ERNX.DE vs. GDIG.L
ERNX.DE (iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating) and GDIG.L (VanEck S&P Global Mining UCITS ETF) are both exchange-traded funds - ERNX.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while GDIG.L is a Materials fund tracking the S&P Global Mining Reduced Coal Index. Both are passively managed. Over the past 3 years, ERNX.DE returned 3.33%/yr vs 26.65%/yr for GDIG.L. At a 0.02 correlation, their price movements are largely independent. ERNX.DE charges 0.09%/yr vs 0.50%/yr for GDIG.L.
Performance
ERNX.DE vs. GDIG.L - Performance Comparison
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Different Trading Currencies
ERNX.DE is traded in EUR, while GDIG.L is traded in USD. To make them comparable, the GDIG.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNX.DE achieves a 0.87% return, which is significantly lower than GDIG.L's 18.73% return.
ERNX.DE
- 1D
- 0.04%
- 1M
- 0.26%
- YTD
- 0.87%
- 6M
- 0.99%
- 1Y
- 2.18%
- 3Y*
- 3.33%
- 5Y*
- —
- 10Y*
- —
GDIG.L
- 1D
- -0.41%
- 1M
- 4.32%
- YTD
- 18.73%
- 6M
- 25.33%
- 1Y
- 80.71%
- 3Y*
- 26.65%
- 5Y*
- 15.64%
- 10Y*
- —
ERNX.DE vs. GDIG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 0.87% | 2.69% | 4.04% | 3.34% | 0.10% |
GDIG.L VanEck S&P Global Mining UCITS ETF | 18.73% | 67.97% | -2.65% | 1.44% | -9.71% |
Correlation
The correlation between ERNX.DE and GDIG.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 2, 2022 | 0.02 |
The correlation between ERNX.DE and GDIG.L shifts across timeframes, from -0.10 (1 year) to 0.03 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERNX.DE vs. GDIG.L — Risk / Return Rank
ERNX.DE
GDIG.L
ERNX.DE vs. GDIG.L - 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 VanEck S&P Global Mining UCITS ETF (GDIG.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.
| ERNX.DE | GDIG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.38 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 10.99 | 3.53 | +7.46 |
| Martin ratioReturn relative to average drawdown | 54.93 | 11.83 | +43.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ERNX.DE | GDIG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.94 | 2.40 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.90 | 0.59 | +3.31 |
Drawdowns
ERNX.DE vs. GDIG.L - Drawdown Comparison
The maximum ERNX.DE drawdown since its inception was -0.83%, smaller than the maximum GDIG.L drawdown of -36.84%. Use the drawdown chart below to compare losses from any high point for ERNX.DE and GDIG.L.
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Drawdown Indicators
| ERNX.DE | GDIG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.83% | -36.84% | +36.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -22.72% | +22.52% |
Max Drawdown (3Y)Largest decline over 3 years | -0.20% | -22.74% | +22.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.97% | — |
Current DrawdownCurrent decline from peak | -0.00% | -10.12% | +10.12% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -11.22% | +11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 6.79% | -6.75% |
Volatility
ERNX.DE vs. GDIG.L - Volatility Comparison
The current volatility for iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) is 0.17%, while VanEck S&P Global Mining UCITS ETF (GDIG.L) has a volatility of 11.92%. This indicates that ERNX.DE experiences smaller price fluctuations and is considered to be less risky than GDIG.L 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 | GDIG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 11.92% | -11.75% |
Volatility (6M)Calculated over the trailing 6-month period | 0.56% | 28.04% | -27.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 33.51% | -32.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.68% | 29.37% | -28.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.68% | 28.32% | -27.64% |
ERNX.DE vs. GDIG.L - Expense Ratio Comparison
ERNX.DE has a 0.09% expense ratio, which is lower than GDIG.L's 0.50% expense ratio.
Dividends
ERNX.DE vs. GDIG.L - Dividend Comparison
Neither ERNX.DE nor GDIG.L has paid dividends to shareholders.
Frequently Asked Questions
ERNX.DE and GDIG.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, ERNX.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNX.DE is cheaper with a 0.09% expense ratio, compared with 0.50% for GDIG.L.
ERNX.DE is categorized as Ultrashort Bond, while GDIG.L is Materials. ERNX.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while GDIG.L tracks S&P Global Mining Reduced Coal Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.09% for ERNX.DE and 0.50% for GDIG.L.
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