UBXX.L vs. FSEM.L
UBXX.L (UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis) and FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) are both Emerging Markets Bonds funds. UBXX.L is passively managed, while FSEM.L is actively managed. Over the past 5 years, UBXX.L returned 2.38%/yr vs 2.63%/yr for FSEM.L. At a 0.20 correlation, their price movements are largely independent. UBXX.L charges 0.47%/yr vs 0.45%/yr for FSEM.L.
Performance
UBXX.L vs. FSEM.L - Performance Comparison
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Different Trading Currencies
UBXX.L is traded in GBp, while FSEM.L is traded in USD. To make them comparable, the FSEM.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UBXX.L achieves a 2.14% return, which is significantly lower than FSEM.L's 3.32% return.
UBXX.L
- 1D
- 0.01%
- 1M
- 0.40%
- YTD
- 2.14%
- 6M
- 2.65%
- 1Y
- 8.00%
- 3Y*
- 8.13%
- 5Y*
- 2.38%
- 10Y*
- —
FSEM.L
- 1D
- 0.09%
- 1M
- 1.82%
- YTD
- 3.32%
- 6M
- 2.73%
- 1Y
- 13.62%
- 3Y*
- 6.08%
- 5Y*
- 2.63%
- 10Y*
- —
UBXX.L vs. FSEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis | 2.14% | 9.71% | 7.01% | 7.14% | -11.07% | -0.05% |
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 3.29% | 5.25% | 5.32% | 3.38% | -8.14% | 4.21% |
Correlation
The correlation between UBXX.L and FSEM.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.20 |
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Return for Risk
UBXX.L vs. FSEM.L — Risk / Return Rank
UBXX.L
FSEM.L
UBXX.L vs. FSEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) and Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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.
| UBXX.L | FSEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.32 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 2.38 | +1.75 |
| Martin ratioReturn relative to average drawdown | 19.08 | 6.80 | +12.27 |
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
| UBXX.L | FSEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.81 | 1.72 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.26 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.24 | +0.23 |
Drawdowns
UBXX.L vs. FSEM.L - Drawdown Comparison
The maximum UBXX.L drawdown since its inception was -16.83%, which is greater than FSEM.L's maximum drawdown of -15.36%. Use the drawdown chart below to compare losses from any high point for UBXX.L and FSEM.L.
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Drawdown Indicators
| UBXX.L | FSEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.83% | -15.36% | -1.47% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -5.70% | +3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -2.59% | -9.08% | +6.49% |
Max Drawdown (5Y)Largest decline over 5 years | -16.83% | -15.36% | -1.47% |
Current DrawdownCurrent decline from peak | -0.07% | -1.12% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -6.53% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 2.00% | -1.58% |
Volatility
UBXX.L vs. FSEM.L - Volatility Comparison
The current volatility for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) is 0.67%, while Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a volatility of 2.91%. This indicates that UBXX.L experiences smaller price fluctuations and is considered to be less risky than FSEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UBXX.L | FSEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 2.91% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 6.39% | -4.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 7.90% | -5.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.25% | 10.22% | -5.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 10.13% | -5.17% |
UBXX.L vs. FSEM.L - Expense Ratio Comparison
UBXX.L has a 0.47% expense ratio, which is higher than FSEM.L's 0.45% expense ratio.
Dividends
UBXX.L vs. FSEM.L - Dividend Comparison
UBXX.L's dividend yield for the trailing twelve months is around 6.47%, less than FSEM.L's 7.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% | 0.00% | 0.00% | 0.00% |
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis | 6.47% | 25.71% | 7.05% | 4.76% | 4.40% | 3.91% | 4.43% | 6.18% | 0.21% |
Frequently Asked Questions
UBXX.L and FSEM.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FSEM.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FSEM.L is cheaper with a 0.45% expense ratio, compared with 0.47% for UBXX.L.
They also come from different issuers: UBS and Fidelity. Their fees differ too: 0.47% for UBXX.L and 0.45% for FSEM.L.
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