OPER vs. UESD.L
OPER (ClearShares Ultra-Short Maturity ETF) and UESD.L (iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc) are both Ultrashort Bond funds. Over the past 5 years, OPER returned 3.65%/yr vs 2.48%/yr for UESD.L. At a correlation of -0.01, they often move in opposite directions. OPER charges 0.20%/yr vs 0.09%/yr for UESD.L.
Performance
OPER vs. UESD.L - Performance Comparison
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Different Trading Currencies
OPER is traded in USD, while UESD.L is traded in GBP. To make them comparable, the UESD.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, OPER achieves a 1.55% return, which is significantly higher than UESD.L's 1.17% return.
OPER
- 1D
- 0.01%
- 1M
- 0.34%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.80%
- 5Y*
- 3.65%
- 10Y*
- —
UESD.L
- 1D
- -0.23%
- 1M
- -0.63%
- YTD
- 1.17%
- 6M
- 2.46%
- 1Y
- 3.69%
- 3Y*
- 7.72%
- 5Y*
- 2.48%
- 10Y*
- —
OPER vs. UESD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 1.55% | 4.37% | 5.34% | 5.09% | 1.76% | 0.37% | 0.31% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 1.17% | 12.96% | 3.65% | 9.99% | -9.31% | -0.72% | 18.84% |
Correlation
The correlation between OPER and UESD.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2020 | -0.01 |
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Return for Risk
OPER vs. UESD.L — Risk / Return Rank
OPER
UESD.L
OPER vs. UESD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) and iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.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.
| OPER | UESD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.90 | ||
| Sortino ratioReturn per unit of downside risk | +43.06 | ||
| Omega ratioGain probability vs. loss probability | 13.38 | 1.10 | +12.28 |
| Calmar ratioReturn relative to maximum drawdown | 61.29 | 0.88 | +60.41 |
| Martin ratioReturn relative to average drawdown | 519.55 | 1.96 | +517.58 |
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
| OPER | UESD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.45 | 0.55 | +14.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.47 | 0.29 | +11.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.28 | 0.63 | +1.65 |
Drawdowns
OPER vs. UESD.L - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum UESD.L drawdown of -24.57%. Use the drawdown chart below to compare losses from any high point for OPER and UESD.L.
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Drawdown Indicators
| OPER | UESD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -24.57% | +22.24% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -4.20% | +4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -8.03% | +7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -24.57% | +24.44% |
Current DrawdownCurrent decline from peak | 0.00% | -1.60% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -5.16% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.88% | -1.87% |
Volatility
OPER vs. UESD.L - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc (UESD.L) has a volatility of 1.70%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than UESD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPER | UESD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 1.70% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 4.92% | -4.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 6.68% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 8.64% | -8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.23% | 8.75% | -7.52% |
OPER vs. UESD.L - Expense Ratio Comparison
OPER has a 0.20% expense ratio, which is higher than UESD.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
OPER vs. UESD.L - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 4.09%, less than UESD.L's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 4.09% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% |
UESD.L iShares £ Ultrashort Bond ESG SRI UCITS ETF GBP Inc | 5.64% | 4.63% | 5.37% | 4.49% | 1.21% | 0.24% | 0.47% | 0.00% | 0.00% |
Frequently Asked Questions
OPER and UESD.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UESD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UESD.L is cheaper with a 0.09% expense ratio, compared with 0.20% for OPER.
They also come from different issuers: ClearShares and iShares. Their fees differ too: 0.20% for OPER and 0.09% for UESD.L.
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