CBSE.L vs. SUKC.L
CBSE.L (UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis) and SUKC.L (SPDR Bloomberg 0-5 Year Sterling Corporate Bond UCITS ETF) are both European Corporate Bonds funds - CBSE.L tracks the Bloomberg Euro Corp TR EUR while SUKC.L tracks the Markit iBoxx GBP NonGilts 1-5 TR. Both are passively managed. Over the past 5 years, CBSE.L returned 0.03%/yr vs 2.57%/yr for SUKC.L. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
CBSE.L vs. SUKC.L - Performance Comparison
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Different Trading Currencies
CBSE.L is traded in GBp, while SUKC.L is traded in GBP. To make them comparable, the SUKC.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 -0.05% return, which is significantly lower than SUKC.L's 1.35% return.
CBSE.L
- 1D
- 0.20%
- 1M
- 0.42%
- YTD
- -0.05%
- 6M
- 0.24%
- 1Y
- 3.59%
- 3Y*
- 5.42%
- 5Y*
- 0.03%
- 10Y*
- —
SUKC.L
- 1D
- -0.10%
- 1M
- 0.58%
- YTD
- 1.35%
- 6M
- 1.72%
- 1Y
- 4.59%
- 3Y*
- 6.73%
- 5Y*
- 2.57%
- 10Y*
- 2.42%
CBSE.L vs. SUKC.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 | -0.05% | 8.60% | -0.01% | 5.96% | -10.95% | -7.70% | 8.93% | 2.37% | -1.04% | -7.75% |
SUKC.L SPDR Bloomberg 0-5 Year Sterling Corporate Bond UCITS ETF | 1.35% | 6.37% | 4.84% | 7.17% | -5.78% | -0.79% | 3.08% | 4.66% | -0.45% | 1.83% |
Correlation
The correlation between CBSE.L and SUKC.L is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2017 | 0.31 |
Over the past year, the correlation between CBSE.L and SUKC.L has dropped to 0.10 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
CBSE.L vs. SUKC.L — Risk / Return Rank
CBSE.L
SUKC.L
CBSE.L vs. SUKC.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 0-5 Year Sterling Corporate Bond UCITS ETF (SUKC.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.
| CBSE.L | SUKC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.15 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.21 | -1.34 |
| Martin ratioReturn relative to average drawdown | 2.13 | 5.26 | -3.13 |
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Drawdowns
CBSE.L vs. SUKC.L - Drawdown Comparison
The maximum CBSE.L drawdown since its inception was -24.02%, which is greater than SUKC.L's maximum drawdown of -11.60%. Use the drawdown chart below to compare losses from any high point for CBSE.L and SUKC.L.
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Drawdown Indicators
| CBSE.L | SUKC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.02% | -11.60% | -12.42% |
Max Drawdown (1Y)Largest decline over 1 year | -4.12% | -2.07% | -2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -2.07% | -2.05% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -11.60% | -7.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.60% | — |
Current DrawdownCurrent decline from peak | -7.32% | -0.10% | -7.22% |
Average DrawdownAverage peak-to-trough decline | -11.05% | -1.30% | -9.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.87% | +0.81% |
Volatility
CBSE.L vs. SUKC.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 1.26% compared to SPDR Bloomberg 0-5 Year Sterling Corporate Bond UCITS ETF (SUKC.L) at 1.03%. This indicates that CBSE.L's price experiences larger fluctuations and is considered to be riskier than SUKC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBSE.L | SUKC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.03% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.76% | 3.74% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.78% | 6.09% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 4.55% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 4.52% | +4.17% |
CBSE.L vs. SUKC.L - Expense Ratio Comparison
Both CBSE.L and SUKC.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. SUKC.L - Dividend Comparison
CBSE.L's dividend yield for the trailing twelve months is around 3.49%, less than SUKC.L's 4.66% 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 | 3.49% | 3.72% | 3.18% | 1.80% | 0.58% | 0.59% | 0.61% | 1.03% | 1.42% | 0.48% | 0.00% | 0.00% |
SUKC.L SPDR Bloomberg 0-5 Year Sterling Corporate Bond UCITS ETF | 4.66% | 4.61% | 4.41% | 3.05% | 1.76% | 1.77% | 1.97% | 1.93% | 1.88% | 2.43% | 2.40% | 2.55% |
Frequently Asked Questions
CBSE.L and SUKC.L have a correlation of 0.10, 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 SUKC.L have the same expense ratio: 0.20% per year.
CBSE.L tracks Bloomberg Euro Corp TR EUR, while SUKC.L tracks Markit iBoxx GBP NonGilts 1-5 TR. They also come from different issuers: UBS and State Street.
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