UC81.L vs. GSG
UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - UC81.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, UC81.L returned 3.31%/yr vs 7.99%/yr for GSG. At a 0.18 correlation, their price movements are largely independent. UC81.L charges 0.18%/yr vs 0.75%/yr for GSG.
Performance
UC81.L vs. GSG - Performance Comparison
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Different Trading Currencies
UC81.L is traded in GBp, while GSG is traded in USD. To make them comparable, the GSG 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 GSG's 38.37% return. Over the past 10 years, UC81.L has underperformed GSG with an annualized return of 3.31%, while GSG has yielded a comparatively higher 7.99% annualized return.
UC81.L
- 1D
- 0.17%
- 1M
- 1.15%
- YTD
- 0.48%
- 6M
- 0.05%
- 1Y
- 5.60%
- 3Y*
- 2.64%
- 5Y*
- 3.20%
- 10Y*
- 3.31%
GSG
- 1D
- -1.86%
- 1M
- -1.98%
- YTD
- 38.37%
- 6M
- 33.54%
- 1Y
- 47.71%
- 3Y*
- 14.94%
- 5Y*
- 16.20%
- 10Y*
- 7.99%
UC81.L vs. GSG - 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% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.37% | -1.62% | 10.42% | -10.23% | 38.83% | 40.08% | -26.17% | 11.22% | -8.78% | -5.09% |
Correlation
The correlation between UC81.L and GSG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.18 |
The correlation between UC81.L and GSG shifts across timeframes, from 0.14 (5 years) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UC81.L vs. GSG — Risk / Return Rank
UC81.L
GSG
UC81.L vs. GSG - 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 iShares S&P GSCI Commodity-Indexed Trust (GSG). 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 | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.35 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 4.23 | -2.99 |
| Martin ratioReturn relative to average drawdown | 3.19 | 11.66 | -8.47 |
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
| UC81.L | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.90 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.71 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.35 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.03 | +0.40 |
Drawdowns
UC81.L vs. GSG - Drawdown Comparison
The maximum UC81.L drawdown since its inception was -14.94%, smaller than the maximum GSG drawdown of -83.41%. Use the drawdown chart below to compare losses from any high point for UC81.L and GSG.
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Drawdown Indicators
| UC81.L | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -83.41% | +68.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -11.34% | +7.05% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -19.35% | +11.34% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -29.97% | +15.66% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -55.85% | +40.91% |
Current DrawdownCurrent decline from peak | -2.57% | -38.45% | +35.88% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -54.98% | +49.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 4.10% | -2.43% |
Volatility
UC81.L vs. GSG - 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 iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.41%. This indicates that UC81.L experiences smaller price fluctuations and is considered to be less risky than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC81.L | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 7.41% | -5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 4.27% | 22.16% | -17.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 25.26% | -19.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 22.96% | -15.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 22.63% | -13.47% |
UC81.L vs. GSG - Expense Ratio Comparison
UC81.L has a 0.18% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
UC81.L vs. GSG - Dividend Comparison
UC81.L's dividend yield for the trailing twelve months is around 4.67%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 GSG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC81.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC81.L is cheaper with a 0.18% expense ratio, compared with 0.75% for GSG.
UC81.L is categorized as Corporate Bonds, while GSG is Commodities. UC81.L tracks Bloomberg US Corp 1-3 Yr TR USD, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.18% for UC81.L and 0.75% for GSG.
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