IGLS.L vs. ERNS.L
IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. IGLS.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, IGLS.L returned 0.91%/yr vs 2.21%/yr for ERNS.L. At a 0.11 correlation, their price movements are largely independent. IGLS.L charges 0.07%/yr vs 0.09%/yr for ERNS.L.
Performance
IGLS.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLS.L achieves a 0.53% return, which is significantly lower than ERNS.L's 1.67% return. Over the past 10 years, IGLS.L has underperformed ERNS.L with an annualized return of 0.91%, while ERNS.L has yielded a comparatively higher 2.21% annualized return.
IGLS.L
- 1D
- 0.21%
- 1M
- 0.68%
- YTD
- 0.53%
- 6M
- 1.02%
- 1Y
- 3.13%
- 3Y*
- 4.62%
- 5Y*
- 1.36%
- 10Y*
- 0.91%
ERNS.L
- 1D
- 0.03%
- 1M
- 0.34%
- YTD
- 1.67%
- 6M
- 1.95%
- 1Y
- 4.33%
- 3Y*
- 5.10%
- 5Y*
- 3.64%
- 10Y*
- 2.21%
IGLS.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.53% | 5.26% | 2.65% | 4.19% | -4.44% | -1.68% | 1.48% | 1.05% | 0.14% | -0.38% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.77% | 1.28% | 0.58% | 0.57% |
Correlation
The correlation between IGLS.L and ERNS.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.11 |
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Return for Risk
IGLS.L vs. ERNS.L — Risk / Return Rank
IGLS.L
ERNS.L
IGLS.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.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.
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.
| IGLS.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.89 | ||
| Sortino ratioReturn per unit of downside risk | -7.81 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 2.41 | -1.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 19.80 | -18.28 |
| Martin ratioReturn relative to average drawdown | 5.12 | 111.29 | -106.17 |
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Drawdowns
IGLS.L vs. ERNS.L - Drawdown Comparison
The maximum IGLS.L drawdown since its inception was -9.54%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for IGLS.L and ERNS.L.
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Drawdown Indicators
| IGLS.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -1.51% | -8.03% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -0.22% | -1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | -0.22% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -8.85% | -0.36% | -8.49% |
Max Drawdown (10Y)Largest decline over 10 years | -9.54% | -1.51% | -8.03% |
Current DrawdownCurrent decline from peak | -0.38% | 0.00% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -0.05% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.04% | +0.54% |
Volatility
IGLS.L vs. ERNS.L - Volatility Comparison
iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) has a higher volatility of 0.66% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.26%. This indicates that IGLS.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.
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Volatility by Period
| IGLS.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.26% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 0.67% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.99% | 0.80% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 0.82% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.18% | 0.92% | +1.26% |
IGLS.L vs. ERNS.L - Expense Ratio Comparison
IGLS.L has a 0.07% expense ratio, which is lower than ERNS.L's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGLS.L vs. ERNS.L - Dividend Comparison
IGLS.L's dividend yield for the trailing twelve months is around 3.97%, more than ERNS.L's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 3.24% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.97% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
IGLS.L and ERNS.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L is cheaper with a 0.07% expense ratio, compared with 0.09% for ERNS.L.
IGLS.L is categorized as European Government Bonds, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.07% for IGLS.L and 0.09% for ERNS.L.
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