# iShares GBP Ultrashort Bond UCITS ETF (ERNS) **Source:** https://fundology.uk/fund/erns · ISIN IE00BCRY6441 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 30/09/2026, ERNS (iShares GBP Ultrashort Bond UCITS ETF, ISIN IE00BCRY6441) closed at £100.69 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 +20.8%, or −5.6% after UK CPIH inflation. ## Summary iShares GBP Ultrashort Bond UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2013. 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 paid out to holders as cash, usually a few times a year. > **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started. Latest close: **£100.69** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | ERNS | | ISIN | IE00BCRY6441 | | Category | Leveraged & inverse | | Type | ETF | | Provider | iShares | | Tracks | Markit iBoxx GBP Liquid Investment Grade Ultrashort Index - GBP | | Income | Distributing | | Ongoing charge | 0.09% a year (£9 per £10,000) | | Fund size | £1.5bn | | Launched | 2013 | | Domicile | Ireland | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +4.16% | +0.89% | income reinvested | | 3 years | +15.49% | +4.22% | income reinvested | | 5 years | +20.82% | -5.55% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year returns Calendar-year returns of iShares GBP Ultrashort Bond UCITS ETF in pounds (price only, income paid out not included): 2022 +0.4%, 2023 +0.1%, 2024 0.0%, 2025 +0.1%; 2026 to 30/09/2026 −0.2%. Returns of iShares GBP Ultrashort Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −1.1%; to 30/09/2025: −0.2%; to 30/09/2024: +0.2%; to 30/09/2023: +1.5%; to 30/09/2022: −0.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +0.4% | -8.1% | Price | | 2023 | +0.1% | -3.9% | Price | | 2024 | -0.0% | -3.4% | Price | | 2025 | +0.1% | -3.3% | Price | | 2026 to 30/09/2026 | -0.2% | -2.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 2.84% | -2.34% | | 3 years | 3.28% | -2.73% | | 5 years | 2.71% | -2.73% | ## Largest fall Volatility of iShares GBP Ultrashort Bond UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 2.8% over 1 year, 3.3% over 3 years, 2.7% over 5 years. Largest fall in the price of iShares GBP Ultrashort Bond UCITS ETF since October 2021, in pounds: −2.7% from 31/05/2024 to 20/03/2026. The lowest 12-month return of iShares GBP Ultrashort Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −1.5% (12 months to 15/05/2026); the highest was +1.9% (12 months to 09/06/2023). On 30/09/2026 the price of iShares GBP Ultrashort Bond UCITS ETF was 2.4% below its highest weekly close since October 2021 (31/05/2024), in pounds. ## Charges compared with similar funds Ongoing charge of iShares GBP 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). ## Charges & eligibility - Ongoing charges figure (OCF): **0.09%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 29/09/2026): | Holding | Weight | |---|---| | SANTANDER UK PLC RegS | 4.36% | | LLOYDS BANK PLC RegS | 4.04% | | EUROPEAN INVESTMENT BANK MTN RegS | 3.73% | | KFW MTN RegS | 3.45% | | TSB BANK PLC RegS | 2.46% | | BANK OF NOVA SCOTIA RegS | 2.45% | | Toronto-Dominion Bank | 2.43% | | BANK OF MONTREAL RegS | 2.32% | | Asian Development Bank Mtn | 2.02% | | WESTPAC BANKING CORP RegS | 1.83% | ## Where it invests Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed. ### By sector As published by iShares, as of 29/09/2026. | Sector | Weight | |---|---| | Covered Other | 34.1% | | Supranational | 15.1% | | Mortgage Collateralized | 9.2% | | Government Guaranteed | 8.3% | | Banking | 7.2% | | Consumer Cyclical | 5.3% | | Owned No Guarantee | 4.8% | | Insurance | 3.0% | | Other sectors | 13.3% | ### By type of asset Added up from the holdings iShares publishes, as of 29/09/2026. | Type of asset | Weight | |---|---| | Bonds | 100.2% | | Cash and money market | 1.7% | All 132 holdings: https://fundology.uk/fund/erns/holdings --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.