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UC13.L vs. IUSE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UC13.L vs. IUSE.L

Last updated Jun 5, 2026

UC13.L (UBS Core S&P 500 UCITS ETF USD dis) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both S&P 500 funds - UC13.L tracks the S&P 500 Index while IUSE.L tracks the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, UC13.L returned 14.50%/yr vs 13.58%/yr for IUSE.L. A 0.79 correlation means they provide meaningful diversification when combined. UC13.L charges 0.03%/yr vs 0.20%/yr for IUSE.L.

Performance

UC13.L vs. IUSE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS Core S&P 500 UCITS ETF USD dis (UC13.L) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

UC13.L is traded in GBp, while IUSE.L is traded in EUR. To make them comparable, the IUSE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, UC13.L achieves a 9.92% return, which is significantly higher than IUSE.L's 8.30% return. Over the past 10 years, UC13.L has outperformed IUSE.L with an annualized return of 14.50%, while IUSE.L has yielded a comparatively lower 13.58% annualized return.

UC13.L

1D
-0.02%
1M
5.52%
YTD
9.92%
6M
9.83%
1Y
27.83%
3Y*
17.70%
5Y*
13.62%
10Y*
14.50%

IUSE.L

1D
0.13%
1M
4.62%
YTD
8.30%
6M
8.64%
1Y
28.00%
3Y*
19.65%
5Y*
11.26%
10Y*
13.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UC13.L vs. IUSE.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UC13.L
UBS Core S&P 500 UCITS ETF USD dis		9.92%8.39%25.77%18.14%-10.01%29.47%11.81%24.42%-1.52%8.98%
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		8.30%21.10%17.60%20.60%-17.10%20.27%21.31%19.17%-7.49%24.12%

Correlation

The correlation between UC13.L and IUSE.L is 0.78, 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

0.78

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (10Y)
Calculated over the trailing 10-year period

0.80

Correlation (All Time)
Calculated using the full available price history since May 14, 2013

0.79

The correlation between UC13.L and IUSE.L has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

UC13.L vs. IUSE.L - Sectors Allocation Comparison

Sectors
UC13.L
IUSE.L

Technology

37.9%
35.6%

Financial Services

11.3%
11.8%

Communication Services

10.9%
11.2%

Consumer Cyclical

9.8%
10.1%

Healthcare

8.3%
8.5%

Industrials

7.8%
8.3%

Consumer Defensive

4.8%
4.9%

Energy

3.4%
3.5%

Utilities

2.2%
2.3%

Real Estate

1.9%
1.9%

Basic Materials

1.7%
1.8%

Technology

UC13.L
37.9%
IUSE.L
35.6%

Financial Services

UC13.L
11.3%
IUSE.L
11.8%

Communication Services

UC13.L
10.9%
IUSE.L
11.2%

Consumer Cyclical

UC13.L
9.8%
IUSE.L
10.1%

Healthcare

UC13.L
8.3%
IUSE.L
8.5%

Industrials

UC13.L
7.8%
IUSE.L
8.3%

Consumer Defensive

UC13.L
4.8%
IUSE.L
4.9%

Energy

UC13.L
3.4%
IUSE.L
3.5%

Utilities

UC13.L
2.2%
IUSE.L
2.3%

Real Estate

UC13.L
1.9%
IUSE.L
1.9%

Basic Materials

UC13.L
1.7%
IUSE.L
1.8%

Compare stocks, funds, or ETFs

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UBS Core S&P 500 UCITS ETF USD dis

iShares S&P 500 EUR Hedged UCITS ETF Acc

Often compared with UC13.L:
UC13.L vs. VUSA.LUC13.L vs. CSPX.LUC13.L vs. VOOUC13.L vs. SPXP.LUC13.L vs. SPYUC13.L vs. XDPG.LUC13.L vs. I500.L
Often compared with IUSE.L:
IUSE.L vs. EXS1.DEIUSE.L vs. CEMS.DEIUSE.L vs. IBCK.DEIUSE.L vs. IBCF.DEIUSE.L vs. SPYIUSE.L vs. SNAW.DEIUSE.L vs. SXR8.DE

Return for Risk

UC13.L vs. IUSE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UC13.L
UC13.L Risk / Return Rank: 7777
Overall Rank
UC13.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
UC13.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
UC13.L Omega Ratio Rank: 8484
Omega Ratio Rank
UC13.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
UC13.L Martin Ratio Rank: 6969
Martin Ratio Rank
IUSE.L
IUSE.L Risk / Return Rank: 6565
Overall Rank
IUSE.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUSE.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
IUSE.L Omega Ratio Rank: 6565
Omega Ratio Rank
IUSE.L Calmar Ratio Rank: 5858
Calmar Ratio Rank
IUSE.L Martin Ratio Rank: 6767
Martin Ratio Rank
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.

UC13.L vs. IUSE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Core S&P 500 UCITS ETF USD dis (UC13.L) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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.

UC13.LIUSE.LDifference
Sharpe ratioReturn per unit of total volatility
2.65
2.41

+0.24

Sortino ratioReturn per unit of downside risk
3.55
3.48

+0.07

Omega ratioGain probability vs. loss probability

1.50

1.43

+0.07

Calmar ratioReturn relative to maximum drawdown

3.54

3.12

+0.42

Martin ratioReturn relative to average drawdown

12.58

12.61

-0.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UC13.L vs. IUSE.L - Sharpe Ratio Comparison

The current UC13.L Sharpe Ratio is 2.65, which is comparable to the IUSE.L Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of UC13.L and IUSE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UC13.LIUSE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.65

2.41

+0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.70

+0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.93

0.82

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.89

0.75

+0.13

Drawdowns

UC13.L vs. IUSE.L - Drawdown Comparison

The maximum UC13.L drawdown since its inception was -25.59%, smaller than the maximum IUSE.L drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for UC13.L and IUSE.L.

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Drawdown Indicators

UC13.LIUSE.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.59%

-27.56%

+1.97%

Max Drawdown (1Y)

Largest decline over 1 year

-7.82%

-8.92%

+1.10%

Max Drawdown (3Y)

Largest decline over 3 years

-21.52%

-17.08%

-4.44%

Max Drawdown (5Y)

Largest decline over 5 years

-21.52%

-23.84%

+2.32%

Max Drawdown (10Y)

Largest decline over 10 years

-25.59%

-27.56%

+1.97%

Current Drawdown

Current decline from peak

-0.24%

-0.37%

+0.13%

Average Drawdown

Average peak-to-trough decline

-3.55%

-5.11%

+1.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.21%

2.22%

-0.01%

Volatility

UC13.L vs. IUSE.L - Volatility Comparison

The current volatility for UBS Core S&P 500 UCITS ETF USD dis (UC13.L) is 2.63%, while iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a volatility of 3.55%. This indicates that UC13.L experiences smaller price fluctuations and is considered to be less risky than IUSE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UC13.LIUSE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

3.55%

-0.92%

Volatility (6M)

Calculated over the trailing 6-month period

7.11%

8.55%

-1.44%

Volatility (1Y)

Calculated over the trailing 1-year period

10.47%

11.59%

-1.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.45%

15.96%

-1.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.72%

16.56%

-0.84%

UC13.L vs. IUSE.L - Expense Ratio Comparison

UC13.L has a 0.03% expense ratio, which is lower than IUSE.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UC13.L vs. IUSE.L - Dividend Comparison

UC13.L's dividend yield for the trailing twelve months is around 0.01%, while IUSE.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UC13.L
UBS Core S&P 500 UCITS ETF USD dis		0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.02%0.02%0.02%0.02%

Frequently Asked Questions

UC13.L and IUSE.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, UC13.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UC13.L is cheaper with a 0.03% expense ratio, compared with 0.20% for IUSE.L.

UC13.L tracks S&P 500 Index, while IUSE.L tracks S&P 500 EUR Hedged Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.03% for UC13.L and 0.20% for IUSE.L.

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