UBUT.DE vs. QVML

Last updated Jun 26, 2026

UBUT.DE (UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis) and QVML (Invesco S&P 500 QVM Multi-factor ETF) are both exchange-traded funds - UBUT.DE is a Large Cap Blend Equities fund tracking the MSCI USA Quality, while QVML is a Multi-factor fund tracking the S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UBUT.DE returned 18.66%/yr vs 19.49%/yr for QVML. A 0.60 correlation means they provide meaningful diversification when combined. UBUT.DE charges 0.25%/yr vs 0.11%/yr for QVML.

Performance

UBUT.DE vs. QVML - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UBUT.DE) and Invesco S&P 500 QVM Multi-factor ETF (QVML). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UBUT.DE is traded in EUR, while QVML is traded in USD. To make them comparable, the QVML values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with UBUT.DE having a 11.48% return and QVML slightly higher at 12.03%.

UBUT.DE

• 1D: -0.65%
• 1M: 1.40%
• YTD: 11.48%
• 6M: 11.92%
• 1Y: 28.31%
• 3Y*: 18.66%
• 5Y*: 13.59%
• 10Y*: 16.37%

QVML

• 1D: -0.11%
• 1M: 0.23%
• YTD: 12.03%
• 6M: 11.08%
• 1Y: 25.43%
• 3Y*: 19.49%
• 5Y*: —
• 10Y*: —

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

UBUT.DE vs. QVML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UBUT.DE UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis	11.48%	4.94%	28.23%	31.58%	-19.43%	17.54%
QVML Invesco S&P 500 QVM Multi-factor ETF	12.03%	3.77%	34.18%	18.52%	-11.06%	17.60%

Correlation

The correlation between UBUT.DE and QVML is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.60

The correlation between UBUT.DE and QVML has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

Return for Risk

UBUT.DE vs. QVML — Risk / Return Rank

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

UBUT.DE

UBUT.DE Risk / Return Rank: 72
UBUT.DE Sharpe Ratio Rank: 75
UBUT.DE Sortino Ratio Rank: 76
UBUT.DE Omega Ratio Rank: 73
UBUT.DE Calmar Ratio Rank: 69
UBUT.DE Martin Ratio Rank: 68

QVML

QVML Risk / Return Rank: 65
QVML Sharpe Ratio Rank: 65
QVML Sortino Ratio Rank: 64
QVML Omega Ratio Rank: 63
QVML Calmar Ratio Rank: 60
QVML Martin Ratio Rank: 71

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.

UBUT.DE vs. QVML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UBUT.DE) and Invesco S&P 500 QVM Multi-factor ETF (QVML). 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.

	UBUT.DE	QVML	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.09	+0.02
Sortino ratio: Return per unit of downside risk	2.96	2.74	+0.22
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	3.06	3.56	-0.49
Martin ratio: Return relative to average drawdown	10.89	13.46	-2.57

UBUT.DE vs. QVML - Sharpe Ratio Comparison

The current UBUT.DE Sharpe Ratio is 2.11, which is comparable to the QVML Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of UBUT.DE and QVML, 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

UBUT.DE vs. QVML - Drawdown Comparison

The maximum UBUT.DE drawdown since its inception was -30.49%, which is greater than QVML's maximum drawdown of -23.55%. Use the drawdown chart below to compare losses from any high point for UBUT.DE and QVML.

Drawdown Indicators

	UBUT.DE	QVML	Difference
Max Drawdown Largest peak-to-trough decline	-30.49%	-23.55%	-6.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-7.18%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.78%	-23.55%	-1.23%
Max Drawdown (5Y) Largest decline over 5 years	-24.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.49%	—	—
Current Drawdown Current decline from peak	-0.65%	-1.37%	+0.72%
Average Drawdown Average peak-to-trough decline	-4.99%	-4.56%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	1.89%	+0.70%

Volatility

UBUT.DE vs. QVML - Volatility Comparison

The current volatility for UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis (UBUT.DE) is 3.28%, while Invesco S&P 500 QVM Multi-factor ETF (QVML) has a volatility of 3.64%. This indicates that UBUT.DE experiences smaller price fluctuations and is considered to be less risky than QVML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBUT.DE	QVML	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.64%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	9.13%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	12.23%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	16.55%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	16.55%	+0.47%

UBUT.DE vs. QVML - Expense Ratio Comparison

UBUT.DE has a 0.25% expense ratio, which is higher than QVML's 0.11% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UBUT.DE vs. QVML - Dividend Comparison

UBUT.DE's dividend yield for the trailing twelve months is around 0.41%, less than QVML's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QVML Invesco S&P 500 QVM Multi-factor ETF	1.03%	1.10%	1.15%	1.43%	1.72%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%
UBUT.DE UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (USD) A-dis	0.41%	0.47%	0.65%	0.84%	0.84%	0.74%	1.00%	0.74%	1.28%	0.95%	1.06%

Frequently Asked Questions

Can I hold both UBUT.DE and QVML in my portfolio?

UBUT.DE and QVML have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBUT.DE or QVML?

On fees, QVML is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBUT.DE or QVML?

QVML is cheaper with a 0.11% expense ratio, compared with 0.25% for UBUT.DE.

What is the main difference between UBUT.DE and QVML?

UBUT.DE is categorized as Large Cap Blend Equities, while QVML is Multi-factor. UBUT.DE tracks MSCI USA Quality, while QVML tracks S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.25% for UBUT.DE and 0.11% for QVML.