UC04.L vs. ^GSPC
UC04.L (UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis) is Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, UC04.L returned 14.70%/yr vs 13.06%/yr for ^GSPC. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
UC04.L vs. ^GSPC - Performance Comparison
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Different Trading Currencies
UC04.L is traded in GBp, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with UC04.L having a 10.60% return and ^GSPC slightly lower at 10.17%. Over the past 10 years, UC04.L has outperformed ^GSPC with an annualized return of 14.70%, while ^GSPC has yielded a comparatively lower 13.06% annualized return.
UC04.L
- 1D
- -0.09%
- 1M
- 0.38%
- 6M
- 10.12%
- YTD
- 10.60%
- 1Y
- 21.33%
- 3Y*
- 19.25%
- 5Y*
- 13.28%
- 10Y*
- 14.70%
^GSPC
- 1D
- -0.66%
- 1M
- -0.64%
- 6M
- 8.66%
- YTD
- 10.17%
- 1Y
- 19.99%
- 3Y*
- 17.60%
- 5Y*
- 12.23%
- 10Y*
- 13.06%
UC04.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC04.L UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis | 10.60% | 9.28% | 27.38% | 20.50% | -10.51% | 28.96% | 16.61% | 26.56% | -0.32% | 10.74% |
^GSPC S&P 500 Index | 10.17% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 9.09% |
Correlation
The correlation between UC04.L and ^GSPC 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 | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.61 |
The correlation between UC04.L and ^GSPC has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
UC04.L vs. ^GSPC — Risk / Return Rank
UC04.L
^GSPC
UC04.L vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L) and S&P 500 Index (^GSPC). 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.
| UC04.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.31 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 2.50 | -1.74 |
| Martin ratioReturn relative to average drawdown | 1.12 | 9.11 | -7.99 |
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Drawdowns
UC04.L vs. ^GSPC - Drawdown Comparison
The maximum UC04.L drawdown since its inception was -39.47%, which is greater than ^GSPC's maximum drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for UC04.L and ^GSPC.
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Drawdown Indicators
| UC04.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -37.07% | -2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -28.93% | -8.03% | -20.90% |
Max Drawdown (3Y)Largest decline over 3 years | -28.93% | -22.15% | -6.78% |
Max Drawdown (5Y)Largest decline over 5 years | -28.93% | -22.15% | -6.78% |
Max Drawdown (10Y)Largest decline over 10 years | -28.93% | -26.01% | -2.92% |
Current DrawdownCurrent decline from peak | -16.60% | -1.42% | -15.18% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -5.29% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.56% | 2.20% | +17.36% |
Volatility
UC04.L vs. ^GSPC - Volatility Comparison
The current volatility for UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L) is 3.09%, while S&P 500 Index (^GSPC) has a volatility of 3.38%. This indicates that UC04.L experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC04.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 3.38% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.03% | 9.00% | -0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.54% | 12.03% | +31.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.94% | 15.96% | +7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.58% | 18.05% | +2.53% |
Frequently Asked Questions
UC04.L and ^GSPC 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.
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