UC44.L vs. CXAP.L
UC44.L (UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis) and CXAP.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) are both exchange-traded funds - UC44.L is a Global Equities fund tracking the MSCI ACWI NR USD, while CXAP.L is a Commodities fund tracking the UBS CMCI Ex Agriculture Ex Livestock Capped. Both are passively managed. Over the past 10 years, UC44.L returned 13.05%/yr vs 10.07%/yr for CXAP.L. At a 0.28 correlation, their price movements are largely independent. UC44.L charges 0.22%/yr vs 0.34%/yr for CXAP.L.
Performance
UC44.L vs. CXAP.L - Performance Comparison
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Returns By Period
In the year-to-date period, UC44.L achieves a 10.92% return, which is significantly lower than CXAP.L's 16.07% return. Over the past 10 years, UC44.L has outperformed CXAP.L with an annualized return of 13.05%, while CXAP.L has yielded a comparatively lower 10.07% annualized return.
UC44.L
- 1D
- -0.19%
- 1M
- 3.45%
- YTD
- 10.92%
- 6M
- 10.81%
- 1Y
- 22.80%
- 3Y*
- 15.45%
- 5Y*
- 10.45%
- 10Y*
- 13.05%
CXAP.L
- 1D
- 0.63%
- 1M
- -6.92%
- YTD
- 16.07%
- 6M
- 16.35%
- 1Y
- 32.06%
- 3Y*
- 13.10%
- 5Y*
- 12.26%
- 10Y*
- 10.07%
UC44.L vs. CXAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC44.L UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis | 10.92% | 5.87% | 18.31% | 22.09% | -15.46% | 26.34% | 14.89% | 24.15% | -2.54% | 12.60% |
CXAP.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc | 16.07% | 10.65% | 8.67% | -10.60% | 27.69% | 36.79% | -4.93% | 7.15% | -1.01% | -0.27% |
Correlation
The correlation between UC44.L and CXAP.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since May 11, 2016 | 0.28 |
The correlation between UC44.L and CXAP.L shifts across timeframes, from -0.07 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UC44.L vs. CXAP.L — Risk / Return Rank
UC44.L
CXAP.L
UC44.L vs. CXAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) and UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (CXAP.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.
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.
| UC44.L | CXAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 3.40 | -1.04 |
| Martin ratioReturn relative to average drawdown | 8.38 | 13.89 | -5.50 |
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Drawdowns
UC44.L vs. CXAP.L - Drawdown Comparison
The maximum UC44.L drawdown since its inception was -52.68%, which is greater than CXAP.L's maximum drawdown of -31.30%. Use the drawdown chart below to compare losses from any high point for UC44.L and CXAP.L.
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Drawdown Indicators
| UC44.L | CXAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.68% | -31.30% | -21.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -9.37% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -20.15% | -15.43% | -4.72% |
Max Drawdown (5Y)Largest decline over 5 years | -22.39% | -21.53% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | -24.11% | -31.30% | +7.19% |
Current DrawdownCurrent decline from peak | -0.89% | -8.80% | +7.91% |
Average DrawdownAverage peak-to-trough decline | -8.72% | -8.19% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 2.30% | +0.41% |
Volatility
UC44.L vs. CXAP.L - Volatility Comparison
The current volatility for UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) is 3.87%, while UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (CXAP.L) has a volatility of 4.28%. This indicates that UC44.L experiences smaller price fluctuations and is considered to be less risky than CXAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC44.L | CXAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 4.28% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.35% | 13.12% | -3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 15.29% | -3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.52% | 16.30% | -1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 15.72% | -0.81% |
UC44.L vs. CXAP.L - Expense Ratio Comparison
UC44.L has a 0.22% expense ratio, which is lower than CXAP.L's 0.34% expense ratio.
Dividends
UC44.L vs. CXAP.L - Dividend Comparison
UC44.L's dividend yield for the trailing twelve months is around 0.85%, while CXAP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXAP.L UBS ETF (IE) CMCI ex-Agriculture 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% |
UC44.L UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis | 0.85% | 1.01% | 1.05% | 1.13% | 1.33% | 1.01% | 1.23% | 1.70% | 1.88% | 1.91% | 1.81% | 1.78% |
Frequently Asked Questions
UC44.L and CXAP.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC44.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC44.L is cheaper with a 0.22% expense ratio, compared with 0.34% for CXAP.L.
UC44.L is categorized as Global Equities, while CXAP.L is Commodities. UC44.L tracks MSCI ACWI NR USD, while CXAP.L tracks UBS CMCI Ex Agriculture Ex Livestock Capped. Their fees differ too: 0.22% for UC44.L and 0.34% for CXAP.L.
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