FLUC.L vs. ERNA.L
FLUC.L (Franklin USD Investment Grade Corporate Bond UCITS ETF) and ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) are both Corporate Bonds funds - FLUC.L tracks the Franklin USD Investment Grade Corporate Bond UCITS ETF while ERNA.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, FLUC.L returned -0.47%/yr vs 3.85%/yr for ERNA.L. At a 0.14 correlation, their price movements are largely independent. FLUC.L charges 0.35%/yr vs 0.09%/yr for ERNA.L.
Performance
FLUC.L vs. ERNA.L - Performance Comparison
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Returns By Period
In the year-to-date period, FLUC.L achieves a -1.26% return, which is significantly lower than ERNA.L's 2.07% return.
FLUC.L
- 1D
- -1.05%
- 1M
- -1.47%
- 6M
- -1.26%
- YTD
- -1.26%
- 1Y
- 3.65%
- 3Y*
- 4.32%
- 5Y*
- -0.47%
- 10Y*
- —
ERNA.L
- 1D
- 0.16%
- 1M
- 0.31%
- 6M
- 1.91%
- YTD
- 2.07%
- 1Y
- 4.40%
- 3Y*
- 5.12%
- 5Y*
- 3.85%
- 10Y*
- —
FLUC.L vs. ERNA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF | -1.26% | 7.46% | 2.08% | 7.77% | -15.53% | -2.24% | 9.76% | 14.52% | 0.36% |
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 2.07% | 4.85% | 5.65% | 5.44% | 1.46% | 0.11% | 1.27% | 3.19% | 1.14% |
Correlation
The correlation between FLUC.L and ERNA.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.14 |
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Return for Risk
FLUC.L vs. ERNA.L — Risk / Return Rank
FLUC.L
ERNA.L
FLUC.L vs. ERNA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin USD Investment Grade Corporate Bond UCITS ETF (FLUC.L) and iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.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.
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.
| FLUC.L | ERNA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -4.30 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 2.14 | -1.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 13.86 | -12.49 |
| Martin ratioReturn relative to average drawdown | 3.77 | 58.00 | -54.23 |
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Drawdowns
FLUC.L vs. ERNA.L - Drawdown Comparison
The maximum FLUC.L drawdown since its inception was -22.30%, which is greater than ERNA.L's maximum drawdown of -8.63%. Use the drawdown chart below to compare losses from any high point for FLUC.L and ERNA.L.
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Drawdown Indicators
| FLUC.L | ERNA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.30% | -8.63% | -13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -0.32% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -0.33% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -0.81% | -21.31% |
Current DrawdownCurrent decline from peak | -3.60% | 0.00% | -3.60% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -0.09% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.08% | +0.87% |
Volatility
FLUC.L vs. ERNA.L - Volatility Comparison
Franklin USD Investment Grade Corporate Bond UCITS ETF (FLUC.L) has a higher volatility of 1.70% compared to iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) at 0.39%. This indicates that FLUC.L's price experiences larger fluctuations and is considered to be riskier than ERNA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLUC.L | ERNA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 0.39% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 1.24% | +2.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.04% | 1.43% | +3.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.78% | 1.24% | +5.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 2.25% | +4.84% |
FLUC.L vs. ERNA.L - Expense Ratio Comparison
FLUC.L has a 0.35% expense ratio, which is higher than ERNA.L's 0.09% expense ratio.
Dividends
FLUC.L vs. ERNA.L - Dividend Comparison
FLUC.L's dividend yield for the trailing twelve months is around 4.26%, while ERNA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF | 4.26% | 4.01% | 4.26% | 3.38% | 2.76% | 2.17% | 2.29% | 3.37% | 1.61% |
Frequently Asked Questions
FLUC.L and ERNA.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.35% for FLUC.L.
FLUC.L tracks Franklin USD Investment Grade Corporate Bond UCITS ETF, while ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Franklin and iShares. Their fees differ too: 0.35% for FLUC.L and 0.09% for ERNA.L.
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