UB01.L vs. UD08.L

Last updated Jun 25, 2026

UB01.L (UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis) and UD08.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc) are both exchange-traded funds - UB01.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while UD08.L is a Commodities fund tracking the UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). Both are passively managed. Over the past 5 years, UB01.L returned 11.86%/yr vs 11.35%/yr for UD08.L. At a 0.24 correlation, their price movements are largely independent. UB01.L charges 0.15%/yr vs 0.34%/yr for UD08.L.

Performance

UB01.L vs. UD08.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis (UB01.L) and UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UB01.L achieves a 8.28% return, which is significantly lower than UD08.L's 18.69% return.

UB01.L

• 1D: -0.44%
• 1M: 3.09%
• YTD: 8.28%
• 6M: 8.84%
• 1Y: 21.50%
• 3Y*: 16.88%
• 5Y*: 11.86%
• 10Y*: 12.14%

UD08.L

• 1D: -0.14%
• 1M: -5.07%
• YTD: 18.69%
• 6M: 18.55%
• 1Y: 33.15%
• 3Y*: 15.89%
• 5Y*: 11.35%
• 10Y*: —

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

UB01.L vs. UD08.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UB01.L UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis	8.28%	27.97%	6.13%	20.02%	-3.27%	15.22%	3.06%	21.79%	-8.80%
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc	18.69%	18.86%	6.39%	-6.29%	12.33%	33.73%	-3.77%	7.94%	-10.80%

Correlation

The correlation between UB01.L and UD08.L is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Mar 1, 2018	0.24

The correlation between UB01.L and UD08.L shifts across timeframes, from -0.04 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UB01.L vs. UD08.L — Risk / Return Rank

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

UB01.L

UB01.L Risk / Return Rank: 44
UB01.L Sharpe Ratio Rank: 46
UB01.L Sortino Ratio Rank: 47
UB01.L Omega Ratio Rank: 45
UB01.L Calmar Ratio Rank: 42
UB01.L Martin Ratio Rank: 43

UD08.L

UD08.L Risk / Return Rank: 77
UD08.L Sharpe Ratio Rank: 74
UD08.L Sortino Ratio Rank: 67
UD08.L Omega Ratio Rank: 76
UD08.L Calmar Ratio Rank: 88
UD08.L Martin Ratio Rank: 82

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.

UB01.L vs. UD08.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis (UB01.L) and UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.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.

	UB01.L	UD08.L	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.04	-0.62
Sortino ratio: Return per unit of downside risk	2.09	2.66	-0.57
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	1.88	4.53	-2.65
Martin ratio: Return relative to average drawdown	6.30	14.12	-7.83

UB01.L vs. UD08.L - Sharpe Ratio Comparison

The current UB01.L Sharpe Ratio is 1.42, which is lower than the UD08.L Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of UB01.L and UD08.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

UB01.L vs. UD08.L - Drawdown Comparison

The maximum UB01.L drawdown since its inception was -31.70%, smaller than the maximum UD08.L drawdown of -40.62%. Use the drawdown chart below to compare losses from any high point for UB01.L and UD08.L.

Drawdown Indicators

	UB01.L	UD08.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	-40.62%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-6.43%	-4.95%
Max Drawdown (3Y) Largest decline over 3 years	-13.92%	-13.21%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.64%	-24.66%	+3.02%
Max Drawdown (10Y) Largest decline over 10 years	-31.70%	—	—
Current Drawdown Current decline from peak	-2.39%	-6.16%	+3.77%
Average Drawdown Average peak-to-trough decline	-5.14%	-12.22%	+7.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	1.99%	+1.42%

Volatility

UB01.L vs. UD08.L - Volatility Comparison

The current volatility for UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis (UB01.L) is 3.70%, while UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) has a volatility of 4.03%. This indicates that UB01.L experiences smaller price fluctuations and is considered to be less risky than UD08.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UB01.L	UD08.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	4.03%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	12.00%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	14.30%	+0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	17.18%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	17.11%	+0.70%

UB01.L vs. UD08.L - Expense Ratio Comparison

UB01.L has a 0.15% expense ratio, which is lower than UD08.L's 0.34% expense ratio.

Dividends

UB01.L vs. UD08.L - Dividend Comparison

UB01.L's dividend yield for the trailing twelve months is around 2.52%, while UD08.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UB01.L UBS ETF (LU) EURO STOXX 50 UCITS ETF (EUR) A-dis	2.52%	2.43%	3.13%	2.83%	2.77%	1.95%	1.96%	3.06%	2.90%	2.90%	3.45%	3.56%
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc	0.00%	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

Can I hold both UB01.L and UD08.L in my portfolio?

UB01.L and UD08.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UB01.L or UD08.L?

On fees, UB01.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UB01.L or UD08.L?

UB01.L is cheaper with a 0.15% expense ratio, compared with 0.34% for UD08.L.

What is the main difference between UB01.L and UD08.L?

UB01.L is categorized as Europe Equities, while UD08.L is Commodities. UB01.L tracks MSCI EMU NR EUR, while UD08.L tracks UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged). Their fees differ too: 0.15% for UB01.L and 0.34% for UD08.L.