JRUP.L vs. ERND.L
JRUP.L (JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - JRUP.L is a Corporate Bonds fund actively managed by JPMorgan, while ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). JRUP.L is actively managed, while ERND.L is passively managed. Over the past 3 years, JRUP.L returned 4.65%/yr vs 4.00%/yr for ERND.L. At a correlation of -0.24, they often move in opposite directions. JRUP.L charges 0.19%/yr vs 0.09%/yr for ERND.L.
Performance
JRUP.L vs. ERND.L - Performance Comparison
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Different Trading Currencies
JRUP.L is traded in GBP, while ERND.L is traded in USD. To make them comparable, the ERND.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JRUP.L achieves a -0.08% return, which is significantly lower than ERND.L's 2.19% return.
JRUP.L
- 1D
- -0.01%
- 1M
- -0.77%
- 6M
- -0.01%
- YTD
- -0.08%
- 1Y
- 4.38%
- 3Y*
- 4.65%
- 5Y*
- —
- 10Y*
- —
ERND.L
- 1D
- 0.22%
- 1M
- -0.96%
- 6M
- 1.28%
- YTD
- 2.19%
- 1Y
- 3.95%
- 3Y*
- 4.00%
- 5Y*
- 4.32%
- 10Y*
- 2.50%
JRUP.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRUP.L JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) | -0.08% | 7.47% | 2.11% | 7.12% | -14.19% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.19% | -2.63% | 7.39% | -0.16% | 14.50% |
Correlation
The correlation between JRUP.L and ERND.L is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2022 | -0.24 |
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Return for Risk
JRUP.L vs. ERND.L — Risk / Return Rank
JRUP.L
ERND.L
JRUP.L vs. ERND.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JRUP.L) and iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.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.
| JRUP.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.11 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 0.77 | +0.82 |
| Martin ratioReturn relative to average drawdown | 4.66 | 2.14 | +2.52 |
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Drawdowns
JRUP.L vs. ERND.L - Drawdown Comparison
The maximum JRUP.L drawdown since its inception was -19.44%, which is greater than ERND.L's maximum drawdown of -15.45%. Use the drawdown chart below to compare losses from any high point for JRUP.L and ERND.L.
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Drawdown Indicators
| JRUP.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.44% | -15.45% | -3.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -5.14% | +2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.20% | -9.61% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.45% | — |
Current DrawdownCurrent decline from peak | -1.47% | -4.19% | +2.72% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -5.98% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.84% | -0.82% |
Volatility
JRUP.L vs. ERND.L - Volatility Comparison
The current volatility for JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JRUP.L) is 1.01%, while iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) has a volatility of 1.65%. This indicates that JRUP.L experiences smaller price fluctuations and is considered to be less risky than ERND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRUP.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.65% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 5.13% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 6.63% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 8.44% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.81% | 8.74% | -0.93% |
JRUP.L vs. ERND.L - Expense Ratio Comparison
JRUP.L has a 0.19% expense ratio, which is higher than ERND.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
JRUP.L vs. ERND.L - Dividend Comparison
JRUP.L has not paid dividends to shareholders, while ERND.L's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
JRUP.L JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) | 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
JRUP.L and ERND.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERND.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERND.L is cheaper with a 0.09% expense ratio, compared with 0.19% for JRUP.L.
JRUP.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for JRUP.L and 0.09% for ERND.L.
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