JRUP.L vs. ERNU.L
JRUP.L (JPMorgan ETFs Ireland ICAV - JPM USD IG Corporate Bond Active UCITS ETF - GBP Hedged (acc)) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both Corporate Bonds funds. JRUP.L is actively managed, while ERNU.L is passively managed. Over the past 3 years, JRUP.L returned 4.67%/yr vs 4.10%/yr for ERNU.L. At a correlation of -0.32, they often move in opposite directions.
Performance
JRUP.L vs. ERNU.L - Performance Comparison
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Returns By Period
JRUP.L
- 1D
- 0.07%
- 1M
- -0.66%
- 6M
- -0.16%
- YTD
- 0.00%
- 1Y
- 4.85%
- 3Y*
- 4.67%
- 5Y*
- —
- 10Y*
- —
ERNU.L
- 1D
- -0.66%
- 1M
- -0.09%
- 6M
- 1.60%
- YTD
- 1.85%
- 1Y
- 3.51%
- 3Y*
- 4.10%
- 5Y*
- 4.28%
- 10Y*
- 2.57%
JRUP.L vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRUP.L JPMorgan ETFs Ireland ICAV - JPM USD IG Corporate Bond Active UCITS ETF - GBP Hedged (acc) | 0.00% | 7.47% | 2.11% | 7.12% | -14.19% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.85% | -2.44% | 7.39% | -0.34% | 14.71% |
Correlation
The correlation between JRUP.L and ERNU.L is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2022 | -0.32 |
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Return for Risk
JRUP.L vs. ERNU.L — Risk / Return Rank
JRUP.L
ERNU.L
JRUP.L vs. ERNU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs Ireland ICAV - JPM USD IG Corporate Bond Active UCITS ETF - GBP Hedged (acc) (JRUP.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.
| JRUP.L | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.10 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 0.79 | +0.82 |
| Martin ratioReturn relative to average drawdown | 4.75 | 2.01 | +2.74 |
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Drawdowns
JRUP.L vs. ERNU.L - Drawdown Comparison
The maximum JRUP.L drawdown since its inception was -19.44%, smaller than the maximum ERNU.L drawdown of -41.55%. Use the drawdown chart below to compare losses from any high point for JRUP.L and ERNU.L.
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Drawdown Indicators
| JRUP.L | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.44% | -41.55% | +22.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -4.43% | +1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -9.54% | +3.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.92% | — |
Current DrawdownCurrent decline from peak | -1.39% | -4.03% | +2.64% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -18.45% | +10.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.74% | -0.72% |
Volatility
JRUP.L vs. ERNU.L - Volatility Comparison
The current volatility for JPMorgan ETFs Ireland ICAV - JPM USD IG Corporate Bond Active UCITS ETF - GBP Hedged (acc) (JRUP.L) is 1.01%, while iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a volatility of 1.80%. This indicates that JRUP.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
| JRUP.L | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.80% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 4.81% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 6.42% | -1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 8.35% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.81% | 8.73% | -0.92% |
Dividends
JRUP.L vs. ERNU.L - Dividend Comparison
JRUP.L has not paid dividends to shareholders, while ERNU.L's dividend yield for the trailing twelve months is around 4.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 4.35% | 4.68% | 5.46% | 4.99% | 1.56% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
JRUP.L JPMorgan ETFs Ireland ICAV - 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 ERNU.L have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: JPMorgan and iShares.
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