XESE.L vs. ERNS.L
XESE.L (Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - XESE.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. XESE.L is passively managed, while ERNS.L is actively managed. Over the past 5 years, XESE.L returned 3.16%/yr vs 3.67%/yr for ERNS.L. At a 0.03 correlation, their price movements are largely independent. XESE.L charges 0.25%/yr vs 0.09%/yr for ERNS.L.
Performance
XESE.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, XESE.L achieves a 12.35% return, which is significantly higher than ERNS.L's 1.80% return.
XESE.L
- 1D
- -0.29%
- 1M
- 3.62%
- YTD
- 12.35%
- 6M
- 13.13%
- 1Y
- 28.43%
- 3Y*
- 15.76%
- 5Y*
- 3.16%
- 10Y*
- —
ERNS.L
- 1D
- 0.03%
- 1M
- 0.32%
- YTD
- 1.80%
- 6M
- 1.87%
- 1Y
- 4.33%
- 3Y*
- 5.09%
- 5Y*
- 3.67%
- 10Y*
- 2.21%
XESE.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XESE.L Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C | 12.35% | 22.03% | 12.08% | -1.92% | -11.39% | -8.77% | 17.22% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.80% | 4.84% | 5.55% | 4.76% | 1.53% | 0.14% | 0.36% |
Correlation
The correlation between XESE.L and ERNS.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2020 | 0.03 |
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Return for Risk
XESE.L vs. ERNS.L — Risk / Return Rank
XESE.L
ERNS.L
XESE.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XESE.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.
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.
| XESE.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.74 | ||
| Sortino ratioReturn per unit of downside risk | -7.80 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 2.40 | -1.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 19.85 | -17.21 |
| Martin ratioReturn relative to average drawdown | 8.09 | 111.25 | -103.16 |
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Drawdowns
XESE.L vs. ERNS.L - Drawdown Comparison
The maximum XESE.L drawdown since its inception was -37.68%, 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 XESE.L and ERNS.L.
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Drawdown Indicators
| XESE.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.68% | -1.51% | -36.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -0.22% | -10.49% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | -0.22% | -16.66% |
Max Drawdown (5Y)Largest decline over 5 years | -32.20% | -0.36% | -31.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.51% | — |
Current DrawdownCurrent decline from peak | -5.07% | 0.00% | -5.07% |
Average DrawdownAverage peak-to-trough decline | -18.30% | -0.05% | -18.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 0.04% | +3.47% |
Volatility
XESE.L vs. ERNS.L - Volatility Comparison
Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XESE.L) has a higher volatility of 8.96% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.17%. This indicates that XESE.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
| XESE.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.96% | 0.17% | +8.79% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 0.67% | +14.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 0.81% | +16.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.37% | 0.82% | +17.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.45% | 0.92% | +17.53% |
XESE.L vs. ERNS.L - Expense Ratio Comparison
XESE.L has a 0.25% 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
XESE.L vs. ERNS.L - Dividend Comparison
XESE.L has not paid dividends to shareholders, while ERNS.L's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 4.29% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
XESE.L Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C | 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
XESE.L and ERNS.L have a correlation of -0.01, 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 0.25% for XESE.L.
XESE.L is categorized as Emerging Markets Equities, while ERNS.L is Ultrashort Bond. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XESE.L and 0.09% for ERNS.L.
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