PABG.L vs. ERNS.L
PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. PABG.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, PABG.L returned 9.95%/yr vs 3.62%/yr for ERNS.L. At a 0.08 correlation, their price movements are largely independent. PABG.L charges 0.20%/yr vs 0.09%/yr for ERNS.L.
Performance
PABG.L vs. ERNS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PABG.L achieves a 5.89% return, which is significantly higher than ERNS.L's 1.58% return.
PABG.L
- 1D
- 0.86%
- 1M
- 3.40%
- YTD
- 5.89%
- 6M
- 6.95%
- 1Y
- 16.55%
- 3Y*
- 16.35%
- 5Y*
- 9.95%
- 10Y*
- —
ERNS.L
- 1D
- 0.06%
- 1M
- 0.45%
- YTD
- 1.58%
- 6M
- 1.96%
- 1Y
- 4.41%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
PABG.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc | 5.89% | 27.75% | 9.01% | 19.40% | -11.91% | 18.30% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | -0.02% |
Correlation
The correlation between PABG.L and ERNS.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 | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PABG.L vs. ERNS.L — Risk / Return Rank
PABG.L
ERNS.L
PABG.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.
| PABG.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.20 | ||
| Sortino ratioReturn per unit of downside risk | -7.80 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 2.39 | -1.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 20.38 | -18.95 |
| Martin ratioReturn relative to average drawdown | 4.90 | 108.76 | -103.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PABG.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 5.30 | -4.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 4.34 | -3.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 2.23 | -1.51 |
Drawdowns
PABG.L vs. ERNS.L - Drawdown Comparison
The maximum PABG.L drawdown since its inception was -26.49%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for PABG.L and ERNS.L.
Loading charts...
Drawdown Indicators
| PABG.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.49% | -1.51% | -24.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -0.22% | -11.56% |
Max Drawdown (3Y)Largest decline over 3 years | -13.84% | -0.22% | -13.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.49% | -0.36% | -26.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -0.05% | -5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 0.04% | +3.41% |
Volatility
PABG.L vs. ERNS.L - Volatility Comparison
Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) has a higher volatility of 4.81% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that PABG.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PABG.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 0.36% | +4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 12.73% | 0.68% | +12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 0.84% | +14.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 0.83% | +16.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 0.92% | +15.81% |
PABG.L vs. ERNS.L - Expense Ratio Comparison
PABG.L has a 0.20% expense ratio, which is higher than ERNS.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
PABG.L vs. ERNS.L - Dividend Comparison
PABG.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 5.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - 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
PABG.L and ERNS.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, ERNS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L is cheaper with a 0.09% expense ratio, compared with 0.20% for PABG.L.
PABG.L is categorized as Europe Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.20% for PABG.L and 0.09% for ERNS.L.
Find the right allocation for PABG.L and ERNS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer