IMV.L vs. ERNS.L
IMV.L (iShares Edge MSCI Europe Min Volatility UCITS) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - IMV.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. IMV.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, IMV.L returned 7.68%/yr vs 2.20%/yr for ERNS.L. At a 0.08 correlation, their price movements are largely independent. IMV.L charges 0.25%/yr vs 0.09%/yr for ERNS.L.
Performance
IMV.L vs. ERNS.L - Performance Comparison
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Different Trading Currencies
IMV.L is traded in GBp, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IMV.L achieves a 4.72% return, which is significantly higher than ERNS.L's 1.58% return. Over the past 10 years, IMV.L has outperformed ERNS.L with an annualized return of 7.68%, while ERNS.L has yielded a comparatively lower 2.20% annualized return.
IMV.L
- 1D
- 0.51%
- 1M
- 1.21%
- YTD
- 4.72%
- 6M
- 5.90%
- 1Y
- 8.30%
- 3Y*
- 10.49%
- 5Y*
- 7.54%
- 10Y*
- 7.68%
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
IMV.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMV.L iShares Edge MSCI Europe Min Volatility UCITS | 4.72% | 17.66% | 6.63% | 8.56% | -7.83% | 13.68% | 1.50% | 16.37% | -2.91% | 13.29% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 1.27% | 0.58% | 0.57% |
Correlation
The correlation between IMV.L and ERNS.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.08 |
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Return for Risk
IMV.L vs. ERNS.L — Risk / Return Rank
IMV.L
ERNS.L
IMV.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Min Volatility UCITS (IMV.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.
| IMV.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.39 | ||
| Sortino ratioReturn per unit of downside risk | -8.21 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 2.39 | -1.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 20.38 | -19.41 |
| Martin ratioReturn relative to average drawdown | 2.92 | 108.76 | -105.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IMV.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 5.30 | -4.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 4.34 | -3.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 2.38 | -1.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 2.23 | -1.52 |
Drawdowns
IMV.L vs. ERNS.L - Drawdown Comparison
The maximum IMV.L drawdown since its inception was -24.48%, 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 IMV.L and ERNS.L.
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Drawdown Indicators
| IMV.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.48% | -1.51% | -22.97% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -0.22% | -8.28% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -0.22% | -8.28% |
Max Drawdown (5Y)Largest decline over 5 years | -17.42% | -0.36% | -17.06% |
Max Drawdown (10Y)Largest decline over 10 years | -24.48% | -1.51% | -22.97% |
Current DrawdownCurrent decline from peak | -4.62% | 0.00% | -4.62% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -0.05% | -3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 0.04% | +2.79% |
Volatility
IMV.L vs. ERNS.L - Volatility Comparison
iShares Edge MSCI Europe Min Volatility UCITS (IMV.L) has a higher volatility of 2.89% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that IMV.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
| IMV.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 0.36% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 0.68% | +7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.13% | 0.84% | +8.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 0.83% | +10.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.31% | 0.92% | +11.39% |
IMV.L vs. ERNS.L - Expense Ratio Comparison
IMV.L has a 0.25% 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
IMV.L vs. ERNS.L - Dividend Comparison
IMV.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 5.65%.
| 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% |
IMV.L iShares Edge MSCI Europe Min Volatility UCITS | 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
IMV.L and ERNS.L have a correlation of 0.11, 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 0.25% for IMV.L.
IMV.L is categorized as Europe Equities, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.25% for IMV.L and 0.09% for ERNS.L.
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