USCR.L vs. ERND.L
USCR.L (SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - USCR.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). Both are passively managed. Over the past 5 years, USCR.L returned -0.13%/yr vs 3.83%/yr for ERND.L. At a 0.12 correlation, their price movements are largely independent. USCR.L charges 0.15%/yr vs 0.09%/yr for ERND.L.
Performance
USCR.L vs. ERND.L - Performance Comparison
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Returns By Period
In the year-to-date period, USCR.L achieves a -0.36% return, which is significantly lower than ERND.L's 2.00% return.
USCR.L
- 1D
- 0.00%
- 1M
- -0.85%
- 6M
- -0.36%
- YTD
- -0.36%
- 1Y
- 4.65%
- 3Y*
- 4.70%
- 5Y*
- -0.13%
- 10Y*
- —
ERND.L
- 1D
- -0.02%
- 1M
- 0.22%
- 6M
- 1.84%
- YTD
- 2.00%
- 1Y
- 4.13%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
USCR.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF | -0.36% | 7.70% | 2.20% | 8.01% | -15.77% | -1.52% | 3.10% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 0.09% |
Correlation
The correlation between USCR.L and ERND.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2020 | 0.12 |
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Return for Risk
USCR.L vs. ERND.L — Risk / Return Rank
USCR.L
ERND.L
USCR.L vs. ERND.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 $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.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.
| USCR.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.21 | ||
| Sortino ratioReturn per unit of downside risk | -7.51 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 2.31 | -1.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 20.61 | -19.01 |
| Martin ratioReturn relative to average drawdown | 4.56 | 101.10 | -96.54 |
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Drawdowns
USCR.L vs. ERND.L - Drawdown Comparison
The maximum USCR.L drawdown since its inception was -22.42%, which is greater than ERND.L's maximum drawdown of -7.48%. Use the drawdown chart below to compare losses from any high point for USCR.L and ERND.L.
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Drawdown Indicators
| USCR.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.42% | -7.48% | -14.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -0.20% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -0.64% | -5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.42% | -1.06% | -21.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.48% | — |
Current DrawdownCurrent decline from peak | -1.75% | -0.02% | -1.73% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -0.08% | -8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.04% | +0.98% |
Volatility
USCR.L vs. ERND.L - Volatility Comparison
SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (USCR.L) has a higher volatility of 1.24% compared to iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) at 0.21%. This indicates that USCR.L's price experiences larger fluctuations and is considered to be riskier than ERND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USCR.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.21% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 0.66% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.74% | 0.79% | +3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 1.26% | +5.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 2.08% | +4.88% |
USCR.L vs. ERND.L - Expense Ratio Comparison
USCR.L has a 0.15% expense ratio, which is higher than ERND.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. ERND.L - Dividend Comparison
USCR.L has not paid dividends to shareholders, while ERND.L's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
USCR.L SPDR Bloomberg SASB U.S. Corporate ESG 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
USCR.L and ERND.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERND.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERND.L is cheaper with a 0.09% expense ratio, compared with 0.15% for USCR.L.
USCR.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. USCR.L tracks Bloomberg US Corp Bond TR USD, while ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for USCR.L and 0.09% for ERND.L.
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