SWLD.L vs. ERNS.L
SWLD.L (SPDR MSCI World UCITS ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - SWLD.L is a Global Equities fund tracking the MSCI ACWI NR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. SWLD.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, SWLD.L returned 12.74%/yr vs 3.64%/yr for ERNS.L. At a 0.06 correlation, their price movements are largely independent. SWLD.L charges 0.12%/yr vs 0.09%/yr for ERNS.L.
Performance
SWLD.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, SWLD.L achieves a 8.85% return, which is significantly higher than ERNS.L's 1.67% return.
SWLD.L
- 1D
- 1.57%
- 1M
- 0.34%
- YTD
- 8.85%
- 6M
- 9.40%
- 1Y
- 25.61%
- 3Y*
- 17.17%
- 5Y*
- 12.74%
- 10Y*
- —
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%
SWLD.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SWLD.L SPDR MSCI World UCITS ETF | 8.85% | 12.84% | 21.21% | 17.69% | -8.06% | 23.66% | 12.00% | -13.14% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.67% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.77% | 0.89% |
Correlation
The correlation between SWLD.L and ERNS.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2019 | 0.06 |
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Return for Risk
SWLD.L vs. ERNS.L — Risk / Return Rank
SWLD.L
ERNS.L
SWLD.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWLD.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.
| SWLD.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -6.64 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 2.41 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 19.80 | -16.00 |
| Martin ratioReturn relative to average drawdown | 14.98 | 111.29 | -96.31 |
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Drawdowns
SWLD.L vs. ERNS.L - Drawdown Comparison
The maximum SWLD.L drawdown since its inception was -32.06%, 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 SWLD.L and ERNS.L.
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Drawdown Indicators
| SWLD.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.06% | -1.51% | -30.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.56% | -0.22% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -19.94% | -0.22% | -19.72% |
Max Drawdown (5Y)Largest decline over 5 years | -19.94% | -0.36% | -19.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -1.30% | 0.00% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -0.05% | -6.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.04% | +1.63% |
Volatility
SWLD.L vs. ERNS.L - Volatility Comparison
SPDR MSCI World UCITS ETF (SWLD.L) has a higher volatility of 3.35% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.26%. This indicates that SWLD.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
| SWLD.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 0.26% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 0.67% | +6.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.33% | 0.80% | +9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 0.82% | +18.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 0.92% | +20.13% |
SWLD.L vs. ERNS.L - Expense Ratio Comparison
SWLD.L has a 0.12% 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
SWLD.L vs. ERNS.L - Dividend Comparison
SWLD.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% |
SWLD.L SPDR MSCI World UCITS ETF | 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
SWLD.L and ERNS.L have a correlation of 0.11, 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 0.12% for SWLD.L.
SWLD.L is categorized as Global Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for SWLD.L and 0.09% for ERNS.L.
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