LQDA.L vs. ERNA.L
LQDA.L (iShares USD Corporate Bond UCITS ETF (Acc)) and ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) are both Corporate Bonds funds from iShares - LQDA.L tracks the Bloomberg US Corp Bond TR USD while ERNA.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, LQDA.L returned -0.01%/yr vs 3.77%/yr for ERNA.L. At a 0.15 correlation, their price movements are largely independent. LQDA.L charges 0.20%/yr vs 0.09%/yr for ERNA.L.
Performance
LQDA.L vs. ERNA.L - Performance Comparison
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Returns By Period
In the year-to-date period, LQDA.L achieves a 0.02% return, which is significantly lower than ERNA.L's 1.64% return.
LQDA.L
- 1D
- 0.38%
- 1M
- 0.35%
- YTD
- 0.02%
- 6M
- 0.29%
- 1Y
- 5.53%
- 3Y*
- 5.02%
- 5Y*
- -0.01%
- 10Y*
- —
ERNA.L
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.64%
- 6M
- 1.95%
- 1Y
- 4.36%
- 3Y*
- 5.21%
- 5Y*
- 3.77%
- 10Y*
- —
LQDA.L vs. ERNA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQDA.L iShares USD Corporate Bond UCITS ETF (Acc) | 0.02% | 8.01% | 1.25% | 8.99% | -17.75% | -1.66% | 10.56% | 18.22% | -0.27% |
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 1.64% | 4.75% | 5.66% | 5.50% | 1.46% | 0.11% | 1.27% | 3.19% | 1.09% |
Correlation
The correlation between LQDA.L and ERNA.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.15 |
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Return for Risk
LQDA.L vs. ERNA.L — Risk / Return Rank
LQDA.L
ERNA.L
LQDA.L vs. ERNA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L) and iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.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.
| LQDA.L | ERNA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.67 | ||
| Sortino ratioReturn per unit of downside risk | -6.87 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 2.31 | -1.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 21.10 | -19.44 |
| Martin ratioReturn relative to average drawdown | 4.58 | 82.85 | -78.27 |
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
| LQDA.L | ERNA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 4.65 | -3.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 4.03 | -4.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 1.43 | -1.15 |
Drawdowns
LQDA.L vs. ERNA.L - Drawdown Comparison
The maximum LQDA.L drawdown since its inception was -25.10%, which is greater than ERNA.L's maximum drawdown of -8.63%. Use the drawdown chart below to compare losses from any high point for LQDA.L and ERNA.L.
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Drawdown Indicators
| LQDA.L | ERNA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -8.63% | -16.47% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -0.20% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -0.38% | -7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -25.10% | -0.81% | -24.29% |
Current DrawdownCurrent decline from peak | -3.58% | 0.00% | -3.58% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -0.10% | -6.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 0.05% | +1.15% |
Volatility
LQDA.L vs. ERNA.L - Volatility Comparison
iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L) has a higher volatility of 2.23% compared to iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) at 0.30%. This indicates that LQDA.L's price experiences larger fluctuations and is considered to be riskier than ERNA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDA.L | ERNA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.23% | 0.30% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 4.27% | 0.86% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 0.93% | +4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.47% | 0.93% | +7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.11% | 2.17% | +6.94% |
LQDA.L vs. ERNA.L - Expense Ratio Comparison
LQDA.L has a 0.20% expense ratio, which is higher than ERNA.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
LQDA.L vs. ERNA.L - Dividend Comparison
Neither LQDA.L nor ERNA.L has paid dividends to shareholders.
Frequently Asked Questions
LQDA.L and ERNA.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.20% for LQDA.L.
LQDA.L tracks Bloomberg US Corp Bond TR USD, while ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD. Their fees differ too: 0.20% for LQDA.L and 0.09% for ERNA.L.
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