UBTS.L vs. SBEM.L
UBTS.L (UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis) and SBEM.L (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis) are both exchange-traded funds - UBTS.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD, while SBEM.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, UBTS.L returned 3.32%/yr vs 3.47%/yr for SBEM.L. A 0.70 correlation means they provide meaningful diversification when combined. UBTS.L charges 0.15%/yr vs 0.42%/yr for SBEM.L.
Performance
UBTS.L vs. SBEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, UBTS.L achieves a 1.80% return, which is significantly lower than SBEM.L's 2.48% return.
UBTS.L
- 1D
- -0.10%
- 1M
- 0.69%
- YTD
- 1.80%
- 6M
- 0.83%
- 1Y
- 5.77%
- 3Y*
- 2.02%
- 5Y*
- 3.32%
- 10Y*
- —
SBEM.L
- 1D
- 0.23%
- 1M
- 2.35%
- YTD
- 2.48%
- 6M
- 2.78%
- 1Y
- 14.55%
- 3Y*
- 8.68%
- 5Y*
- 3.47%
- 10Y*
- 4.55%
UBTS.L vs. SBEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 1.80% | -0.11% | 4.95% | -1.59% | 3.39% | 6.97% | 4.62% | 3.52% | 5.25% | -7.29% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 2.48% | 7.42% | 9.46% | 5.94% | -10.24% | -1.29% | 1.28% | 10.91% | 1.42% | 0.47% |
Correlation
The correlation between UBTS.L and SBEM.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2016 | 0.70 |
The correlation between UBTS.L and SBEM.L has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
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Return for Risk
UBTS.L vs. SBEM.L — Risk / Return Rank
UBTS.L
SBEM.L
UBTS.L vs. SBEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.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.
| UBTS.L | SBEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 4.10 | -2.95 |
| Martin ratioReturn relative to average drawdown | 3.08 | 11.84 | -8.77 |
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
| UBTS.L | SBEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 2.24 | -1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.39 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.48 | -0.22 |
Drawdowns
UBTS.L vs. SBEM.L - Drawdown Comparison
The maximum UBTS.L drawdown since its inception was -15.99%, smaller than the maximum SBEM.L drawdown of -21.61%. Use the drawdown chart below to compare losses from any high point for UBTS.L and SBEM.L.
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Drawdown Indicators
| UBTS.L | SBEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -21.61% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -3.53% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -9.79% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -17.20% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.61% | — |
Current DrawdownCurrent decline from peak | -5.74% | 0.00% | -5.74% |
Average DrawdownAverage peak-to-trough decline | -6.89% | -7.26% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 1.23% | +0.64% |
Volatility
UBTS.L vs. SBEM.L - Volatility Comparison
UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis (UBTS.L) has a higher volatility of 1.78% compared to UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) at 1.66%. This indicates that UBTS.L's price experiences larger fluctuations and is considered to be riskier than SBEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UBTS.L | SBEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.66% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 4.58% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.29% | 6.47% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.15% | 8.85% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 10.88% | -2.20% |
UBTS.L vs. SBEM.L - Expense Ratio Comparison
UBTS.L has a 0.15% expense ratio, which is lower than SBEM.L's 0.42% expense ratio.
Dividends
UBTS.L vs. SBEM.L - Dividend Comparison
UBTS.L's dividend yield for the trailing twelve months is around 4.01%, less than SBEM.L's 6.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 6.53% | 7.69% | 6.28% | 6.49% | 5.72% | 4.35% | 4.92% | 4.83% | 4.47% | 4.84% | 2.27% |
UBTS.L UBS ETF (LU) Bloomberg TIPS 1-10 UCITS ETF (USD) A-dis | 4.01% | 3.26% | 4.42% | 4.57% | 6.66% | 2.83% | 0.84% | 2.30% | 2.38% | 1.27% | 0.00% |
Frequently Asked Questions
UBTS.L and SBEM.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UBTS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UBTS.L is cheaper with a 0.15% expense ratio, compared with 0.42% for SBEM.L.
UBTS.L is categorized as Inflation-Protected Bonds, while SBEM.L is Emerging Markets Bonds. UBTS.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD, while SBEM.L tracks JPM EMBI Global Diversified TR USD. Their fees differ too: 0.15% for UBTS.L and 0.42% for SBEM.L.
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