SGLO.L vs. ERNS.L
SGLO.L (iShares Global Government Bond UCITS ETF USD (Dist)) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - SGLO.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. SGLO.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, SGLO.L returned 0.35%/yr vs 2.20%/yr for ERNS.L. At a 0.05 correlation, their price movements are largely independent. SGLO.L charges 0.20%/yr vs 0.09%/yr for ERNS.L.
Performance
SGLO.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLO.L achieves a -0.79% return, which is significantly lower than ERNS.L's 1.58% return. Over the past 10 years, SGLO.L has underperformed ERNS.L with an annualized return of 0.35%, while ERNS.L has yielded a comparatively higher 2.20% annualized return.
SGLO.L
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- -0.79%
- 6M
- -1.34%
- 1Y
- 1.82%
- 3Y*
- -0.41%
- 5Y*
- -1.81%
- 10Y*
- 0.35%
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%
SGLO.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | -0.79% | 0.31% | -1.33% | -1.35% | -7.72% | -5.44% | 5.97% | 2.82% | 5.56% | -3.12% |
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 SGLO.L and ERNS.L is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.05 |
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Return for Risk
SGLO.L vs. ERNS.L — Risk / Return Rank
SGLO.L
ERNS.L
SGLO.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.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.
| SGLO.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.93 | ||
| Sortino ratioReturn per unit of downside risk | -8.90 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 2.39 | -1.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 20.38 | -19.93 |
| Martin ratioReturn relative to average drawdown | 0.90 | 108.76 | -107.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 5.30 | -4.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 4.34 | -4.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | 2.38 | -2.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 2.23 | -2.05 |
Drawdowns
SGLO.L vs. ERNS.L - Drawdown Comparison
The maximum SGLO.L drawdown since its inception was -25.55%, 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 SGLO.L and ERNS.L.
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Drawdown Indicators
| SGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.55% | -1.51% | -24.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -0.22% | -4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -0.22% | -5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -0.36% | -16.12% |
Max Drawdown (10Y)Largest decline over 10 years | -25.55% | -1.51% | -24.04% |
Current DrawdownCurrent decline from peak | -22.83% | 0.00% | -22.83% |
Average DrawdownAverage peak-to-trough decline | -10.09% | -0.05% | -10.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 0.04% | +2.10% |
Volatility
SGLO.L vs. ERNS.L - Volatility Comparison
iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.L) has a higher volatility of 1.24% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that SGLO.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
| SGLO.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.36% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.88% | 0.68% | +3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 0.84% | +4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 0.83% | +6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 0.92% | +7.85% |
SGLO.L vs. ERNS.L - Expense Ratio Comparison
SGLO.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
SGLO.L vs. ERNS.L - Dividend Comparison
SGLO.L's dividend yield for the trailing twelve months is around 4.16%, 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% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | 4.16% | 3.86% | 3.15% | 1.87% | 0.95% | 0.85% | 1.35% | 1.60% | 1.37% | 1.26% | 1.34% | 0.89% |
Frequently Asked Questions
SGLO.L and ERNS.L have a correlation of 0.04, 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 SGLO.L.
SGLO.L is categorized as Global Bonds, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.20% for SGLO.L and 0.09% for ERNS.L.
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