ERNX.DE vs. EUED.DE
ERNX.DE (iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating) and EUED.DE (iShares € Ultrashort Bond ESG SRI UCITS ETF EUR (Dist)) are both Ultrashort Bond funds from iShares - ERNX.DE tracks the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index while EUED.DE tracks the iBoxx MSCI ESG SRI EUR Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 3 years, ERNX.DE returned 3.24%/yr vs 3.35%/yr for EUED.DE. At a 0.04 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
ERNX.DE vs. EUED.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ERNX.DE achieves a 1.08% return, which is significantly lower than EUED.DE's 1.35% return.
ERNX.DE
- 1D
- 0.00%
- 1M
- 0.36%
- 6M
- 1.08%
- YTD
- 1.08%
- 1Y
- 2.19%
- 3Y*
- 3.24%
- 5Y*
- —
- 10Y*
- —
EUED.DE
- 1D
- 0.20%
- 1M
- 0.37%
- 6M
- 1.15%
- YTD
- 1.35%
- 1Y
- 2.39%
- 3Y*
- 3.35%
- 5Y*
- 2.15%
- 10Y*
- —
ERNX.DE vs. EUED.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 1.08% | 2.79% | 4.06% | 3.19% | 0.20% |
EUED.DE iShares € Ultrashort Bond ESG SRI UCITS ETF EUR (Dist) | 1.35% | 2.56% | 4.11% | 3.40% | -0.00% |
Correlation
The correlation between ERNX.DE and EUED.DE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022 | 0.04 |
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Return for Risk
ERNX.DE vs. EUED.DE — Risk / Return Rank
ERNX.DE
EUED.DE
ERNX.DE vs. EUED.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) and iShares € Ultrashort Bond ESG SRI UCITS ETF EUR (Dist) (EUED.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.
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.
| ERNX.DE | EUED.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.47 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 6.07 | 11.93 | -5.86 |
| Martin ratioReturn relative to average drawdown | 28.42 | 26.53 | +1.89 |
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Drawdowns
ERNX.DE vs. EUED.DE - Drawdown Comparison
The maximum ERNX.DE drawdown since its inception was -0.80%, smaller than the maximum EUED.DE drawdown of -3.54%. Use the drawdown chart below to compare losses from any high point for ERNX.DE and EUED.DE.
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Drawdown Indicators
| ERNX.DE | EUED.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.80% | -3.54% | +2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -0.36% | -0.20% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -0.39% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.20% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.07% | -0.73% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.09% | -0.01% |
Volatility
ERNX.DE vs. EUED.DE - Volatility Comparison
The current volatility for iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) is 0.18%, while iShares € Ultrashort Bond ESG SRI UCITS ETF EUR (Dist) (EUED.DE) has a volatility of 0.28%. This indicates that ERNX.DE experiences smaller price fluctuations and is considered to be less risky than EUED.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNX.DE | EUED.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.28% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 1.03% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 1.55% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.24% | 1.65% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.24% | 2.51% | -1.27% |
ERNX.DE vs. EUED.DE - Expense Ratio Comparison
Both ERNX.DE and EUED.DE have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ERNX.DE vs. EUED.DE - Dividend Comparison
ERNX.DE has not paid dividends to shareholders, while EUED.DE's dividend yield for the trailing twelve months is around 2.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EUED.DE iShares € Ultrashort Bond ESG SRI UCITS ETF EUR (Dist) | 2.36% | 2.74% | 3.86% | 2.75% | 0.00% | 0.00% | 0.11% |
Frequently Asked Questions
ERNX.DE and EUED.DE have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ERNX.DE and EUED.DE have the same expense ratio: 0.09% per year.
ERNX.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while EUED.DE tracks iBoxx MSCI ESG SRI EUR Liquid Investment Grade Ultrashort Index.
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