JGST.L vs. ERNE.L
JGST.L (JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist)) and ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) are both Ultrashort Bond funds. JGST.L is actively managed, while ERNE.L is passively managed. Over the past 5 years, JGST.L returned 3.47%/yr vs 1.93%/yr for ERNE.L. At a 0.05 correlation, their price movements are largely independent. JGST.L charges 0.18%/yr vs 0.09%/yr for ERNE.L.
Performance
JGST.L vs. ERNE.L - Performance Comparison
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Different Trading Currencies
JGST.L is traded in GBP, while ERNE.L is traded in EUR. To make them comparable, the ERNE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JGST.L achieves a 1.91% return, which is significantly higher than ERNE.L's -1.57% return.
JGST.L
- 1D
- 0.04%
- 1M
- 0.24%
- 6M
- 1.73%
- YTD
- 1.91%
- 1Y
- 4.08%
- 3Y*
- 5.01%
- 5Y*
- 3.47%
- 10Y*
- —
ERNE.L
- 1D
- 0.00%
- 1M
- -1.65%
- 6M
- -1.00%
- YTD
- -1.57%
- 1Y
- -0.01%
- 3Y*
- 2.84%
- 5Y*
- 1.93%
- 10Y*
- 1.18%
JGST.L vs. ERNE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 1.91% | 4.97% | 5.10% | 5.01% | 0.57% | -0.01% | 1.10% | 1.18% | 0.37% |
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | -1.57% | 8.08% | -0.59% | 1.32% | 4.91% | -6.27% | 5.73% | -5.37% | 2.20% |
Correlation
The correlation between JGST.L and ERNE.L is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018 | 0.05 |
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Return for Risk
JGST.L vs. ERNE.L — Risk / Return Rank
JGST.L
ERNE.L
JGST.L vs. ERNE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) (JGST.L) and iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.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.
| JGST.L | ERNE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.91 | ||
| Sortino ratioReturn per unit of downside risk | +10.25 | ||
| Omega ratioGain probability vs. loss probability | 2.71 | 1.00 | +1.71 |
| Calmar ratioReturn relative to maximum drawdown | 9.50 | -0.05 | +9.54 |
| Martin ratioReturn relative to average drawdown | 56.16 | -0.12 | +56.28 |
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Drawdowns
JGST.L vs. ERNE.L - Drawdown Comparison
The maximum JGST.L drawdown since its inception was -1.19%, smaller than the maximum ERNE.L drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for JGST.L and ERNE.L.
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Drawdown Indicators
| JGST.L | ERNE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.19% | -18.38% | +17.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -2.62% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.43% | -3.01% | +2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -0.76% | -4.82% | +4.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.73% | — |
Current DrawdownCurrent decline from peak | -0.08% | -2.62% | +2.54% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -5.90% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 1.04% | -0.97% |
Volatility
JGST.L vs. ERNE.L - Volatility Comparison
The current volatility for JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) (JGST.L) is 0.22%, while iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) has a volatility of 0.97%. This indicates that JGST.L experiences smaller price fluctuations and is considered to be less risky than ERNE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JGST.L | ERNE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.97% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 0.63% | 2.53% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.69% | 3.87% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 5.37% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.57% | 6.65% | -6.08% |
JGST.L vs. ERNE.L - Expense Ratio Comparison
JGST.L has a 0.18% expense ratio, which is higher than ERNE.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
JGST.L vs. ERNE.L - Dividend Comparison
JGST.L's dividend yield for the trailing twelve months is around 4.20%, more than ERNE.L's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 4.20% | 4.37% | 5.01% | 3.88% | 1.01% | 0.40% | 0.73% | 0.72% | 0.21% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JGST.L and ERNE.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNE.L is cheaper with a 0.09% expense ratio, compared with 0.18% for JGST.L.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JGST.L and 0.09% for ERNE.L.
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