UC15.L vs. TLH
UC15.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) and TLH (iShares 10-20 Year Treasury Bond ETF) are both exchange-traded funds - UC15.L is a Commodities fund tracking the UBS CMCI, while TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index. Both are passively managed. Over the past 10 years, UC15.L returned 9.68%/yr vs -0.01%/yr for TLH. At a 0.06 correlation, their price movements are largely independent. UC15.L charges 0.34%/yr vs 0.15%/yr for TLH.
Performance
UC15.L vs. TLH - Performance Comparison
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Different Trading Currencies
UC15.L is traded in GBp, while TLH is traded in USD. To make them comparable, the TLH values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC15.L achieves a 21.49% return, which is significantly higher than TLH's 0.05% return. Over the past 10 years, UC15.L has outperformed TLH with an annualized return of 9.68%, while TLH has yielded a comparatively lower -0.01% annualized return.
UC15.L
- 1D
- -1.31%
- 1M
- 0.83%
- YTD
- 21.49%
- 6M
- 20.94%
- 1Y
- 31.35%
- 3Y*
- 10.32%
- 5Y*
- 12.77%
- 10Y*
- 9.68%
TLH
- 1D
- 0.00%
- 1M
- 0.86%
- YTD
- 0.05%
- 6M
- -1.10%
- 1Y
- 5.35%
- 3Y*
- -2.00%
- 5Y*
- -2.74%
- 10Y*
- -0.01%
UC15.L vs. TLH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc | 21.49% | 2.57% | 6.44% | -6.52% | 29.97% | 36.11% | -2.49% | 5.31% | -5.25% | -2.80% |
TLH iShares 10-20 Year Treasury Bond ETF | 0.05% | -1.12% | -2.54% | -1.17% | -16.35% | -4.48% | 10.43% | 5.92% | 6.32% | -4.80% |
Correlation
The correlation between UC15.L and TLH is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2013 | 0.06 |
The correlation between UC15.L and TLH shifts across timeframes, from -0.06 (5 years) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UC15.L vs. TLH — Risk / Return Rank
UC15.L
TLH
UC15.L vs. TLH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) and iShares 10-20 Year Treasury Bond ETF (TLH). 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.
| UC15.L | TLH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.11 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 0.79 | +4.44 |
| Martin ratioReturn relative to average drawdown | 13.93 | 1.70 | +12.23 |
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
| UC15.L | TLH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 0.63 | +1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | -0.20 | +1.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | -0.00 | +0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.37 | -0.04 |
Drawdowns
UC15.L vs. TLH - Drawdown Comparison
The maximum UC15.L drawdown since its inception was -42.93%, roughly equal to the maximum TLH drawdown of -42.25%. Use the drawdown chart below to compare losses from any high point for UC15.L and TLH.
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Drawdown Indicators
| UC15.L | TLH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.93% | -42.25% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -6.18% | -6.82% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -12.85% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -17.43% | -29.52% | +12.09% |
Max Drawdown (10Y)Largest decline over 10 years | -30.26% | -42.25% | +11.99% |
Current DrawdownCurrent decline from peak | -3.53% | -37.59% | +34.06% |
Average DrawdownAverage peak-to-trough decline | -15.17% | -14.94% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 3.16% | -0.84% |
Volatility
UC15.L vs. TLH - Volatility Comparison
UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) has a higher volatility of 5.07% compared to iShares 10-20 Year Treasury Bond ETF (TLH) at 1.97%. This indicates that UC15.L's price experiences larger fluctuations and is considered to be riskier than TLH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC15.L | TLH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.97% | +3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 12.34% | 6.34% | +6.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 8.57% | +6.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 13.58% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.80% | 13.80% | +1.00% |
UC15.L vs. TLH - Expense Ratio Comparison
UC15.L has a 0.34% expense ratio, which is higher than TLH's 0.15% expense ratio.
Dividends
UC15.L vs. TLH - Dividend Comparison
UC15.L has not paid dividends to shareholders, while TLH's dividend yield for the trailing twelve months is around 4.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | 4.50% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-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% |
Frequently Asked Questions
UC15.L and TLH have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLH is cheaper with a 0.15% expense ratio, compared with 0.34% for UC15.L.
UC15.L is categorized as Commodities, while TLH is Government Bonds. UC15.L tracks UBS CMCI, while TLH tracks ICE U.S. Treasury 10-20 Year Bond Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.34% for UC15.L and 0.15% for TLH.
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