VXUS vs. ERNU.L
VXUS (Vanguard Total International Stock ETF) and ERNU.L (iShares USD Ultrashort Bond UCITS ETF) are both exchange-traded funds - VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index, while ERNU.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 10 years, VXUS returned 10.22%/yr vs 2.72%/yr for ERNU.L. At a 0.14 correlation, their price movements are largely independent. VXUS charges 0.05%/yr vs 0.09%/yr for ERNU.L.
Performance
VXUS vs. ERNU.L - Performance Comparison
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Different Trading Currencies
VXUS is traded in USD, while ERNU.L is traded in GBP. To make them comparable, the ERNU.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VXUS achieves a 13.69% return, which is significantly higher than ERNU.L's 1.54% return. Over the past 10 years, VXUS has outperformed ERNU.L with an annualized return of 10.22%, while ERNU.L has yielded a comparatively lower 2.72% annualized return.
VXUS
- 1D
- 0.40%
- 1M
- 0.78%
- YTD
- 13.69%
- 6M
- 15.52%
- 1Y
- 30.12%
- 3Y*
- 18.37%
- 5Y*
- 8.32%
- 10Y*
- 10.22%
ERNU.L
- 1D
- -0.76%
- 1M
- 0.11%
- YTD
- 1.54%
- 6M
- 1.64%
- 1Y
- 3.89%
- 3Y*
- 5.07%
- 5Y*
- 3.72%
- 10Y*
- 2.72%
VXUS vs. ERNU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VXUS Vanguard Total International Stock ETF | 13.69% | 32.35% | 5.08% | 15.86% | -16.08% | 8.98% | 10.66% | 21.75% | -14.43% | 27.46% |
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 1.54% | 4.92% | 5.60% | 4.92% | 1.31% | 0.61% | 0.84% | 3.84% | 1.87% | 1.20% |
Correlation
The correlation between VXUS and ERNU.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 | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013 | 0.14 |
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Return for Risk
VXUS vs. ERNU.L — Risk / Return Rank
VXUS
ERNU.L
VXUS vs. ERNU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) and iShares USD Ultrashort Bond UCITS ETF (ERNU.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.
| VXUS | ERNU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.16 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 4.08 | -1.55 |
| Martin ratioReturn relative to average drawdown | 9.72 | 13.30 | -3.58 |
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Drawdowns
VXUS vs. ERNU.L - Drawdown Comparison
The maximum VXUS drawdown since its inception was -35.97%, roughly equal to the maximum ERNU.L drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for VXUS and ERNU.L.
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Drawdown Indicators
| VXUS | ERNU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.97% | -37.72% | +1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -11.27% | -0.95% | -10.32% |
Max Drawdown (3Y)Largest decline over 3 years | -13.58% | -1.00% | -12.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | -2.54% | -26.90% |
Max Drawdown (10Y)Largest decline over 10 years | -35.97% | -8.12% | -27.85% |
Current DrawdownCurrent decline from peak | -1.47% | -17.02% | +15.55% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -31.23% | +23.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 0.29% | +2.64% |
Volatility
VXUS vs. ERNU.L - Volatility Comparison
Vanguard Total International Stock ETF (VXUS) has a higher volatility of 6.71% compared to iShares USD Ultrashort Bond UCITS ETF (ERNU.L) at 1.71%. This indicates that VXUS's price experiences larger fluctuations and is considered to be riskier than ERNU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VXUS | ERNU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 1.71% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.02% | 3.74% | +10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 4.39% | +11.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 4.82% | +11.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 5.11% | +12.09% |
VXUS vs. ERNU.L - Expense Ratio Comparison
VXUS has a 0.05% expense ratio, which is lower than ERNU.L's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VXUS vs. ERNU.L - Dividend Comparison
VXUS's dividend yield for the trailing twelve months is around 2.67%, less than ERNU.L's 3.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNU.L iShares USD Ultrashort Bond UCITS ETF | 3.29% | 4.68% | 5.46% | 4.99% | 1.56% | 0.48% | 1.65% | 2.77% | 2.17% | 1.43% | 0.93% | 0.70% |
VXUS Vanguard Total International Stock ETF | 2.67% | 3.18% | 3.37% | 3.24% | 3.09% | 3.10% | 2.14% | 3.06% | 3.18% | 2.73% | 2.93% | 2.83% |
Frequently Asked Questions
VXUS and ERNU.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.
On fees, VXUS is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VXUS is cheaper with a 0.05% expense ratio, compared with 0.09% for ERNU.L.
VXUS is categorized as Global Equities, while ERNU.L is Corporate Bonds. VXUS tracks FTSE Global All Cap ex US Index, while ERNU.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VXUS and 0.09% for ERNU.L.
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