CBSE.L vs. UC15.L
CBSE.L (UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis) and UC15.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) are both exchange-traded funds - CBSE.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR, while UC15.L is a Commodities fund tracking the UBS CMCI. Both are passively managed. Over the past 5 years, CBSE.L returned -0.11%/yr vs 12.77%/yr for UC15.L. At a 0.11 correlation, their price movements are largely independent. CBSE.L charges 0.20%/yr vs 0.34%/yr for UC15.L.
Performance
CBSE.L vs. UC15.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBSE.L achieves a -0.42% return, which is significantly lower than UC15.L's 21.49% 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*
- —
UC15.L
- 1D
- -1.31%
- 1M
- -0.91%
- YTD
- 21.49%
- 6M
- 22.05%
- 1Y
- 32.45%
- 3Y*
- 10.32%
- 5Y*
- 12.77%
- 10Y*
- 9.68%
CBSE.L vs. UC15.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% |
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc | 21.49% | 2.57% | 6.44% | -6.52% | 29.97% | 36.11% | -2.49% | 5.31% | -5.25% | -3.21% |
Correlation
The correlation between CBSE.L and UC15.L is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.11 |
The correlation between CBSE.L and UC15.L shifts across timeframes, from -0.27 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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. UC15.L — Risk / Return Rank
CBSE.L
UC15.L
CBSE.L vs. UC15.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 UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.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 | UC15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.39 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 5.23 | -4.08 |
| Martin ratioReturn relative to average drawdown | 2.96 | 13.93 | -10.97 |
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 | UC15.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.12 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.87 | -0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.33 | -0.17 |
Drawdowns
CBSE.L vs. UC15.L - Drawdown Comparison
The maximum CBSE.L drawdown since its inception was -24.02%, smaller than the maximum UC15.L drawdown of -42.93%. Use the drawdown chart below to compare losses from any high point for CBSE.L and UC15.L.
Loading charts...
Drawdown Indicators
| CBSE.L | UC15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.02% | -42.93% | +18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -4.12% | -6.18% | +2.06% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -13.98% | +9.86% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -17.43% | -2.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.26% | — |
Current DrawdownCurrent decline from peak | -7.66% | -3.53% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -15.17% | +5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.32% | -0.72% |
Volatility
CBSE.L vs. UC15.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-dis (CBSE.L) is 1.58%, while UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) has a volatility of 5.07%. This indicates that CBSE.L experiences smaller price fluctuations and is considered to be less risky than UC15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CBSE.L | UC15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 5.07% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 12.34% | -8.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.87% | 15.26% | -10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.43% | 14.69% | -8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.44% | 14.80% | -7.36% |
CBSE.L vs. UC15.L - Expense Ratio Comparison
CBSE.L has a 0.20% expense ratio, which is lower than UC15.L's 0.34% expense ratio.
Dividends
CBSE.L vs. UC15.L - Dividend Comparison
CBSE.L's dividend yield for the trailing twelve months is around 3.50%, while UC15.L has not paid dividends to shareholders.
| Position | TTM | 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 | 3.50% | 3.72% | 3.18% | 1.80% | 0.58% | 0.59% | 0.61% | 1.03% | 1.42% | 0.48% |
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBSE.L and UC15.L have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBSE.L is cheaper with a 0.20% expense ratio, compared with 0.34% for UC15.L.
CBSE.L is categorized as European Corporate Bonds, while UC15.L is Commodities. CBSE.L tracks Bloomberg Euro Corp TR EUR, while UC15.L tracks UBS CMCI. Their fees differ too: 0.20% for CBSE.L and 0.34% for UC15.L.
Find the right allocation for CBSE.L and UC15.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