UC81.L vs. SUSD.L
UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) and SUSD.L (SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF) are both Corporate Bonds funds tracking the Bloomberg US Corp 1-3 Yr TR USD, from UBS and State Street respectively. Both are passively managed. Over the past 10 years, UC81.L returned 3.31%/yr vs 3.36%/yr for SUSD.L. With a 0.96 correlation, they move nearly in lockstep. UC81.L charges 0.18%/yr vs 0.12%/yr for SUSD.L.
Performance
UC81.L vs. SUSD.L - Performance Comparison
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Different Trading Currencies
UC81.L is traded in GBp, while SUSD.L is traded in GBP. To make them comparable, the SUSD.L 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 SUSD.L's 1.34% return. Both investments have delivered pretty close results over the past 10 years, with UC81.L having a 3.31% annualized return and SUSD.L not far ahead at 3.36%.
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%
SUSD.L
- 1D
- 0.05%
- 1M
- 1.28%
- YTD
- 1.34%
- 6M
- 0.97%
- 1Y
- 5.41%
- 3Y*
- 2.52%
- 5Y*
- 4.04%
- 10Y*
- 3.36%
UC81.L vs. SUSD.L - 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% |
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 1.34% | -1.69% | 7.18% | -0.46% | 9.68% | 1.10% | -0.39% | 1.34% | 7.32% | -7.71% |
Correlation
The correlation between UC81.L and SUSD.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.96 |
The correlation between UC81.L and SUSD.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
UC81.L vs. SUSD.L — Risk / Return Rank
UC81.L
SUSD.L
UC81.L vs. SUSD.L - 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 0-3 Year US Corporate Bond UCITS ETF (SUSD.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.
| UC81.L | SUSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.26 | -0.02 |
| Martin ratioReturn relative to average drawdown | 3.19 | 3.31 | -0.12 |
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 | SUSD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.87 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.49 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.37 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.40 | +0.03 |
Drawdowns
UC81.L vs. SUSD.L - Drawdown Comparison
The maximum UC81.L drawdown since its inception was -14.94%, roughly equal to the maximum SUSD.L drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for UC81.L and SUSD.L.
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Drawdown Indicators
| UC81.L | SUSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.94% | -15.18% | +0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -4.27% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -9.03% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -15.18% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | -15.18% | +0.24% |
Current DrawdownCurrent decline from peak | -2.57% | -3.84% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -5.84% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.63% | +0.04% |
Volatility
UC81.L vs. SUSD.L - 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 0-3 Year US Corporate Bond UCITS ETF (SUSD.L) has a volatility of 1.75%. This indicates that UC81.L experiences smaller price fluctuations and is considered to be less risky than SUSD.L 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 | SUSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.75% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.27% | 4.50% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 6.19% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 8.17% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 9.23% | -0.07% |
UC81.L vs. SUSD.L - Expense Ratio Comparison
UC81.L has a 0.18% expense ratio, which is higher than SUSD.L's 0.12% 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. SUSD.L - Dividend Comparison
UC81.L's dividend yield for the trailing twelve months is around 4.67%, more than SUSD.L's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUSD.L SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF | 4.60% | 4.91% | 4.20% | 3.11% | 1.14% | 1.80% | 2.77% | 2.57% | 1.66% | 1.74% | 1.28% | 1.00% |
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
With a correlation of 0.96, UC81.L and SUSD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SUSD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUSD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for UC81.L.
Both ETFs track Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: UBS and State Street. Their fees differ too: 0.18% for UC81.L and 0.12% for SUSD.L.
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