USSC.L vs. ERNS.L
USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. USSC.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, USSC.L returned 12.01%/yr vs 1.40%/yr for ERNS.L. At a 0.22 correlation, their price movements are largely independent. USSC.L charges 0.30%/yr vs 0.09%/yr for ERNS.L.
Performance
USSC.L vs. ERNS.L - Performance Comparison
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Different Trading Currencies
USSC.L is traded in USD, while ERNS.L is traded in GBP. To make them comparable, the ERNS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, USSC.L achieves a 12.93% return, which is significantly higher than ERNS.L's 1.29% return. Over the past 10 years, USSC.L has outperformed ERNS.L with an annualized return of 12.01%, while ERNS.L has yielded a comparatively lower 1.40% annualized return.
USSC.L
- 1D
- -0.49%
- 1M
- 0.86%
- YTD
- 12.93%
- 6M
- 13.58%
- 1Y
- 35.93%
- 3Y*
- 19.32%
- 5Y*
- 9.49%
- 10Y*
- 12.01%
ERNS.L
- 1D
- -0.27%
- 1M
- -0.73%
- YTD
- 1.29%
- 6M
- 2.50%
- 1Y
- 3.71%
- 3Y*
- 7.74%
- 5Y*
- 2.52%
- 10Y*
- 1.40%
USSC.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 12.93% | 14.73% | 8.33% | 23.17% | -10.14% | 35.22% | 8.76% | 23.19% | -15.30% | 9.79% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.29% | 12.76% | 3.78% | 10.28% | -9.32% | -0.78% | 3.86% | 5.33% | -5.11% | 10.14% |
Correlation
The correlation between USSC.L and ERNS.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015 | 0.22 |
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Return for Risk
USSC.L vs. ERNS.L — Risk / Return Rank
USSC.L
ERNS.L
USSC.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.
| USSC.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.10 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 0.90 | +3.51 |
| Martin ratioReturn relative to average drawdown | 14.10 | 2.01 | +12.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USSC.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 0.55 | +1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.29 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.15 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.06 | +0.40 |
Drawdowns
USSC.L vs. ERNS.L - Drawdown Comparison
The maximum USSC.L drawdown since its inception was -48.99%, which is greater than ERNS.L's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for USSC.L and ERNS.L.
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Drawdown Indicators
| USSC.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -34.17% | -14.82% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -4.13% | -3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -27.47% | -7.89% | -19.58% |
Max Drawdown (5Y)Largest decline over 5 years | -27.47% | -24.43% | -3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -48.99% | -24.90% | -24.09% |
Current DrawdownCurrent decline from peak | -0.49% | -1.58% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -7.70% | -16.12% | +8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 1.85% | +0.69% |
Volatility
USSC.L vs. ERNS.L - Volatility Comparison
SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a higher volatility of 4.04% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 1.95%. This indicates that USSC.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
| USSC.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 1.95% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 10.08% | 5.00% | +5.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.01% | 6.73% | +9.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 8.62% | +13.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.82% | 9.41% | +13.41% |
USSC.L vs. ERNS.L - Expense Ratio Comparison
USSC.L has a 0.30% expense ratio, which is higher than ERNS.L's 0.09% expense ratio.
Dividends
USSC.L vs. ERNS.L - Dividend Comparison
USSC.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 5.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
USSC.L SPDR MSCI USA Small Cap Value Weighted 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
USSC.L and ERNS.L have a correlation of 0.24, 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 0.30% for USSC.L.
USSC.L is categorized as Small Cap Value Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for USSC.L and 0.09% for ERNS.L.
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