UC63.L vs. UBTL.L

Last updated Jun 5, 2026

UC63.L (UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis) and UBTL.L (UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis) are both exchange-traded funds - UC63.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while UBTL.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked US TIPS TR USD. Both are passively managed. Over the past 5 years, UC63.L returned 12.25%/yr vs -4.40%/yr for UBTL.L. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.20% expense ratio.

Performance

UC63.L vs. UBTL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) and UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UC63.L achieves a 5.83% return, which is significantly higher than UBTL.L's -0.05% return.

UC63.L

• 1D: 0.09%
• 1M: -0.61%
• YTD: 5.83%
• 6M: 8.68%
• 1Y: 21.55%
• 3Y*: 14.65%
• 5Y*: 12.25%
• 10Y*: 8.91%

UBTL.L

• 1D: 0.19%
• 1M: 1.43%
• YTD: -0.05%
• 6M: -0.86%
• 1Y: 5.22%
• 3Y*: -3.66%
• 5Y*: -4.40%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UC63.L vs. UBTL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UC63.L UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis	5.83%	25.75%	9.16%	6.95%	7.38%	19.00%	-13.55%	16.32%	-9.35%	12.54%
UBTL.L UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis	-0.05%	-2.86%	-3.20%	-5.34%	-24.00%	9.31%	19.40%	13.92%	0.17%	-2.13%

Correlation

The correlation between UC63.L and UBTL.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Nov 28, 2016	-0.01

The correlation between UC63.L and UBTL.L shifts across timeframes, from -0.01 (5 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

UC63.L vs. UBTL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UC63.L

UC63.L Risk / Return Rank: 55
UC63.L Sharpe Ratio Rank: 58
UC63.L Sortino Ratio Rank: 57
UC63.L Omega Ratio Rank: 60
UC63.L Calmar Ratio Rank: 49
UC63.L Martin Ratio Rank: 49

UBTL.L

UBTL.L Risk / Return Rank: 17
UBTL.L Sharpe Ratio Rank: 18
UBTL.L Sortino Ratio Rank: 18
UBTL.L Omega Ratio Rank: 17
UBTL.L Calmar Ratio Rank: 17
UBTL.L Martin Ratio Rank: 15

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.

UC63.L vs. UBTL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) and UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.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.

	UC63.L	UBTL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.93	0.54	+1.39
Sortino ratio: Return per unit of downside risk	2.67	0.85	+1.82
Omega ratio: Gain probability vs. loss probability	1.36	1.10	+0.27
Calmar ratio: Return relative to maximum drawdown	2.39	0.64	+1.75
Martin ratio: Return relative to average drawdown	8.18	1.25	+6.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UC63.L vs. UBTL.L - Sharpe Ratio Comparison

The current UC63.L Sharpe Ratio is 1.93, which is higher than the UBTL.L Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of UC63.L and UBTL.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.

Sharpe Ratios by Period

	UC63.L	UBTL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	0.54	+1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	-0.29	+1.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	-0.01	+0.49

Drawdowns

UC63.L vs. UBTL.L - Drawdown Comparison

The maximum UC63.L drawdown since its inception was -34.55%, smaller than the maximum UBTL.L drawdown of -38.66%. Use the drawdown chart below to compare losses from any high point for UC63.L and UBTL.L.

Drawdown Indicators

	UC63.L	UBTL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.55%	-38.66%	+4.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-7.89%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-12.95%	-16.09%	+3.14%
Max Drawdown (5Y) Largest decline over 5 years	-12.95%	-38.66%	+25.71%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	—	—
Current Drawdown Current decline from peak	-4.19%	-34.41%	+30.22%
Average Drawdown Average peak-to-trough decline	-4.76%	-16.79%	+12.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	4.09%	-1.44%

Volatility

UC63.L vs. UBTL.L - Volatility Comparison

UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) has a higher volatility of 4.04% compared to UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis (UBTL.L) at 2.36%. This indicates that UC63.L's price experiences larger fluctuations and is considered to be riskier than UBTL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UC63.L	UBTL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	2.36%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	6.17%	+3.55%
Volatility (1Y) Calculated over the trailing 1-year period	11.19%	9.40%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.88%	15.23%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	15.34%	-0.23%

UC63.L vs. UBTL.L - Expense Ratio Comparison

Both UC63.L and UBTL.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

UC63.L vs. UBTL.L - Dividend Comparison

UC63.L's dividend yield for the trailing twelve months is around 2.87%, less than UBTL.L's 6.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UBTL.L UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (USD) A-dis	6.15%	5.34%	5.57%	6.49%	8.27%	2.56%	0.73%	2.60%	2.29%	1.99%	0.00%	0.00%
UC63.L UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis	2.87%	2.73%	3.12%	3.69%	3.71%	3.22%	3.86%	4.21%	3.55%	4.46%	2.14%	4.44%

Frequently Asked Questions

Can I hold both UC63.L and UBTL.L in my portfolio?

UC63.L and UBTL.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UC63.L or UBTL.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UC63.L or UBTL.L?

UC63.L and UBTL.L have the same expense ratio: 0.20% per year.

What is the main difference between UC63.L and UBTL.L?

UC63.L is categorized as Europe Equities, while UBTL.L is Inflation-Protected Bonds. UC63.L tracks FTSE AllSh TR GBP, while UBTL.L tracks Bloomberg Gbl Infl Linked US TIPS TR USD.