ROLG.L vs. ERNS.L
ROLG.L (iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - ROLG.L is a Commodities fund tracking the Bloomberg Roll Select Commodity, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. ROLG.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, ROLG.L returned 14.55%/yr vs 3.62%/yr for ERNS.L. At a correlation of -0.02, they often move in opposite directions. ROLG.L charges 0.28%/yr vs 0.09%/yr for ERNS.L.
Performance
ROLG.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, ROLG.L achieves a 27.75% return, which is significantly higher than ERNS.L's 1.58% return.
ROLG.L
- 1D
- -1.64%
- 1M
- -1.90%
- YTD
- 27.75%
- 6M
- 27.51%
- 1Y
- 44.31%
- 3Y*
- 14.24%
- 5Y*
- 14.55%
- 10Y*
- —
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%
ROLG.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ROLG.L iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD | 27.75% | 8.64% | 6.25% | -7.36% | 30.51% | 29.23% | -2.41% | 1.84% | -9.45% |
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% | 0.07% |
Correlation
The correlation between ROLG.L and ERNS.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | -0.02 |
The correlation between ROLG.L and ERNS.L shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ROLG.L vs. ERNS.L — Risk / Return Rank
ROLG.L
ERNS.L
ROLG.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.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.
| ROLG.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.65 | ||
| Sortino ratioReturn per unit of downside risk | -6.22 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 2.39 | -0.93 |
| Calmar ratioReturn relative to maximum drawdown | 6.47 | 20.38 | -13.91 |
| Martin ratioReturn relative to average drawdown | 18.28 | 108.76 | -90.48 |
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
| ROLG.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.65 | 5.30 | -2.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 4.34 | -3.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 2.23 | -1.64 |
Drawdowns
ROLG.L vs. ERNS.L - Drawdown Comparison
The maximum ROLG.L drawdown since its inception was -22.66%, 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 ROLG.L and ERNS.L.
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Drawdown Indicators
| ROLG.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.66% | -1.51% | -21.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.81% | -0.22% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -13.27% | -0.22% | -13.05% |
Max Drawdown (5Y)Largest decline over 5 years | -19.85% | -0.36% | -19.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -4.56% | 0.00% | -4.56% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -0.05% | -8.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.04% | +2.38% |
Volatility
ROLG.L vs. ERNS.L - Volatility Comparison
iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD (ROLG.L) has a higher volatility of 5.90% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that ROLG.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
| ROLG.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 0.36% | +5.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.98% | 0.68% | +13.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 0.84% | +15.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 0.83% | +16.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 0.92% | +16.06% |
ROLG.L vs. ERNS.L - Expense Ratio Comparison
ROLG.L has a 0.28% expense ratio, which is higher than ERNS.L's 0.09% expense ratio.
Dividends
ROLG.L vs. ERNS.L - Dividend Comparison
ROLG.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% |
ROLG.L iShares Bloomberg Roll Select Commodity Swap UCITS ETF USD | 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
ROLG.L and ERNS.L have a correlation of -0.13, 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 0.28% for ROLG.L.
ROLG.L is categorized as Commodities, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.28% for ROLG.L and 0.09% for ERNS.L.
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