REET vs. ERNS.L
REET (iShares Global REIT ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - REET is a REIT fund tracking the FTSE EPRA/NAREIT Global REIT Index, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. REET is passively managed, while ERNS.L is actively managed. Over the past 10 years, REET returned 4.04%/yr vs 1.52%/yr for ERNS.L. At a 0.29 correlation, their price movements are largely independent. REET charges 0.14%/yr vs 0.09%/yr for ERNS.L.
Performance
REET vs. ERNS.L - Performance Comparison
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Different Trading Currencies
REET is traded in USD, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, REET achieves a 8.47% return, which is significantly higher than ERNS.L's 0.69% return. Over the past 10 years, REET has outperformed ERNS.L with an annualized return of 4.04%, while ERNS.L has yielded a comparatively lower 1.52% annualized return.
REET
- 1D
- -0.88%
- 1M
- -1.75%
- YTD
- 8.47%
- 6M
- 9.73%
- 1Y
- 11.75%
- 3Y*
- 9.05%
- 5Y*
- 1.87%
- 10Y*
- 4.04%
ERNS.L
- 1D
- 0.03%
- 1M
- -1.75%
- YTD
- 0.69%
- 6M
- 2.14%
- 1Y
- 2.95%
- 3Y*
- 7.10%
- 5Y*
- 2.47%
- 10Y*
- 1.52%
REET vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REET iShares Global REIT ETF | 8.47% | 7.97% | 2.65% | 10.28% | -24.10% | 32.43% | -10.48% | 24.42% | -5.27% | 7.48% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 0.69% | 12.75% | 3.79% | 10.28% | -9.32% | -0.77% | 3.86% | 5.34% | -5.11% | 10.14% |
Correlation
The correlation between REET and ERNS.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014 | 0.29 |
The correlation between REET and ERNS.L shifts across timeframes, from 0.29 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
REET vs. ERNS.L — Risk / Return Rank
REET
ERNS.L
REET vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global REIT ETF (REET) 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.
| REET | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.08 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 0.71 | +0.59 |
| Martin ratioReturn relative to average drawdown | 4.68 | 1.58 | +3.10 |
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
| REET | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.44 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.29 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.16 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.05 | +0.20 |
Drawdowns
REET vs. ERNS.L - Drawdown Comparison
The maximum REET drawdown since its inception was -44.59%, which is greater than ERNS.L's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for REET and ERNS.L.
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Drawdown Indicators
| REET | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -34.17% | -10.42% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -4.13% | -4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -18.02% | -7.89% | -10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -32.11% | -24.43% | -7.68% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -24.90% | -19.69% |
Current DrawdownCurrent decline from peak | -2.46% | -2.16% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -9.78% | -16.11% | +6.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 1.86% | +0.66% |
Volatility
REET vs. ERNS.L - Volatility Comparison
iShares Global REIT ETF (REET) has a higher volatility of 3.56% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 2.02%. This indicates that REET'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
| REET | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.56% | 2.02% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 8.90% | 4.95% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 6.75% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 8.63% | +8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.85% | 9.41% | +9.44% |
REET vs. ERNS.L - Expense Ratio Comparison
REET has a 0.14% 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
REET vs. ERNS.L - Dividend Comparison
REET's dividend yield for the trailing twelve months is around 3.41%, less than ERNS.L's 5.65% yield.
| 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% |
REET iShares Global REIT ETF | 3.41% | 3.67% | 3.64% | 3.27% | 2.43% | 3.18% | 2.65% | 5.25% | 5.73% | 3.84% | 5.37% | 3.56% |
Frequently Asked Questions
REET and ERNS.L have a correlation of 0.41, 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 0.14% for REET.
REET is categorized as REIT, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.14% for REET and 0.09% for ERNS.L.
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