UC84.L vs. XZBU.L

Last updated Jun 5, 2026

UC84.L (UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis) and XZBU.L (Xtrackers USD Corporate Bond SRI PAB UCITS ETF 1C) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from UBS and Xtrackers respectively. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. UC84.L charges 0.18%/yr vs 0.16%/yr for XZBU.L.

Performance

UC84.L vs. XZBU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.L) and Xtrackers USD Corporate Bond SRI PAB UCITS ETF 1C (XZBU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UC84.L is traded in GBp, while XZBU.L is traded in GBP. To make them comparable, the XZBU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

UC84.L

• 1D: 0.23%
• 1M: 1.54%
• YTD: 0.32%
• 6M: -0.15%
• 1Y: 6.36%
• 3Y*: 2.40%
• 5Y*: 1.22%
• 10Y*: 3.15%

XZBU.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UC84.L vs. XZBU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis	0.32%	0.41%	3.96%	2.43%	-7.77%	-0.84%	-2.71%
XZBU.L Xtrackers USD Corporate Bond SRI PAB UCITS ETF 1C	34.27%	0.67%	2.68%	2.98%	-8.73%	-0.87%	-2.84%

Correlation

The correlation between UC84.L and XZBU.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020	0.97

The correlation between UC84.L and XZBU.L has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

UC84.L vs. XZBU.L — Risk / Return Rank

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

UC84.L

UC84.L Risk / Return Rank: 28
UC84.L Sharpe Ratio Rank: 30
UC84.L Sortino Ratio Rank: 30
UC84.L Omega Ratio Rank: 28
UC84.L Calmar Ratio Rank: 27
UC84.L Martin Ratio Rank: 25

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.

UC84.L vs. XZBU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.L) and Xtrackers USD Corporate Bond SRI PAB UCITS ETF 1C (XZBU.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.

	UC84.L	XZBU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.58	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.31	—	—
Martin ratio: Return relative to average drawdown	3.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UC84.L	XZBU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	—	—

Drawdowns

Drawdown Indicators

	UC84.L	XZBU.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.73%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.83%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.73%	—	—
Current Drawdown Current decline from peak	-8.33%	—	—
Average Drawdown Average peak-to-trough decline	-8.19%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	—	—

Volatility

Volatility by Period

	UC84.L	XZBU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.08%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.08%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.40%	—	—

UC84.L vs. XZBU.L - Expense Ratio Comparison

UC84.L has a 0.18% expense ratio, which is higher than XZBU.L's 0.16% 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

UC84.L vs. XZBU.L - Dividend Comparison

UC84.L's dividend yield for the trailing twelve months is around 5.52%, while XZBU.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis	5.52%	4.82%	4.55%	4.27%	2.69%	2.28%	3.02%	3.48%	3.37%	2.98%	3.21%	1.40%
XZBU.L Xtrackers USD Corporate Bond SRI PAB UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UC84.L and XZBU.L in my portfolio?

With a correlation of 0.90, UC84.L and XZBU.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.

Which ETF is better, UC84.L or XZBU.L?

On fees, XZBU.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UC84.L or XZBU.L?

XZBU.L is cheaper with a 0.16% expense ratio, compared with 0.18% for UC84.L.

What is the main difference between UC84.L and XZBU.L?

Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.18% for UC84.L and 0.16% for XZBU.L.