UEQU.DE vs. FCO2.DE
UEQU.DE (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) and FCO2.DE (HANetf SparkChange Physical Carbon EUA ETC) are both Commodities funds - UEQU.DE tracks the UBS CMCI Ex Agriculture Ex Livestock Capped while FCO2.DE tracks the EU Carbon Emission Allowances (EUA). Both are passively managed. Over the past 3 years, UEQU.DE returned 14.81%/yr vs -3.01%/yr for FCO2.DE. At a 0.11 correlation, their price movements are largely independent. UEQU.DE charges 0.34%/yr vs 0.89%/yr for FCO2.DE.
Performance
UEQU.DE vs. FCO2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEQU.DE achieves a 25.53% return, which is significantly higher than FCO2.DE's -10.46% return.
UEQU.DE
- 1D
- -0.80%
- 1M
- 1.40%
- YTD
- 25.53%
- 6M
- 28.14%
- 1Y
- 41.09%
- 3Y*
- 14.81%
- 5Y*
- 14.40%
- 10Y*
- 10.80%
FCO2.DE
- 1D
- -2.02%
- 1M
- 1.82%
- YTD
- -10.46%
- 6M
- -8.30%
- 1Y
- 5.04%
- 3Y*
- -3.01%
- 5Y*
- —
- 10Y*
- —
UEQU.DE vs. FCO2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UEQU.DE UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc | 25.53% | 6.36% | 13.03% | -8.33% | -11.66% |
FCO2.DE HANetf SparkChange Physical Carbon EUA ETC | -10.46% | 20.70% | -11.00% | -5.14% | -0.32% |
Correlation
The correlation between UEQU.DE and FCO2.DE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022 | 0.11 |
The correlation between UEQU.DE and FCO2.DE shifts across timeframes, from -0.02 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UEQU.DE vs. FCO2.DE — Risk / Return Rank
UEQU.DE
FCO2.DE
UEQU.DE vs. FCO2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) and HANetf SparkChange Physical Carbon EUA ETC (FCO2.DE). 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.
| UEQU.DE | FCO2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +2.96 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.06 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 6.29 | 0.16 | +6.13 |
| Martin ratioReturn relative to average drawdown | 15.25 | 0.41 | +14.85 |
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
| UEQU.DE | FCO2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 0.19 | +2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | -0.07 | +0.71 |
Drawdowns
UEQU.DE vs. FCO2.DE - Drawdown Comparison
The maximum UEQU.DE drawdown since its inception was -30.56%, smaller than the maximum FCO2.DE drawdown of -48.49%. Use the drawdown chart below to compare losses from any high point for UEQU.DE and FCO2.DE.
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Drawdown Indicators
| UEQU.DE | FCO2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.56% | -48.49% | +17.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -31.46% | +24.96% |
Max Drawdown (3Y)Largest decline over 3 years | -15.66% | -45.60% | +29.94% |
Max Drawdown (5Y)Largest decline over 5 years | -22.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.56% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -24.40% | +23.19% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -23.38% | +14.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 12.41% | -9.72% |
Volatility
UEQU.DE vs. FCO2.DE - Volatility Comparison
The current volatility for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) is 3.91%, while HANetf SparkChange Physical Carbon EUA ETC (FCO2.DE) has a volatility of 5.99%. This indicates that UEQU.DE experiences smaller price fluctuations and is considered to be less risky than FCO2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEQU.DE | FCO2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 5.99% | -2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.03% | 22.94% | -9.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.73% | 26.69% | -10.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 34.04% | -17.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.41% | 34.04% | -17.63% |
UEQU.DE vs. FCO2.DE - Expense Ratio Comparison
UEQU.DE has a 0.34% expense ratio, which is lower than FCO2.DE's 0.89% expense ratio.
Dividends
UEQU.DE vs. FCO2.DE - Dividend Comparison
Neither UEQU.DE nor FCO2.DE has paid dividends to shareholders.
Frequently Asked Questions
UEQU.DE and FCO2.DE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEQU.DE is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEQU.DE is cheaper with a 0.34% expense ratio, compared with 0.89% for FCO2.DE.
UEQU.DE tracks UBS CMCI Ex Agriculture Ex Livestock Capped, while FCO2.DE tracks EU Carbon Emission Allowances (EUA). They also come from different issuers: UBS and HANetf. Their fees differ too: 0.34% for UEQU.DE and 0.89% for FCO2.DE.
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