UB32.L vs. SHYU.L
UB32.L (UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis) and SHYU.L (iShares $ High Yield Corp Bond UCITS ETF) are both exchange-traded funds - UB32.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while SHYU.L is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid High Yield Capped Index. Both are passively managed. Over the past 10 years, UB32.L returned 11.02%/yr vs 4.84%/yr for SHYU.L. At a 0.35 correlation, their price movements are largely independent. UB32.L charges 0.23%/yr vs 0.50%/yr for SHYU.L.
Performance
UB32.L vs. SHYU.L - Performance Comparison
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Different Trading Currencies
UB32.L is traded in GBp, while SHYU.L is traded in GBP. To make them comparable, the SHYU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UB32.L achieves a 26.16% return, which is significantly higher than SHYU.L's -1.70% return. Over the past 10 years, UB32.L has outperformed SHYU.L with an annualized return of 11.02%, while SHYU.L has yielded a comparatively lower 4.84% annualized return.
UB32.L
- 1D
- -1.51%
- 1M
- 6.18%
- YTD
- 26.16%
- 6M
- 28.70%
- 1Y
- 54.13%
- 3Y*
- 21.10%
- 5Y*
- 8.64%
- 10Y*
- 11.02%
SHYU.L
- 1D
- 0.16%
- 1M
- -0.19%
- YTD
- -1.70%
- 6M
- -1.85%
- 1Y
- 1.64%
- 3Y*
- 2.26%
- 5Y*
- 3.17%
- 10Y*
- 4.84%
UB32.L vs. SHYU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UB32.L UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis | 26.16% | 26.36% | 8.34% | 3.61% | -10.46% | -1.87% | 13.90% | 13.43% | -9.29% | 24.98% |
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | -1.70% | -4.17% | 8.56% | 4.72% | 2.04% | 4.96% | 1.60% | 9.12% | 4.39% | -3.89% |
Correlation
The correlation between UB32.L and SHYU.L is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2012 | 0.35 |
Over the past year, the correlation between UB32.L and SHYU.L has dropped to 0.05 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.
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Return for Risk
UB32.L vs. SHYU.L — Risk / Return Rank
UB32.L
SHYU.L
UB32.L vs. SHYU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UB32.L) and iShares $ High Yield Corp Bond UCITS ETF (SHYU.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.
| UB32.L | SHYU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.01 | ||
| Sortino ratioReturn per unit of downside risk | +3.80 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.05 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 5.17 | 0.25 | +4.92 |
| Martin ratioReturn relative to average drawdown | 18.40 | 0.43 | +17.97 |
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
| UB32.L | SHYU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.25 | 0.24 | +3.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.39 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.50 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.59 | -0.09 |
Drawdowns
UB32.L vs. SHYU.L - Drawdown Comparison
The maximum UB32.L drawdown since its inception was -30.25%, which is greater than SHYU.L's maximum drawdown of -15.01%. Use the drawdown chart below to compare losses from any high point for UB32.L and SHYU.L.
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Drawdown Indicators
| UB32.L | SHYU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.25% | -15.01% | -15.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -6.61% | -4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -11.08% | -3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -23.87% | -11.08% | -12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -27.71% | -15.01% | -12.70% |
Current DrawdownCurrent decline from peak | -2.44% | -9.14% | +6.70% |
Average DrawdownAverage peak-to-trough decline | -9.93% | -4.14% | -5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 3.83% | -0.85% |
Volatility
UB32.L vs. SHYU.L - Volatility Comparison
UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UB32.L) has a higher volatility of 7.38% compared to iShares $ High Yield Corp Bond UCITS ETF (SHYU.L) at 1.72%. This indicates that UB32.L's price experiences larger fluctuations and is considered to be riskier than SHYU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB32.L | SHYU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 1.72% | +5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.38% | 4.34% | +10.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 6.89% | +10.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.51% | 8.13% | +8.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 9.74% | +8.79% |
UB32.L vs. SHYU.L - Expense Ratio Comparison
UB32.L has a 0.23% expense ratio, which is lower than SHYU.L's 0.50% expense ratio.
Dividends
UB32.L vs. SHYU.L - Dividend Comparison
UB32.L's dividend yield for the trailing twelve months is around 1.70%, while SHYU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYU.L iShares $ High Yield Corp Bond UCITS ETF | 0.00% | 0.00% | 6.32% | 5.76% | 4.82% | 4.27% | 5.16% | 5.58% | 5.52% | 5.74% | 5.16% | 5.87% |
UB32.L UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis | 1.70% | 2.25% | 2.16% | 2.64% | 2.74% | 1.71% | 1.75% | 2.29% | 1.98% | 1.65% | 2.36% | 2.69% |
Frequently Asked Questions
UB32.L and SHYU.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UB32.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB32.L is cheaper with a 0.23% expense ratio, compared with 0.50% for SHYU.L.
UB32.L is categorized as Emerging Markets Equities, while SHYU.L is Corporate Bonds. UB32.L tracks MSCI EM NR USD, while SHYU.L tracks Markit iBoxx USD Liquid High Yield Capped Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.23% for UB32.L and 0.50% for SHYU.L.
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