FRUE.L vs. UC04.L

Last updated Apr 3, 2026

Compare and contrast key facts about Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) and UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L).

FRUE.L and UC04.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRUE.L is a passively managed fund by Franklin Templeton that tracks the performance of the Russell 1000 TR USD. It was launched on Sep 6, 2017. UC04.L is a passively managed fund by UBS that tracks the performance of the Russell 1000 TR USD. It was launched on Apr 11, 2012. Both FRUE.L and UC04.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FRUE.L vs. UC04.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) and UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L). The values are adjusted to include any dividend payments, if applicable.

FRUE.L vs. UC04.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRUE.L Franklin LibertyQ U.S. Equity UCITS ETF	-1.91%	21.39%	10.18%	15.31%	-8.72%	26.85%	9.50%	28.21%	-3.22%	11.10%
UC04.L UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis	-4.51%	17.52%	25.26%	26.87%	-20.08%	27.79%	20.18%	31.64%	-5.97%	9.79%

Different Trading Currencies

FRUE.L is traded in USD, while UC04.L is traded in GBp. To make them comparable, the UC04.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FRUE.L achieves a -1.91% return, which is significantly higher than UC04.L's -4.51% return.

FRUE.L

• 1D: -0.26%
• 1M: -2.19%
• YTD: -1.91%
• 6M: 0.55%
• 1Y: 21.20%
• 3Y*: 13.36%
• 5Y*: 10.26%
• 10Y*: —

UC04.L

• 1D: -0.08%
• 1M: -3.09%
• YTD: -4.51%
• 6M: -1.99%
• 1Y: 17.11%
• 3Y*: 18.17%
• 5Y*: 11.32%
• 10Y*: 13.80%

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

FRUE.L vs. UC04.L - Expense Ratio Comparison

FRUE.L has a 0.25% expense ratio, which is higher than UC04.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

FRUE.L

Franklin LibertyQ U.S. Equity UCITS ETF

UC04.L

UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis

Return for Risk

FRUE.L vs. UC04.L — Risk / Return Rank

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

FRUE.L

FRUE.L Risk / Return Rank: 77
FRUE.L Sharpe Ratio Rank: 69
FRUE.L Sortino Ratio Rank: 70
FRUE.L Omega Ratio Rank: 68
FRUE.L Calmar Ratio Rank: 85
FRUE.L Martin Ratio Rank: 91

UC04.L

UC04.L Risk / Return Rank: 62
UC04.L Sharpe Ratio Rank: 51
UC04.L Sortino Ratio Rank: 50
UC04.L Omega Ratio Rank: 50
UC04.L Calmar Ratio Rank: 81
UC04.L Martin Ratio Rank: 77

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.

FRUE.L vs. UC04.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) and UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.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.

	FRUE.L	UC04.L	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.07	+0.21
Sortino ratio Return per unit of downside risk	1.85	1.57	+0.28
Omega ratio Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio Return relative to maximum drawdown	3.13	2.50	+0.62
Martin ratio Return relative to average drawdown	13.99	10.75	+3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRUE.L vs. UC04.L - Sharpe Ratio Comparison

The current FRUE.L Sharpe Ratio is 1.28, which is comparable to the UC04.L Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of FRUE.L and UC04.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRUE.L	UC04.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.07	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.70	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.82	-0.05

Correlation

The correlation between FRUE.L and UC04.L is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRUE.L vs. UC04.L - Dividend Comparison

FRUE.L has not paid dividends to shareholders, while UC04.L's dividend yield for the trailing twelve months is around 0.96%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRUE.L Franklin LibertyQ U.S. Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UC04.L UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis	0.96%	0.96%	0.95%	1.12%	1.19%	0.89%	1.28%	1.40%	1.50%	1.32%	1.52%	1.44%

Drawdowns

FRUE.L vs. UC04.L - Drawdown Comparison

The maximum FRUE.L drawdown since its inception was -33.46%, roughly equal to the maximum UC04.L drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for FRUE.L and UC04.L.

Drawdown Indicators

	FRUE.L	UC04.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-25.93%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-7.67%	-0.97%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-21.14%	+1.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.93%	—
Current Drawdown Current decline from peak	-5.05%	-4.90%	-0.15%
Average Drawdown Average peak-to-trough decline	-3.87%	-3.49%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.21%	-0.34%

Volatility

FRUE.L vs. UC04.L - Volatility Comparison

Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) has a higher volatility of 5.18% compared to UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L) at 4.22%. This indicates that FRUE.L's price experiences larger fluctuations and is considered to be riskier than UC04.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRUE.L	UC04.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	4.22%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	8.78%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	15.97%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	16.08%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.75%	16.41%	-0.66%