SWDA.L vs. ERNS.L
SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - SWDA.L is a Global Equities fund tracking the MSCI World Index, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. SWDA.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, SWDA.L returned 13.92%/yr vs 2.21%/yr for ERNS.L. At a 0.05 correlation, their price movements are largely independent. SWDA.L charges 0.20%/yr vs 0.09%/yr for ERNS.L.
Performance
SWDA.L vs. ERNS.L - Performance Comparison
Loading charts...
Different Trading Currencies
SWDA.L is traded in GBp, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SWDA.L achieves a 8.84% return, which is significantly higher than ERNS.L's 1.67% return. Over the past 10 years, SWDA.L has outperformed ERNS.L with an annualized return of 13.92%, while ERNS.L has yielded a comparatively lower 2.21% annualized return.
SWDA.L
- 1D
- 1.55%
- 1M
- 0.30%
- YTD
- 8.84%
- 6M
- 9.32%
- 1Y
- 25.52%
- 3Y*
- 17.08%
- 5Y*
- 12.61%
- 10Y*
- 13.92%
ERNS.L
- 1D
- 0.03%
- 1M
- 0.34%
- YTD
- 1.67%
- 6M
- 1.95%
- 1Y
- 4.33%
- 3Y*
- 5.10%
- 5Y*
- 3.64%
- 10Y*
- 2.21%
SWDA.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 8.84% | 12.64% | 21.11% | 17.59% | -8.33% | 23.64% | 12.25% | 23.03% | -3.78% | 11.78% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.77% | 1.28% | 0.58% | 0.57% |
Correlation
The correlation between SWDA.L and ERNS.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.05 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SWDA.L vs. ERNS.L — Risk / Return Rank
SWDA.L
ERNS.L
SWDA.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.
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.
| SWDA.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -6.66 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 2.41 | -0.96 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 19.80 | -16.00 |
| Martin ratioReturn relative to average drawdown | 14.90 | 111.29 | -96.39 |
Loading charts...
Drawdowns
SWDA.L vs. ERNS.L - Drawdown Comparison
The maximum SWDA.L drawdown since its inception was -41.70%, 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 SWDA.L and ERNS.L.
Loading charts...
Drawdown Indicators
| SWDA.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.70% | -1.51% | -40.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -0.22% | -6.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -0.22% | -18.28% |
Max Drawdown (5Y)Largest decline over 5 years | -18.50% | -0.36% | -18.14% |
Max Drawdown (10Y)Largest decline over 10 years | -25.58% | -1.51% | -24.07% |
Current DrawdownCurrent decline from peak | -1.23% | 0.00% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -0.05% | -9.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.04% | +1.63% |
Volatility
SWDA.L vs. ERNS.L - Volatility Comparison
iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) has a higher volatility of 3.28% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.26%. This indicates that SWDA.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.
Loading charts...
Volatility by Period
| SWDA.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 0.26% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 0.67% | +6.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 0.80% | +9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.34% | 0.82% | +12.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.58% | 0.92% | +13.66% |
SWDA.L vs. ERNS.L - Expense Ratio Comparison
SWDA.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
SWDA.L vs. ERNS.L - Dividend Comparison
SWDA.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 3.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 3.24% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 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
SWDA.L and ERNS.L have a correlation of 0.12, 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 SWDA.L.
SWDA.L is categorized as Global Equities, while ERNS.L is Ultrashort Bond. Their fees differ too: 0.20% for SWDA.L and 0.09% for ERNS.L.
Find the right allocation for SWDA.L and ERNS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer