VAGU.L vs. ERNA.L
VAGU.L (Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating) and ERNA.L (iShares USD Ultrashort Bond UCITS ETF USD (Acc)) are both exchange-traded funds - VAGU.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg USD, while ERNA.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, VAGU.L returned 0.31%/yr vs 3.77%/yr for ERNA.L. At a 0.19 correlation, their price movements are largely independent. VAGU.L charges 0.10%/yr vs 0.09%/yr for ERNA.L.
Performance
VAGU.L vs. ERNA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VAGU.L achieves a 0.41% return, which is significantly lower than ERNA.L's 1.64% return.
VAGU.L
- 1D
- 0.20%
- 1M
- 0.00%
- YTD
- 0.41%
- 6M
- 0.76%
- 1Y
- 3.68%
- 3Y*
- 4.10%
- 5Y*
- 0.31%
- 10Y*
- —
ERNA.L
- 1D
- 0.11%
- 1M
- 0.46%
- YTD
- 1.64%
- 6M
- 1.99%
- 1Y
- 4.39%
- 3Y*
- 5.21%
- 5Y*
- 3.77%
- 10Y*
- —
VAGU.L vs. ERNA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGU.L Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating | 0.41% | 4.94% | 2.73% | 6.90% | -12.61% | -2.00% | 5.90% | 2.39% |
ERNA.L iShares USD Ultrashort Bond UCITS ETF USD (Acc) | 1.64% | 4.75% | 5.66% | 5.50% | 1.46% | 0.11% | 1.27% | 1.31% |
Correlation
The correlation between VAGU.L and ERNA.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.19 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VAGU.L vs. ERNA.L — Risk / Return Rank
VAGU.L
ERNA.L
VAGU.L vs. ERNA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.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.
| VAGU.L | ERNA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.68 | ||
| Sortino ratioReturn per unit of downside risk | -6.82 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 2.31 | -1.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 21.10 | -19.84 |
| Martin ratioReturn relative to average drawdown | 3.55 | 82.85 | -79.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VAGU.L | ERNA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 4.65 | -3.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 4.03 | -3.97 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 1.43 | -1.21 |
Drawdowns
VAGU.L vs. ERNA.L - Drawdown Comparison
The maximum VAGU.L drawdown since its inception was -17.42%, 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 VAGU.L and ERNA.L.
Loading charts...
Drawdown Indicators
| VAGU.L | ERNA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.42% | -8.63% | -8.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -0.20% | -2.50% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -0.38% | -3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -17.10% | -0.81% | -16.29% |
Current DrawdownCurrent decline from peak | -1.33% | 0.00% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -0.10% | -5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.05% | +0.91% |
Volatility
VAGU.L vs. ERNA.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) has a higher volatility of 1.41% compared to iShares USD Ultrashort Bond UCITS ETF USD (Acc) (ERNA.L) at 0.30%. This indicates that VAGU.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.
Loading charts...
Volatility by Period
| VAGU.L | ERNA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.30% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 0.86% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 0.93% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 0.93% | +4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 2.17% | +2.56% |
VAGU.L vs. ERNA.L - Expense Ratio Comparison
VAGU.L has a 0.10% 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
VAGU.L vs. ERNA.L - Dividend Comparison
Neither VAGU.L nor ERNA.L has paid dividends to shareholders.
Frequently Asked Questions
VAGU.L and ERNA.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ERNA.L is cheaper with a 0.09% expense ratio, compared with 0.10% for VAGU.L.
VAGU.L is categorized as Global Bonds, while ERNA.L is Corporate Bonds. VAGU.L tracks Bloomberg Global Aggregate TR Hdg USD, while ERNA.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGU.L and 0.09% for ERNA.L.
Find the right allocation for VAGU.L and ERNA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer