UQLT.L vs. MXUS.L
UQLT.L (UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist)) and MXUS.L (Invesco MSCI USA UCITS ETF) are both Large Cap Blend Equities funds - UQLT.L tracks the MSCI USA Quality Advanced Target Select 100% Hedged to GBP Index while MXUS.L tracks the Russell 1000 TR USD. Both are passively managed. Over the past 10 years, UQLT.L returned 14.42%/yr vs 14.60%/yr for MXUS.L. A 0.70 correlation means they provide meaningful diversification when combined. UQLT.L charges 0.28%/yr vs 0.05%/yr for MXUS.L.
Performance
UQLT.L vs. MXUS.L - Performance Comparison
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Different Trading Currencies
UQLT.L is traded in GBp, while MXUS.L is traded in USD. To make them comparable, the MXUS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UQLT.L achieves a 10.15% return, which is significantly higher than MXUS.L's 9.26% return. Both investments have delivered pretty close results over the past 10 years, with UQLT.L having a 14.42% annualized return and MXUS.L not far ahead at 14.60%.
UQLT.L
- 1D
- -0.84%
- 1M
- 0.58%
- 6M
- 8.77%
- YTD
- 10.15%
- 1Y
- 23.33%
- 3Y*
- 18.68%
- 5Y*
- 11.21%
- 10Y*
- 14.42%
MXUS.L
- 1D
- -0.96%
- 1M
- -1.52%
- 6M
- 7.46%
- YTD
- 9.26%
- 1Y
- 19.59%
- 3Y*
- 18.37%
- 5Y*
- 13.04%
- 10Y*
- 14.60%
UQLT.L vs. MXUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) | 10.15% | 17.64% | 20.58% | 33.76% | -25.29% | 27.69% | 19.02% | 34.52% | -6.09% | 23.49% |
MXUS.L Invesco MSCI USA UCITS ETF | 9.26% | 8.98% | 27.77% | 21.44% | -10.52% | 29.11% | 17.43% | 26.02% | 0.70% | 10.33% |
Correlation
The correlation between UQLT.L and MXUS.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2016 | 0.70 |
The correlation between UQLT.L and MXUS.L has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
UQLT.L vs. MXUS.L — Risk / Return Rank
UQLT.L
MXUS.L
UQLT.L vs. MXUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) (UQLT.L) and Invesco MSCI USA UCITS ETF (MXUS.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.
| UQLT.L | MXUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.57 | -0.57 |
| Martin ratioReturn relative to average drawdown | 8.36 | 8.26 | +0.10 |
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Drawdowns
UQLT.L vs. MXUS.L - Drawdown Comparison
The maximum UQLT.L drawdown since its inception was -33.41%, which is greater than MXUS.L's maximum drawdown of -26.52%. Use the drawdown chart below to compare losses from any high point for UQLT.L and MXUS.L.
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Drawdown Indicators
| UQLT.L | MXUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.41% | -26.52% | -6.89% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -7.59% | -4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -21.34% | -21.41% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -31.53% | -21.41% | -10.12% |
Max Drawdown (10Y)Largest decline over 10 years | -33.41% | -26.52% | -6.89% |
Current DrawdownCurrent decline from peak | -0.84% | -1.92% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -3.55% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.37% | +0.41% |
Volatility
UQLT.L vs. MXUS.L - Volatility Comparison
UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) (UQLT.L) has a higher volatility of 3.81% compared to Invesco MSCI USA UCITS ETF (MXUS.L) at 3.19%. This indicates that UQLT.L's price experiences larger fluctuations and is considered to be riskier than MXUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UQLT.L | MXUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 3.19% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 9.37% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 12.38% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.85% | 15.75% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 16.44% | +1.05% |
UQLT.L vs. MXUS.L - Expense Ratio Comparison
UQLT.L has a 0.28% expense ratio, which is higher than MXUS.L's 0.05% expense ratio.
Dividends
UQLT.L vs. MXUS.L - Dividend Comparison
UQLT.L's dividend yield for the trailing twelve months is around 0.22%, while MXUS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MXUS.L Invesco MSCI USA UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF GBP Hedged (Dist) | 0.22% | 0.54% | 0.30% | 0.78% | 0.81% | 0.70% | 0.86% | 0.93% | 1.24% | 1.04% | 0.65% |
Frequently Asked Questions
UQLT.L and MXUS.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MXUS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MXUS.L is cheaper with a 0.05% expense ratio, compared with 0.28% for UQLT.L.
UQLT.L tracks MSCI USA Quality Advanced Target Select 100% Hedged to GBP Index, while MXUS.L tracks Russell 1000 TR USD. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.28% for UQLT.L and 0.05% for MXUS.L.
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