IS3L.DE vs. UESD.L
IS3L.DE (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and UESD.L (iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc) are both Ultrashort Bond funds from iShares. Over the past 5 years, IS3L.DE returned 4.50%/yr vs 3.92%/yr for UESD.L. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
IS3L.DE vs. UESD.L - Performance Comparison
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Different Trading Currencies
IS3L.DE is traded in EUR, while UESD.L is traded in GBP. To make them comparable, the UESD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS3L.DE achieves a 5.03% return, which is significantly higher than UESD.L's 4.75% return.
IS3L.DE
- 1D
- 0.09%
- 1M
- 1.67%
- 6M
- 3.08%
- YTD
- 5.03%
- 1Y
- 5.65%
- 3Y*
- 4.45%
- 5Y*
- 4.50%
- 10Y*
- 2.38%
UESD.L
- 1D
- -0.18%
- 1M
- 2.39%
- 6M
- 4.25%
- YTD
- 4.75%
- 1Y
- 6.23%
- 3Y*
- 5.52%
- 5Y*
- 3.92%
- 10Y*
- —
IS3L.DE vs. UESD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 5.03% | -7.06% | 11.88% | 1.83% | 7.62% | 8.58% | -8.34% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 4.75% | -0.35% | 10.54% | 6.56% | -3.61% | 6.76% | 2.49% |
Correlation
The correlation between IS3L.DE and UESD.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2020 | 0.16 |
The correlation between IS3L.DE and UESD.L shifts across timeframes, from 0.08 (1 year) to 0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS3L.DE vs. UESD.L — Risk / Return Rank
IS3L.DE
UESD.L
IS3L.DE vs. UESD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.DE) and iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.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.
| IS3L.DE | UESD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 4.23 | -2.54 |
| Martin ratioReturn relative to average drawdown | 4.09 | 10.51 | -6.42 |
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Drawdowns
IS3L.DE vs. UESD.L - Drawdown Comparison
The maximum IS3L.DE drawdown since its inception was -28.17%, which is greater than UESD.L's maximum drawdown of -7.78%. Use the drawdown chart below to compare losses from any high point for IS3L.DE and UESD.L.
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Drawdown Indicators
| IS3L.DE | UESD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.17% | -7.78% | -20.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -1.47% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -11.38% | -4.84% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -11.38% | -7.78% | -3.60% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | — | — |
Current DrawdownCurrent decline from peak | -4.72% | -0.27% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -9.18% | -1.72% | -7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.59% | +0.79% |
Volatility
IS3L.DE vs. UESD.L - Volatility Comparison
iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.DE) and iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L) have volatilities of 1.14% and 1.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3L.DE | UESD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.16% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 2.67% | +1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 4.12% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.42% | 5.63% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.53% | 6.24% | +4.29% |
IS3L.DE vs. UESD.L - Expense Ratio Comparison
Both IS3L.DE and UESD.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IS3L.DE vs. UESD.L - Dividend Comparison
IS3L.DE's dividend yield for the trailing twelve months is around 4.24%, which matches UESD.L's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.24% | 4.74% | 5.44% | 5.05% | 1.59% | 0.47% | 1.64% | 2.71% | 2.19% | 1.45% | 0.97% | 0.72% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 4.25% | 4.63% | 5.37% | 4.49% | 1.21% | 0.24% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IS3L.DE and UESD.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IS3L.DE and UESD.L have the same expense ratio: 0.09% per year.
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