IGLO.L vs. ERNS.L
IGLO.L (iShares Global Government Bond UCITS) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - IGLO.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. IGLO.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, IGLO.L returned -0.82%/yr vs 1.46%/yr for ERNS.L. At a 0.32 correlation, their price movements are largely independent. IGLO.L charges 0.20%/yr vs 0.09%/yr for ERNS.L.
Performance
IGLO.L vs. ERNS.L - Performance Comparison
Loading charts...
Different Trading Currencies
IGLO.L is traded in USD, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLO.L achieves a -1.63% return, which is significantly lower than ERNS.L's 1.34% return. Over the past 10 years, IGLO.L has underperformed ERNS.L with an annualized return of -0.82%, while ERNS.L has yielded a comparatively higher 1.46% annualized return.
IGLO.L
- 1D
- 0.19%
- 1M
- -0.07%
- YTD
- -1.63%
- 6M
- -1.00%
- 1Y
- -0.09%
- 3Y*
- 1.45%
- 5Y*
- -3.35%
- 10Y*
- -0.82%
ERNS.L
- 1D
- 0.11%
- 1M
- -0.49%
- YTD
- 1.34%
- 6M
- 2.76%
- 1Y
- 3.45%
- 3Y*
- 7.82%
- 5Y*
- 2.53%
- 10Y*
- 1.46%
IGLO.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | -1.63% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.38% | 5.53% | -0.30% | 6.12% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.34% | 12.76% | 3.78% | 10.28% | -9.32% | -0.78% | 3.86% | 5.33% | -5.11% | 10.14% |
Correlation
The correlation between IGLO.L and ERNS.L is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.32 |
The correlation between IGLO.L and ERNS.L shifts across timeframes, from 0.32 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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
IGLO.L vs. ERNS.L — Risk / Return Rank
IGLO.L
ERNS.L
IGLO.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS (IGLO.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.
| IGLO.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.83 | -0.85 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1.86 | -1.91 |
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
| IGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 0.51 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.29 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | 0.15 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.06 | +0.07 |
Drawdowns
IGLO.L vs. ERNS.L - Drawdown Comparison
The maximum IGLO.L drawdown since its inception was -28.01%, smaller than the maximum ERNS.L drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for IGLO.L and ERNS.L.
Loading charts...
Drawdown Indicators
| IGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -34.17% | +6.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -4.13% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -7.89% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -24.43% | -1.45% |
Max Drawdown (10Y)Largest decline over 10 years | -28.01% | -24.90% | -3.11% |
Current DrawdownCurrent decline from peak | -19.08% | -1.54% | -17.54% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -16.12% | +7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.85% | -0.18% |
Volatility
IGLO.L vs. ERNS.L - Volatility Comparison
iShares Global Government Bond UCITS (IGLO.L) has a higher volatility of 2.20% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 1.95%. This indicates that IGLO.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 1.95% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.00% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 6.73% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.46% | 8.62% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 9.41% | -2.75% |
IGLO.L vs. ERNS.L - Expense Ratio Comparison
IGLO.L has a 0.20% expense ratio, which is higher than ERNS.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
IGLO.L vs. ERNS.L - Dividend Comparison
IGLO.L's dividend yield for the trailing twelve months is around 3.09%, less than ERNS.L's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
IGLO.L iShares Global Government Bond UCITS | 3.09% | 2.86% | 2.51% | 1.47% | 0.78% | 0.63% | 0.99% | 1.21% | 1.07% | 0.93% | 1.09% | 0.60% |
Frequently Asked Questions
IGLO.L and ERNS.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L is cheaper with a 0.09% expense ratio, compared with 0.20% for IGLO.L.
IGLO.L is categorized as Global Bonds, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.20% for IGLO.L and 0.09% for ERNS.L.
Find the right allocation for IGLO.L and ERNS.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