NEAR vs. ERNU.L
NEAR (iShares Short Duration Bond Active ETF) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both exchange-traded funds - NEAR is a Short-Term Bond fund actively managed by iShares, while ERNU.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD. NEAR is actively managed, while ERNU.L is passively managed. Over the past 10 years, NEAR returned 2.86%/yr vs 2.75%/yr for ERNU.L. At a 0.04 correlation, their price movements are largely independent. NEAR charges 0.25%/yr vs 0.09%/yr for ERNU.L.
Performance
NEAR vs. ERNU.L - Performance Comparison
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Different Trading Currencies
NEAR is traded in USD, while ERNU.L is traded in GBP. To make them comparable, the ERNU.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NEAR achieves a 0.83% return, which is significantly lower than ERNU.L's 1.87% return. Both investments have delivered pretty close results over the past 10 years, with NEAR having a 2.86% annualized return and ERNU.L not far behind at 2.75%.
NEAR
- 1D
- 0.10%
- 1M
- 0.31%
- YTD
- 0.83%
- 6M
- 0.94%
- 1Y
- 3.69%
- 3Y*
- 5.55%
- 5Y*
- 3.88%
- 10Y*
- 2.86%
ERNU.L
- 1D
- -0.08%
- 1M
- 0.50%
- YTD
- 1.87%
- 6M
- 1.96%
- 1Y
- 4.34%
- 3Y*
- 5.12%
- 5Y*
- 3.84%
- 10Y*
- 2.75%
NEAR vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 0.83% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.87% | 4.92% | 5.60% | 4.92% | 1.31% | 0.61% | 0.84% | 3.84% | 1.87% | 1.20% |
Correlation
The correlation between NEAR and ERNU.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013 | 0.04 |
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Return for Risk
NEAR vs. ERNU.L — Risk / Return Rank
NEAR
ERNU.L
NEAR vs. ERNU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) 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.
| NEAR | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.18 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 3.25 | +0.02 |
| Martin ratioReturn relative to average drawdown | 14.85 | 13.81 | +1.04 |
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Drawdowns
NEAR vs. ERNU.L - Drawdown Comparison
The maximum NEAR drawdown since its inception was -9.61%, smaller than the maximum ERNU.L drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for NEAR and ERNU.L.
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Drawdown Indicators
| NEAR | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.61% | -37.72% | +28.11% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -1.33% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -1.16% | -1.33% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -1.32% | -2.54% | +1.22% |
Max Drawdown (10Y)Largest decline over 10 years | -9.61% | -8.12% | -1.49% |
Current DrawdownCurrent decline from peak | -0.04% | -16.75% | +16.71% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -31.19% | +31.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.31% | -0.06% |
Volatility
NEAR vs. ERNU.L - Volatility Comparison
The current volatility for iShares Short Duration Bond Active ETF (NEAR) is 0.49%, while iShares USD Ultrashort Bond UCITS ETF (ERNU.L) has a volatility of 1.70%. This indicates that NEAR 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
| NEAR | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 1.70% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 3.79% | -2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 4.38% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.35% | 4.82% | -3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 5.11% | -2.61% |
NEAR vs. ERNU.L - Expense Ratio Comparison
NEAR has a 0.25% 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
NEAR vs. ERNU.L - Dividend Comparison
NEAR's dividend yield for the trailing twelve months is around 4.43%, 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% |
NEAR iShares Short Duration Bond Active ETF | 4.43% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
NEAR and ERNU.L have a correlation of 0.12, 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 0.25% for NEAR.
NEAR is categorized as Short-Term Bond, while ERNU.L is Corporate Bonds. Their fees differ too: 0.25% for NEAR and 0.09% for ERNU.L.
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