USDC.L vs. ERND.L
USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD Distributing) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - USDC.L is a Corporate Bonds fund tracking the L&G USD Corporate Bond Screened UCITS ETF USD Distributing, 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, USDC.L returned 0.12%/yr vs 3.83%/yr for ERND.L. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
USDC.L vs. ERND.L - Performance Comparison
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Returns By Period
In the year-to-date period, USDC.L achieves a -2.14% return, which is significantly lower than ERND.L's 2.00% return.
USDC.L
- 1D
- 0.12%
- 1M
- -0.69%
- 6M
- -2.91%
- YTD
- -2.14%
- 1Y
- 2.26%
- 3Y*
- 4.32%
- 5Y*
- 0.12%
- 10Y*
- —
ERND.L
- 1D
- -0.02%
- 1M
- 0.30%
- 6M
- 1.83%
- YTD
- 2.00%
- 1Y
- 4.19%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
USDC.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing | -2.14% | 7.42% | 3.13% | 8.35% | -13.91% | -0.43% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | -0.08% |
Correlation
The correlation between USDC.L and ERND.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 | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | 0.12 |
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Return for Risk
USDC.L vs. ERND.L — Risk / Return Rank
USDC.L
ERND.L
USDC.L vs. ERND.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.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.
| USDC.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.81 | ||
| Sortino ratioReturn per unit of downside risk | -8.42 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 2.31 | -1.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 20.61 | -20.15 |
| Martin ratioReturn relative to average drawdown | 1.07 | 101.10 | -100.03 |
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Drawdowns
USDC.L vs. ERND.L - Drawdown Comparison
The maximum USDC.L drawdown since its inception was -20.07%, 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 USDC.L and ERND.L.
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Drawdown Indicators
| USDC.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.07% | -7.48% | -12.59% |
Max Drawdown (1Y)Largest decline over 1 year | -4.92% | -0.20% | -4.72% |
Max Drawdown (3Y)Largest decline over 3 years | -4.92% | -0.64% | -4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -20.07% | -1.06% | -19.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.48% | — |
Current DrawdownCurrent decline from peak | -2.91% | -0.02% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -0.08% | -6.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 0.04% | +2.07% |
Volatility
USDC.L vs. ERND.L - Volatility Comparison
L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.L) has a higher volatility of 1.13% compared to iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) at 0.21%. This indicates that USDC.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
| USDC.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.21% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 0.66% | +4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 0.79% | +5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 1.26% | +5.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 2.08% | +4.05% |
USDC.L vs. ERND.L - Expense Ratio Comparison
Both USDC.L and ERND.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
USDC.L vs. ERND.L - Dividend Comparison
USDC.L's dividend yield for the trailing twelve months is around 2.32%, less than ERND.L's 4.31% yield.
| 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% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing | 2.32% | 4.47% | 4.08% | 3.24% | 2.36% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USDC.L and ERND.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.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
USDC.L and ERND.L have the same expense ratio: 0.09% per year.
USDC.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. USDC.L tracks L&G USD Corporate Bond Screened UCITS ETF USD Distributing, while ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). They also come from different issuers: L&G and iShares.
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