R2SC.L vs. ERNS.L
R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - R2SC.L is a Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. R2SC.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, R2SC.L returned 11.46%/yr vs 2.20%/yr for ERNS.L. At a 0.03 correlation, their price movements are largely independent. R2SC.L charges 0.30%/yr vs 0.09%/yr for ERNS.L.
Performance
R2SC.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, R2SC.L achieves a 18.02% return, which is significantly higher than ERNS.L's 1.58% return. Over the past 10 years, R2SC.L has outperformed ERNS.L with an annualized return of 11.46%, while ERNS.L has yielded a comparatively lower 2.20% annualized return.
R2SC.L
- 1D
- 1.16%
- 1M
- 4.52%
- YTD
- 18.02%
- 6M
- 15.96%
- 1Y
- 42.36%
- 3Y*
- 15.55%
- 5Y*
- 7.28%
- 10Y*
- 11.46%
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
R2SC.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF | 18.02% | 4.66% | 11.86% | 12.18% | -11.55% | 15.87% | 15.73% | 20.67% | -7.45% | 4.45% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 1.27% | 0.58% | 0.57% |
Correlation
The correlation between R2SC.L and ERNS.L is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2014 | 0.03 |
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Return for Risk
R2SC.L vs. ERNS.L — Risk / Return Rank
R2SC.L
ERNS.L
R2SC.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.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.
| R2SC.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -6.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.39 | -0.98 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 20.38 | -15.49 |
| Martin ratioReturn relative to average drawdown | 14.39 | 108.76 | -94.37 |
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
| R2SC.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 5.30 | -2.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 4.34 | -3.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 2.38 | -1.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 2.23 | -1.68 |
Drawdowns
R2SC.L vs. ERNS.L - Drawdown Comparison
The maximum R2SC.L drawdown since its inception was -35.03%, 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 R2SC.L and ERNS.L.
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Drawdown Indicators
| R2SC.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.03% | -1.51% | -33.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -0.22% | -8.41% |
Max Drawdown (3Y)Largest decline over 3 years | -30.00% | -0.22% | -29.78% |
Max Drawdown (5Y)Largest decline over 5 years | -30.00% | -0.36% | -29.64% |
Max Drawdown (10Y)Largest decline over 10 years | -35.03% | -1.51% | -33.52% |
Current DrawdownCurrent decline from peak | -0.06% | 0.00% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -0.05% | -8.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 0.04% | +2.90% |
Volatility
R2SC.L vs. ERNS.L - Volatility Comparison
SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) has a higher volatility of 5.17% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that R2SC.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.
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Volatility by Period
| R2SC.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.17% | 0.36% | +4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 0.68% | +11.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.18% | 0.84% | +16.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.07% | 0.83% | +19.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.78% | 0.92% | +19.86% |
R2SC.L vs. ERNS.L - Expense Ratio Comparison
R2SC.L has a 0.30% expense ratio, which is higher than ERNS.L's 0.09% expense ratio.
Dividends
R2SC.L vs. ERNS.L - Dividend Comparison
R2SC.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% |
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF | 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
R2SC.L and ERNS.L have a correlation of 0.02, 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 0.30% for R2SC.L.
R2SC.L is categorized as Small Cap Blend Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for R2SC.L and 0.09% for ERNS.L.
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