PUIG.L vs. ERNA.L
PUIG.L (Invesco USD Corporate Bond UCITS ETF Dist) and ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) are both Corporate Bonds funds - PUIG.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, PUIG.L returned 0.61%/yr vs 3.77%/yr for ERNA.L. At a 0.09 correlation, their price movements are largely independent. PUIG.L charges 0.10%/yr vs 0.09%/yr for ERNA.L.
Performance
PUIG.L vs. ERNA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PUIG.L achieves a 0.25% return, which is significantly lower than ERNA.L's 1.64% return.
PUIG.L
- 1D
- 0.27%
- 1M
- 0.46%
- YTD
- 0.25%
- 6M
- 0.43%
- 1Y
- 5.17%
- 3Y*
- 5.14%
- 5Y*
- 0.61%
- 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*
- —
PUIG.L vs. ERNA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PUIG.L Invesco USD Corporate Bond UCITS ETF Dist | 0.25% | 7.78% | 2.32% | 8.00% | -14.87% | -1.64% | 9.49% | 16.94% | -1.17% |
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 PUIG.L and ERNA.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.09 |
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
PUIG.L vs. ERNA.L — Risk / Return Rank
PUIG.L
ERNA.L
PUIG.L vs. ERNA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco USD Corporate Bond UCITS ETF Dist (PUIG.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.
| PUIG.L | ERNA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -6.34 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 2.31 | -1.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 21.10 | -18.65 |
| Martin ratioReturn relative to average drawdown | 6.61 | 82.85 | -76.25 |
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
| PUIG.L | ERNA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 4.65 | -3.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 4.03 | -3.92 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.43 | -0.97 |
Drawdowns
PUIG.L vs. ERNA.L - Drawdown Comparison
The maximum PUIG.L drawdown since its inception was -21.72%, 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 PUIG.L and ERNA.L.
Loading charts...
Drawdown Indicators
| PUIG.L | ERNA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.72% | -8.63% | -13.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -0.20% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -5.50% | -0.38% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -0.81% | -20.91% |
Current DrawdownCurrent decline from peak | -0.90% | 0.00% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -6.86% | -0.10% | -6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.05% | +1.00% |
Volatility
PUIG.L vs. ERNA.L - Volatility Comparison
Invesco USD Corporate Bond UCITS ETF Dist (PUIG.L) has a higher volatility of 1.73% compared to iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) at 0.30%. This indicates that PUIG.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.
Loading charts...
Volatility by Period
| PUIG.L | ERNA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 0.30% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 3.67% | 0.86% | +2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 0.93% | +4.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.78% | 0.93% | +7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.95% | 2.17% | +8.78% |
PUIG.L vs. ERNA.L - Expense Ratio Comparison
PUIG.L has a 0.10% 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
PUIG.L vs. ERNA.L - Dividend Comparison
PUIG.L's dividend yield for the trailing twelve months is around 4.92%, while ERNA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PUIG.L Invesco USD Corporate Bond UCITS ETF Dist | 4.92% | 4.83% | 4.76% | 4.03% | 2.94% | 2.33% | 2.81% | 3.15% | 3.32% |
Frequently Asked Questions
PUIG.L and ERNA.L have a correlation of 0.17, 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 0.10% for PUIG.L.
PUIG.L tracks Bloomberg US Corp Bond TR USD, while ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for PUIG.L and 0.09% for ERNA.L.
Find the right allocation for PUIG.L and ERNA.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