JRBU.L vs. ERNU.L
JRBU.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 - JRBU.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, JRBU.L returned 1.63%/yr vs 4.86%/yr for ERNU.L. A 0.67 correlation means they provide meaningful diversification when combined. JRBU.L charges 0.19%/yr vs 0.09%/yr for ERNU.L.
Performance
JRBU.L vs. ERNU.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRBU.L achieves a 0.63% return, which is significantly lower than ERNU.L's 1.86% return.
JRBU.L
- 1D
- 0.23%
- 1M
- 1.53%
- YTD
- 0.63%
- 6M
- 0.24%
- 1Y
- 6.96%
- 3Y*
- 2.58%
- 5Y*
- 1.63%
- 10Y*
- —
ERNU.L
- 1D
- 0.09%
- 1M
- 1.33%
- YTD
- 1.86%
- 6M
- 1.30%
- 1Y
- 5.39%
- 3Y*
- 2.46%
- 5Y*
- 4.86%
- 10Y*
- 3.51%
JRBU.L vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JRBU.L JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 0.63% | 0.49% | 3.98% | 2.31% | -5.58% | -0.42% | 5.50% | 10.97% | -0.12% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.86% | -2.45% | 7.39% | -0.34% | 13.45% | 1.52% | -2.17% | -0.16% | -0.87% |
Correlation
The correlation between JRBU.L and ERNU.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2018 | 0.67 |
The correlation between JRBU.L and ERNU.L shifts across timeframes, from 0.59 (3 years) to 0.72 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JRBU.L vs. ERNU.L — Risk / Return Rank
JRBU.L
ERNU.L
JRBU.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 (JRBU.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.
| JRBU.L | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.21 | +0.28 |
| Martin ratioReturn relative to average drawdown | 3.72 | 3.09 | +0.64 |
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
| JRBU.L | ERNU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 0.83 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.58 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.42 | -0.19 |
Drawdowns
JRBU.L vs. ERNU.L - Drawdown Comparison
The maximum JRBU.L drawdown since its inception was -16.97%, which is greater than ERNU.L's maximum drawdown of -14.92%. Use the drawdown chart below to compare losses from any high point for JRBU.L and ERNU.L.
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Drawdown Indicators
| JRBU.L | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.97% | -14.92% | -2.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -4.43% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.72% | -9.54% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -12.81% | -14.92% | +2.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.92% | — |
Current DrawdownCurrent decline from peak | -5.87% | -4.01% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -5.80% | -2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.74% | +0.12% |
Volatility
JRBU.L vs. ERNU.L - Volatility Comparison
The current volatility for JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JRBU.L) is 1.52%, while iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a volatility of 2.03%. This indicates that JRBU.L experiences smaller price fluctuations and is considered to be less risky than ERNU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRBU.L | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 2.03% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 4.72% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.46% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.01% | 8.36% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 9.34% | +0.48% |
JRBU.L vs. ERNU.L - Expense Ratio Comparison
JRBU.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
JRBU.L vs. ERNU.L - Dividend Comparison
JRBU.L has not paid dividends to shareholders, while ERNU.L's dividend yield for the trailing twelve months is around 5.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 5.69% | 4.68% | 5.45% | 5.00% | 1.55% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
JRBU.L JPMorgan USD Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 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
JRBU.L and ERNU.L have a correlation of 0.72, 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 JRBU.L.
JRBU.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 JRBU.L and 0.09% for ERNU.L.
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