IGLN.L vs. ERN1.L
IGLN.L (iShares Physical Gold ETC) and ERN1.L (iShares € Ultrashort Bond UCITS ETF) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, while ERN1.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 10 years, IGLN.L returned 12.87%/yr vs 1.29%/yr for ERN1.L. At a 0.30 correlation, their price movements are largely independent. IGLN.L charges 0.12%/yr vs 0.09%/yr for ERN1.L.
Performance
IGLN.L vs. ERN1.L - Performance Comparison
Loading charts...
Different Trading Currencies
IGLN.L is traded in USD, while ERN1.L is traded in GBP. To make them comparable, the ERN1.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLN.L achieves a 0.50% return, which is significantly higher than ERN1.L's -1.01% return. Over the past 10 years, IGLN.L has outperformed ERN1.L with an annualized return of 12.87%, while ERN1.L has yielded a comparatively lower 1.29% annualized return.
IGLN.L
- 1D
- -0.32%
- 1M
- -8.04%
- YTD
- 0.50%
- 6M
- 3.23%
- 1Y
- 29.84%
- 3Y*
- 30.05%
- 5Y*
- 17.89%
- 10Y*
- 12.87%
ERN1.L
- 1D
- 0.26%
- 1M
- -1.81%
- YTD
- -1.01%
- 6M
- 0.23%
- 1Y
- 3.48%
- 3Y*
- 5.77%
- 5Y*
- 0.98%
- 10Y*
- 1.29%
IGLN.L vs. ERN1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 0.50% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
ERN1.L iShares € Ultrashort Bond UCITS ETF | -1.01% | 16.19% | -2.25% | 6.72% | -5.98% | -7.67% | 8.89% | -0.94% | -5.24% | 13.20% |
Correlation
The correlation between IGLN.L and ERN1.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.30 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGLN.L vs. ERN1.L — Risk / Return Rank
IGLN.L
ERN1.L
IGLN.L vs. ERN1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) 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.
| IGLN.L | ERN1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.09 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.70 | +0.93 |
| Martin ratioReturn relative to average drawdown | 4.30 | 1.78 | +2.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IGLN.L | ERN1.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.53 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.12 | +0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.16 | +0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -0.18 | +0.62 |
Drawdowns
IGLN.L vs. ERN1.L - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, which is greater than ERN1.L's maximum drawdown of -40.48%. Use the drawdown chart below to compare losses from any high point for IGLN.L and ERN1.L.
Loading charts...
Drawdown Indicators
| IGLN.L | ERN1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -40.48% | -4.77% |
Max Drawdown (1Y)Largest decline over 1 year | -18.26% | -4.94% | -13.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.26% | -7.60% | -10.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -22.67% | +1.52% |
Max Drawdown (10Y)Largest decline over 10 years | -21.15% | -24.86% | +3.71% |
Current DrawdownCurrent decline from peak | -18.26% | -19.22% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -26.84% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.93% | 1.95% | +4.98% |
Volatility
IGLN.L vs. ERN1.L - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) has a higher volatility of 6.10% compared to iShares € Ultrashort Bond UCITS ETF (ERN1.L) at 1.86%. This indicates that IGLN.L'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.
Loading charts...
Volatility by Period
| IGLN.L | ERN1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 1.86% | +4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 4.81% | +17.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 6.60% | +18.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 8.04% | +9.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 7.89% | +7.67% |
IGLN.L vs. ERN1.L - Expense Ratio Comparison
IGLN.L has a 0.12% expense ratio, which is higher than ERN1.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
IGLN.L vs. ERN1.L - Dividend Comparison
IGLN.L has not paid dividends to shareholders, while ERN1.L's dividend yield for the trailing twelve months is around 3.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERN1.L iShares € Ultrashort Bond UCITS ETF | 3.28% | 2.70% | 3.82% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGLN.L and ERN1.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERN1.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERN1.L is cheaper with a 0.09% expense ratio, compared with 0.12% for IGLN.L.
IGLN.L is categorized as Gold, while ERN1.L is Ultrashort Bond. IGLN.L tracks LBMA Gold Price, while ERN1.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. Their fees differ too: 0.12% for IGLN.L and 0.09% for ERN1.L.
Find the right allocation for IGLN.L and ERN1.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer