USCR.L vs. ERNA.L

Last updated Jun 5, 2026

USCR.L (SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF) and ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) are both Corporate Bonds funds - USCR.L tracks the Bloomberg US Corp Bond TR USD while ERNA.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, USCR.L returned 0.37%/yr vs 3.77%/yr for ERNA.L. At a 0.17 correlation, their price movements are largely independent. USCR.L charges 0.15%/yr vs 0.09%/yr for ERNA.L.

Performance

USCR.L vs. ERNA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) and iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USCR.L achieves a 0.18% return, which is significantly lower than ERNA.L's 1.64% return.

USCR.L

• 1D: 0.26%
• 1M: 0.46%
• YTD: 0.18%
• 6M: 0.76%
• 1Y: 5.65%
• 3Y*: 5.01%
• 5Y*: 0.37%
• 10Y*: —

ERNA.L

• 1D: 0.11%
• 1M: 0.35%
• YTD: 1.64%
• 6M: 1.95%
• 1Y: 4.36%
• 3Y*: 5.21%
• 5Y*: 3.77%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

USCR.L vs. ERNA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF	0.18%	7.70%	2.19%	8.02%	-15.48%	-1.86%	2.28%
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc)	1.64%	4.75%	5.66%	5.50%	1.46%	0.11%	0.09%

Correlation

The correlation between USCR.L and ERNA.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020	0.17

Return for Risk

USCR.L vs. ERNA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USCR.L

USCR.L Risk / Return Rank: 36
USCR.L Sharpe Ratio Rank: 34
USCR.L Sortino Ratio Rank: 34
USCR.L Omega Ratio Rank: 32
USCR.L Calmar Ratio Rank: 40
USCR.L Martin Ratio Rank: 38

ERNA.L

ERNA.L Risk / Return Rank: 98
ERNA.L Sharpe Ratio Rank: 97
ERNA.L Sortino Ratio Rank: 98
ERNA.L Omega Ratio Rank: 98
ERNA.L Calmar Ratio Rank: 99
ERNA.L Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

USCR.L vs. ERNA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) and iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.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.

	USCR.L	ERNA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	4.65	-3.45
Sortino ratio: Return per unit of downside risk	1.75	8.31	-6.55
Omega ratio: Gain probability vs. loss probability	1.21	2.31	-1.10
Calmar ratio: Return relative to maximum drawdown	1.95	21.10	-19.15
Martin ratio: Return relative to average drawdown	5.91	82.85	-76.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USCR.L vs. ERNA.L - Sharpe Ratio Comparison

The current USCR.L Sharpe Ratio is 1.20, which is lower than the ERNA.L Sharpe Ratio of 4.65. The chart below compares the historical Sharpe Ratios of USCR.L and ERNA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USCR.L	ERNA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	4.65	-3.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	4.03	-3.98
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	1.43	-1.40

Drawdowns

USCR.L vs. ERNA.L - Drawdown Comparison

The maximum USCR.L drawdown since its inception was -22.42%, which is greater than ERNA.L's maximum drawdown of -8.63%. Use the drawdown chart below to compare losses from any high point for USCR.L and ERNA.L.

Drawdown Indicators

	USCR.L	ERNA.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.42%	-8.63%	-13.79%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-0.20%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-6.13%	-0.38%	-5.75%
Max Drawdown (5Y) Largest decline over 5 years	-22.42%	-0.81%	-21.61%
Current Drawdown Current decline from peak	-1.21%	0.00%	-1.21%
Average Drawdown Average peak-to-trough decline	-8.32%	-0.10%	-8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.05%	+0.90%

Volatility

USCR.L vs. ERNA.L - Volatility Comparison

SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) has a higher volatility of 1.68% compared to iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) at 0.30%. This indicates that USCR.L's price experiences larger fluctuations and is considered to be riskier than ERNA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USCR.L	ERNA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	0.30%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	0.86%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	0.93%	+3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	0.93%	+6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.99%	2.17%	+4.82%

USCR.L vs. ERNA.L - Expense Ratio Comparison

USCR.L has a 0.15% expense ratio, which is higher than ERNA.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

USCR.L vs. ERNA.L - Dividend Comparison

Neither USCR.L nor ERNA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USCR.L and ERNA.L in my portfolio?

USCR.L and ERNA.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USCR.L or ERNA.L?

On fees, ERNA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USCR.L or ERNA.L?

ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.15% for USCR.L.

What is the main difference between USCR.L and ERNA.L?

USCR.L tracks Bloomberg US Corp Bond TR USD, while ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for USCR.L and 0.09% for ERNA.L.