ETF · iShares
ERNA iShares USD Ultrashort Bond UCITS ETF
ISIN IE00BGCSB447London Stock Exchange: ERNABlackRock, Inc.
- Leveraged & inverse
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE$6.44
on
- Ongoing charge
- 0.09% a year
- Fund size
- £1.3bn
Source: TradingView, as of , at least 15 min delayed
At a glance
As of 30/09/2026, ERNA (iShares USD Ultrashort Bond UCITS ETF, ISIN IE00BGCSB447) closed at $6.44 on the London Stock Exchange. Its ongoing charge is 0.09% a year (about £9 on £10,000). Over the five years to 30/09/2026 its total return was +23.1%, or −3.8% after UK CPIH inflation.
Past returns
- 1 year to 30/09/2026
- +5.1%
- +1.8% after inflation (UK CPIH)
- 3 years to 30/09/2026
- +6.5%
- −3.9% after inflation (UK CPIH)
- 5 years to 30/09/2026
- +23.1%
- −3.8% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,231 on 30/09/2026 — about £962 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares USD Ultrashort Bond UCITS ETF in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −0.2%, 2024 +6.9%, 2025 −2.7%; 2026 to 30/09/2026 +4.5%. Returns of iShares USD Ultrashort Bond UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +4.4%; to 30/09/2025: +5.1%; to 30/09/2024: −2.9%; to 30/09/2023: −5.4%; to 30/09/2022: +24.0%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +4.5% | +1.6% | |
| −2.7% | −6.0% | ||
| +6.9% | +3.3% | ||
| −0.2% | −4.2% | ||
| +13.7% | +4.1% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +4.4% | Not available |
| from | +5.1% | +1.0% |
| from | −2.9% | −5.4% |
| from | −5.4% | −11.0% |
| from | +24.0% | +14.0% |
Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , inflation: ONS CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
7.6%over 5 years
| 1 year | 5.8% |
|---|---|
| 3 years | 6.2% |
| 5 years | 7.6% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since October 2021
- −12.6%
- From to
- Lowest 12-month return
- −5.8%
- 12 months to
- Highest 12-month return
- +24.6%
- 12 months to
- Below its highest weekly close since October 2021
- 1.6%
- High of , latest
In words: Volatility of iShares USD Ultrashort Bond UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 5.8% over 1 year, 6.2% over 3 years, 7.6% over 5 years. Largest fall in the price of iShares USD Ultrashort Bond UCITS ETF since October 2021, in pounds: −12.6% from 30/09/2022 to 14/07/2023. The lowest 12-month return of iShares USD Ultrashort Bond UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −5.8% (12 months to 14/07/2023); the highest was +24.6% (12 months to 21/10/2022). On 30/09/2026 the price of iShares USD Ultrashort Bond UCITS ETF was 1.6% below its highest weekly close since October 2021 (17/01/2025), in pounds.
Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.09%
- a year
- On £10,000
- £9
- a year, roughly
- Over five years
- £45
- of £10,000, before growth
- 48 charge less
- 5 the same
- 227 charge more
Ongoing charge of iShares USD Ultrashort Bond UCITS ETF 0.09% a year, as of 01/10/2026: 227 of the 280 other leveraged and inverse products charge more, 5 the same and 48 less (share classes counted once).
Source: Fund ongoing charges via TradingView, as of
A lower charge is not a promise of a higher return: what the fund holds matters more. Charges are the fund’s own published ongoing charges figure.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares USD Ultrashort Bond UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2018.
It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.09% a year — about £9 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Leveraged & inverse: Products that multiply or reverse a single day’s move — for example three times the daily change of an index.
Terms:ETFIndex fundUCITSAccumulating or incomeLeveraged ETPsShare classISIN
Key facts
- Ticker
- ERNA
- ISIN
- IE00BGCSB447
- Provider
- iShares
- Tracks
- Markit iBoxx USD Liquid Investment Grade Ultrashort Index
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.09% a year · about £9 on £10,000
- Fund size
- £1.3bn
- Launched
- Domicile
- Ireland
- Can be held in
- ISA and SIPP
- Currency hedged
- No
- Price currency
- USD
- Category
- Leveraged & inverse
Price chart
Since 31/07/2026, the closing price went from $6.41 on 31/07/2026 to $6.44 on 30/09/2026 (+0.5%). The lowest close shown was $6.41 on 31/07/2026 and the highest $6.44 on 25/09/2026.
Chart: closing prices we have recorded since 31/07/2026.
Source: TradingView, as of , at least 15 min delayed
Five years of prices, and after inflation
10 weekly closes, from 31/07/2026 to 30/09/2026. The same history in September 2026 pounds, adjusted with ONS CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Blk Ics USD Leaf Agency Dist | 4.16% |
| 2 | Toyota Motor7203 | 1.86% |
| 3 | AmazonAMZN | 1.33% |
| 4 | Toronto-Dominion BankTD | 1.23% |
| 5 | Ford Motor Credit Company LLC | 1.00% |
| 6 | John Deere Capital Corp Mtn | 0.96% |
| 7 | General MotorsGM | 0.93% |
| 8 | Goldman Sachs Group Inc/The | 0.90% |
| 9 | AppleAAPL | 0.88% |
| 10 | AT&TT | 0.80% |
Source: iShares, holdings as published, as of , company pages by TradingView
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.
By sector
- Banking31.3%
- Consumer Cyclical12.6%
- Health Care7.2%
- Capital Goods6.6%
- Insurance5.1%
- Consumer Non-Cyclical4.5%
- Communication Services4.3%
- Energy4.2%
- Other sectors24.4%
By type of asset
- Bonds96.3%
- Cash and money market4.2%
519 holdings are listed for this fund. All 519 holdings of ERNA, with the full split by sector, country and type of asset.
More of the portfolio
The fund publishes 519 holdings; the ten largest make up 14.1% of it. The fund's portfolio is also split by currency, maturity and credit quality.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 248 rolling 12-month returns since January 2021, and of 144 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since October 2021, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Questions people ask
What is the ongoing charge of ERNA?
The ongoing charge of ERNA is 0.09% a year — about £9 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares USD Ultrashort Bond UCITS ETF 0.09% a year, as of 01/10/2026: 227 of the 280 other leveraged and inverse products charge more, 5 the same and 48 less (share classes counted once).
What does ERNA track?
ERNA tracks the Markit iBoxx USD Liquid Investment Grade Ultrashort Index.
Is ERNA accumulating or distributing?
ERNA is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of ERNA?
The ISIN of ERNA is IE00BGCSB447. An ISIN identifies one exact share class of a fund; ERNA is its ticker on the London Stock Exchange.
What were ERNA’s returns in each of the last five years?
Calendar-year returns of ERNA in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −0.2%, 2024 +6.9%, 2025 −2.7%; 2026 to 30/09/2026 +4.5%. Past performance is not a guide to future returns.
How has ERNA done after inflation?
Over the five years to 30/09/2026 ERNA’s total return was +23.1%, or −3.8% after UK CPIH inflation. Past performance is not a guide to future returns.
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Sources and dates
- Prices
- London Stock Exchange closes via TradingView, at least 15 minutes delayed, latest
- Returns
- TradingView reported returns (net asset value with income reinvested where available)
- Calendar years, risk
- Fundology, from recorded closes (weekly history from the data vendor where our record is short)
- Inflation
- ONS CPIH, latest month used August 2026
- Charges
- The fund’s ongoing charges figure, via TradingView
- Holdings
- iShares, as published,
- Identity
- FCA Financial Instruments Reference Data System (FIRDS) and the issuer
- Fund size
- TradingView, converted to pounds at the latest ECB reference rate
Methodology:Data sourcesReturnsCategoriesAll methods
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