ETF · iShares
ERNU iShares USD Ultrashort Bond UCITS ETF
ISIN IE00BCRY6227London Stock Exchange: ERNUBlackRock, Inc.
- Cash-like & short-term
- ETF
- ISA
- SIPP
- Distributing
Latest close
LSE£75.66
on
- Ongoing charge
- 0.09% a year
- Fund size
- £494m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, ERNU (iShares USD Ultrashort Bond UCITS ETF, ISIN IE00BCRY6227) closed at £75.66 on the London Stock Exchange. Its ongoing charge is 0.09% a year (about £9 on £10,000). Over the five years to 13/11/2026 its total return was +24.2%, or −3.1% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +2.6%
- −1.1% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +5.7%
- −4.5% after inflation (UK CPIH)
- 5 years to 13/11/2026
- +24.2%
- −3.1% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,242 on 13/11/2026 — about £969 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK 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 only, income paid out not included): 2022 +11.7%, 2023 −5.1%, 2024 +2.8%, 2025 −8.1%; 2026 to 13/11/2026 +2.2%. Returns of iShares USD Ultrashort Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −0.1%; to 30/09/2025: −0.8%; to 30/09/2024: −8.6%; to 30/09/2023: −7.4%; to 30/09/2022: +21.0%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +2.2% | −1.0% | |
| to | −8.1% | −11.2% | |
| to | +2.8% | −0.7% | |
| −5.1% | −8.9% | ||
| +11.7% | +2.2% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −0.1% | −3.6% |
| from | −0.8% | −4.7% |
| from | −8.6% | −10.9% |
| from | −7.4% | −12.9% |
| from | +21.0% | +11.2% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
8.1%over 5 years
| 1 year | 6.0% |
|---|---|
| 3 years | 7.1% |
| 5 years | 8.1% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −20.1%
- From to
- Lowest 12-month return
- −9.6%
- 12 months to
- Highest 12-month return
- +24.4%
- 12 months to
- Below its highest weekly close since November 2021
- 16.9%
- High of , latest
In words: Volatility of iShares USD Ultrashort Bond UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 6.0% over 1 year, 7.1% over 3 years, 8.1% over 5 years. Largest fall in the price of iShares USD Ultrashort Bond UCITS ETF since November 2021, in pounds: −20.1% from 23/09/2022 to 27/06/2025. The lowest 12-month return of iShares USD Ultrashort Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −9.6% (12 months to 22/09/2023); the highest was +24.4% (12 months to 23/09/2022). On 13/11/2026 the price of iShares USD Ultrashort Bond UCITS ETF was 16.9% below its highest weekly close since November 2021 (23/09/2022), in pounds.
As of , price only — income paid out is not included
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
- 12 charge less
- 5 the same
- 26 charge more
Ongoing charge of iShares USD Ultrashort Bond UCITS ETF 0.09% a year. Compared on 14/11/2026, 26 of the 43 other cash-like and short-term funds charge more, 5 the same and 12 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
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 2013.
It tracks the iBoxx USD Liquid Investment Grade Ultrashort Index - USD - Benchmark TR Gross.
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.
Cash-like & short-term: Very short-term loans and money-market funds that aim to follow interest rates with little price movement.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- ERNU
- ISIN
- IE00BCRY6227
- Also listed as
- ERND (London Stock Exchange, US dollars), IS3L (Xetra, euros)
- Provider
- iShares
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid semi-annual
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.09% a year · about £9 on £10,000
- Fund size
- £494m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Cash-like & short-term
Price chart
Over the last year, the closing price went from £77.14 on 14/11/2025 to £75.66 on 13/11/2026 (−1.9%). The lowest close shown was £73.02 on 30/01/2026 and the highest £77.57 on 21/11/2025.
One close a week. Before 18/09/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
262 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with 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
- Holdings
- 882
- 885 reported in all
- Ten largest
- 6.8%
- of the whole fund
- Effective number of holdings
- 417
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 3.2%
- Blk Ics USD Leaf Agency Dist
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Blk Ics USD Leaf Agency DistCash and derivatives | 3.18% |
| 2 | T-Mobile USA Inc 3.75% 15/04/2027Communication Services | 0.49% |
| 3 | Microsoft Corporation 3.30% 06/02/2027Other | 0.48% |
| 4 | Amazon.Com Inc 3.15% 22/08/2027Consumer Cyclical | 0.47% |
| 5 | Abbvie Inc 2.95% 21/11/2026Health Care | 0.40% |
| 6 | Citigroup Inc 4.45% 29/09/2027Banking | 0.38% |
| 7 | Meta Platforms Inc Mtn 3.50% 15/08/2027Communication Services | 0.38% |
| 8 | Wells Fargo & Company Mtn 4.30% 22/07/2027Banking | 0.37% |
| 9 | Apple Inc 3.20% 11/05/2027Other | 0.35% |
| 10 | Goldman Sachs Group Inc/The 3.85% 26/01/2027Banking | 0.35% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Banking30.5%
- Consumer Cyclical13.5%
- Health Care7.6%
- Capital Goods6.4%
- Insurance5.4%
- Electric4.4%
- Consumer Non-Cyclical4.4%
- Energy4.2%
- Other sectors23.5%
By type of asset
- Bonds96.8%
- Cash and money market3.2%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
More of the portfolio
The fund publishes 885 holdings; the ten largest make up 6.8% 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
Funds tracking the same index
2 funds track iBoxx USD Liquid Investment Grade Ultrashort Index - USD - Benchmark TR Gross, this one included and share classes counted once; their ongoing charges range from 0.09% to 0.09% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares USD Ultrashort Bond UCITS ETFThis fundDistributing · 0.09% a year | 0.09% | +2.6% | +5.7% | +24.2% |
| iShares USD Ultrashort Bond UCITS ETF AccAccumulating · 0.09% a year | 0.09% | +3.5% | +6.8% | +23.7% |
As of
iBoxx USD Liquid Investment Grade Ultrashort funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
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 254 rolling 12-month returns since January 2021, and of 150 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 November 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 ERNU?
The ongoing charge of ERNU 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. Compared on 14/11/2026, 26 of the 43 other cash-like and short-term funds charge more, 5 the same and 12 less (share classes counted once).
What does ERNU track?
ERNU tracks the iBoxx USD Liquid Investment Grade Ultrashort Index - USD - Benchmark TR Gross.
Is ERNU accumulating or distributing?
ERNU is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.
What is the ISIN of ERNU?
The ISIN of ERNU is IE00BCRY6227. An ISIN identifies one exact share class of a fund; ERNU is its ticker on the London Stock Exchange. The same share class is also listed as ERND (London Stock Exchange, US dollars) and IS3L (Xetra, euros).
What does ERNU hold?
As of 06/11/2026, ERNU holds 885 positions, according to its published holdings. The largest is Blk Ics USD Leaf Agency Dist at 3.18% of the fund; the ten largest make up 6.8%. Its ten largest holdings are Blk Ics USD Leaf Agency Dist (3.18%), T-Mobile USA Inc 3.75% 15/04/2027 (0.49%), Microsoft Corporation 3.30% 06/02/2027 (0.48%), Amazon.Com Inc 3.15% 22/08/2027 (0.47%), Abbvie Inc 2.95% 21/11/2026 (0.40%), Citigroup Inc 4.45% 29/09/2027 (0.38%), Meta Platforms Inc Mtn 3.50% 15/08/2027 (0.38%), Wells Fargo & Company Mtn 4.30% 22/07/2027 (0.37%), Apple Inc 3.20% 11/05/2027 (0.35%) and Goldman Sachs Group Inc/The 3.85% 26/01/2027 (0.35%).
What were ERNU’s returns in each of the last five years?
Calendar-year returns of ERNU in pounds (price only, income paid out not included): 2022 +11.7%, 2023 −5.1%, 2024 +2.8%, 2025 −8.1%; 2026 to 13/11/2026 +2.2%. Past performance is not a guide to future returns.
How has ERNU done after inflation?
Over the five years to 13/11/2026 ERNU’s total return was +24.2%, or −3.1% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at iShares · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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