UC81.L vs. BIL
UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - UC81.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, UC81.L returned 3.31%/yr vs 2.94%/yr for BIL. A 0.76 correlation means they provide meaningful diversification when combined. UC81.L charges 0.18%/yr vs 0.14%/yr for BIL.
Performance
UC81.L vs. BIL - Performance Comparison
Loading charts...
Different Trading Currencies
UC81.L is traded in GBp, while BIL is traded in USD. To make them comparable, the BIL values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC81.L achieves a 0.48% return, which is significantly lower than BIL's 1.90% return. Over the past 10 years, UC81.L has outperformed BIL with an annualized return of 3.31%, while BIL has yielded a comparatively lower 2.94% annualized return.
UC81.L
- 1D
- 0.17%
- 1M
- 1.13%
- YTD
- 0.48%
- 6M
- 0.19%
- 1Y
- 5.34%
- 3Y*
- 2.64%
- 5Y*
- 3.20%
- 10Y*
- 3.31%
BIL
- 1D
- 0.00%
- 1M
- 1.19%
- YTD
- 1.90%
- 6M
- 1.05%
- 1Y
- 4.88%
- 3Y*
- 2.01%
- 5Y*
- 4.53%
- 10Y*
- 2.94%
UC81.L vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 0.48% | -0.20% | 6.44% | 0.38% | 4.76% | 0.32% | 1.51% | 4.23% | 6.12% | -6.53% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.90% | -3.27% | 7.03% | -0.30% | 13.46% | 0.85% | -2.55% | -1.85% | 7.77% | -8.02% |
Correlation
The correlation between UC81.L and BIL is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.76 |
The correlation between UC81.L and BIL has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UC81.L vs. BIL — Risk / Return Rank
UC81.L
BIL
UC81.L vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.
| UC81.L | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 0.94 | +0.29 |
| Martin ratioReturn relative to average drawdown | 3.19 | 2.56 | +0.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| UC81.L | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.74 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.53 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.31 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.37 | +0.06 |
Drawdowns
UC81.L vs. BIL - Drawdown Comparison
The maximum UC81.L drawdown since its inception was -14.94%, smaller than the maximum BIL drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for UC81.L and BIL.
Loading charts...
Drawdown Indicators
| UC81.L | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -20.05% | +5.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -5.19% | +0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -9.84% | +1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -15.90% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -19.34% | +4.40% |
Current DrawdownCurrent decline from peak | -2.57% | -6.26% | +3.69% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -9.41% | +3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.91% | -0.24% |
Volatility
UC81.L vs. BIL - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) is 1.51%, while SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) has a volatility of 1.78%. This indicates that UC81.L experiences smaller price fluctuations and is considered to be less risky than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UC81.L | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.78% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.27% | 5.00% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 6.60% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 8.56% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 9.49% | -0.33% |
UC81.L vs. BIL - Expense Ratio Comparison
UC81.L has a 0.18% expense ratio, which is higher than BIL's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UC81.L vs. BIL - Dividend Comparison
UC81.L's dividend yield for the trailing twelve months is around 4.67%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 4.67% | 5.59% | 4.77% | 3.28% | 1.36% | 1.58% | 2.75% | 2.90% | 2.20% | 2.16% | 1.86% | 0.84% |
Frequently Asked Questions
UC81.L and BIL have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BIL is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BIL is cheaper with a 0.14% expense ratio, compared with 0.18% for UC81.L.
UC81.L is categorized as Corporate Bonds, while BIL is Government Bonds. UC81.L tracks Bloomberg US Corp 1-3 Yr TR USD, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: UBS and State Street. Their fees differ too: 0.18% for UC81.L and 0.14% for BIL.
Find the right allocation for UC81.L and BIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer