1391 ＵＢＳスイス株 2021-04-16 16:30:00
令和2年12月期 決算短信（令和2年1月1日～令和2年12月31日）（1/2） [pdf]
令和 2 年 12 月期 決算短信（令和 2 年 1 月 1 日∼令和 2 年 12 月 31 日）
Earnings Report for Fiscal Year ending December 2020 (January 1, 2020 – December 31, 2020)
令和 3 年 4 月 16 日
April 16, 2021
コード 上場取引所 売買単位 主要投資資産
連動対象指標
ファンド名(Fund name) 番号 (Listed (Trading (Primary
(Underlying indicator)
(Code) Exchange) unit) invested assets)
UBS ETF ユーロ圏大型株 50 ユーロ・ストックス 50®インデッ
（ユーロ・ストックス 50） クス（ネットリターン）
1385 東 1口 株式
UBS ETF EURO STOXX 50
UCITS ETF-JDR
UBS ETF 欧州株（MSCI ヨー MSCI ヨーロッパ・インデックス
ロッパ） （ネットリターン）
1386 東 1口 株式
UBS ETF MSCI Europe
UCITS ETF-JDR
UBS ETF ユーロ圏株（MSCI MSCI EMU インデックス（ネット
EMU） リターン）
1387 東 1口 株式
UBS ETF MSCI EMU UCITS
ETF-JDR
UBS ETF ユ ー ロ 圏 小 型 株 MSCI EMU 小 型 株 イ ン デッ ク ス
（MSCI EMU 小型株） （ネットリターン）
1388 東 1口 株式
UBS ETF MSCI EMU Small
Cap UCITS ETF-JDR
UBS ETF 英 国 大 型 株 100 FTSE 100 インデックス（トータ
（FTSE 100） ルリターン）
1389 東 1口 株式
UBS ETF FTSE 100 UCITS
ETF-JDR
UBS ETF MSCI アジア太平 MSCI パシフィック（除く日本）
洋株（除く日本） インデックス（ネットリターン）
1390 東 1口 株式
UBS ETF MSCI Pacific (ex
Japan) UCITS ETF-JDR
UBS ETF スイス株（MSCI ス MSCI スイス 20/35 インデックス
イス 20/35）
1391 東 1口 株式
UBS ETF MSCI Switzerland
20/35 UCITS ETF-JDR
UBS ETF 英国株（MSCI 英 MSCI 英国インデックス（ネット
国） リターン）
1392 東 1口 株式
UBS ETF MSCI United
Kingdom UCITS ETF-JDR
UBS ETF 米国株（MSCI 米 MSCI 米国インデックス（ネット
国） リターン）
1393 東 1口 株式
UBS ETF MSCI USA UCITS
ETF-JDR
UBS ETF 先進国株（MSCI ワ MSCI ワールド・インデックス
ールド） （ネットリターン）
1394 東 1口 株式
UBS ETF MSCI World UCITS
ETF-JDR
外 国 投 資 法 人 UBS (Lux) ファンド・ソリューションズ・シキャブ
代 表 者 (役職名) 取締役 (氏名) アンドレアス・ハーバーツェト
管 理 会 社 ＵＢＳファンド・マネジメント（ルクセンブルク）エス・エイ
Ｕ Ｒ Ｌ www.ubs.com/etf
代 表 者 (役職名) CEO (氏名) フランチェスカ・プリム
問合せ先責任者 (役職名) 代理人 (氏名) 大西 信治 (TEL) 03(6212)8316
Foreign Investment
UBS (Lux) Fund Solutions, Sicav
Corporation:
Representative: (Title) Member of the Board of Directors (Name) Andreas Haberzeth
Management co.: UBS Fund Management (Luxembourg) S.A.
URL: www.ubs.com/etf
Representative: (Title) Chief Executive Officer (Name) Francesca Prym
Contact person: (Title) Attorney-in-Fact (Name) Nobuharu Onishi (TEL) 03(6212)8316
有価証券報告書提出予定日 令和 3 年 6 月
Scheduled submission date of Annual Securities
June, 2021
Report:
Ⅰ ファンドの運用状況
I Fund Management
１． 令和 2 年 12 月期の運用状況（令和 2 年 1 月 1 日∼令和 2 年 12 月 31 日）
1. Management Status for Fiscal Year ended December 2020 (from January 1, 2020 to December 31, 2020)
（１）信託財産である外国 ETF の資産内訳 （百万円未満切捨て）
(1) Assets of Trust Asset Foreign ETF (amounts below 1 mil. yen are discarded)
現金・預金・その他の
主要投資資産 資産（負債控除後） 合計（純資産）
Primary Invested Assets Cash/Deposits/Other Assets Total (Net Assets)
(excluding liabilities)
構成
金額 構成比 金額 構成比 金額
比
Amount ratio Amount ratio Amount
ratio
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF ユーロ圏大型株
2 年 12 月期
50（ユーロ・ストックス
FY ended 52,472 99.83 90 0.17 52,563 100.00
50）
December 2020
UBS ETF EURO STOXX
50 UCITS ETF-JDR 元年 12 月期
FY ended 55,080 99.87 73 0.13 55,153 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF 欧州株（MSCI ヨ
2 年 12 月期
ーロッパ）
FY ended 54,752 100.05 (25) (0.05) 54,726 100.00
UBS ETF MSCI Europe
December 2020
UCITS ETF-JDR
元年 12 月期
FY ended 59,969 100.01 (7) (0.01) 59,961 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF ユ ー ロ 圏 株
2 年 12 月期
（MSCI EMU）
FY ended 523,541 99.34 3,466 0.66 527,007 100.00
UBS ETF MSCI EMU
December 2020
UCITS ETF-JDR
元年 12 月期
FY ended 418,445 98.92 4,581 1.08 423,027 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF ユーロ圏小型株
2 年 12 月期
（MSCI EMU 小型株）
FY ended 12,664 99.95 5 0.05 12,670 100.00
UBS ETF MSCI EMU
December 2020
Small Cap UCITS ETF-
JDR 元年 12 月期
FY ended 13,596 99.96 4 0.04 13,601 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF 英国大型株 100
2 年 12 月期
（FTSE 100）
FY ended 11,065 99.41 65 0.59 11,130 100.00
UBS ETF FTSE 100
December 2020
UCITS ETF-JDR
元年 12 月期
FY ended 9,853 99.64 35 0.36 9,889 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF MSCI アジア太
2 年 12 月期
平洋株（除く日本）
FY ended 15,041 99.42 87 0.58 15,129 100.00
UBS ETF MSCI Pacific (ex
December 2020
Japan) UCITS ETF-JDR
元年 12 月期
FY ended 17,775 99.44 99 0.56 17,875 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF スイス株（MSCI
2 年 12 月期
スイス 20/35）
FY ended 221,568 100.04 (79) (0.04) 221,488 100.00
UBS ETF MSCI
December 2020
Switzerland 20/35 UCITS
ETF-JDR 元年 12 月期
FY ended 136,013 99.95 67 0.05 136,080 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF 英国株（MSCI 英
2 年 12 月期
国）
FY ended 233,993 99.65 820 0.35 234,814 100.00
UBS ETF MSCI United
December 2020
Kingdom UCITS ETF-JDR
元年 12 月期
FY ended 296,103 99.47 1,566 0.53 297,669 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF 米国株（MSCI 米
2 年 12 月期
国）
FY ended 72,787 99.65 253 0.35 73,040 100.00
UBS ETF MSCI USA
December 2020
UCITS ETF-JDR
元年 12 月期
FY ended 65,715 99.66 226 0.34 65,942 100.00
December 2019
百万円 ％ 百万円 ％ 百万円 ％
JPY mil. % JPY mil. % JPY mil. %
UBS ETF 先進国株（MSCI
2 年 12 月期
ワールド）
FY ended 113,059 99.67 372 0.33 113,432 100.00
UBS ETF MSCI World
December 2020
UCITS ETF-JDR
元年 12 月期
FY ended 130,815 99.58 547 0.42 131,363 100.00
December 2019
（２）信託財産である外国 ETF の設定・交換実績
(2) Creation and Redemption of Trust Asset Foreign ETF
（千口未満切捨て）
(amounts below 1 thousand shares are discarded)
前計算期間末発 当計算期間末発行
行済口数 設定口数 交換口数 済口数
No. of Issued Shares No. of Shares No. of Shares No. of Issued Shares at
at End of Previous Created Redeemed End of Calculation
Calculation Period (②) (③) Period
(①) (①＋②−③)
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF ユーロ圏大型株 50 2 年 12 月期
（ユーロ・ストックス 50） FY ended 11,277 1,416 1,384 11,309
December 2020
UBS ETF EURO STOXX 50
元年 12 月期
UCITS ETF-JDR FY ended 15,141 350 4,213 11,277
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF 欧州株（MSCI ヨー 2 年 12 月期
ロッパ） FY ended 5,803 1,072 1,526 5,349
UBS ETF MSCI Europe December 2020
UCITS ETF-JDR 元年 12 月期
FY ended 4,501 1,589 287 5,803
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF ユーロ圏株（MSCI 2 年 12 月期
EMU） FY ended 9,583 2,495 5,825 6,253
UBS ETF MSCI EMU UCITS December 2020
ETF-JDR 元年 12 月期
FY ended 16,674 2,132 9,223 9,583
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF ユ ー ロ 圏 小 型 株 2 年 12 月期
（MSCI EMU 小型株） FY ended 1,006 1,094 1,202 899
UBS ETF MSCI EMU Small December 2020
Cap UCITS ETF-JDR 元年 12 月期
FY ended 1,408 96 498 1,006
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF 英 国 大 型 株 100 2 年 12 月期
（FTSE 100） FY ended 925 299 0 1,225
UBS ETF FTSE 100 UCITS December 2020
ETF-JDR 元年 12 月期
FY ended 1,119 12 206 925
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF MSCI アジア太平洋 2 年 12 月期
株（除く日本） FY ended 3,327 430 1,092 2,664
UBS ETF MSCI Pacific (ex December 2020
Japan) UCITS ETF-JDR 元年 12 月期
FY ended 4,308 188 1,169 3,327
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF スイス株（MSCI ス 2 年 12 月期
イス 20/35） FY ended 6,232 13,741 1,859 18,114
UBS ETF MSCI Switzerland December 2020
20/35 UCITS ETF-JDR 元年 12 月期
FY ended 8,230 464 2,462 6,232
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF 英 国 株 （ MSCI 英 2 年 12 月期
国） FY ended 1,427 1,058 165 2,321
UBS ETF MSCI United December 2020
Kingdom UCITS ETF-JDR 元年 12 月期
FY ended 369 1,182 125 1,427
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF 米 国 株 （ MSCI 米 2 年 12 月期
国） FY ended 1,926 254 391 1,789
UBS ETF MSCI USA UCITS December 2020
ETF-JDR 元年 12 月期
FY ended 2,151 393 619 1,926
December 2019
千口 千口 千口 千口
‘000 shares ‘000 shares ‘000 shares ‘000 shares
UBS ETF 先進国株（MSCI ワ 2 年 12 月期
ールド） FY ended 5,055 970 2,197 3,828
UBS ETF MSCI World UCITS December 2020
ETF-JDR 元年 12 月期
FY ended 5,366 362 673 5,055
December 2019
（３）信託財産である外国 ETF の基準価額
(3) Net Asset Value of Trust Asset Foreign ETF
（百万円未満切捨て）
(amounts below 1 mil. yen are discarded)
1 口当たり基準価額
((③/当計算期間末（前
計算期間末）発行済口
総資産 負債 純資産 数)×1)
Total Assets Liabilities Net Assets Net Asset Value per 1 unit
(①) (②) (③(①−②)) ((③/No. of Issued Shares at
End of Calculation Period
(Previous Calculation
Period))×1)
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF ユーロ圏大型株 50
（ユーロ・ストックス 50） 2 年 12 月期
UBS ETF EURO STOXX 50 FY ended 52,572 9 52,563 4,647
UCITS ETF-JDR December 2020
元年 12 月期
FY ended 55,163 9 55,153 4,890
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF 欧州株（MSCI ヨー
ロッパ） 2 年 12 月期
UBS ETF MSCI Europe FY ended 54,969 242 54,726 4,608
UCITS ETF-JDR December 2020
元年 12 月期
FY ended 60,083 121 59,961 5,293
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF ユーロ圏株（MSCI
EMU） 2 年 12 月期
UBS ETF MSCI EMU UCITS FY ended 529,334 2,327 527,007 2,439
ETF-JDR December 2020
元年 12 月期
FY ended 423,142 115 423,027 3,316
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF ユ ー ロ 圏 小 型 株
（MSCI EMU 小型株） 2 年 12 月期
UBS ETF MSCI EMU Small FY ended 12,690 19 12,670 14,092
Cap UCITS ETF-JDR December 2020
元年 12 月期
FY ended 13,619 17 13,601 13,508
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF 英 国 大 型 株 100
（FTSE 100） 2 年 12 月期
UBS ETF FTSE 100 UCITS FY ended 11,136 5 11,130 9,084
ETF-JDR December 2020
元年 12 月期
FY ended 9,893 4 9,889 10,679
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF MSCI アジア太平洋
株（除く日本） 2 年 12 月期
UBS ETF MSCI Pacific (ex FY ended 15,665 536 15,129 4,223
Japan) UCITS ETF-JDR December 2020
元年 12 月期
FY ended 17,924 49 17,875 4,228
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF スイス株（MSCI ス
イス 20/35） 2 年 12 月期
UBS ETF MSCI Switzerland FY ended 222,005 517 221,488 2,331
20/35 UCITS ETF-JDR December 2020
元年 12 月期
FY ended 136,170 90 136,080 2,656
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF 英 国 株 （ MSCI 英
国） 2 年 12 月期
UBS ETF MSCI United FY ended 235,029 215 234,814 2,954
Kingdom UCITS ETF-JDR December 2020
元年 12 月期
FY ended 297,720 51 297,669 3,636
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF 米 国 株 （ MSCI 米
国） 2 年 12 月期
UBS ETF MSCI USA UCITS FY ended 73,084 43 73,040 40,419
ETF-JDR December 2020
元年 12 月期
FY ended 65,970 28 65,942 33,930
December 2019
百万円 百万円 百万円 円
JPY mil. JPY mil. JPY mil. JPY
UBS ETF 先進国株（MSCI ワ
ールド） 2 年 12 月期
UBS ETF MSCI World UCITS FY ended 113,516 84 113,432 29,625
ETF-JDR December 2020
元年 12 月期
FY ended 131,462 98 131,363 25,981
December 2019
（４）上場外国 ETF 信託受益証券に係る設定・交換実績
(4) Creation and Redemption of Listed Foreign ETF Trust Beneficiary Certificates (JDR)
前計算期間
末発行済口
数 設定口数 交換口数 当計算期間末発行済口数
No. of Issued No. of Units No. of Units No. of Issued Units at End of
Units at End of
Created Redeemed Calculation Period
Previous
(②) (③) (①＋②−③)
Calculation
Period
(①)
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF ユーロ圏大型株 50 2 12
年 月期
（ユーロ・ストックス 50） FY ended 98 22 11 109
UBS ETF EURO STOXX 50
UCITS ETF-JDR December 2020
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF 欧州株（MSCI ヨー 2 年 12 月期
ロッパ）
UBS ETF MSCI Europe FY ended 43 11 8 46
December 2020
UCITS ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF ユーロ圏株（MSCI 2 12
EMU） 年 月期
FY ended 4 10 6 8
UBS ETF MSCI EMU UCITS December 2020
ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF ユ ー ロ 圏 小 型 株 2 12
年 月期
（MSCI EMU 小型株） FY ended 3 10 6 7
UBS ETF MSCI EMU Small
Cap UCITS ETF-JDR December 2020
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF 英 国 大 型 株 100 2 年 12 月期
（FTSE 100）
UBS ETF FTSE 100 UCITS FY ended 5 22 0 27
December 2020
ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF MSCI アジア太平洋 2 12
株（除く日本） 年 月期
FY ended 31 2 0 33
UBS ETF MSCI Pacific (ex December 2020
Japan) UCITS ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF スイス株（MSCI ス 2 12
年 月期
イス 20/35） FY ended 76 10 9 77
UBS ETF MSCI Switzerland
20/35 UCITS ETF-JDR December 2020
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF 英 国 株 （ MSCI 英 2 年 12 月期
国）
UBS ETF MSCI United FY ended 31 25 4 52
December 2020
Kingdom UCITS ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF 米 国 株 （ MSCI 米 2 12
国） 年 月期
FY ended 5 17 16 6
UBS ETF MSCI USA UCITS December 2020
ETF-JDR
千口 千口 千口 千口
‘000 units ‘000 units ‘000 units ‘000 units
UBS ETF 先進国株（MSCI ワ 2 年 12 月期
ールド）
UBS ETF MSCI World UCITS FY ended 4 11 11 4
December 2020
ETF-JDR
（５）上場外国 ETF 信託受益証券の分配金
(5) Dividend Payment of Listed Foreign ETF Trust Beneficiary Certificates (JDR)
1 口当たり分配金
Dividend per 1 unit
円
JPY
UBS ETF ユーロ圏大型株 50 2 年 12 月期
（ユーロ・ストックス 50） FY ended 21
UBS ETF EURO STOXX 50 December 2020
UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 64
2020
元年 12 月期
FY ended 22
December 2019
円
JPY
UBS ETF 欧州株（MSCI ヨー 2 年 12 月期
ロッパ） FY ended 49
UBS ETF MSCI Europe December 2020
UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 105
2020
元年 12 月期
FY ended 57
December 2019
円
JPY
UBS ETF ユーロ圏株（MSCI 2 年 12 月期
EMU） FY ended 71
UBS ETF MSCI EMU UCITS December 2020
ETF-JDR 2 年 6 月中間期
SAN ended June 187
2020
元年 12 月期
FY ended 58
December 2019
円
JPY
UBS ETF ユ ー ロ 圏 小 型 株 2 年 12 月期
（MSCI EMU 小型株） FY ended 77
UBS ETF MSCI EMU Small December 2020
Cap UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 112
2020
元年 12 月期
FY ended 33
December 2019
円
JPY
UBS ETF 英 国 大 型 株 100 2 年 12 月期
（FTSE 100） FY ended 121
UBS ETF FTSE 100 UCITS December 2020
ETF-JDR 2 年 6 月中間期
SAN ended June 129
2020
元年 12 月期
FY ended 181
December 2019
円
JPY
UBS ETF MSCI アジア太平洋 2 年 12 月期
株（除く日本） FY ended 52
UBS ETF MSCI Pacific (ex December 2020
Japan) UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 64
2020
元年 12 月期
FY ended 79
December 2019
円
JPY
UBS ETF スイス株（MSCI ス 2 年 12 月期
イス 20/35） FY ended 0
UBS ETF MSCI Switzerland December 2020
20/35 UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 36
2020
元年 12 月期
FY ended 0
December 2019
円
JPY
UBS ETF 英 国 株 （ MSCI 英 2 年 12 月期
国） FY ended 33
UBS ETF MSCI United December 2020
Kingdom UCITS ETF-JDR 2 年 6 月中間期
SAN ended June 34
2020
元年 12 月期
FY ended 50
December 2019
円
JPY
UBS ETF 米 国 株 （ MSCI 米 2 年 12 月期
国） FY ended 181
UBS ETF MSCI USA UCITS December 2020
ETF-JDR 2 年 6 月中間期
SAN ended June 196
2020
元年 12 月期
FY ended 202
December 2019
円
JPY
UBS ETF 先進国株（MSCI ワ 2 年 12 月期
ールド） FY ended 138
UBS ETF MSCI World UCITS December 2020
ETF-JDR 2 年 6 月中間期
SAN ended June 186
2020
元年 12 月期
FY ended 163
December 2019
※上場外国 ETF 信託受益証券に係る令和 2 年 6 月中間期分配金の基準日は令和 2 年 7 月 31 日であり、令和 2
年 12 月期分配金の基準日は令和 3 年 1 月 29 日です。
※The record date for the interim dividend for the SAN ended June 2020 was July 31, 2020. The record date for the
annual dividend for the FY ended December 2020 was January 29, 2021.
※上場外国 ETF 信託受益証券に係る令和 2 年 12 月期分配金の支払開始日は令和 3 年 3 月 10 日です。
※The start date of dividend payment on the Listed Foreign ETF Trust Beneficiary Certificates (JDR) of the annual dividend for the
FY ended December 2020 was March 10, 2021.
注） アメリカ合衆国ドル（ 「米ドル」、イギリスポンド（
） 「英ポンド」、スイスフラン（
） 「スイスフラン」 ）お
よびユーロの円貨換算は、便宜上、令和 3 年 4 月 8 日現在の株式会社三菱 UFJ 銀行の対顧客電信売買
相場の仲値（1 米ドル＝109.83 円、1 英ポンド＝150.94 円、1 スイスフラン＝118.08 円、1 ユーロ＝
130.35 円）によります。
Note: Conversion from United States Dollar ("USD"), Pound Sterling (“GBP”), Swiss Franc (“CHF”) and Euro (“EUR”)
to Japanese Yen (“JPY”) is by the telegraphic transfer middle rate of MUFG Bank, Ltd. as of [ ] April 2021 (USD 1
= JPY 109.83 GBP 1 = JPY 150.94, CHF 1 = JPY 118.08, EUR 1 = JPY 130.35 ) for convenience.
２． 信託財産である外国 ETF の会計方針の変更
2. Change in Accounting Policies of Trust Asset Foreign ETF
（１）会計基準等の改正に伴う会計方針の変更 ：無
(1)Changes accompanying revision to accounting standards, etc. ：No
（２）
（１）以外の会計方針の変更 ：無
(2)Changes other than those in (1) ：No
*UBS
Annual Report 2020
Investment Company under Luxembourg Law (SICAV)
UBS ETF
Audited Annual Report as of 31 December 2020
UBS ETF – EURO STOXX 50 UCITS ETF UBS ETF – SBI® Foreign AAA-BBB 1-5 UCITS ETF
UBS ETF – MSCI Europe UCITS ETF UBS ETF – SBI® Foreign AAA-BBB 5-10 UCITS ETF
UBS ETF – MSCI EMU UCITS ETF UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year
UBS ETF – MSCI EMU Select Factor Mix UCITS ETF UCITS ETF
UBS ETF – MSCI EMU Value UCITS ETF UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF
UBS ETF – MSCI EMU Small Cap UCITS ETF UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF
UBS ETF – Factor MSCI EMU Quality UCITS ETF UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable
UBS ETF – Factor MSCI EMU Prime Value UCITS ETF UCITS ETF
UBS ETF – Factor MSCI EMU Low Volatility UCITS ETF UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates
UBS ETF – FTSE 100 UCITS ETF Sustainable UCITS ETF
UBS ETF – MSCI United Kingdom UCITS ETF UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS
UBS ETF – MSCI Japan UCITS ETF ETF
UBS ETF – MSCI Japan Socially Responsible UCITS ETF UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF
UBS ETF – MSCI Pacific (ex Japan) UCITS ETF UBS ETF – J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond
UBS ETF – MSCI USA UCITS ETF UCITS ETF
UBS ETF – MSCI Canada UCITS ETF UBS ETF – Bloomberg Barclays Euro Liquid Aggregate ex-Financials 1-5
UBS ETF – MSCI Singapore UCITS ETF HQLA UCITS ETF
UBS ETF – MSCI Hong Kong UCITS ETF UBS ETF – Sustainable Development Bank Bonds UCITS ETF
UBS ETF – MSCI Switzerland 20/35 UCITS ETF UBS ETF – EURO STOXX 50 ESG UCITS ETF
UBS ETF – MSCI World UCITS ETF UBS ETF – MSCI China ESG Universal UCITS ETF
UBS ETF – MSCI Emerging Markets UCITS ETF UBS ETF – J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF
UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF UBS ETF – J.P. Morgan Global Government ESG Liquid Bond UCITS ETF
UBS ETF – MSCI World Socially Responsible UCITS ETF UBS ETF – J.P. Morgan CNY China Government 1-10 Year Bond UCITS
UBS ETF – MSCI USA Socially Responsible UCITS ETF ETF
UBS ETF – MSCI EMU Socially Responsible UCITS ETF UBS ETF – Bloomberg Barclays Japan Treasury 1-3 Year Bond UCITS ETF
UBS ETF – MSCI Pacific Socially Responsible UCITS ETF UBS ETF – Bloomberg Barclays MSCI Global Liquid Corporates
UBS ETF – Bloomberg Barclays US 1-3 Year Treasury Bond UCITS ETF Sustainable UCITS ETF
UBS ETF – Bloomberg Barclays US 7-10 Year Treasury Bond UCITS ETF UBS ETF – J.P. Morgan EMU Government ESG Liquid Bond UCITS ETF
UBS ETF – Bloomberg Barclays US 10+ Year Treasury Bond UCITS ETF
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF
UBS ETF – Bloomberg Barclays TIPS 10+ UCITS ETF
UBS ETF – Bloomberg Barclays Euro Inflation Linked 1-10 UCITS ETF
UBS ETF – Bloomberg Barclays Euro Inflation Linked 10+ UCITS ETF
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates UCITS ETF
UBS ETF – Bloomberg Barclays EUR Treasury 1-10 UCITS ETF
No subscriptions can be received on the basis of financial reports. Subscriptions are only valid if made on the basis of
the current Prospectus supplemented by the latest Annual Report and latest Semi-Annual Report if published
thereafter.
RCS Number: B-83626
Audited Annual Report as of 31 December 2020
Contents
Page
Management and Administration 4
Letter to Shareholders 6
Performance tables 9
Audit Report 16
Statement of Net Assets 20
Statement of Operations 48
Statement of Changes in Net Assets 66
Schedule of Investments — UBS ETF – EURO STOXX 50 UCITS ETF 93
Schedule of Investments — UBS ETF – MSCI Europe UCITS ETF 95
Schedule of Investments — UBS ETF – MSCI EMU UCITS ETF 105
Schedule of Investments — UBS ETF – MSCI EMU Select Factor Mix UCITS ETF 112
Schedule of Investments — UBS ETF – MSCI EMU Value UCITS ETF 124
Schedule of Investments — UBS ETF – MSCI EMU Small Cap UCITS ETF 128
Schedule of Investments — UBS ETF – Factor MSCI EMU Quality UCITS ETF 137
Schedule of Investments — UBS ETF – Factor MSCI EMU Prime Value UCITS ETF 140
Schedule of Investments — UBS ETF – Factor MSCI EMU Low Volatility UCITS ETF 143
Schedule of Investments — UBS ETF – FTSE 100 UCITS ETF 146
Schedule of Investments — UBS ETF – MSCI United Kingdom UCITS ETF 150
Schedule of Investments — UBS ETF – MSCI Japan UCITS ETF 153
Schedule of Investments — UBS ETF – MSCI Japan Socially Responsible UCITS ETF 160
Schedule of Investments — UBS ETF – MSCI Pacific (ex Japan) UCITS ETF 163
Schedule of Investments — UBS ETF – MSCI USA UCITS ETF 167
Schedule of Investments — UBS ETF – MSCI Canada UCITS ETF 179
Schedule of Investments — UBS ETF – MSCI Singapore UCITS ETF 182
Schedule of Investments — UBS ETF – MSCI Hong Kong UCITS ETF 183
Schedule of Investments — UBS ETF – MSCI Switzerland 20/35 UCITS ETF 185
Schedule of Investments — UBS ETF – MSCI World UCITS ETF 187
Schedule of Investments — UBS ETF – MSCI Emerging Markets UCITS ETF 214
Schedule of Investments — UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF 235
Schedule of Investments — UBS ETF – MSCI World Socially Responsible UCITS ETF 239
Schedule of Investments — UBS ETF – MSCI USA Socially Responsible UCITS ETF 246
Schedule of Investments — UBS ETF – MSCI EMU Socially Responsible UCITS ETF 250
Audited Annual Report as of 31 December 2020
Contents (continued)
Page
Schedule of Investments — UBS ETF – MSCI Pacific Socially Responsible UCITS ETF 253
Schedule of Investments — UBS ETF – Bloomberg Barclays US 1-3 Year Treasury Bond UCITS ETF 256
Schedule of Investments — UBS ETF – Bloomberg Barclays US 7-10 Year Treasury Bond UCITS ETF 258
Schedule of Investments — UBS ETF – Bloomberg Barclays US 10+ Year Treasury Bond UCITS ETF 259
Schedule of Investments — UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF 261
Schedule of Investments — UBS ETF – Bloomberg Barclays TIPS 10+ UCITS ETF 262
Schedule of Investments — UBS ETF – Bloomberg Barclays Euro Inflation Linked 1-10 UCITS ETF 263
Schedule of Investments — UBS ETF – Bloomberg Barclays Euro Inflation Linked 10+ UCITS ETF 264
Schedule of Investments — UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates UCITS ETF 265
Schedule of Investments — UBS ETF – Bloomberg Barclays EUR Treasury 1-10 UCITS ETF 275
Schedule of Investments — UBS ETF – SBI® Foreign AAA-BBB 1-5 UCITS ETF 280
Schedule of Investments — UBS ETF – SBI Foreign AAA-BBB 5-10 UCITS ETF
®
286
Schedule of Investments — UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS
ETF 289
Schedule of Investments — UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF 298
Schedule of Investments — UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF 303
Schedule of Investments — UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable
UCITS ETF 316
Schedule of Investments — UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates
Sustainable UCITS ETF 326
Schedule of Investments — UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF 340
Schedule of Investments — UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF 354
Schedule of Investments — UBS ETF – J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond
UCITS ETF 367
Schedule of Investments — UBS ETF – Bloomberg Barclays Euro Liquid Aggregate ex-Financials 1-5 HQLA
UCITS ETF 373
Schedule of Investments — UBS ETF – Sustainable Development Bank Bonds UCITS ETF 379
Schedule of Investments — UBS ETF – EURO STOXX 50 ESG UCITS ETF 382
Schedule of Investments — UBS ETF – MSCI China ESG Universal UCITS ETF 384
Schedule of Investments — UBS ETF – J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF 395
Schedule of Investments — UBS ETF – J.P. Morgan Global Government ESG Liquid Bond UCITS ETF 410
Schedule of Investments — UBS ETF – J.P. Morgan CNY China Government 1-10 Year Bond UCITS ETF 428
Schedule of Investments — UBS ETF – Bloomberg Barclays Japan Treasury 1-3 Year Bond UCITS ETF 430
Audited Annual Report as of 31 December 2020
Contents (continued)
Page
Schedule of Investments — UBS ETF – Bloomberg Barclays MSCI Global Liquid Corporates Sustainable
UCITS ETF 431
Schedule of Investments — UBS ETF – J.P. Morgan EMU Government ESG Liquid Bond UCITS ETF 440
Notes to Financial Statements 446
Appendix I - Supplementary Information (unaudited) 520
Appendix II - Remuneration Policy (unaudited) 535
Sales Restrictions
Shares of these Sub-Funds may not be offered, sold or distributed within the United States of America.
The applicable selling restrictions are set out in the sales prospectus.
Management and Administration
Registered Office Paying Agent in Sweden
49, Avenue J.F. Kennedy UBS Europe SE
L-1855 Luxembourg Regeringsgatan 38, 111 56 Stockholm
R.C.S. Luxembourg Nr. B-83626
Paying Agent in Switzerland
Portfolio Managers of Sub-Funds
UBS Switzerland AG
UBS Asset Management (UK) Ltd Bahnhofstrasse 45, CH-8098 Zurich
5 Broadgate and its branches in Switzerland
EC2M 2QS London, United Kingdom
Paying Agent in Liechtenstein
UBS Asset Management Switzerland AG,
Bahnhofstrasse 45, CH-8098 Zurich, Switzerland
Liechtensteinische Landesbank AG
UBS Asset Management (Americas) Inc. Städtle 44, FL-9490 Vaduz
UBS Tower, One North Wacker Drive
IL 60606, Chicago, United States Paying Agent in the United Kingdom
Auditor UBS Asset Management (UK) Ltd
5, Broadgate, EC2M 2QS London
PricewaterhouseCoopers, Société coopérative
2, rue Gerhard Mercator Paying Agent in Belgium
B.P. 1443
L-1014 Luxembourg BNP Paribas Securities Services S.C.A.,
Brussels branch
Depositary Rue de Loxum, 25, 1000 Brussels
State Street Bank International GmbH, Luxembourg Branch Distributor
49, avenue J.F. Kennedy
L-1855 Luxembourg UBS Asset Management Switzerland AG
Bahnhofstrasse 45, CH-8098 Zurich, Switzerland
Board of Directors
Representation Agent in Austria
• Mr Clemens Reuter (Chairman)
Managing Director, UBS Asset Management Switzerland AG, Erste Bank der oesterreichischen Sparkassen AG
Zurich Am Belvedere 1, A-1010 Vienna
• Mr Frank Müsel (Vice-Chairman) Information Agent in Germany
Executive Director, UBS Asset Management Switzerland AG,
Zurich UBS Europe SE
Bockenheimer Landstrasse 2-4
• Mr Ian Ashment D-60306 Frankfurt am Main
Managing Director, UBS Asset Management (UK) Ltd, London
Representation Agent in Switzerland
• Mr Andreas Haberzeth
Executive Director, UBS Asset Management Switzerland AG, UBS Fund Management (Switzerland) AG
Zurich Aeschenplatz 6, CH-4052 Basel
• Mr Jörgen Jessen
Independent Board Member, Grevenmacher Centralising and Financial Agent in France
Management Company Société Générale S.A.
29, Boulevard Haussmann,
F-75009 Paris
UBS Fund Management (Luxembourg) S.A.
33A, Avenue J.F. Kennedy
L-1855 Luxembourg Representation and Paying Agent in Spain
R.C.S. Luxemburg N° B 154 210
UBS Europe SE
Company Administrator, Domiciliary, Depositary, 4, Calle Maria de Molina, 3 planta
28006 Madrid
Corporate and Paying Agent
Representation Agent in Portugal
State Street Bank International GmbH, Luxembourg Branch
49, avenue J.F. Kennedy
L-1855 Luxembourg Best – Banco Electrónico de Serviço Total, S.A.
Praça Marquês de Pombal, 3A - 3º
1250-161 Lisboa
Paying Agent in Austria Portugal
Erste Bank der oesterreichischen Sparkassen AG Legal Advisers
Am Belvedere 1, A-1100 Vienna
as to Luxembourg Law
Paying Agent in Germany Clifford Chance
10, boulevard G.D. Charlotte
UBS Europe SE B.P. 1147
Bockenheimer Landstrasse 2-4, D-60306 Frankfurt am Main L-1011 Luxembourg
4
Management and Administration
Securities Lending Agent
State Street Bank International GmbH Frankfurt Branch,
Solmsstrasse 83, 60486 Frankfurt am Main, Germany
Shareholders may obtain the Prospectus, the Key Investor Information Document (KIID), the latest annual and semi-annual reports,
the changes in the composition of the securities portfolio during the reporting period and copies of the Memorandum and Articles of
Association free of charge from the registered office of the Manager, the Administrator, or the local representatives in the countries
where the Company is registered and in Switzerland at UBS Switzerland AG, Bahnhofstrasse 45, 8098 Zurich, Switzerland.
5
Annual report as of 31 December 2020
Letter to Shareholders
We are pleased to present the 19th annual report for the UBS Exchange Traded Funds (UBS ETF)
covering the reporting period from 1 January 2020 to 31 December 2020. Despite strong volatility, we
look back on a positive year for financial equity markets across the globe. In general, bond markets also
performed well during 2020, as the support from policymakers at record speed helped to turn the tide
after unprecedented disruptions to the global economy caused by the COVID-19 pandemic. UBS ETF's
AuM increased during the year.
The Fund range saw total net inflows of EUR 2,0 billion, increasing the total AuM in UBS ETFs to EUR
36,0 billion as at 31 December 2020.
In 2020, we have launched four and closed down thirteen ETFs in total. Most of the closed ETFs were
merged with newly launched currency-hedged share classes of existing ETFs. This was part of an
efficiency initiative to increase the average size per fund while reducing the number of separate sub-
funds to manage. The four ETFs that have been launched in 2020 were all in the fixed income asset class
covering Chinese, Japanese and EMU Government Bonds and a Global Corporates ETF based on ESG
research delivered by MSCI and the index administered by Bloomberg. Finally, and simultaneously with
the ordinary MSCI November semi-annual index review, we changed the benchmarks of our Socially
Responsible ETFs adding additional carbon criteria to significantly reduce their carbon footprint.
In 2020, UBS ETF maintained its position as the fourth largest ETF provider in Europe with strong inflows
provided by third party Wholesale clients, and a successful continued focus on Sustainable ETF investing.
ETF Sales activities in Europe remained strong in our core markets, and positive initial inflows were also
registered in greater Asia in the institutional client segment. Moving forward the business will continue to
focus on servicing our established client relationships in all markets, the expansion of our leading
position in Europe in Sustainable ETF Investing, growing our Wholesale franchise and our clients’
interest in bespoke Fixed Income investment opportunities, as well as servicing all of our investors in the
after-sales space around the topics of regulatory support and reporting. As a leading global asset
manager, UBS Asset Management is committed to the continued strong growth of its Indexing business,
supported, in particular, by its market leading ETF offering.
In the first quarter of the year, COVID-19 and the resulting government actions have caused what was
one of the sharpest contractions in economic growth in history. In addition to tragic human and direct
economic costs, the speed of the shock has exposed underlying fragilities in financial markets, including a
banking system still working through the constraints of post-crisis regulation. In just a few weeks, the cost
of dollar funding for both domestic and international users spiked, credit markets froze and volatility in
major asset classes reached record highs.
The news that the OPEC+ group of oil producers had failed to agree supply cuts in the face of reduced
demand caused oil prices to immediately spike downwards by almost a third in early March. This sent
shockwaves worldwide and ignited further volatility. The announcement by President Trump of a ban on
all travel from Europe to the US also impacted sentiment. As did a statement from European Central
Bank President Lagarde, which seemingly cast doubt on the ECB's commitment to keep Eurozone
government borrowing costs aligned.
Equity markets had their worst month in March since the depth of the financial crisis in October 2008,
despite a strong rally as the month ended. Shares lost over 12% of their value, leaving them down by
almost a fifth for the first quarter; again, this was the worst performance over a calendar quarter since
2008. Earlier in the quarter, a number of technology heavyweights such as Apple, Amazon and Microsoft
reported strong results which powered US stocks higher in particular, although profits in other sectors,
such as financials, were more mixed. Increasing evidence that COVID-19 was spreading rapidly outside
China drove a sudden change in sentiment in late February. News of a spate of cases in South Korea,
Iran and Italy saw equity markets lurch sharply downward as market volatility, as measured by the Vix
index, reached levels not seen since the financial crisis over ten years ago. It was noticeable that this
more negative outlook impacted most major markets in a broadly uniform manner, with regions such as
the US, Europe and Emerging Markets all losing roughly a fifth of their value over the three months.
Despite being the first country to report the virus, Chinese stocks ended up being less affected overall,
perhaps as a result of the strong initial steps taken to limit the outbreak.
The figures stated in this report are historical and not necessarily indicative of future performance.
6
Annual report as of 31 December 2020
Letter to Shareholders (continued)
Within fixed income markets, assets seen as safe havens unsurprisingly fared best over the first quarter of
2020, with yields on benchmark bonds such as Treasuries and German bunds reaching their lowest ever
levels earlier in March. Even these were not immune from the general market turbulence, though, and
yields generally climbed later in the month as investors demand for cash increased. Other forms of debt
fared less well, with sharp falls in value for high yield debt in particular as concerns increased over the
creditworthiness of borrowers in sectors such as energy, transport and leisure, as well as the likelihood
of a glut of 'fallen angels' if the outlook for more marginal investment grade credit worsened. However, as
markets stabilised there was a rush from investment grade companies globally to tap debt markets even
at higher yields, with a glut of new issuance in the final week of March.
In the second quarter, financial markets continued to be driven by developments in the COVID-19
pandemic, and the economic effect of lockdown measures imposed around the world. Although
economic data remained very negative, financial markets generally performed well in April as markets
responded to news that lockdown measures weregradually being lifted in major economies, and on
encouraging trial data suggesting that treatments for COVID-19 could help ease the burden on
healthcare systems.
Social distancing measures aimed at containing COVID-19 have driven one of the sharpest economic
slowdowns in history, yet equity markets enjoyed a strong month in April, bouncing back from March's
crash. Corporate profits suffered a huge near-term blow, but governments around the world mounted
aggressive monetary and fiscal responses.
Equity markets recovered in the second quarter as a combination of lockdown measures being lifted in
major economies, promising news on pharmaceutical developments to combat the coronavirus, and
continued monetary and fiscal policy support boosted investor confidence. Dovish commentary from the
US Federal Reserve ("we are not even thinking about raising rates"), further positive vaccine trial results,
and continued improvements in economic data further helped support sentiment. Economic activity in
China had recovered from the trough in Q1. Outside of Asia, the fundamental picture for emerging
markets remained challenged, with many of the countries most affected by COVID-19 globally being in
Latin America. That said, the effects of loose monetary policy in the developed world contributed to
capital inflows into the region.
Due to monetary and fiscal policy support, fixed income markets recovered during the second quarter as
well. Credit spreads spiked in the first quarter of the year, but central bank action and hopes of an end to
lockdown measures caused credit spreads to tighten through April. Moving into May, risky assets
continued to grind higher. The absence of a 'second wave' of COVID-19 cases in major economies, in
spite of looser lockdown measures, further helped support sentiment.
In the third quarter of 2020, governments continued to lead the push into sustainability. The third quarter
provided further evidence that governments are taking a leading role in promoting a green recovery from
the COVID-19 pandemic and setting their economies on course for a more sustainable future. In July, the
European Union agreed on a EUR 750 billion Recovery Fund, which is aligned with the EU Green Deal
and which means 30% of the announced overall EUR 1.8 trillion budget will be allocated to climate-
related investment over the next seven years. At the UN General assembly in September, China's
president Xi Jinping pledged that the country would reach peak carbon emissions by 2030 and achieve
carbon neutrality by 2060. In bond markets Germany raised EUR 6.5 billion from its first ever green bond
in early September, with plans for further issuance in the end of the year. In September, Mexico became
the first country in the world to issue a sovereign Sustainable Development Goals (SDG) bond.
Since the peak of the pandemic in the spring, the market narrative has been dominated by the transition to
a "new normal", driven by the forces of technological disruption, deficit spending, and further central bank
action. Those forces continued to drive equity markets higher in Q3, although the quarter comprised two
distinct parts. The first was a rally to record highs which peaked at the start of September. The second was
a pullback from the peak, accompanied by a rotation out of mega-cap tech stocks. At its peak, the tech-
heavy Nasdaq had rallied 76% from the March lows, and had risen 20% since the start of the quarter. Given
the weight of the mega-cap tech names in the S&P 500, the index rallied by 60% from the March trough
to the September peak, with a 16% gain in the first two months of Q3.
The figures stated in this report are historical and not necessarily indicative of future performance.
7
Annual report as of 31 December 2020
Letter to Shareholders (continued)
Returns on EUR government bonds were positive over the third quarter of 2020, while US government
bonds were largely unchanged after recovering in September amid rising concerns over rising COVID-
19 infections in Europe and a lack of progress in US fiscal stimulus negotiations. Credit spreads widened
in September, but narrowed over the full quarter as improved risk sentiment in July and August saw strong
buying in higher yielding credits. Consequently, spreads in markets such a US high yield, USD-
denominated emerging market sovereign or Asia high yields bonds declined over the third quarter of 2020.
In Q4, despite the continued challenging macro environment, markets have remained resilient and
investors have continued to make strategic allocations. Government fiscal intervention has helped with
this resilience and is critical to strengthen the economic normalisation process. Emerging Market
Equities and Sustainable Investing remain popular themes among investors through this turbulent
period. As we moved through the quarter, the US election results and the approval of vaccines, as well as
the beginning of mass vaccination roll outs has helped more cyclical segments of the market to continue
to recover. The quarter also ended with a UK-EU Brexit agreement to start 2021.
Global equities gained in fourth quarter as the vaccine breakthrough fostered hopes of a return to
economic normality. In November, the breakthrough in the hunt for an effective COVID-19 vaccine
rekindled interest in riskier investment. This triggered the most "violent" style rotation from cheap Value to
trendy Momentum, the scale of the switch even eclipsed the 2008 Financial Crisis or the dotcom bubble.
Emerging market equities returned their strongest quarterly return in over a decade, weak US dollar
partially contributed to the gains. Furthermore, a rally in commodity prices also helped EM exporters.
Within fixed income, spread sectors outperformed government bond yields as investor risk sentiment
remained generally positive over the course of the fourth quarter. US government bond yields rose
driven by prospects of increased fiscal spending under a Biden administration and renewed hopes of a
global economic rebound following the development of effective vaccines against COVID-19. Yields on
German Bunds declined slightly over the quarter as investors weighted the negative impact of COVID-
19-related lockdowns on economic activity in the Euro area against improving economic data among
some of the region’s largest economies. In spread sectors, high yield bonds outperformed their
investment grade counterparts although both ends of the credit quality spectrum generated positive
returns.
Our UBS ETFs seek to closely track the performance of the underlying market indices. The investment
returns of the Sub-Funds reflected the underlying market environment in 2020 and are shown in the
table on the following page, expressed in the base currency of each share class as well as the tracking
difference and the tracking error.
We thank you for the confidence you have shown in our family of UBS exchange-traded funds. We look
forward to your continued support and to meeting your investment goals in the years ahead.
Sincerely, 24 February 2021
Chairman of the Board of Directors
The figures stated in this report are historical and not necessarily indicative of future performance.
8
Annual report as of 31 December 2020
Performance tables
Performance from 1 January 2020 to 31 December 2020
Performance
Performance of the tracked Tracking Tracking error Total Expense
of the Sub-Fund index difference (ex post) Ratio (TER)
(in %) (1) (in %) (in %) (2) (in %) (3) (in %) (4)
Sub-Funds (unaudited) (unaudited) (unaudited) (unaudited) (audited)
UBS ETF – EURO STOXX 50 UCITS ETF (EUR) A-dis (2.94) (3.21) 0.27 0.16 0.15
UBS ETF – MSCI Europe UCITS ETF (EUR) A-dis (3.27) (3.32) 0.05 0.10 0.20
UBS ETF – MSCI Europe UCITS ETF (hedged to CHF) A-acc (2.21) (2.20) (0.01) 0.08 0.30
UBS ETF – MSCI Europe UCITS ETF (hedged to EUR) A-acc (2.19) (2.18) (0.01) 0.09 0.30
UBS ETF – MSCI Europe UCITS ETF (hedged to USD) A-acc (0.34) (0.39) 0.05 0.11 0.30
UBS ETF – MSCI EMU UCITS ETF (EUR) A-dis (0.85) (1.02) 0.17 0.12 0.18
UBS ETF – MSCI EMU UCITS ETF (EUR) A-acc (0.82) (1.02) 0.20 0.11 0.18
UBS ETF – MSCI EMU UCITS ETF (EUR) A-UKdis (0.85) (1.02) 0.17 0.12 0.18
UBS ETF – MSCI EMU UCITS ETF (hedged to CHF) A-acc ** 12.57 12.60 (0.03) N/A* 0.28
UBS ETF – MSCI EMU UCITS ETF (hedged to GBP) A-dis (1.39) (1.33) (0.06) 0.12 0.28
UBS ETF – MSCI EMU UCITS ETF (hedged to GBP) A-acc (1.27) (1.33) 0.06 0.12 0.28
UBS ETF – MSCI EMU UCITS ETF (hedged to USD) A-dis ** 15.50 15.52 (0.02) N/A* 0.28
UBS ETF – MSCI EMU UCITS ETF (hedged to USD) A-acc ** 15.49 15.52 (0.03) N/A* 0.28
UBS ETF – MSCI EMU UCITS ETF (hedged to SGD) A-acc (0.26) (0.38) 0.12 0.12 0.28
UBS ETF – MSCI EMU Select Factor Mix UCITS ETF (EUR) A-acc 0.18 0.09 0.09 0.19 0.34
UBS ETF – MSCI EMU Value UCITS ETF (EUR) A-dis (7.99) (8.19) 0.20 0.16 0.25
UBS ETF – MSCI EMU Small Cap UCITS ETF (EUR) A-dis 5.67 5.45 0.22 0.18 0.33
UBS ETF – Factor MSCI EMU Quality UCITS ETF (EUR) A-dis 5.74 5.80 (0.06) 0.08 0.28
UBS ETF – Factor MSCI EMU Quality UCITS ETF (hedged to CHF) A-acc 5.64 5.82 (0.18) 0.08 0.38
UBS ETF – Factor MSCI EMU Quality UCITS ETF (hedged to USD) A-acc 7.70 7.83 (0.13) 0.08 0.38
UBS ETF – Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (0.19) (0.47) 0.28 0.19 0.28
UBS ETF – Factor MSCI EMU Prime Value UCITS ETF (hedged to CHF) A-acc (0.17) (0.37) 0.20 0.18 0.38
UBS ETF – Factor MSCI EMU Prime Value UCITS ETF (hedged to USD) A-acc 1.83 1.58 0.25 0.17 0.38
UBS ETF – Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis (8.04) (8.11) 0.07 0.10 0.28
UBS ETF – Factor MSCI EMU Low Volatility UCITS ETF (hedged to CHF) A-acc (8.14) (8.11) (0.03) 0.10 0.38
UBS ETF – Factor MSCI EMU Low Volatility UCITS ETF (hedged to USD) A-acc (6.38) (6.38) 0.00 0.09 0.38
UBS ETF – FTSE 100 UCITS ETF (GBP) A-dis (11.77) (11.55) (0.22) 0.14 0.20
UBS ETF – MSCI United Kingdom UCITS ETF (GBP) A-dis (13.46) (13.23) (0.23) 0.22 0.20
UBS ETF – MSCI United Kingdom UCITS ETF (GBP) A-acc (13.42) (13.23) (0.19) 0.22 0.20
UBS ETF – MSCI United Kingdom UCITS ETF (GBP) A-UKdis (13.47) (13.23) (0.24) 0.22 0.20
UBS ETF – MSCI United Kingdom UCITS ETF (hedged to CHF) A-acc ** 3.96 4.19 (0.23) N/A* 0.30
UBS ETF – MSCI United Kingdom UCITS ETF (hedged to EUR) A-acc ** 5.75 5.96 (0.21) N/A* 0.30
UBS ETF – MSCI United Kingdom UCITS ETF (hedged to USD) A-acc ** 6.29 6.54 (0.25) N/A* 0.30
UBS ETF – MSCI United Kingdom UCITS ETF (hedged to SGD) A-acc (12.95) (12.68) (0.27) 0.22 0.30
UBS ETF – MSCI Japan UCITS ETF (JPY) A-dis 8.58 8.76 (0.18) 0.12 0.19
UBS ETF – MSCI Japan UCITS ETF (JPY) A-acc 8.60 8.76 (0.16) 0.11 0.19
UBS ETF – MSCI Japan UCITS ETF (JPY) A-UKdis 8.58 8.76 (0.18) 0.12 0.19
UBS ETF – MSCI Japan UCITS ETF (hedged to CHF) A-acc ** 15.71 15.88 (0.17) N/A* 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to EUR) A-dis ** 17.18 17.33 (0.15) N/A* 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to EUR) A-acc ** 17.15 17.33 (0.18) N/A* 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to GBP) A-dis 7.89 8.25 (0.36) 0.14 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to GBP) A-acc 7.91 8.25 (0.34) 0.14 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to USD) A-acc ** 17.90 18.07 (0.17) N/A* 0.29
UBS ETF – MSCI Japan UCITS ETF (hedged to SGD) A-acc 8.47 8.80 (0.33) 0.13 0.29
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis ***, (a) 8.99 9.29 (0.30) 0.16 0.29
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis ***, (a) 3.31 3.24 0.07 0.16 0.29
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (JPY) A-acc ***, (a) 9.00 9.29 (0.29) 0.16 0.24
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (JPY) A-acc ***, (a) 3.31 3.24 0.07 0.16 0.24
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (b) 8.09 8.48 (0.39) 0.19 0.35
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (b) 3.21 3.14 0.07 0.19 0.35
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to EUR) A-acc ***, (c) 8.07 8.46 (0.39) 0.18 0.35
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to EUR) A-acc ***, (c) 3.22 3.15 0.07 0.18 0.35
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to USD) A-acc ***, (d) 9.80 10.21 (0.41) 0.17 0.37
UBS ETF – MSCI Japan Socially Responsible UCITS ETF (hedged to USD) A-acc ***, (d) 3.42 3.35 0.07 0.17 0.37
UBS ETF – MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis 6.38 6.55 (0.17) 0.07 0.30
UBS ETF – MSCI Pacific (ex Japan) UCITS ETF (USD) A-acc 6.35 6.55 (0.20) 0.06 0.30
UBS ETF – MSCI Pacific (ex Japan) UCITS ETF (USD) A-UKdis 6.38 6.55 (0.17) 0.07 0.30
UBS ETF – MSCI USA UCITS ETF (USD) A-dis 20.61 20.73 (0.12) 0.04 0.14
UBS ETF – MSCI USA UCITS ETF (USD) A-UKdis 20.61 20.73 (0.12) 0.04 0.14
UBS ETF – MSCI Canada UCITS ETF (CAD) A-dis 3.47 3.47 0.00 0.18 0.33
UBS ETF – MSCI Canada UCITS ETF (CAD) A-acc 3.48 3.47 0.01 0.18 0.33
UBS ETF – MSCI Canada UCITS ETF (CAD) A-UKdis 3.47 3.47 0.00 0.18 0.33
UBS ETF – MSCI Canada UCITS ETF (hedged to CHF) A-acc 3.44 3.65 (0.21) 0.17 0.43
UBS ETF – MSCI Canada UCITS ETF (hedged to EUR) A-acc 3.67 3.80 (0.13) 0.18 0.43
UBS ETF – MSCI Canada UCITS ETF (hedged to GBP) A-dis 3.34 3.47 (0.13) 0.18 0.43
UBS ETF – MSCI Canada UCITS ETF (hedged to GBP) A-acc 3.33 3.47 (0.14) 0.17 0.43
UBS ETF – MSCI Canada UCITS ETF (hedged to USD) A-acc 5.72 5.84 (0.12) 0.19 0.43
UBS ETF – MSCI Canada UCITS ETF (hedged to SGD) A-acc 4.54 4.65 (0.11) 0.18 0.43
UBS ETF – MSCI Singapore UCITS ETF (SGD) A-dis (9.40) (9.05) (0.35) 0.04 0.45
UBS ETF – MSCI Hong Kong UCITS ETF (HKD) A-dis 4.74 5.31 (0.57) 0.13 0.45
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (CHF) A-dis 2.08 2.28 (0.20) 0.04 0.20
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (CHF) A-acc 2.12 2.28 (0.16) 0.02 0.20
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (CHF) A-UKdis 2.08 2.28 (0.20) 0.04 0.20
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to EUR) A-dis ** 6.39 6.45 (0.06) N/A* 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to EUR) A-acc ** 4.67 4.76 (0.09) N/A* 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to GBP) A-dis 2.24 2.58 (0.34) 0.05 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to GBP) A-acc 2.30 2.58 (0.28) 0.02 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to USD) A-dis ** 7.14 7.24 (0.10) N/A* 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to USD) A-acc ** 7.13 7.24 (0.11) N/A* 0.30
UBS ETF – MSCI Switzerland 20/35 UCITS ETF (hedged to SGD) A-acc 3.04 3.29 (0.25) 0.03 0.30
UBS ETF – MSCI World UCITS ETF (USD) A-dis 15.63 15.90 (0.27) 0.06 0.30
UBS ETF – MSCI Emerging Markets UCITS ETF (USD) A-dis 17.90 18.10 (0.20) 0.50 0.22
UBS ETF – MSCI Emerging Markets UCITS ETF (USD) A-acc 17.90 18.10 (0.20) 0.50 0.23
UBS ETF – MSCI Emerging Markets UCITS ETF (USD) A-UKdis 17.90 18.10 (0.20) 0.50 0.23
UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF (USD) A-dis ***, (e) 8.70 8.83 (0.13) 0.41 0.31
UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF (USD) A-dis ***, (e) 5.92 6.18 (0.26) 0.41 0.31
UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF(USD) A-acc***, (e) 8.70 8.83 (0.13) 0.41 0.30
UBS ETF – MSCI Emerging Markets Socially Responsible UCITS ETF (USD) A-acc ***, (e) 5.92 6.18 (0.26) 0.41 0.30
UBS ETF – MSCI World Socially Responsible UCITS ETF (USD) A-dis ***, (f) 13.76 13.88 (0.12) 0.04 0.23
UBS ETF – MSCI World Socially Responsible UCITS ETF (USD) A-dis ***, (f) 3.63 3.65 (0.02) 0.04 0.23
UBS ETF – MSCI World Socially Responsible UCITS ETF (USD) A-acc ***, (f) 13.77 13.88 (0.11) 0.04 0.23
UBS ETF – MSCI World Socially Responsible UCITS ETF (USD) A-acc ***, (f) 3.63 3.65 (0.02) 0.04 0.23
UBS ETF – MSCI USA Socially Responsible UCITS ETF (USD) A-dis ***, (g) 18.77 19.10 (0.33) 0.05 0.25
UBS ETF – MSCI USA Socially Responsible UCITS ETF (USD) A-dis ***, (g) 3.19 3.19 0.00 0.05 0.25
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (h) 16.22 16.62 (0.40) 0.05 0.29
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (h) 2.97 2.98 (0.01) 0.05 0.29
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to CHF) A-acc ***, (h) 16.25 16.62 (0.37) 0.05 0.28
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to CHF) A-acc ***, (h) 2.97 2.98 (0.01) 0.05 0.28
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to EUR) A-dis ***, (i) 16.25 16.64 (0.39) 0.05 0.28
UBS ETF – MSCI USA Socially Responsible UCITS ETF (hedged to EUR) A-dis ***, (i) 2.99 3.00 (0.01) 0.05 0.28
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (EUR) A-dis ***, (j) (3.05) (3.32) 0.27 0.17 0.25
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (EUR) A-dis ***, (j) 1.30 1.34 (0.04) 0.17 0.25
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (EUR) A-acc ***, (j) (3.02) (3.32) 0.30 0.15 0.25
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (EUR) A-acc ***, (j) 1.30 1.34 (0.04) 0.15 0.25
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (k) (3.05) (3.22) 0.17 0.17 0.32
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to CHF) A-dis ***, (k) 1.29 1.33 (0.04) 0.17 0.32
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to CHF) A-acc ***, (k) (3.01) (3.22) 0.21 0.16 0.31
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to CHF) A-acc ***, (k) 1.29 1.33 (0.04) 0.16 0.31
9
Annual report as of 31 December 2020
Performance tables (continued)
Performance from 1 January 2020 to 31 December 2020 (continued)
Performance
Performance of the tracked Tracking Tracking error Total Expense
of the Sub-Fund index difference (ex post) Ratio (TER)
(in %) (1) (in %) (in %) (2) (in %) (3) (in %) (4)
Sub-Funds (unaudited) (unaudited) (unaudited) (unaudited) (audited)
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to GBP) A-dis **, (l) 19.28 19.06 0.22 N/A* 0.28
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to GBP) A-dis **, (l) 1.36 1.40 (0.04) N/A* 0.28
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to USD) A-acc ***, (m) (1.26) (1.51) 0.25 0.16 0.31
UBS ETF – MSCI EMU Socially Responsible UCITS ETF (hedged to USD) A-acc ***, (m) 1.45 1.50 (0.05) 0.16 0.31
UBS ETF – MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (n) 9.38 9.55 (0.17) 0.19 0.40
UBS ETF – MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (n) 4.37 4.38 (0.01) 0.19 0.40
UBS ETF – MSCI Pacific Socially Responsible UCITS ETF (USD) A-acc **, (n) 17.78 17.96 (0.18) N/A* 0.40
UBS ETF – MSCI Pacific Socially Responsible UCITS ETF (USD) A-acc **, (n) 4.37 4.38 (0.01) N/A* 0.40
UBS ETF – Bloomberg Barclays US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis 3.04 3.16 (0.12) 0.04 0.12
UBS ETF – Bloomberg Barclays US 1-3 Year Treasury Bond UCITS ETF (USD) A-acc 3.03 3.16 (0.13) 0.04 0.12
UBS ETF – Bloomberg Barclays US 1-3 Year Treasury Bond UCITS ETF (hedged to EUR) A-dis 1.68 1.89 (0.21) 0.03 0.17
UBS ETF – Bloomberg Barclays US 7-10 Year Treasury Bond UCITS ETF (USD) A-dis 9.86 9.98 (0.12) 0.02 0.12
UBS ETF – Bloomberg Barclays US 7-10 Year Treasury Bond UCITS ETF (USD) A-acc 9.86 9.98 (0.12) 0.02 0.12
UBS ETF – Bloomberg Barclays US 10+ Year Treasury Bond UCITS ETF (hedged to EUR) A-dis 15.89 16.29 (0.40) 0.06 0.25
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF (USD) A-dis 8.23 8.39 (0.16) 0.05 0.15
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF (USD) A-acc 8.23 8.39 (0.16) 0.05 0.15
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF (hedged to CHF) A-acc 6.32 6.57 (0.25) 0.05 0.20
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF (hedged to EUR) A-acc 6.66 6.90 (0.24) 0.06 0.20
UBS ETF – Bloomberg Barclays TIPS 1-10 UCITS ETF (hedged to GBP) A-acc 7.36 7.61 (0.25) 0.05 0.20
UBS ETF – Bloomberg Barclays TIPS 10+ UCITS ETF (USD) A-dis 25.03 25.33 (0.30) 0.09 0.20
UBS ETF – Bloomberg Barclays TIPS 10+ UCITS ETF (hedged to EUR) A-acc ** 13.16 13.42 (0.26) N/A* 0.25
UBS ETF – Bloomberg Barclays TIPS 10+ UCITS ETF (hedged to GBP) A-dis 23.66 24.11 (0.45) 0.08 0.25
UBS ETF – Bloomberg Barclays Euro Inflation Linked 1-10 UCITS ETF (EUR) A-dis 0.39 0.60 (0.21) 0.10 0.20
UBS ETF – Bloomberg Barclays Euro Inflation Linked 10+ UCITS ETF (EUR) A-dis 9.17 9.51 (0.34) 0.16 0.20
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates UCITS ETF (EUR) A-dis 3.10 3.41 (0.31) 0.15 0.18
UBS ETF – Bloomberg Barclays EUR Treasury 1-10 UCITS ETF (EUR) A-dis 1.91 2.12 (0.21) 0.03 0.17
UBS ETF – SBI® Foreign AAA-BBB 1-5 UCITS ETF (CHF) A-dis (0.26) 0.01 (0.27) 0.10 0.20
UBS ETF – SBI® Foreign AAA-BBB 5-10 UCITS ETF (CHF) A-dis 0.39 0.49 (0.10) 0.14 0.20
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF (EUR) A-dis 0.89 1.15 (0.26) 0.07 0.18
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF (hedged to CHF) A-
acc 0.49 0.83 (0.34) 0.07 0.23
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF (hedged to USD) A-
acc 2.20 2.50 (0.30) 0.07 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis 5.02 5.36 (0.34) 0.14 0.18
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF (USD) A-acc 5.02 5.36 (0.34) 0.14 0.18
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF (hedged to CHF) A-acc 3.21 3.63 (0.42) 0.14 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF (hedged to EUR) A-acc 3.54 3.95 (0.41) 0.14 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF (hedged to GBP) A-dis 4.17 4.59 (0.42) 0.14 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF (USD) A-dis 9.87 10.20 (0.33) 0.21 0.18
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF (USD) A-acc 9.86 10.20 (0.34) 0.21 0.18
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF (hedged to CHF) A-acc 7.89 8.27 (0.38) 0.19 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF (hedged to EUR) A-acc 8.15 8.58 (0.43) 0.22 0.23
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF (hedged to GBP) A-dis 8.65 9.12 (0.47) 0.21 0.23
UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-dis 10.36 10.42 (0.06) 0.10 0.20
UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (USD) A-acc 10.36 10.42 (0.06) 0.10 0.20
UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (hedged to CHF)
A-dis 8.34 8.49 (0.15) 0.10 0.25
UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (hedged to EUR)
A-acc 8.66 8.81 (0.15) 0.10 0.25
UBS ETF – Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (hedged to GBP)
A-dis 9.23 9.38 (0.15) 0.10 0.25
UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-
dis 3.07 3.32 (0.25) 0.12 0.20
UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-
acc 3.07 3.32 (0.25) 0.12 0.20
UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (hedged to
CHF) A-dis 2.64 2.98 (0.34) 0.13 0.25
UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (hedged to
CHF) A-acc 2.67 2.98 (0.31) 0.12 0.25
UBS ETF – Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (hedged to
USD) A-dis ** 3.21 3.36 (0.15) N/A* 0.25
UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF (USD) A-dis 4.64 4.65 (0.01) 0.35 0.42
UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF (USD) A-acc 4.64 4.65 (0.01) 0.35 0.42
UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF (hedged to CHF) A-acc 2.58 2.65 (0.07) 0.37 0.47
UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF (hedged to EUR) A-acc 2.77 2.83 (0.06) 0.37 0.47
UBS ETF – Bloomberg Barclays USD Emerging Markets Sovereign UCITS ETF (hedged to GBP) A-dis 3.09 3.15 (0.06) 0.37 0.47
UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis 2.91 3.19 (0.28) 0.29 0.42
UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (hedged to CHF) A-acc 1.06 1.47 (0.41) 0.28 0.47
UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (hedged to EUR) A-dis 1.36 1.72 (0.36) 0.30 0.47
UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (hedged to EUR) A-acc 1.31 1.72 (0.41) 0.29 0.47
UBS ETF – J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (hedged to GBP) A-dis 1.71 2.16 (0.45) 0.34 0.47
UBS ETF – J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis 2.02 2.43 (0.41) 1.03 0.47
UBS ETF – J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-acc 2.02 2.43 (0.41) 1.03 0.47
UBS ETF – Bloomberg Barclays Euro Liquid Aggregate ex-Financials 1-5 HQLA UCITS ETF (EUR) A-dis
**** 0.47 0.77 (0.30) 0.08 0.18
UBS ETF – Sustainable Development Bank Bonds UCITS ETF (USD) A-dis 4.86 5.03 (0.17) 0.03 0.18
UBS ETF – Sustainable Development Bank Bonds UCITS ETF (USD) A-acc 4.86 5.03 (0.17) 0.03 0.18
UBS ETF – Sustainable Development Bank Bonds UCITS ETF (hedged to CHF) A-acc 3.14 3.36 (0.22) 0.03 0.23
UBS ETF – Sustainable Development Bank Bonds UCITS ETF (hedged to EUR) A-acc 3.50 3.72 (0.22) 0.03 0.23
UBS ETF – Sustainable Development Bank Bonds UCITS ETF (hedged to GBP) A-dis ** 0.31 0.50 (0.19) N/A* 0.23
UBS ETF – EURO STOXX 50 ESG UCITS ETF (EUR) A-dis 0.15 0.04 0.11 0.16 0.15
UBS ETF – MSCI China ESG Universal UCITS ETF (USD) A-dis 30.55 31.53 (0.98) 0.25 0.65
UBS ETF – J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc 8.69 9.03 (0.34) 0.18 0.45
UBS ETF – J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (hedged to CHF) A-acc ** 4.30 4.64 (0.34) N/A* 0.50
UBS ETF – J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (hedged to EUR) A-acc 6.95 7.43 (0.48) 0.17 0.50
UBS ETF – J.P. Morga