SBEM.L vs. UC15.L
SBEM.L (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis) and UC15.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) are both exchange-traded funds - SBEM.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while UC15.L is a Commodities fund tracking the UBS CMCI. Both are passively managed. Over the past 10 years, SBEM.L returned 4.55%/yr vs 9.68%/yr for UC15.L. At a 0.31 correlation, their price movements are largely independent. SBEM.L charges 0.42%/yr vs 0.34%/yr for UC15.L.
Performance
SBEM.L vs. UC15.L - Performance Comparison
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Returns By Period
In the year-to-date period, SBEM.L achieves a 2.48% return, which is significantly lower than UC15.L's 21.49% return. Over the past 10 years, SBEM.L has underperformed UC15.L with an annualized return of 4.55%, while UC15.L has yielded a comparatively higher 9.68% annualized return.
SBEM.L
- 1D
- 0.23%
- 1M
- 2.35%
- YTD
- 2.48%
- 6M
- 2.78%
- 1Y
- 14.55%
- 3Y*
- 8.68%
- 5Y*
- 3.47%
- 10Y*
- 4.55%
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%
SBEM.L vs. UC15.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 2.48% | 7.42% | 9.46% | 5.94% | -10.24% | -1.29% | 1.28% | 10.91% | 1.42% | 0.47% |
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% | -2.80% |
Correlation
The correlation between SBEM.L and UC15.L is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2016 | 0.31 |
Over the past year, the correlation between SBEM.L and UC15.L has dropped to 0.07 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
SBEM.L vs. UC15.L — Risk / Return Rank
SBEM.L
UC15.L
SBEM.L vs. UC15.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.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.
| SBEM.L | UC15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.39 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 5.23 | -1.12 |
| Martin ratioReturn relative to average drawdown | 11.84 | 13.93 | -2.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBEM.L | UC15.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.12 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.87 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.66 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.33 | +0.15 |
Drawdowns
SBEM.L vs. UC15.L - Drawdown Comparison
The maximum SBEM.L drawdown since its inception was -21.61%, smaller than the maximum UC15.L drawdown of -42.93%. Use the drawdown chart below to compare losses from any high point for SBEM.L and UC15.L.
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Drawdown Indicators
| SBEM.L | UC15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -42.93% | +21.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -6.18% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -9.79% | -13.98% | +4.19% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -17.43% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -21.61% | -30.26% | +8.65% |
Current DrawdownCurrent decline from peak | 0.00% | -3.53% | +3.53% |
Average DrawdownAverage peak-to-trough decline | -7.26% | -15.17% | +7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 2.32% | -1.09% |
Volatility
SBEM.L vs. UC15.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) is 1.66%, while UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) has a volatility of 5.07%. This indicates that SBEM.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.
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Volatility by Period
| SBEM.L | UC15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 5.07% | -3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 12.34% | -7.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 15.26% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.85% | 14.69% | -5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.88% | 14.80% | -3.92% |
SBEM.L vs. UC15.L - Expense Ratio Comparison
SBEM.L has a 0.42% expense ratio, which is higher than UC15.L's 0.34% expense ratio.
Dividends
SBEM.L vs. UC15.L - Dividend Comparison
SBEM.L's dividend yield for the trailing twelve months is around 6.53%, while UC15.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 6.53% | 7.69% | 6.28% | 6.49% | 5.72% | 4.35% | 4.92% | 4.83% | 4.47% | 4.84% | 2.27% |
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% | 0.00% |
Frequently Asked Questions
SBEM.L and UC15.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC15.L is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC15.L is cheaper with a 0.34% expense ratio, compared with 0.42% for SBEM.L.
SBEM.L is categorized as Emerging Markets Bonds, while UC15.L is Commodities. SBEM.L tracks JPM EMBI Global Diversified TR USD, while UC15.L tracks UBS CMCI. Their fees differ too: 0.42% for SBEM.L and 0.34% for UC15.L.
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