VAGP.L vs. ERNS.L
VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. VAGP.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, VAGP.L returned -0.24%/yr vs 3.62%/yr for ERNS.L. At a 0.12 correlation, their price movements are largely independent. VAGP.L charges 0.10%/yr vs 0.09%/yr for ERNS.L.
Performance
VAGP.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGP.L achieves a 0.19% return, which is significantly lower than ERNS.L's 1.58% return.
VAGP.L
- 1D
- 0.29%
- 1M
- 0.35%
- YTD
- 0.19%
- 6M
- 0.36%
- 1Y
- 3.24%
- 3Y*
- 3.74%
- 5Y*
- -0.24%
- 10Y*
- —
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
VAGP.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.19% | 4.96% | 2.51% | 5.84% | -13.81% | -2.03% | 5.31% | 2.30% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 0.47% |
Correlation
The correlation between VAGP.L and ERNS.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.12 |
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Return for Risk
VAGP.L vs. ERNS.L — Risk / Return Rank
VAGP.L
ERNS.L
VAGP.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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.
| VAGP.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.33 | ||
| Sortino ratioReturn per unit of downside risk | -8.10 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 2.39 | -1.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 20.38 | -19.22 |
| Martin ratioReturn relative to average drawdown | 3.41 | 108.76 | -105.35 |
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
| VAGP.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 5.30 | -4.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 4.34 | -4.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 2.23 | -2.11 |
Drawdowns
VAGP.L vs. ERNS.L - Drawdown Comparison
The maximum VAGP.L drawdown since its inception was -18.13%, 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 VAGP.L and ERNS.L.
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Drawdown Indicators
| VAGP.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -1.51% | -16.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -0.22% | -2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -4.04% | -0.22% | -3.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -0.36% | -17.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -3.76% | 0.00% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -0.05% | -6.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.04% | +0.91% |
Volatility
VAGP.L vs. ERNS.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) has a higher volatility of 1.43% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that VAGP.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
| VAGP.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 0.36% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 0.68% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 0.84% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 0.83% | +3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 0.92% | +3.58% |
VAGP.L vs. ERNS.L - Expense Ratio Comparison
VAGP.L has a 0.10% 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
VAGP.L vs. ERNS.L - Dividend Comparison
VAGP.L's dividend yield for the trailing twelve months is around 3.55%, less than ERNS.L's 5.65% yield.
| 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% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VAGP.L and ERNS.L have a correlation of 0.12, 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 0.10% for VAGP.L.
VAGP.L is categorized as Global Bonds, while ERNS.L is Ultrashort Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGP.L and 0.09% for ERNS.L.
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