility Comparison

iShares USD Ultrashort Bond UCITS ETF (ERNU.L) and Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.DE) have volatilities of 2.08% and 2.09%, 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.

Volatility by Period

	ERNU.L	XT01.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	2.09%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	4.35%	4.43%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	6.74%	7.14%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.34%	8.44%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.36%	8.40%	+0.96%