USIAX vs. SEMRX

Last updated Jun 4, 2026

USIAX (UBS Ultra Short Income Fund) and SEMRX (Semper Short Duration Fund) are both Ultrashort Bond funds. With a 1.00 correlation, they move nearly in lockstep. USIAX charges 0.35%/yr vs 0.85%/yr for SEMRX.

Performance

USIAX vs. SEMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Ultra Short Income Fund (USIAX) and Semper Short Duration Fund (SEMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USIAX

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SEMRX

• 1D: 0.00%
• 1M: 0.56%
• YTD: 2.15%
• 6M: 2.54%
• 1Y: 5.95%
• 3Y*: 7.31%
• 5Y*: 4.82%
• 10Y*: 3.40%

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

USIAX vs. SEMRX - Yearly Performance Comparison

	2026 (YTD)
USIAX UBS Ultra Short Income Fund	0.32%
SEMRX Semper Short Duration Fund	0.45%

Correlation

The correlation between USIAX and SEMRX is 1.00 - 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 (All Time) Calculated using the full available price history since May 29, 2026	1.00

Return for Risk

USIAX vs. SEMRX — Risk / Return Rank

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

SEMRX

SEMRX Risk / Return Rank: 98
SEMRX Sharpe Ratio Rank: 93
SEMRX Sortino Ratio Rank: 99
SEMRX Omega Ratio Rank: 99
SEMRX Calmar Ratio Rank: 99
SEMRX Martin Ratio Rank: 99

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.

USIAX vs. SEMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Ultra Short Income Fund (USIAX) and Semper Short Duration Fund (SEMRX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USIAX	SEMRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.19	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.88	1.27	+11.62

Drawdowns

USIAX vs. SEMRX - Drawdown Comparison

The maximum USIAX drawdown since its inception was 0.00%, smaller than the maximum SEMRX drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for USIAX and SEMRX.

Drawdown Indicators

	USIAX	SEMRX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-13.09%	+13.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.52%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-4.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.09%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.63%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.13%	—

Volatility

Volatility by Period

	USIAX	SEMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	1.87%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	1.83%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	2.31%	+0.67%

USIAX vs. SEMRX - Expense Ratio Comparison

USIAX has a 0.35% expense ratio, which is lower than SEMRX's 0.85% expense ratio.

Dividends

USIAX vs. SEMRX - Dividend Comparison

USIAX's dividend yield for the trailing twelve months is around 0.32%, less than SEMRX's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEMRX Semper Short Duration Fund	5.67%	5.94%	6.13%	6.05%	3.22%	1.71%	1.95%	2.90%	2.70%	2.20%	3.03%	2.35%
USIAX UBS Ultra Short Income Fund	0.32%	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 USIAX and SEMRX in my portfolio?

With a correlation of 1.00, USIAX and SEMRX 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.