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UB02.L vs. UC63.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UB02.L vs. UC63.L

Last updated Jul 18, 2026
Documentation

UB02.L (UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis) and UC63.L (UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis) are both exchange-traded funds - UB02.L is a Japan Equities fund tracking the TOPIX TR JPY, while UC63.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, UB02.L returned 8.76%/yr vs 8.44%/yr for UC63.L. A 0.55 correlation means they provide meaningful diversification when combined. UB02.L charges 0.19%/yr vs 0.20%/yr for UC63.L.

Performance

UB02.L vs. UC63.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) and UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UB02.L achieves a 12.50% return, which is significantly higher than UC63.L's 8.47% return. Both investments have delivered pretty close results over the past 10 years, with UB02.L having a 8.76% annualized return and UC63.L not far behind at 8.44%.

UB02.L

1D
-2.05%
1M
-5.96%
6M
5.62%
YTD
12.50%
1Y
30.04%
3Y*
15.09%
5Y*
9.33%
10Y*
8.76%

UC63.L

1D
0.41%
1M
0.84%
6M
5.27%
YTD
8.47%
1Y
22.18%
3Y*
16.38%
5Y*
12.93%
10Y*
8.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UB02.L vs. UC63.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UB02.L
UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis		12.50%17.42%9.12%13.98%-7.14%2.16%12.42%14.28%-8.60%13.20%
UC63.L
UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis		8.47%25.75%9.16%6.95%7.38%19.00%-13.55%16.32%-9.35%12.54%

Correlation

The correlation between UB02.L and UC63.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.41

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Nov 29, 2013

0.55

The correlation between UB02.L and UC63.L shifts across timeframes, from 0.41 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

UB02.L vs. UC63.L - Sectors Allocation Comparison

Sectors
UB02.L
UC63.L

Technology

24.9%
0.6%

Industrials

22.8%
13.8%

Financial Services

17.6%
25.9%

Consumer Cyclical

11.2%
3.9%

Communication Services

8.1%
2.1%

Healthcare

5.3%
14.5%

Consumer Defensive

3.4%
14.7%

Basic Materials

3.1%
8.3%

Real Estate

1.9%
0.7%

Utilities

1.0%
5.1%

Energy

0.8%
10.4%

Technology

UB02.L
24.9%
UC63.L
0.6%

Industrials

UB02.L
22.8%
UC63.L
13.8%

Financial Services

UB02.L
17.6%
UC63.L
25.9%

Consumer Cyclical

UB02.L
11.2%
UC63.L
3.9%

Communication Services

UB02.L
8.1%
UC63.L
2.1%

Healthcare

UB02.L
5.3%
UC63.L
14.5%

Consumer Defensive

UB02.L
3.4%
UC63.L
14.7%

Basic Materials

UB02.L
3.1%
UC63.L
8.3%

Real Estate

UB02.L
1.9%
UC63.L
0.7%

Utilities

UB02.L
1.0%
UC63.L
5.1%

Energy

UB02.L
0.8%
UC63.L
10.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis

UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis

Often compared with UB02.L:
UB02.L vs. CNKY.LUB02.L vs. IJPE.LUB02.L vs. 5ESG.LUB02.L vs. UC04.LUB02.L vs. UC15.LUB02.L vs. UB01.LUB02.L vs. XDJP.L
Often compared with UC63.L:
UC63.L vs. IUIS.LUC63.L vs. VTIUC63.L vs. VOOUC63.L vs. IUIT.LUC63.L vs. VADGXUC63.L vs. UB17.LUC63.L vs. SPY

Return for Risk

UB02.L vs. UC63.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UB02.L
UB02.L Risk / Return Rank: 6464
Overall Rank
UB02.L Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
UB02.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
UB02.L Omega Ratio Rank: 6161
Omega Ratio Rank
UB02.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
UB02.L Martin Ratio Rank: 6464
Martin Ratio Rank
UC63.L
UC63.L Risk / Return Rank: 7070
Overall Rank
UC63.L Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
UC63.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
UC63.L Omega Ratio Rank: 7878
Omega Ratio Rank
UC63.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
UC63.L Martin Ratio Rank: 5858
Martin Ratio Rank
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.

UB02.L vs. UC63.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) and UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.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.

UB02.LUC63.LDifference
Sharpe ratioReturn per unit of total volatility
1.53
1.90

-0.37

Sortino ratioReturn per unit of downside risk
2.16
2.60

-0.45

Omega ratioGain probability vs. loss probability

1.28

1.36

-0.08

Calmar ratioReturn relative to maximum drawdown

2.80

2.44

+0.36

Martin ratioReturn relative to average drawdown

8.41

7.79

+0.63

UB02.L vs. UC63.L - Sharpe Ratio Comparison

The current UB02.L Sharpe Ratio is 1.53, which is comparable to the UC63.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of UB02.L and UC63.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.

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Drawdowns

UB02.L vs. UC63.L - Drawdown Comparison

The maximum UB02.L drawdown since its inception was -23.08%, smaller than the maximum UC63.L drawdown of -34.55%. Use the drawdown chart below to compare losses from any high point for UB02.L and UC63.L.

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Drawdown Indicators

UB02.LUC63.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.08%

-34.55%

+11.47%

Max Drawdown (1Y)

Largest decline over 1 year

-10.68%

-9.05%

-1.63%

Max Drawdown (3Y)

Largest decline over 3 years

-14.15%

-12.95%

-1.20%

Max Drawdown (5Y)

Largest decline over 5 years

-18.58%

-12.95%

-5.63%

Max Drawdown (10Y)

Largest decline over 10 years

-23.08%

-34.55%

+11.47%

Current Drawdown

Current decline from peak

-8.47%

-1.80%

-6.67%

Average Drawdown

Average peak-to-trough decline

-5.87%

-4.78%

-1.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

2.84%

+0.72%

Volatility

UB02.L vs. UC63.L - Volatility Comparison

UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) has a higher volatility of 6.74% compared to UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) at 3.11%. This indicates that UB02.L's price experiences larger fluctuations and is considered to be riskier than UC63.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UB02.LUC63.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.74%

3.11%

+3.63%

Volatility (6M)

Calculated over the trailing 6-month period

16.22%

9.98%

+6.24%

Volatility (1Y)

Calculated over the trailing 1-year period

19.60%

11.64%

+7.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

12.85%

+3.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

14.88%

+0.91%

UB02.L vs. UC63.L - Expense Ratio Comparison

UB02.L has a 0.19% expense ratio, which is lower than UC63.L's 0.20% 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

UB02.L vs. UC63.L - Dividend Comparison

UB02.L's dividend yield for the trailing twelve months is around 1.65%, less than UC63.L's 2.80% yield.

PositionTTM20252024202320222021202020192018201720162015
UB02.L
UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis		1.65%1.68%1.71%1.82%1.99%1.58%1.62%1.75%1.56%1.30%1.45%1.18%
UC63.L
UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis		2.80%2.73%3.12%3.69%3.71%3.22%3.86%4.21%3.55%4.46%2.14%4.44%

Frequently Asked Questions

UB02.L and UC63.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, UB02.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UB02.L is cheaper with a 0.19% expense ratio, compared with 0.20% for UC63.L.

UB02.L is categorized as Japan Equities, while UC63.L is Europe Equities. UB02.L tracks TOPIX TR JPY, while UC63.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.19% for UB02.L and 0.20% for UC63.L.

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