CBSE.L vs. SEUC.L
CBSE.L (UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis) and SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) are both European Corporate Bonds funds - CBSE.L tracks the Bloomberg Euro Corp TR EUR while SEUC.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 5 years, CBSE.L returned -0.11%/yr vs 1.74%/yr for SEUC.L. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
CBSE.L vs. SEUC.L - Performance Comparison
Loading charts...
Different Trading Currencies
CBSE.L is traded in GBp, while SEUC.L is traded in EUR. To make them comparable, the SEUC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CBSE.L achieves a -0.42% return, which is significantly lower than SEUC.L's -0.19% return.
CBSE.L
- 1D
- 0.27%
- 1M
- 1.08%
- YTD
- -0.42%
- 6M
- -0.53%
- 1Y
- 4.75%
- 3Y*
- 5.05%
- 5Y*
- -0.11%
- 10Y*
- —
SEUC.L
- 1D
- 0.17%
- 1M
- 0.58%
- YTD
- -0.19%
- 6M
- -0.27%
- 1Y
- 4.67%
- 3Y*
- 3.87%
- 5Y*
- 1.74%
- 10Y*
- 1.85%
CBSE.L vs. SEUC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBSE.L UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis | -0.42% | 8.60% | -0.00% | 5.96% | -10.95% | -7.70% | 8.93% | 2.37% | -1.04% | 8.00% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | -0.19% | 8.55% | -0.52% | 2.10% | 1.44% | -6.18% | 5.89% | -4.93% | 0.45% | 3.55% |
Correlation
The correlation between CBSE.L and SEUC.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.71 |
The correlation between CBSE.L and SEUC.L has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBSE.L vs. SEUC.L — Risk / Return Rank
CBSE.L
SEUC.L
CBSE.L vs. SEUC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis (CBSE.L) and SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.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.
| CBSE.L | SEUC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 2.06 | -0.91 |
| Martin ratioReturn relative to average drawdown | 2.96 | 4.57 | -1.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CBSE.L | SEUC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.14 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.32 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.15 | +0.02 |
Drawdowns
CBSE.L vs. SEUC.L - Drawdown Comparison
The maximum CBSE.L drawdown since its inception was -24.02%, which is greater than SEUC.L's maximum drawdown of -17.58%. Use the drawdown chart below to compare losses from any high point for CBSE.L and SEUC.L.
Loading charts...
Drawdown Indicators
| CBSE.L | SEUC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.02% | -17.58% | -6.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.12% | -2.25% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -2.84% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -5.79% | -13.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.34% | — |
Current DrawdownCurrent decline from peak | -7.66% | -1.25% | -6.41% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -6.39% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.02% | +0.58% |
Volatility
CBSE.L vs. SEUC.L - Volatility Comparison
UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis (CBSE.L) has a higher volatility of 1.58% compared to SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) at 1.16%. This indicates that CBSE.L's price experiences larger fluctuations and is considered to be riskier than SEUC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CBSE.L | SEUC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.16% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 2.78% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.87% | 4.09% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.43% | 5.40% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.44% | 7.10% | +0.34% |
CBSE.L vs. SEUC.L - Expense Ratio Comparison
Both CBSE.L and SEUC.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CBSE.L vs. SEUC.L - Dividend Comparison
CBSE.L's dividend yield for the trailing twelve months is around 3.50%, more than SEUC.L's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBSE.L UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis | 3.50% | 3.72% | 3.18% | 1.80% | 0.58% | 0.59% | 0.61% | 1.03% | 1.42% | 0.48% | 0.00% | 0.00% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | 2.96% | 3.05% | 2.59% | 1.27% | 0.19% | 0.30% | 0.23% | 0.17% | 0.11% | 0.28% | 0.50% | 0.72% |
Frequently Asked Questions
CBSE.L and SEUC.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CBSE.L and SEUC.L have the same expense ratio: 0.20% per year.
CBSE.L tracks Bloomberg Euro Corp TR EUR, while SEUC.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: UBS and State Street.
Find the right allocation for CBSE.L and SEUC.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer