SSXF.L vs. ERNE.L
SSXF.L (iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist)) and ERNE.L (iShares € Ultrashort Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - SSXF.L is a Corporate Bonds fund tracking the iBoxx Sterling Corporate Bond ex Financials Index, while ERNE.L is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 10 years, SSXF.L returned 0.31%/yr vs 1.03%/yr for ERNE.L. At a 0.10 correlation, their price movements are largely independent. SSXF.L charges 0.20%/yr vs 0.09%/yr for ERNE.L.
Performance
SSXF.L vs. ERNE.L - Performance Comparison
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Returns By Period
In the year-to-date period, SSXF.L achieves a -0.24% return, which is significantly lower than ERNE.L's 1.15% return. Over the past 10 years, SSXF.L has underperformed ERNE.L with an annualized return of 0.31%, while ERNE.L has yielded a comparatively higher 1.03% annualized return.
SSXF.L
- 1D
- -0.15%
- 1M
- 0.70%
- 6M
- 0.36%
- YTD
- -0.24%
- 1Y
- 3.15%
- 3Y*
- 5.05%
- 5Y*
- -2.18%
- 10Y*
- 0.31%
ERNE.L
- 1D
- -0.03%
- 1M
- 0.20%
- 6M
- 1.04%
- YTD
- 1.15%
- 1Y
- 2.14%
- 3Y*
- 3.26%
- 5Y*
- 2.15%
- 10Y*
- 1.03%
SSXF.L vs. ERNE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | -0.24% | 1.57% | 4.52% | 10.82% | -24.14% | 2.57% | 2.91% | 17.08% | -2.97% | -0.09% |
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 1.15% | 2.59% | 4.15% | 3.38% | -0.24% | -0.36% | 0.07% | 0.32% | -0.60% | -0.09% |
Correlation
The correlation between SSXF.L and ERNE.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.10 |
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Return for Risk
SSXF.L vs. ERNE.L — Risk / Return Rank
SSXF.L
ERNE.L
SSXF.L vs. ERNE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) and iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SSXF.L | ERNE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.19 | ||
| Sortino ratioReturn per unit of downside risk | -5.54 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.86 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 11.97 | -11.41 |
| Martin ratioReturn relative to average drawdown | 1.25 | 66.31 | -65.06 |
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Drawdowns
SSXF.L vs. ERNE.L - Drawdown Comparison
The maximum SSXF.L drawdown since its inception was -33.80%, which is greater than ERNE.L's maximum drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for SSXF.L and ERNE.L.
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Drawdown Indicators
| SSXF.L | ERNE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -3.05% | -30.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.58% | -0.18% | -6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -0.33% | -7.67% |
Max Drawdown (5Y)Largest decline over 5 years | -33.80% | -1.12% | -32.68% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | -3.05% | -30.75% |
Current DrawdownCurrent decline from peak | -12.47% | -0.03% | -12.44% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -0.28% | -8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 0.03% | +2.91% |
Volatility
SSXF.L vs. ERNE.L - Volatility Comparison
iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) has a higher volatility of 1.92% compared to iShares € Ultrashort Bond UCITS ETF EUR (Dist) (ERNE.L) at 0.20%. This indicates that SSXF.L's price experiences larger fluctuations and is considered to be riskier than ERNE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSXF.L | ERNE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 0.20% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 0.48% | +5.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.57% | 0.58% | +6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.87% | 0.60% | +9.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.83% | 0.76% | +9.07% |
SSXF.L vs. ERNE.L - Expense Ratio Comparison
SSXF.L has a 0.20% expense ratio, which is higher than ERNE.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
SSXF.L vs. ERNE.L - Dividend Comparison
SSXF.L's dividend yield for the trailing twelve months is around 2.33%, which matches ERNE.L's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNE.L iShares € Ultrashort Bond UCITS ETF EUR (Dist) | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | 2.33% | 4.34% | 3.88% | 3.14% | 3.09% | 2.23% | 2.35% | 2.55% | 2.89% | 2.90% | 3.78% | 2.01% |
Frequently Asked Questions
SSXF.L and ERNE.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNE.L is cheaper with a 0.09% expense ratio, compared with 0.20% for SSXF.L.
SSXF.L is categorized as Corporate Bonds, while ERNE.L is Ultrashort Bond. SSXF.L tracks iBoxx Sterling Corporate Bond ex Financials Index, while ERNE.L tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Their fees differ too: 0.20% for SSXF.L and 0.09% for ERNE.L.
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