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UC44.L vs. UB32.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UC44.L vs. UB32.L

Last updated Jun 5, 2026

UC44.L (UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis) and UB32.L (UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis) are both exchange-traded funds - UC44.L is a Global Equities fund tracking the MSCI ACWI NR USD, while UB32.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, UC44.L returned 13.02%/yr vs 11.02%/yr for UB32.L. A 0.61 correlation means they provide meaningful diversification when combined. UC44.L charges 0.22%/yr vs 0.23%/yr for UB32.L.

Performance

UC44.L vs. UB32.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) and UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UB32.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UC44.L achieves a 9.19% return, which is significantly lower than UB32.L's 26.16% return. Over the past 10 years, UC44.L has outperformed UB32.L with an annualized return of 13.02%, while UB32.L has yielded a comparatively lower 11.02% annualized return.

UC44.L

1D
0.39%
1M
6.87%
YTD
9.19%
6M
9.44%
1Y
20.96%
3Y*
14.50%
5Y*
10.84%
10Y*
13.02%

UB32.L

1D
-1.51%
1M
6.18%
YTD
26.16%
6M
28.70%
1Y
54.13%
3Y*
21.10%
5Y*
8.64%
10Y*
11.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UC44.L vs. UB32.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UC44.L
UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis		9.19%5.87%18.30%22.09%-15.47%26.34%14.89%24.15%-2.54%12.60%
UB32.L
UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis		26.16%26.36%8.34%3.61%-10.46%-1.87%13.90%13.43%-9.29%24.98%

Correlation

The correlation between UC44.L and UB32.L is 0.64, 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

0.64

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

0.55

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

0.55

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

0.66

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

0.61

The correlation between UC44.L and UB32.L shifts across timeframes, from 0.55 (5 years) to 0.66 (10 years), reflecting how their relationship changes across market environments.

UC44.L vs. UB32.L - Sectors Allocation Comparison

Sectors
UC44.L
UB32.L

Technology

36.3%
37.1%

Financial Services

16.1%
19.6%

Industrials

12.0%
7.3%

Consumer Cyclical

10.9%
9.5%

Healthcare

8.9%
2.9%

Consumer Defensive

5.5%
3.0%

Communication Services

3.9%
7.0%

Basic Materials

3.0%
6.5%

Real Estate

2.5%
1.1%

Utilities

0.9%
2.1%

Energy

0.0%
4.1%

Technology

UC44.L
36.3%
UB32.L
37.1%

Financial Services

UC44.L
16.1%
UB32.L
19.6%

Industrials

UC44.L
12.0%
UB32.L
7.3%

Consumer Cyclical

UC44.L
10.9%
UB32.L
9.5%

Healthcare

UC44.L
8.9%
UB32.L
2.9%

Consumer Defensive

UC44.L
5.5%
UB32.L
3.0%

Communication Services

UC44.L
3.9%
UB32.L
7.0%

Basic Materials

UC44.L
3.0%
UB32.L
6.5%

Real Estate

UC44.L
2.5%
UB32.L
1.1%

Utilities

UC44.L
0.9%
UB32.L
2.1%

Energy

UC44.L
0.0%
UB32.L
4.1%

Compare stocks, funds, or ETFs

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UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis

UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis

Often compared with UC44.L:
UC44.L vs. SRIW.LUC44.L vs. V3AB.LUC44.L vs. VWRP.LUC44.L vs. ^GSPCUC44.L vs. SEMC.LUC44.L vs. EUFM.LUC44.L vs. UBTL.L
Often compared with UB32.L:
UB32.L vs. AVEMUB32.L vs. UC99.LUB32.L vs. EUFM.LUB32.L vs. PRAM.LUB32.L vs. UC63.LUB32.L vs. 5ESG.LUB32.L vs. FEM.L

Return for Risk

UC44.L vs. UB32.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UC44.L
UC44.L Risk / Return Rank: 5151
Overall Rank
UC44.L Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
UC44.L Sortino Ratio Rank: 5555
Sortino Ratio Rank
UC44.L Omega Ratio Rank: 5454
Omega Ratio Rank
UC44.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
UC44.L Martin Ratio Rank: 4747
Martin Ratio Rank
UB32.L
UB32.L Risk / Return Rank: 9090
Overall Rank
UB32.L Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
UB32.L Sortino Ratio Rank: 9090
Sortino Ratio Rank
UB32.L Omega Ratio Rank: 9191
Omega Ratio Rank
UB32.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
UB32.L Martin Ratio Rank: 8787
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.

UC44.L vs. UB32.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 (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UB32.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.

UC44.LUB32.LDifference
Sharpe ratioReturn per unit of total volatility
1.81
3.25

-1.43

Sortino ratioReturn per unit of downside risk
2.58
4.15

-1.57

Omega ratioGain probability vs. loss probability

1.33

1.59

-0.26

Calmar ratioReturn relative to maximum drawdown

2.17

5.17

-3.00

Martin ratioReturn relative to average drawdown

7.73

18.40

-10.67

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

UC44.L vs. UB32.L - Sharpe Ratio Comparison

The current UC44.L Sharpe Ratio is 1.81, which is lower than the UB32.L Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of UC44.L and UB32.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

UC44.LUB32.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.81

3.25

-1.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

0.55

+0.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

0.61

+0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.50

+0.28

Drawdowns

UC44.L vs. UB32.L - Drawdown Comparison

The maximum UC44.L drawdown since its inception was -24.11%, smaller than the maximum UB32.L drawdown of -30.25%. Use the drawdown chart below to compare losses from any high point for UC44.L and UB32.L.

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Drawdown Indicators

UC44.LUB32.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.11%

-30.25%

+6.14%

Max Drawdown (1Y)

Largest decline over 1 year

-9.61%

-10.68%

+1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-20.15%

-14.80%

-5.35%

Max Drawdown (5Y)

Largest decline over 5 years

-22.39%

-23.87%

+1.48%

Max Drawdown (10Y)

Largest decline over 10 years

-24.11%

-27.71%

+3.60%

Current Drawdown

Current decline from peak

0.00%

-2.44%

+2.44%

Average Drawdown

Average peak-to-trough decline

-4.52%

-9.93%

+5.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.71%

2.98%

-0.27%

Volatility

UC44.L vs. UB32.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) is 3.13%, while UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UB32.L) has a volatility of 7.38%. This indicates that UC44.L experiences smaller price fluctuations and is considered to be less risky than UB32.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.LUB32.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.13%

7.38%

-4.25%

Volatility (6M)

Calculated over the trailing 6-month period

8.72%

14.38%

-5.66%

Volatility (1Y)

Calculated over the trailing 1-year period

11.50%

17.01%

-5.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.43%

16.51%

-2.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.93%

18.53%

-3.60%

UC44.L vs. UB32.L - Expense Ratio Comparison

UC44.L has a 0.22% expense ratio, which is lower than UB32.L's 0.23% 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

UC44.L vs. UB32.L - Dividend Comparison

UC44.L's dividend yield for the trailing twelve months is around 0.86%, less than UB32.L's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
UB32.L
UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis		1.70%2.25%2.16%2.64%2.74%1.71%1.75%2.29%1.98%1.65%2.36%2.69%
UC44.L
UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis		0.86%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 UB32.L have a correlation of 0.64, 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 0.23% for UB32.L.

UC44.L is categorized as Global Equities, while UB32.L is Emerging Markets Equities. UC44.L tracks MSCI ACWI NR USD, while UB32.L tracks MSCI EM NR USD. Their fees differ too: 0.22% for UC44.L and 0.23% for UB32.L.

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