SUSD.L vs. UC81.L
SUSD.L (SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF) and UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) are both Corporate Bonds funds tracking the Bloomberg US Corp 1-3 Yr TR USD, from State Street and UBS respectively. Both are passively managed. Over the past 10 years, SUSD.L returned 3.36%/yr vs 3.31%/yr for UC81.L. With a 0.96 correlation, they move nearly in lockstep. SUSD.L charges 0.12%/yr vs 0.18%/yr for UC81.L.
Performance
SUSD.L vs. UC81.L - Performance Comparison
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Different Trading Currencies
SUSD.L is traded in GBP, while UC81.L is traded in GBp. To make them comparable, the UC81.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUSD.L achieves a 1.34% return, which is significantly higher than UC81.L's 0.48% return. Both investments have delivered pretty close results over the past 10 years, with SUSD.L having a 3.36% annualized return and UC81.L not far behind at 3.31%.
SUSD.L
- 1D
- 0.05%
- 1M
- 1.52%
- YTD
- 1.34%
- 6M
- 0.80%
- 1Y
- 5.70%
- 3Y*
- 2.52%
- 5Y*
- 4.04%
- 10Y*
- 3.36%
UC81.L
- 1D
- 0.17%
- 1M
- 1.13%
- YTD
- 0.48%
- 6M
- 0.19%
- 1Y
- 5.34%
- 3Y*
- 2.64%
- 5Y*
- 3.20%
- 10Y*
- 3.31%
SUSD.L vs. UC81.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 1.34% | -1.69% | 7.18% | -0.46% | 9.68% | 1.10% | -0.39% | 1.34% | 7.32% | -7.71% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 0.48% | -0.20% | 6.44% | 0.38% | 4.76% | 0.32% | 1.51% | 4.23% | 6.12% | -6.53% |
Correlation
The correlation between SUSD.L and UC81.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.96 |
The correlation between SUSD.L and UC81.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
SUSD.L vs. UC81.L — Risk / Return Rank
SUSD.L
UC81.L
SUSD.L vs. UC81.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.L) and UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.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.
| SUSD.L | UC81.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.24 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.31 | 3.19 | +0.12 |
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
| SUSD.L | UC81.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.91 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.41 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.36 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.43 | -0.03 |
Drawdowns
SUSD.L vs. UC81.L - Drawdown Comparison
The maximum SUSD.L drawdown since its inception was -15.18%, roughly equal to the maximum UC81.L drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for SUSD.L and UC81.L.
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Drawdown Indicators
| SUSD.L | UC81.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.18% | -14.94% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -4.29% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -9.03% | -8.01% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.18% | -14.31% | -0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -15.18% | -14.94% | -0.24% |
Current DrawdownCurrent decline from peak | -3.84% | -2.57% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -5.56% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.67% | -0.04% |
Volatility
SUSD.L vs. UC81.L - Volatility Comparison
SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.L) has a higher volatility of 1.75% compared to UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) at 1.51%. This indicates that SUSD.L's price experiences larger fluctuations and is considered to be riskier than UC81.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUSD.L | UC81.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 1.51% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.27% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 5.82% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.17% | 7.78% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 9.16% | +0.07% |
SUSD.L vs. UC81.L - Expense Ratio Comparison
SUSD.L has a 0.12% expense ratio, which is lower than UC81.L's 0.18% 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
SUSD.L vs. UC81.L - Dividend Comparison
SUSD.L's dividend yield for the trailing twelve months is around 4.60%, less than UC81.L's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 4.60% | 4.91% | 4.20% | 3.11% | 1.14% | 1.80% | 2.77% | 2.57% | 1.66% | 1.74% | 1.28% | 1.00% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 4.67% | 5.59% | 4.77% | 3.28% | 1.36% | 1.58% | 2.75% | 2.90% | 2.20% | 2.16% | 1.86% | 0.84% |
Frequently Asked Questions
With a correlation of 0.96, SUSD.L and UC81.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SUSD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUSD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for UC81.L.
Both ETFs track Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: State Street and UBS. Their fees differ too: 0.12% for SUSD.L and 0.18% for UC81.L.
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