EUNW.DE vs. ERN1.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) and iShares € Ultrashort Bond UCITS ETF (ERN1.L).

EUNW.DE and ERN1.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EUNW.DE is a passively managed fund by iShares that tracks the performance of the iBoxx® EUR Liquid High Yield. It was launched on Sep 3, 2010. ERN1.L is a passively managed fund by iShares that tracks the performance of the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. It was launched on Oct 16, 2013. Both EUNW.DE and ERN1.L 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

EUNW.DE vs. ERN1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) and iShares € Ultrashort Bond UCITS ETF (ERN1.L). The values are adjusted to include any dividend payments, if applicable.

EUNW.DE vs. ERN1.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)	-1.08%	5.00%	5.90%	11.26%	-9.36%	2.93%	1.06%	9.87%	-3.52%	4.59%
ERN1.L iShares € Ultrashort Bond UCITS ETF	0.03%	873.42%	32.25%	-344.35%	-0.16%	-0.76%	-0.09%	1.30%	-0.79%	-0.70%

Different Trading Currencies

EUNW.DE is traded in EUR, while ERN1.L is traded in GBP. To make them comparable, the ERN1.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, EUNW.DE achieves a -1.08% return, which is significantly lower than ERN1.L's 0.03% return.

EUNW.DE

• 1D: 1.02%
• 1M: -0.96%
• YTD: -1.08%
• 6M: -0.14%
• 1Y: 3.18%
• 3Y*: 5.85%
• 5Y*: 2.41%
• 10Y*: 3.07%

ERN1.L

• 1D: 0.46%
• 1M: -0.46%
• YTD: 0.03%
• 6M: -599.71%
• 1Y: 868.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EUNW.DE vs. ERN1.L - Expense Ratio Comparison

EUNW.DE has a 0.50% expense ratio, which is higher than ERN1.L's 0.09% expense ratio.

EUNW.DE

iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)

ERN1.L

iShares € Ultrashort Bond UCITS ETF

Return for Risk

EUNW.DE vs. ERN1.L — Risk / Return Rank

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

EUNW.DE

EUNW.DE Risk / Return Rank: 43
EUNW.DE Sharpe Ratio Rank: 43
EUNW.DE Sortino Ratio Rank: 41
EUNW.DE Omega Ratio Rank: 42
EUNW.DE Calmar Ratio Rank: 42
EUNW.DE Martin Ratio Rank: 49

ERN1.L

ERN1.L Risk / Return Rank: 32
ERN1.L Sharpe Ratio Rank: 73
ERN1.L Sortino Ratio Rank: 1
ERN1.L Omega Ratio Rank: 0
ERN1.L Calmar Ratio Rank: 55
ERN1.L Martin Ratio Rank: 31

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.

EUNW.DE vs. ERN1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) and iShares € Ultrashort Bond UCITS ETF (ERN1.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.

	EUNW.DE	ERN1.L	Difference
Sharpe ratio Return per unit of total volatility	0.84	1.30	-0.46
Sortino ratio Return per unit of downside risk	1.22	-1.33	+2.55
Omega ratio Gain probability vs. loss probability	1.17	0.02	+1.15
Calmar ratio Return relative to maximum drawdown	1.18	1.44	-0.26
Martin ratio Return relative to average drawdown	4.92	2.62	+2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUNW.DE vs. ERN1.L - Sharpe Ratio Comparison

The current EUNW.DE Sharpe Ratio is 0.84, which is lower than the ERN1.L Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of EUNW.DE and ERN1.L, 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

	EUNW.DE	ERN1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	1.30	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	—	—

Correlation

The correlation between EUNW.DE and ERN1.L is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

EUNW.DE vs. ERN1.L - Dividend Comparison

EUNW.DE's dividend yield for the trailing twelve months is around 5.27%, less than ERN1.L's 271.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)	5.27%	5.45%	6.09%	5.41%	3.70%	3.07%	3.67%	3.75%	3.68%	3.78%	4.03%	4.59%
ERN1.L iShares € Ultrashort Bond UCITS ETF	271.43%	270.43%	382.39%	214.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.00%	13.08%

Drawdowns

EUNW.DE vs. ERN1.L - Drawdown Comparison

The maximum EUNW.DE drawdown since its inception was -25.47%, smaller than the maximum ERN1.L drawdown of -599.69%. Use the drawdown chart below to compare losses from any high point for EUNW.DE and ERN1.L.

Drawdown Indicators

	EUNW.DE	ERN1.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.47%	-596.86%	+571.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-297.73%	+294.90%
Max Drawdown (5Y) Largest decline over 5 years	-14.79%	-596.86%	+582.07%
Max Drawdown (10Y) Largest decline over 10 years	-25.47%	-596.86%	+571.39%
Current Drawdown Current decline from peak	-1.51%	-590.68%	+589.17%
Average Drawdown Average peak-to-trough decline	-2.33%	-36.27%	+33.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	326.57%	-325.89%

Volatility

EUNW.DE vs. ERN1.L - Volatility Comparison

iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) has a higher volatility of 1.98% compared to iShares € Ultrashort Bond UCITS ETF (ERN1.L) at 0.75%. This indicates that EUNW.DE's price experiences larger fluctuations and is considered to be riskier than ERN1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUNW.DE	ERN1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	0.75%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	1.48%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	659.83%	-656.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.20%	343.74%	-338.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.56%	242.97%	-236.41%