ESES.L vs. UC99.L

Last updated Jul 18, 2026

ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)) and UC99.L (UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis) are both exchange-traded funds - ESES.L is a Emerging Markets Equities fund tracking the MSCI EM Universal Select Business Screens Index, while UC99.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, ESES.L returned 6.99%/yr vs 13.04%/yr for UC99.L. At a 0.49 correlation, their price movements are largely independent. ESES.L charges 0.19%/yr vs 0.25%/yr for UC99.L.

Performance

ESES.L vs. UC99.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L) and UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UC99.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESES.L achieves a 20.07% return, which is significantly higher than UC99.L's 10.98% return.

ESES.L

• 1D: -1.40%
• 1M: -8.29%
• 6M: 13.84%
• YTD: 20.07%
• 1Y: 35.10%
• 3Y*: 18.07%
• 5Y*: 6.99%
• 10Y*: —

UC99.L

• 1D: -0.60%
• 1M: 0.12%
• 6M: 9.04%
• YTD: 10.98%
• 1Y: 23.79%
• 3Y*: 18.32%
• 5Y*: 13.04%
• 10Y*: 15.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESES.L vs. UC99.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)	20.07%	24.05%	7.54%	2.94%	-11.14%	6,848.44%
UC99.L UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis	10.98%	9.22%	23.54%	28.83%	-14.41%	12.23%

Correlation

The correlation between ESES.L and UC99.L is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021	0.49

The correlation between ESES.L and UC99.L has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

Return for Risk

ESES.L vs. UC99.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESES.L

ESES.L Risk / Return Rank: 76
ESES.L Sharpe Ratio Rank: 76
ESES.L Sortino Ratio Rank: 73
ESES.L Omega Ratio Rank: 77
ESES.L Calmar Ratio Rank: 82
ESES.L Martin Ratio Rank: 74

UC99.L

UC99.L Risk / Return Rank: 72
UC99.L Sharpe Ratio Rank: 77
UC99.L Sortino Ratio Rank: 76
UC99.L Omega Ratio Rank: 74
UC99.L Calmar Ratio Rank: 66
UC99.L Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESES.L vs. UC99.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L) and UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UC99.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.

	ESES.L	UC99.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.89	-0.06
Sortino ratio: Return per unit of downside risk	2.49	2.67	-0.19
Omega ratio: Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	3.24	2.55	+0.69
Martin ratio: Return relative to average drawdown	9.91	9.15	+0.76

ESES.L vs. UC99.L - Sharpe Ratio Comparison

The current ESES.L Sharpe Ratio is 1.83, which is comparable to the UC99.L Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of ESES.L and UC99.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ESES.L vs. UC99.L - Drawdown Comparison

The maximum ESES.L drawdown since its inception was -23.59%, roughly equal to the maximum UC99.L drawdown of -23.04%. Use the drawdown chart below to compare losses from any high point for ESES.L and UC99.L.

Drawdown Indicators

	ESES.L	UC99.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.59%	-23.04%	-0.55%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-9.29%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-23.59%	-23.04%	-0.55%
Max Drawdown (5Y) Largest decline over 5 years	-23.59%	-23.04%	-0.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.04%	—
Current Drawdown Current decline from peak	-10.05%	-1.93%	-8.12%
Average Drawdown Average peak-to-trough decline	-10.52%	-4.01%	-6.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.59%	+0.94%

Volatility

ESES.L vs. UC99.L - Volatility Comparison

Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L) has a higher volatility of 7.19% compared to UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UC99.L) at 3.76%. This indicates that ESES.L's price experiences larger fluctuations and is considered to be riskier than UC99.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESES.L	UC99.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	3.76%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	9.15%	+7.90%
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	12.59%	+6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.67%	16.12%	+5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,195.40%	16.39%	+3,179.01%

ESES.L vs. UC99.L - Expense Ratio Comparison

ESES.L has a 0.19% expense ratio, which is lower than UC99.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ESES.L vs. UC99.L - Dividend Comparison

ESES.L has not paid dividends to shareholders, while UC99.L's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UC99.L UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis	0.41%	0.46%	0.67%	0.85%	0.79%	0.78%	0.98%	0.78%	1.27%	0.93%	1.00%

Frequently Asked Questions

Can I hold both ESES.L and UC99.L in my portfolio?

ESES.L and UC99.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESES.L or UC99.L?

On fees, ESES.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESES.L or UC99.L?

ESES.L is cheaper with a 0.19% expense ratio, compared with 0.25% for UC99.L.

What is the main difference between ESES.L and UC99.L?

ESES.L is categorized as Emerging Markets Equities, while UC99.L is Large Cap Blend Equities. ESES.L tracks MSCI EM Universal Select Business Screens Index, while UC99.L tracks Russell 1000 TR USD. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.19% for ESES.L and 0.25% for UC99.L.