IE15.L vs. ERNE.L
IE15.L (iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)) and ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - IE15.L is a Short-Term Bond fund tracking the BBG Euro Corp 1-5 Yrs (EUR), while ERNE.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 10 years, IE15.L returned 0.76%/yr vs 1.03%/yr for ERNE.L. At a 0.15 correlation, their price movements are largely independent. IE15.L charges 0.20%/yr vs 0.09%/yr for ERNE.L.
Performance
IE15.L vs. ERNE.L - Performance Comparison
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Returns By Period
In the year-to-date period, IE15.L achieves a -1.15% return, which is significantly lower than ERNE.L's 1.15% return. Over the past 10 years, IE15.L has underperformed ERNE.L with an annualized return of 0.76%, while ERNE.L has yielded a comparatively higher 1.03% annualized return.
IE15.L
- 1D
- -0.04%
- 1M
- -0.18%
- 6M
- 0.17%
- YTD
- -1.15%
- 1Y
- -0.29%
- 3Y*
- 3.52%
- 5Y*
- 0.68%
- 10Y*
- 0.76%
ERNE.L
- 1D
- -0.03%
- 1M
- 0.20%
- 6M
- 1.04%
- YTD
- 1.15%
- 1Y
- 2.14%
- 3Y*
- 3.26%
- 5Y*
- 2.15%
- 10Y*
- 1.03%
IE15.L vs. ERNE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | -1.15% | 3.42% | 4.34% | 5.77% | -7.79% | -0.34% | 1.06% | 2.63% | -0.65% | 0.86% |
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 1.15% | 2.59% | 4.15% | 3.38% | -0.24% | -0.36% | 0.07% | 0.32% | -0.60% | -0.09% |
Correlation
The correlation between IE15.L and ERNE.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.15 |
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Return for Risk
IE15.L vs. ERNE.L — Risk / Return Rank
IE15.L
ERNE.L
IE15.L vs. ERNE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) and iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.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.
| IE15.L | ERNE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -6.37 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.86 | -0.88 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 11.97 | -12.07 |
| Martin ratioReturn relative to average drawdown | -0.25 | 66.31 | -66.56 |
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Drawdowns
IE15.L vs. ERNE.L - Drawdown Comparison
The maximum IE15.L drawdown since its inception was -10.14%, which is greater than ERNE.L's maximum drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for IE15.L and ERNE.L.
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Drawdown Indicators
| IE15.L | ERNE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.14% | -3.05% | -7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -0.18% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -0.33% | -2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -10.14% | -1.12% | -9.02% |
Max Drawdown (10Y)Largest decline over 10 years | -10.14% | -3.05% | -7.09% |
Current DrawdownCurrent decline from peak | -1.40% | -0.03% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -0.28% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.03% | +1.13% |
Volatility
IE15.L vs. ERNE.L - Volatility Comparison
iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) has a higher volatility of 0.58% compared to iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) at 0.20%. This indicates that IE15.L's price experiences larger fluctuations and is considered to be riskier than ERNE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IE15.L | ERNE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.20% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 0.48% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 0.58% | +1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 0.60% | +2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 0.76% | +2.56% |
IE15.L vs. ERNE.L - Expense Ratio Comparison
IE15.L has a 0.20% expense ratio, which is higher than ERNE.L's 0.09% 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%.
Dividends
IE15.L vs. ERNE.L - Dividend Comparison
IE15.L's dividend yield for the trailing twelve months is around 1.51%, less than ERNE.L's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | 1.51% | 2.92% | 2.50% | 1.41% | 0.51% | 0.57% | 0.59% | 0.62% | 0.62% | 0.68% | 0.90% | 0.56% |
Frequently Asked Questions
IE15.L and ERNE.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNE.L is cheaper with a 0.09% expense ratio, compared with 0.20% for IE15.L.
IE15.L is categorized as Short-Term Bond, while ERNE.L is Ultrashort Bond. IE15.L tracks BBG Euro Corp 1-5 Yrs (EUR), while ERNE.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Their fees differ too: 0.20% for IE15.L and 0.09% for ERNE.L.
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