UC98.L vs. UC04.L
UC98.L (UBS ETF (LU) Bloomberg MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis) and UC04.L (UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis) are both exchange-traded funds - UC98.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while UC04.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 10 years, UC98.L returned 2.30%/yr vs 15.62%/yr for UC04.L. At a 0.30 correlation, their price movements are largely independent. UC98.L charges 0.20%/yr vs 0.14%/yr for UC04.L.
Performance
UC98.L vs. UC04.L - Performance Comparison
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Returns By Period
In the year-to-date period, UC98.L achieves a 2.66% return, which is significantly lower than UC04.L's 10.54% return. Over the past 10 years, UC98.L has underperformed UC04.L with an annualized return of 2.30%, while UC04.L has yielded a comparatively higher 15.62% annualized return.
UC98.L
- 1D
- 0.62%
- 1M
- 3.34%
- YTD
- 2.66%
- 6M
- 3.49%
- 1Y
- 8.23%
- 3Y*
- 3.76%
- 5Y*
- 1.03%
- 10Y*
- 2.30%
UC04.L
- 1D
- 0.93%
- 1M
- 1.32%
- YTD
- 10.54%
- 6M
- 10.67%
- 1Y
- 27.27%
- 3Y*
- 19.59%
- 5Y*
- 13.63%
- 10Y*
- 15.62%
UC98.L vs. UC04.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UC98.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis | 2.66% | 0.33% | 3.62% | 2.43% | -7.46% | -1.33% | 6.37% | 12.84% | 2.31% | -4.16% |
UC04.L UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis | 10.54% | 9.28% | 27.38% | 20.50% | -10.51% | 28.96% | 16.61% | 26.56% | -0.32% | 10.74% |
Correlation
The correlation between UC98.L and UC04.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2015 | 0.30 |
The correlation between UC98.L and UC04.L shifts across timeframes, from 0.22 (5 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UC98.L vs. UC04.L — Risk / Return Rank
UC98.L
UC04.L
UC98.L vs. UC04.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis (UC98.L) and UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UC98.L | UC04.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.42 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.94 | +0.75 |
| Martin ratioReturn relative to average drawdown | 4.05 | 1.42 | +2.63 |
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Drawdowns
UC98.L vs. UC04.L - Drawdown Comparison
The maximum UC98.L drawdown since its inception was -36.07%, smaller than the maximum UC04.L drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for UC98.L and UC04.L.
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Drawdown Indicators
| UC98.L | UC04.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.07% | -39.47% | +3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -28.93% | +24.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -28.93% | +20.63% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -28.93% | +14.76% |
Max Drawdown (10Y)Largest decline over 10 years | -19.62% | -28.93% | +9.31% |
Current DrawdownCurrent decline from peak | -7.60% | -16.65% | +9.05% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -7.96% | -6.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 19.15% | -17.12% |
Volatility
UC98.L vs. UC04.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis (UC98.L) is 1.65%, while UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis (UC04.L) has a volatility of 3.64%. This indicates that UC98.L experiences smaller price fluctuations and is considered to be less risky than UC04.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UC98.L | UC04.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 3.64% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 7.78% | -3.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.03% | 43.50% | -37.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.95% | 23.92% | -14.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.91% | 20.59% | -10.68% |
UC98.L vs. UC04.L - Expense Ratio Comparison
UC98.L has a 0.20% expense ratio, which is higher than UC04.L'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
UC98.L vs. UC04.L - Dividend Comparison
UC98.L's dividend yield for the trailing twelve months is around 4.36%, more than UC04.L's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UC04.L UBS ETF (IE) MSCI USA UCITS ETF (USD) A-dis | 0.85% | 0.96% | 0.95% | 1.11% | 1.19% | 0.89% | 1.28% | 1.40% | 1.50% | 1.32% | 1.52% | 1.44% |
UC98.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis | 4.36% | 5.96% | 4.81% | 3.91% | 2.35% | 2.01% | 2.72% | 3.27% | 2.04% | 1.74% | 0.00% | 0.00% |
Frequently Asked Questions
UC98.L and UC04.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC04.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC04.L is cheaper with a 0.14% expense ratio, compared with 0.20% for UC98.L.
UC98.L is categorized as Corporate Bonds, while UC04.L is Large Cap Blend Equities. UC98.L tracks Bloomberg US Corp Bond TR USD, while UC04.L tracks Russell 1000 TR USD. Their fees differ too: 0.20% for UC98.L and 0.14% for UC04.L.
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