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UB03.L vs. UC15.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UB03.L vs. UC15.L

Last updated Jun 5, 2026

UB03.L (UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis) and UC15.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) are both exchange-traded funds - UB03.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while UC15.L is a Commodities fund tracking the UBS CMCI. Both are passively managed. Over the past 10 years, UB03.L returned 8.91%/yr vs 9.68%/yr for UC15.L. At a 0.14 correlation, their price movements are largely independent. UB03.L charges 0.20%/yr vs 0.34%/yr for UC15.L.

Performance

UB03.L vs. UC15.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) and UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.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, UB03.L achieves a 5.64% return, which is significantly lower than UC15.L's 21.49% return. Over the past 10 years, UB03.L has underperformed UC15.L with an annualized return of 8.91%, while UC15.L has yielded a comparatively higher 9.68% annualized return.

UB03.L

1D
0.29%
1M
1.62%
YTD
5.64%
6M
8.14%
1Y
20.72%
3Y*
15.41%
5Y*
11.59%
10Y*
8.91%

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

UB03.L vs. UC15.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UB03.L
UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis		5.64%26.20%9.58%8.35%3.14%16.12%-10.39%17.37%-7.12%9.91%
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 UB03.L and UC15.L is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.22

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

-0.03

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

0.04

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

0.13

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2013

0.14

The correlation between UB03.L and UC15.L shifts across timeframes, from -0.22 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

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UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis

UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc

Often compared with UB03.L:
UB03.L vs. VUKE.DEUB03.L vs. 5ESG.LUB03.L vs. UB01.LUB03.L vs. HDEU.LUB03.L vs. LCUK.LUB03.L vs. PRIZ.LUB03.L vs. UC04.L
Often compared with UC15.L:
UC15.L vs. SGLN.LUC15.L vs. ENCG.LUC15.L vs. CMFP.LUC15.L vs. VUSA.LUC15.L vs. COMTUC15.L vs. XBCU.LUC15.L vs. GDIG.L

Return for Risk

UB03.L vs. UC15.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UB03.L
UB03.L Risk / Return Rank: 5858
Overall Rank
UB03.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
UB03.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
UB03.L Omega Ratio Rank: 6161
Omega Ratio Rank
UB03.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
UB03.L Martin Ratio Rank: 5151
Martin Ratio Rank
UC15.L
UC15.L Risk / Return Rank: 7171
Overall Rank
UC15.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
UC15.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
UC15.L Omega Ratio Rank: 6565
Omega Ratio Rank
UC15.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
UC15.L Martin Ratio Rank: 7575
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.

UB03.L vs. UC15.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.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.

UB03.LUC15.LDifference
Sharpe ratioReturn per unit of total volatility
2.00
2.12

-0.12

Sortino ratioReturn per unit of downside risk
2.80
2.77

+0.03

Omega ratioGain probability vs. loss probability

1.37

1.39

-0.02

Calmar ratioReturn relative to maximum drawdown

2.66

5.23

-2.57

Martin ratioReturn relative to average drawdown

8.61

13.93

-5.32

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UB03.L vs. UC15.L - Sharpe Ratio Comparison

The current UB03.L Sharpe Ratio is 2.00, which is comparable to the UC15.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of UB03.L and UC15.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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Sharpe Ratios by Period

UB03.LUC15.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

2.12

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.28

0.87

+0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

0.66

+0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.33

+0.49

Drawdowns

UB03.L vs. UC15.L - Drawdown Comparison

The maximum UB03.L drawdown since its inception was -33.84%, smaller than the maximum UC15.L drawdown of -42.93%. Use the drawdown chart below to compare losses from any high point for UB03.L and UC15.L.

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Drawdown Indicators

UB03.LUC15.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.84%

-42.93%

+9.09%

Max Drawdown (1Y)

Largest decline over 1 year

-9.09%

-6.18%

-2.91%

Max Drawdown (3Y)

Largest decline over 3 years

-12.11%

-13.98%

+1.87%

Max Drawdown (5Y)

Largest decline over 5 years

-12.11%

-17.43%

+5.32%

Max Drawdown (10Y)

Largest decline over 10 years

-33.84%

-30.26%

-3.58%

Current Drawdown

Current decline from peak

-4.00%

-3.53%

-0.47%

Average Drawdown

Average peak-to-trough decline

-4.91%

-15.17%

+10.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.32%

+0.79%

Volatility

UB03.L vs. UC15.L - Volatility Comparison

The current volatility for UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) is 4.06%, while UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) has a volatility of 5.07%. This indicates that UB03.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

UB03.LUC15.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.06%

5.07%

-1.01%

Volatility (6M)

Calculated over the trailing 6-month period

9.74%

12.34%

-2.60%

Volatility (1Y)

Calculated over the trailing 1-year period

12.08%

15.26%

-3.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.53%

14.69%

+2.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.97%

14.80%

+6.17%

UB03.L vs. UC15.L - Expense Ratio Comparison

UB03.L has a 0.20% expense ratio, which is lower than UC15.L's 0.34% expense ratio.

Dividends

UB03.L vs. UC15.L - Dividend Comparison

UB03.L's dividend yield for the trailing twelve months is around 2.71%, while UC15.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
UB03.L
UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis		2.71%2.92%3.75%3.63%3.69%3.10%3.72%4.13%4.21%3.30%3.61%4.14%
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%0.00%

Frequently Asked Questions

UB03.L and UC15.L have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, UB03.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UB03.L is cheaper with a 0.20% expense ratio, compared with 0.34% for UC15.L.

UB03.L is categorized as Europe Equities, while UC15.L is Commodities. UB03.L tracks FTSE AllSh TR GBP, while UC15.L tracks UBS CMCI. Their fees differ too: 0.20% for UB03.L and 0.34% for UC15.L.

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