JIBG.L vs. ERNU.L
JIBG.L (JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both Corporate Bonds funds - JIBG.L tracks the Bloomberg US Corp Bond TR USD while ERNU.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, JIBG.L returned 1.59%/yr vs 4.93%/yr for ERNU.L. A 0.64 correlation means they provide meaningful diversification when combined. JIBG.L charges 0.19%/yr vs 0.09%/yr for ERNU.L.
Performance
JIBG.L vs. ERNU.L - Performance Comparison
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Returns By Period
In the year-to-date period, JIBG.L achieves a 3.34% return, which is significantly lower than ERNU.L's 4.13% return.
JIBG.L
- 1D
- 0.78%
- 1M
- 3.64%
- YTD
- 3.34%
- 6M
- 4.08%
- 1Y
- 9.29%
- 3Y*
- 4.15%
- 5Y*
- 1.59%
- 10Y*
- —
ERNU.L
- 1D
- 0.23%
- 1M
- 2.45%
- YTD
- 4.13%
- 6M
- 4.58%
- 1Y
- 7.91%
- 3Y*
- 3.91%
- 5Y*
- 4.93%
- 10Y*
- 3.13%
JIBG.L vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JIBG.L JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 3.34% | 0.49% | 3.97% | 2.30% | -5.70% | -0.65% | -24.58% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 4.13% | -2.44% | 7.39% | -0.34% | 13.44% | 1.53% | -4.49% |
Correlation
The correlation between JIBG.L and ERNU.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2020 | 0.64 |
The correlation between JIBG.L and ERNU.L shifts across timeframes, from 0.60 (3 years) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JIBG.L vs. ERNU.L — Risk / Return Rank
JIBG.L
ERNU.L
JIBG.L vs. ERNU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JIBG.L) and iShares USD Ultrashort Bond UCITS ETF (ERNU.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.
| JIBG.L | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.78 | +0.22 |
| Martin ratioReturn relative to average drawdown | 4.99 | 4.60 | +0.40 |
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Drawdowns
JIBG.L vs. ERNU.L - Drawdown Comparison
The maximum JIBG.L drawdown since its inception was -33.28%, smaller than the maximum ERNU.L drawdown of -41.55%. Use the drawdown chart below to compare losses from any high point for JIBG.L and ERNU.L.
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Drawdown Indicators
| JIBG.L | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.28% | -41.55% | +8.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -4.43% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.67% | -9.54% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -12.77% | -14.92% | +2.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.92% | — |
Current DrawdownCurrent decline from peak | -22.33% | -1.88% | -20.45% |
Average DrawdownAverage peak-to-trough decline | -27.41% | -18.52% | -8.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.72% | +0.14% |
Volatility
JIBG.L vs. ERNU.L - Volatility Comparison
JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JIBG.L) and iShares USD Ultrashort Bond UCITS ETF (ERNU.L) have volatilities of 1.77% and 1.69%, 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
| JIBG.L | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.69% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 4.78% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 6.55% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.96% | 8.35% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.01% | 8.88% | +4.13% |
JIBG.L vs. ERNU.L - Expense Ratio Comparison
JIBG.L has a 0.19% expense ratio, which is higher than ERNU.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
JIBG.L vs. ERNU.L - Dividend Comparison
JIBG.L's dividend yield for the trailing twelve months is around 5.13%, more than ERNU.L's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 4.26% | 4.68% | 5.46% | 4.99% | 1.56% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
JIBG.L JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 5.13% | 4.93% | 5.37% | 4.10% | 3.94% | 6.87% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JIBG.L and ERNU.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNU.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNU.L is cheaper with a 0.09% expense ratio, compared with 0.19% for JIBG.L.
JIBG.L tracks Bloomberg US Corp Bond TR USD, while ERNU.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for JIBG.L and 0.09% for ERNU.L.
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