UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Corporate Bonds
Advertising (0.39%)
JCDecaux 1.000% 01/06/2023 600,000 616,992 0.17
Publicis Groupe 0.500% 03/11/2023 800,000 805,328 0.22
Aerospace & Defense (0.42%)
Thales 31/05/2022 (zero coupon) 500,000 500,160 0.14
Thales 0.750% 07/06/2023 500,000 510,700 0.14
Thales 0.875% 19/04/2024 500,000 514,055 0.14
Airlines (0.49%)
Deutsche Lufthansa 0.250% 06/09/2024 400,000 398,856 0.11
Ryanair 1.125% 10/03/2023 1,000,000 1,024,080 0.28
Ryanair 1.125% 15/08/2023 350,000 359,534 0.10
Apparel (0.74%)
LVMH Moet Hennessy Louis Vuitton 0.375% 26/05/2022 900,000 910,215 0.25
LVMH Moet Hennessy Louis Vuitton 0.125% 28/02/2023 1,800,000 1,811,304 0.49
Auto Manufacturers (14.09%)
BMW Finance 0.125% 29/11/2021 500,000 502,275 0.14
BMW Finance 0.250% 14/01/2022 800,000 805,800 0.22
BMW Finance 1.000% 15/02/2022 700,000 716,506 0.20
BMW Finance 1.250% 05/09/2022 700,000 723,793 0.20
BMW Finance 0.500% 22/11/2022 2,000,000 2,028,740 0.55
BMW Finance 0.375% 10/07/2023 1,250,000 1,263,312 0.34
BMW Finance 0.625% 06/10/2023 3,100,000 3,160,512 0.86
BMW Finance 0.750% 12/07/2024 800,000 821,112 0.22
BMW FINANCE 0.125% 13/07/2022 1,000,000 1,003,870 0.27
BMW US Capital 1.125% 18/09/2021 900,000 920,250 0.25
BMW US Capital 0.625% 20/04/2022 900,000 914,256 0.25
Daimler 0.750% 11/05/2023 200,000 204,694 0.06
Daimler 08/02/2024 (zero coupon) 300,000 296,253 0.08
Daimler International Finance 0.250% 09/08/2021 3,000,000 3,014,550 0.82
Daimler International Finance 0.200% 13/09/2021 800,000 803,216 0.22
Daimler International Finance 0.250% 11/05/2022 600,000 602,814 0.16
Daimler International Finance 0.625% 27/02/2023 1,950,000 1,976,715 0.54
Daimler International Finance 0.250% 06/11/2023 300,000 299,826 0.08
Daimler International Finance 0.875% 09/04/2024 2,849,000 2,917,177 0.79
Peugeot 2.375% 14/04/2023 400,000 427,888 0.12
Peugeot 2.000% 23/03/2024 600,000 638,952 0.17
RCI Banque 0.250% 12/07/2021 700,000 702,786 0.19
RCI Banque 0.625% 10/11/2021 900,000 908,289 0.25
RCI Banque 0.750% 12/01/2022 400,000 403,976 0.11
RCI Banque 1.250% 08/06/2022 500,000 512,140 0.14
RCI Banque 0.750% 26/09/2022 1,214,000 1,226,893 0.33
RCI Banque 0.750% 10/04/2023 1,100,000 1,107,106 0.30
RCI Banque 1.000% 17/05/2023 500,000 508,075 0.14
RCI Banque 0.500% 15/09/2023 800,000 799,168 0.22
RCI Banque 1.375% 08/03/2024 300,000 308,574 0.08
RCI Banque 2.000% 11/07/2024 300,000 316,062 0.09
Renault 1.000% 08/03/2023 900,000 912,600 0.25
Renault 1.000% 18/04/2024 1,000,000 1,004,130 0.27
Volkswagen Bank 0.625% 08/09/2021 500,000 505,120 0.14
Volkswagen Bank 0.750% 15/06/2023 800,000 810,264 0.22
Volkswagen Bank 1.875% 31/01/2024 700,000 736,351 0.20
Volkswagen Bank 1.250% 10/06/2024 1,200,000 1,232,652 0.34
VOLKSWAGEN BANK 1.250% 01/08/2022 800,000 821,296 0.22
Volkswagen Financial Services 0.375% 12/04/2021 700,000 703,213 0.19
Volkswagen Financial Services 0.750% 14/10/2021 800,000 810,920 0.22
Volkswagen Financial Services 0.625% 01/04/2022 800,000 808,120 0.22
Volkswagen Financial Services 0.875% 12/04/2023 700,000 711,333 0.19
Volkswagen Financial Services 1.375% 16/10/2023 700,000 722,645 0.20
Volkswagen International Finance 0.500% 30/03/2021 1,200,000 1,207,752 0.33
Volkswagen International Finance 0.875% 16/01/2023 1,000,000 1,018,330 0.28
Volkswagen International Finance 1.125% 02/10/2023 1,600,000 1,641,168 0.45
Volkswagen International Finance 2.500% Perpetual 850,000 873,936 0.24
The accompanying notes form an integral part of these financial statements.
338
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Auto Manufacturers (14.09%) (continued)
Volkswagen International Finance 2.700% Perpetual 1,600,000 1,660,880 0.45
Volkswagen International Finance 3.375% Perpetual 1,300,000 1,387,672 0.38
Volkswagen Leasing 0.250% 16/02/2021 200,000 200,722 0.05
Volkswagen Leasing 0.500% 20/06/2022 1,200,000 1,208,220 0.33
Volkswagen Leasing 1.000% 16/02/2023 1,000,000 1,019,960 0.28
Volkswagen Leasing 1.125% 04/04/2024 900,000 920,016 0.25
Auto Parts & Equipment (1.18%)
Continental 12/09/2023 (zero coupon) 500,000 496,100 0.13
Schaeffler 1.125% 26/03/2022 600,000 612,672 0.17
Schaeffler 1.875% 26/03/2024 700,000 731,738 0.20
Valeo 0.375% 12/09/2022 500,000 503,130 0.14
Valeo 0.625% 11/01/2023 500,000 505,430 0.14
ZF Europe Finance 1.250% 23/10/2023 300,000 306,615 0.08
ZF North America Capital 2.750% 27/04/2023 1,100,000 1,181,763 0.32
Banks (36.89%)
ABN AMRO Bank 0.250% 03/12/2021 400,000 402,488 0.11
ABN AMRO Bank 0.625% 31/05/2022 100,000 101,617 0.03
ABN AMRO Bank 0.500% 17/07/2023 1,800,000 1,825,362 0.50
ABN AMRO Bank 0.875% 15/01/2024 1,500,000 1,544,190 0.42
ABN AMRO Bank 2.875% 18/01/2028 900,000 962,523 0.26
Achmea Bank 1.125% 25/04/2022 600,000 615,600 0.17
AIB Group 1.500% 29/03/2023 800,000 827,544 0.23
AIB Group 1.250% 28/05/2024 300,000 308,526 0.08
Argenta Spaarbank 3.875% 24/05/2026 500,000 521,515 0.14
ARGENTA SPAARBANK 1.000% 06/02/2024 400,000 411,600 0.11
Banco Bilbao Vizcaya Argentaria 1.000% 20/01/2021 800,000 810,080 0.22
Banco Bilbao Vizcaya Argentaria 0.625% 17/01/2022 1,000,000 1,014,400 0.28
Banco Bilbao Vizcaya Argentaria 0.750% 11/09/2022 1,400,000 1,423,478 0.39
Banco Bilbao Vizcaya Argentaria 1.125% 28/02/2024 900,000 926,226 0.25
Banco Bilbao Vizcaya Argentaria 0.375% 02/10/2024 600,000 596,604 0.16
Banco Bilbao Vizcaya Argentaria 2.575% 22/02/2029 700,000 746,662 0.20
Banco de Sabadell 0.875% 05/03/2023 800,000 809,600 0.22
Banco de Sabadell 1.625% 07/03/2024 900,000 936,936 0.26
Banco de Sabadell 1.750% 10/05/2024 900,000 929,124 0.25
Banco de Sabadell 0.625% 07/11/2025 300,000 297,594 0.08
Banco Santander 1.375% 03/03/2021 700,000 713,293 0.19
Banco Santander 1.375% 09/02/2022 1,500,000 1,542,675 0.42
Banco Santander 1.375% 14/12/2022 1,200,000 1,248,384 0.34
Banco Santander 0.250% 19/06/2024 1,100,000 1,103,718 0.30
Bank of Ireland Group 1.375% 29/08/2023 820,000 846,683 0.23
Bank of Ireland Group 0.750% 08/07/2024 400,000 402,708 0.11
Bank of Ireland Group 1.000% 25/11/2025 900,000 905,580 0.25
Bankia 0.875% 25/03/2024 500,000 511,285 0.14
Bankia 1.000% 25/06/2024 400,000 405,000 0.11
Bankinter 0.875% 05/03/2024 500,000 513,875 0.14
Bankinter 2.500% 06/04/2027 300,000 313,017 0.09
Banque Federative du Credit Mutuel 0.125% 30/08/2021 100,000 100,383 0.03
Banque Federative du Credit Mutuel 0.375% 13/01/2022 1,600,000 1,613,680 0.44
Banque Federative du Credit Mutuel 0.500% 16/11/2022 1,500,000 1,520,850 0.41
Banque Federative du Credit Mutuel 0.750% 15/06/2023 2,100,000 2,148,174 0.58
Banque Federative du Credit Mutuel 0.125% 05/02/2024 400,000 399,288 0.11
Belfius Bank 0.750% 12/09/2022 1,000,000 1,018,460 0.28
Belfius Bank 1.000% 26/10/2024 500,000 514,840 0.14
Berlin Hyp 0.375% 28/08/2023 700,000 707,238 0.19
Berlin Hyp 0.500% 26/09/2023 100,000 101,374 0.03
BNP Paribas 0.500% 01/06/2022 500,000 507,435 0.14
BNP Paribas 0.750% 11/11/2022 1,400,000 1,431,178 0.39
BNP Paribas 1.125% 15/01/2023 900,000 930,222 0.25
BNP Paribas 1.125% 10/10/2023 700,000 723,191 0.20
BNP Paribas 1.125% 22/11/2023 1,200,000 1,240,116 0.34
BNP Paribas 1.000% 17/04/2024 600,000 618,252 0.17
BNP Paribas 1.000% 27/06/2024 900,000 926,397 0.25
BNP Paribas 1.125% 28/08/2024 400,000 413,968 0.11
BNP Paribas 0.500% 15/07/2025 400,000 401,420 0.11
BPCE 1.125% 18/01/2023 900,000 926,496 0.25
The accompanying notes form an integral part of these financial statements.
339
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Banks (36.89%) (continued)
BPCE 0.625% 26/09/2023 1,600,000 1,630,976 0.44
BPCE 0.375% 05/10/2023 1,600,000 1,616,592 0.44
BPCE 0.875% 31/01/2024 800,000 818,096 0.22
BPCE 1.000% 15/07/2024 600,000 622,026 0.17
BPCE 0.625% 26/09/2024 700,000 708,064 0.19
BPCE 0.125% 04/12/2024 900,000 896,076 0.24
BPCE 2.750% 30/11/2027 400,000 427,576 0.12
CaixaBank 1.125% 12/01/2023 1,100,000 1,124,255 0.31
CaixaBank 0.750% 18/04/2023 1,100,000 1,118,469 0.30
CaixaBank 1.750% 24/10/2023 500,000 523,285 0.14
CaixaBank 2.375% 01/02/2024 1,400,000 1,502,466 0.41
CaixaBank 1.125% 17/05/2024 800,000 827,160 0.23
CaixaBank 0.625% 01/10/2024 1,200,000 1,198,716 0.33
CaixaBank 3.500% 15/02/2027 1,100,000 1,161,930 0.32
CaixaBank 2.750% 14/07/2028 700,000 740,089 0.20
Commerzbank 0.500% 06/12/2021 700,000 707,224 0.19
Commerzbank 0.500% 28/08/2023 1,300,000 1,312,831 0.36
Commerzbank 0.500% 13/09/2023 1,400,000 1,403,780 0.38
Commerzbank 1.250% 23/10/2023 800,000 823,400 0.22
Commerzbank 0.625% 28/08/2024 400,000 405,452 0.11
Commerzbank 0.250% 16/09/2024 600,000 589,176 0.16
Cooperatieve Rabobank 0.500% 06/12/2022 1,000,000 1,016,620 0.28
Cooperatieve Rabobank 0.750% 29/08/2023 1,000,000 1,024,060 0.28
Cooperatieve Rabobank 0.625% 27/02/2024 1,200,000 1,224,096 0.33
Credit Agricole 0.875% 19/01/2022 1,200,000 1,224,588 0.33
Credit Agricole 0.750% 01/12/2022 1,100,000 1,125,773 0.31
Credit Agricole 0.750% 05/12/2023 600,000 615,630 0.17
Credit Agricole 0.500% 24/06/2024 1,900,000 1,917,157 0.52
Credit Agricole 1.000% 16/09/2024 200,000 207,682 0.06
Credit Mutuel Arkea 1.000% 26/01/2023 300,000 308,793 0.08
Credit Mutuel Arkea 0.875% 05/10/2023 800,000 819,632 0.22
Credit Mutuel Arkea 1.250% 31/05/2024 300,000 309,984 0.08
Credit Mutuel Arkea 1.875% 25/10/2029 200,000 205,234 0.06
de Volksbank 0.750% 25/06/2023 500,000 510,980 0.14
de Volksbank 0.010% 16/09/2024 500,000 494,680 0.13
de Volksbank 3.750% 05/11/2025 400,000 411,796 0.11
Deutsche Bank 0.375% 18/01/2021 400,000 399,444 0.11
Deutsche Bank 1.625% 12/02/2021 1,300,000 1,315,561 0.36
Deutsche Bank 1.500% 20/01/2022 1,800,000 1,824,210 0.50
Deutsche Bank 1.875% 14/02/2022 800,000 816,976 0.22
Deutsche Bank 1.125% 30/08/2023 1,150,000 1,181,303 0.32
Deutsche Pfandbriefbank 0.875% 29/01/2021 400,000 403,268 0.11
Deutsche Pfandbriefbank 0.625% 23/02/2022 500,000 505,125 0.14
Deutsche Pfandbriefbank 0.750% 07/02/2023 700,000 711,473 0.19
Deutsche Pfandbriefbank 0.125% 05/09/2024 300,000 296,712 0.08
DVB Bank 0.875% 09/04/2021 200,000 202,070 0.06
DVB Bank 1.250% 15/09/2021 500,000 509,905 0.14
DVB Bank 1.000% 25/04/2022 500,000 509,350 0.14
DVB Bank 1.250% 16/06/2023 500,000 516,255 0.14
Erste Group Bank 0.375% 16/04/2024 400,000 404,448 0.11
Euroclear Bank 0.250% 07/09/2022 400,000 402,472 0.11
Euroclear Bank 0.500% 10/07/2023 500,000 507,920 0.14
Hamburg Commercial Bank 0.500% 23/05/2022 500,000 502,290 0.14
HSBC France 0.200% 04/09/2021 1,700,000 1,708,908 0.47
HSBC France 0.600% 20/03/2023 1,000,000 1,017,180 0.28
HSBC France 0.250% 17/05/2024 800,000 803,584 0.22
ING Bank 0.750% 22/02/2021 1,300,000 1,314,469 0.36
ING Bank 0.375% 26/11/2021 1,500,000 1,514,715 0.41
ING Bank 08/04/2022 (zero coupon) 1,400,000 1,402,226 0.38
ING Groep 0.750% 09/03/2022 1,500,000 1,524,225 0.42
ING Groep 1.000% 20/09/2023 300,000 308,733 0.08
ING Groep 3.000% 11/04/2028 1,400,000 1,507,884 0.41
ING Groep 2.500% 15/02/2029 700,000 749,203 0.20
ING Groep 1.625% 26/09/2029 700,000 724,556 0.20
ING GROEP 0.100% 03/09/2025 1,000,000 984,880 0.27
Intesa Sanpaolo 1.125% 04/03/2022 850,000 867,153 0.24
Intesa Sanpaolo 0.875% 27/06/2022 450,000 457,479 0.12
The accompanying notes form an integral part of these financial statements.
340
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Banks (36.89%) (continued)
Intesa Sanpaolo 2.125% 30/08/2023 1,400,000 1,480,206 0.40
Intesa Sanpaolo 1.375% 18/01/2024 1,100,000 1,133,022 0.31
Intesa Sanpaolo 1.000% 04/07/2024 1,500,000 1,522,530 0.41
Intesa Sanpaolo 0.750% 04/12/2024 500,000 502,285 0.14
KBC Group 1.000% 26/04/2021 700,000 710,542 0.19
KBC Group 0.750% 01/03/2022 1,100,000 1,118,843 0.30
KBC Group 0.875% 27/06/2023 500,000 513,535 0.14
KBC Group 0.750% 18/10/2023 800,000 816,384 0.22
KBC Group 1.125% 25/01/2024 800,000 828,488 0.23
KBC Group 1.875% 11/03/2027 800,000 827,720 0.23
KBC Group 0.500% 03/12/2029 1,000,000 984,260 0.27
Kutxabank 0.500% 25/09/2024 300,000 300,018 0.08
Mediobanca Banca di Credito Finanziario 1.625% 19/01/2021 400,000 406,784 0.11
Mediobanca Banca di Credito Finanziario 0.625% 27/09/2022 800,000 807,480 0.22
Nationale-Nederlanden Bank NV/The Netherlands 0.375% 31/05/2023 500,000 504,190 0.14
NIBC Bank 1.500% 31/01/2022 500,000 514,830 0.14
NIBC Bank 1.125% 19/04/2023 400,000 410,808 0.11
Nordea Bank 0.300% 30/06/2022 745,000 752,249 0.20
Nordea Bank 1.000% 22/02/2023 650,000 669,487 0.18
Nordea Bank 0.875% 26/06/2023 1,400,000 1,433,124 0.39
Nordea Bank 1.000% 07/09/2026 1,000,000 1,012,150 0.28
OP Corporate Bank 0.750% 03/03/2022 900,000 916,488 0.25
OP Corporate Bank 0.375% 11/10/2022 400,000 404,388 0.11
OP Corporate Bank 0.375% 29/08/2023 100,000 101,191 0.03
OP Corporate Bank 0.375% 26/02/2024 700,000 708,442 0.19
OP Corporate Bank 0.375% 19/06/2024 700,000 700,483 0.19
PSA Banque France 0.625% 10/10/2022 600,000 607,818 0.17
PSA Banque France 0.750% 19/04/2023 400,000 406,272 0.11
Raiffeisen Bank International 0.250% 05/07/2021 500,000 502,585 0.14
Raiffeisen Bank International 1.000% 04/12/2023 300,000 310,554 0.08
Raiffeisenlandesbank Niederoesterreich-Wien 0.250% 16/04/2024 200,000 198,586 0.05
Raiffeisenlandesbank Oberoesterreich 0.750% 22/05/2023 500,000 507,330 0.14
Santander Consumer Bank 0.750% 17/10/2022 400,000 405,996 0.11
SANTANDER CONSUMER BANK 0.250% 15/10/2024 500,000 498,745 0.14
Societe Generale 0.125% 05/10/2021 500,000 502,100 0.14
Societe Generale 0.250% 18/01/2022 2,000,000 2,012,260 0.55
Societe Generale 1.000% 01/04/2022 1,100,000 1,124,222 0.31
Societe Generale 27/05/2022 (zero coupon) 1,400,000 1,400,280 0.38
Societe Generale 0.500% 13/01/2023 900,000 907,884 0.25
Societe Generale 0.750% 26/05/2023 600,000 613,716 0.17
Societe Generale 1.250% 15/02/2024 1,500,000 1,550,955 0.42
Societe Generale 1.375% 23/02/2028 1,000,000 1,019,970 0.28
UniCredit 2.000% 04/03/2023 850,000 893,231 0.24
UniCredit 1.250% 25/06/2025 1,400,000 1,429,820 0.39
UniCredit 4.375% 03/01/2027 500,000 530,200 0.14
Unione di Banche Italiane 1.000% 22/07/2022 300,000 303,393 0.08
Unione di Banche Italiane 0.750% 17/10/2022 750,000 752,617 0.20
Unione di Banche Italiane 1.500% 10/04/2024 700,000 715,064 0.19
Beverages (1.15%)
Anheuser-Busch InBev 0.875% 17/03/2022 2,200,000 2,249,170 0.61
Anheuser-Busch InBev 0.800% 20/04/2023 400,000 410,888 0.11
Heineken 1.250% 10/09/2021 500,000 510,380 0.14
Pernod Ricard 1.875% 28/09/2023 1,000,000 1,066,950 0.29
Building Materials (1.46%)
Buzzi Unicem 2.125% 28/04/2023 450,000 475,083 0.13
Compagnie de Saint-Gobain 0.875% 21/09/2023 600,000 616,416 0.17
Compagnie de Saint-Gobain 0.625% 15/03/2024 700,000 711,620 0.19
CRH Funding 1.875% 09/01/2024 500,000 531,625 0.15
HeidelbergCement 2.250% 30/03/2023 1,400,000 1,481,186 0.40
HeidelbergCement Finance Luxembourg 0.500% 18/01/2021 600,000 603,222 0.16
HeidelbergCement Finance Luxembourg 0.500% 09/08/2022 950,000 956,821 0.26
Chemicals (1.88%)
Air Liquide Finance 0.500% 13/06/2022 500,000 508,115 0.14
Air Liquide Finance 0.750% 13/06/2024 400,000 414,156 0.11
The accompanying notes form an integral part of these financial statements.
341
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Chemicals (1.88%) (continued)
Covestro 1.000% 07/10/2021 900,000 914,319 0.25
Covestro 1.750% 25/09/2024 200,000 213,362 0.06
Evonik Finance 08/03/2021 (zero coupon) 250,000 250,320 0.07
Evonik Finance 0.375% 07/09/2024 500,000 504,830 0.14
Evonik Industries 1.000% 23/01/2023 800,000 822,168 0.22
Evonik Industries 2.125% 07/07/2077 600,000 619,500 0.17
Koninklijke DSM 1.375% 26/09/2022 500,000 520,450 0.14
LANXESS 0.250% 07/10/2021 400,000 401,952 0.11
Linde Finance 0.250% 18/01/2022 1,000,000 1,009,000 0.27
Solvay 1.625% 02/12/2022 700,000 728,343 0.20
Commercial Services (1.19%)
Abertis Infraestructuras 1.500% 27/06/2024 700,000 724,423 0.20
ALD 0.875% 18/07/2022 400,000 407,960 0.11
ALD 1.250% 11/10/2022 700,000 722,155 0.20
APRR 1.500% 15/01/2024 1,000,000 1,056,100 0.29
Holdingd'Infrastructures de Transport 0.625% 27/03/2023 300,000 301,149 0.08
Prosegur Companhia de Seguridad 1.000% 08/02/2023 800,000 815,160 0.22
Wirecard 0.500% 11/09/2024 400,000 345,048 0.09
Computers (1.07%)
Atos 0.750% 07/05/2022 600,000 610,176 0.17
Capgemini 0.500% 09/11/2021 1,000,000 1,008,150 0.27
Capgemini 2.500% 01/07/2023 1,000,000 1,077,100 0.29
Dell Bank International 0.625% 17/10/2022 600,000 605,136 0.17
Teleperformance 1.500% 03/04/2024 600,000 624,504 0.17
Diversified Financial Services (4.53%)
Aareal Bank 0.375% 10/04/2024 500,000 502,100 0.14
Azimut Holding 1.625% 12/12/2024 500,000 499,160 0.14
Bevco Lux 1.750% 09/02/2023 700,000 728,329 0.20
Deutsche Boerse 2.750% 05/02/2041 400,000 411,040 0.11
FCA Bank 1.250% 21/01/2021 300,000 304,215 0.08
FCA Bank 1.000% 15/11/2021 1,100,000 1,119,525 0.30
FCA Bank 1.000% 21/02/2022 400,000 407,428 0.11
FCA Bank 1.250% 21/06/2022 600,000 615,420 0.17
FCA Bank 0.625% 24/11/2022 1,100,000 1,111,429 0.30
FCA Bank 0.500% 13/09/2024 500,000 498,175 0.14
LeasePlan 1.000% 24/05/2021 600,000 608,766 0.17
LeasePlan 1.000% 25/02/2022 100,000 101,866 0.03
LeasePlan 0.750% 03/10/2022 700,000 709,387 0.19
LeasePlan 1.000% 02/05/2023 800,000 815,984 0.22
LeasePlan 0.125% 13/09/2023 1,100,000 1,084,303 0.30
LeasePlan 1.375% 07/03/2024 300,000 310,650 0.08
PSA Banque France 0.500% 12/04/2022 200,000 201,876 0.06
PSA Banque France 0.625% 21/06/2024 600,000 604,758 0.16
Santander Consumer Finance 1.000% 26/05/2021 100,000 101,676 0.03
Santander Consumer Finance 0.500% 04/10/2021 1,100,000 1,111,044 0.30
Santander Consumer Finance 0.875% 24/01/2022 1,300,000 1,324,128 0.36
Santander Consumer Finance 0.875% 30/05/2023 500,000 511,115 0.14
Santander Consumer Finance 1.125% 09/10/2023 800,000 826,112 0.22
Santander Consumer Finance 1.000% 27/02/2024 1,100,000 1,129,348 0.31
Santander Consumer Finance 0.375% 27/06/2024 1,000,000 1,001,030 0.27
Electric (5.52%)
E.ON 0.375% 23/08/2021 700,000 704,543 0.19
E.ON 0.875% 22/05/2024 900,000 927,405 0.25
E.ON 28/08/2024 (zero coupon) 727,000 719,337 0.20
EDP Finance 2.375% 23/03/2023 700,000 750,015 0.20
EDP Finance 1.875% 29/09/2023 600,000 636,378 0.17
EDP Finance 1.125% 12/02/2024 1,000,000 1,034,290 0.28
Elia System Operator 1.375% 27/05/2024 400,000 420,768 0.11
Elia System Operator 2.750% Perpetual 700,000 737,506 0.20
Enel 2.500% 24/11/2078 1,100,000 1,144,330 0.31
Enel Finance International 17/06/2024 (zero coupon) 1,300,000 1,286,441 0.35
Enel Finance International 1.000% 16/09/2024 300,000 310,944 0.08
Engie 0.500% 13/03/2022 200,000 202,504 0.06
Engie 0.375% 28/02/2023 600,000 606,870 0.17
The accompanying notes form an integral part of these financial statements.
342
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Electric (5.52%) (continued)
Engie 0.875% 27/03/2024 600,000 621,186 0.17
Engie 1.375% Perpetual 1,000,000 1,010,420 0.27
Eurogrid 1.625% 03/11/2023 800,000 842,048 0.23
Iberdrola Finanzas 1.000% 07/03/2024 800,000 828,528 0.23
Iberdrola International 1.125% 27/01/2023 300,000 309,816 0.08
Iberdrola International 1.750% 17/09/2023 500,000 530,710 0.14
Iberdrola International 1.875% Perpetual 1,100,000 1,131,537 0.31
Iberdrola International 2.625% Perpetual 400,000 426,888 0.12
IE2 Holdco 2.375% 27/11/2023 500,000 534,210 0.15
innogy Finance 0.750% 30/11/2022 750,000 763,538 0.21
Iren 0.875% 04/11/2024 200,000 204,952 0.06
Ren Finance 1.750% 01/06/2023 500,000 527,665 0.14
Terna Rete Elettrica Nazionale 0.875% 02/02/2022 1,500,000 1,528,110 0.42
Terna Rete Elettrica Nazionale 1.000% 23/07/2023 900,000 927,657 0.25
Transmission Finance 1.500% 24/05/2023 600,000 625,302 0.17
Electrical Components & Equipment (0.50%)
Legrand 0.750% 06/07/2024 400,000 411,844 0.11
Schneider Electric 1.500% 08/09/2023 700,000 735,987 0.20
Schneider Electric 0.250% 09/09/2024 700,000 705,817 0.19
Engineering & Construction (0.11%)
Ferrovial Emisiones 0.375% 14/09/2022 400,000 403,324 0.11
Food (2.30%)
Auchan Holding 0.625% 07/02/2022 400,000 401,884 0.11
Auchan Holding 2.625% 30/01/2024 1,000,000 1,070,040 0.29
Carrefour 0.875% 12/06/2023 500,000 510,915 0.14
Carrefour 0.750% 26/04/2024 700,000 715,855 0.19
Danone 0.424% 03/11/2022 1,300,000 1,317,693 0.36
Danone 1.250% 30/05/2024 600,000 632,430 0.17
Danone 0.709% 03/11/2024 1,000,000 1,029,990 0.28
Danone 1.750% Perpetual 1,100,000 1,130,591 0.31
Esselunga 0.875% 25/10/2023 500,000 503,240 0.14
Koninklijke Ahold Delhaize 0.875% 19/09/2024 500,000 515,925 0.14
Metro 1.125% 06/03/2023 600,000 608,598 0.17
Gas (0.73%)
Galp Gas Natural Distribuicao 1.375% 19/09/2023 600,000 621,504 0.17
Naturgy Capital Markets 1.125% 11/04/2024 500,000 519,395 0.14
NorteGas Energia Distribucion 0.918% 28/09/2022 550,000 559,960 0.15
Snam 12/05/2024 (zero coupon) 1,000,000 990,230 0.27
Healthcare Products (0.39%)
EssilorLuxottica 27/05/2023 (zero coupon) 700,000 700,987 0.19
Koninklijke Philips 0.500% 06/09/2023 500,000 508,580 0.14
Koninklijke Philips 0.750% 02/05/2024 200,000 205,360 0.06
Healthcare Services (0.62%)
Fresenius Finance Ireland 0.875% 31/01/2022 700,000 710,136 0.19
Fresenius Finance Ireland 1.500% 30/01/2024 750,000 782,295 0.21
Fresenius Medical Care & Co 0.250% 29/11/2023 800,000 799,472 0.22
Household Products (0.08%)
Henkel & Co 13/09/2021 (zero coupon) 300,000 301,014 0.08
Insurance (1.65%)
Aegon 1.000% 08/12/2023 500,000 517,495 0.14
Aegon Bank 0.625% 21/06/2024 300,000 305,058 0.08
Allianz Finance II 0.250% 06/06/2023 600,000 606,042 0.17
BNP Paribas Cardif 1.000% 29/11/2024 700,000 709,716 0.19
CNP Assurances 1.875% 20/10/2022 1,000,000 1,045,160 0.28
Credit Logement 1.350% 28/11/2029 500,000 507,075 0.14
NN Group 0.875% 13/01/2023 400,000 409,412 0.11
NN GROUP 1.000% 18/03/2022 500,000 511,905 0.14
Sampo 1.000% 18/09/2023 700,000 723,205 0.20
VIVAT 2.375% 17/05/2024 700,000 734,237 0.20
The accompanying notes form an integral part of these financial statements.
343
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Investment Companies (1.30%)
Criteria Caixa 1.625% 21/04/2022 400,000 414,388 0.11
Criteria Caixa 1.500% 10/05/2023 900,000 932,616 0.25
Criteria Caixa 1.375% 10/04/2024 800,000 827,144 0.23
EXOR 2.125% 02/12/2022 700,000 735,455 0.20
JAB Holdings 1.500% 24/11/2021 600,000 616,008 0.17
JAB Holdings 1.750% 25/05/2023 400,000 421,040 0.11
JAB Holdings 1.250% 22/05/2024 800,000 830,984 0.23
Iron & Steel (0.70%)
ArcelorMittal 3.125% 14/01/2022 600,000 632,940 0.17
ArcelorMittal 0.950% 17/01/2023 1,000,000 1,007,150 0.27
ArcelorMittal 1.000% 19/05/2023 200,000 201,538 0.06
ArcelorMittal 2.250% 17/01/2024 700,000 731,738 0.20
Lodging (0.26%)
Accor 2.375% 17/09/2023 100,000 108,048 0.03
Accor 1.250% 25/01/2024 800,000 832,912 0.23
Media (1.18%)
Bertelsmann & Co 0.250% 26/05/2021 400,000 402,016 0.11
Bertelsmann & Co 3.000% 23/04/2075 600,000 636,126 0.17
TDF Infrastructure 2.875% 19/10/2022 600,000 635,844 0.17
Vivendi 0.750% 26/05/2021 900,000 909,774 0.25
Vivendi 1.125% 24/11/2023 1,200,000 1,244,808 0.34
Vivendi 0.875% 18/09/2024 500,000 512,835 0.14
Metal Fabricate & Hardware (0.15%)
Wuerth Finance International 1.000% 19/05/2022 550,000 562,667 0.15
Miscellaneous Manufacturers (0.85%)
Knorr-Bremse 0.500% 08/12/2021 600,000 605,232 0.16
Siemens Financieringsmaatschappij 0.375% 06/09/2023 750,000 762,285 0.21
Siemens Financieringsmaatschappij 0.300% 28/02/2024 1,050,000 1,064,553 0.29
Siemens Financieringsmaatschappij 05/09/2024 (zero coupon) 700,000 698,978 0.19
Oil & Gas (3.60%)
Eni 0.750% 17/05/2022 800,000 815,328 0.22
Eni 1.750% 18/01/2024 850,000 907,299 0.25
Eni 0.625% 19/09/2024 300,000 306,111 0.08
OMV 0.750% 04/12/2023 500,000 513,495 0.14
OMV 5.250% Perpetual 600,000 655,656 0.18
OMV 2.875% Perpetual 600,000 645,228 0.17
Repsol International Finance 0.500% 23/05/2022 500,000 506,390 0.14
Shell International Finance 1.250% 15/03/2022 1,050,000 1,083,778 0.29
Shell International Finance 0.750% 12/05/2024 700,000 724,381 0.20
Total 2.708% Perpetual 1,000,000 1,067,450 0.29
Total 3.875% Perpetual 1,450,000 1,569,291 0.43
Total 2.250% Perpetual 650,000 664,632 0.18
Total 1.750% Perpetual 1,700,000 1,762,135 0.48
Total Capital International 0.250% 12/07/2023 1,100,000 1,111,473 0.30
Total Capital International 0.625% 04/10/2024 200,000 206,216 0.06
Wintershall Dea Finance 0.452% 25/09/2023 700,000 701,540 0.19
Pharmaceuticals & Biotechnology (2.14%)
Bayer 2.375% 02/04/2075 909,000 931,516 0.25
Bayer 2.375% 02/04/2075 186,000 190,607 0.05
Bayer Capital 0.625% 15/12/2022 1,100,000 1,117,171 0.30
Bayer Capital 1.250% 13/11/2023 300,000 312,789 0.08
Merck 2.625% 12/12/2074 500,000 516,760 0.14
Merck Financial Services 1.375% 01/09/2022 800,000 827,968 0.23
Merck Financial Services 0.005% 15/12/2023 500,000 497,995 0.14
Sanofi 21/03/2022 (zero coupon) 900,000 905,274 0.25
Sanofi 13/09/2022 (zero coupon) 400,000 401,880 0.11
Sanofi 0.500% 21/03/2023 1,900,000 1,936,366 0.53
Sanofi 0.625% 05/04/2024 200,000 205,720 0.06
The accompanying notes form an integral part of these financial statements.
344
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Private Equity (0.40%)
Blackstone Property Partners Europe Holdings 1.400% 06/07/2022 600,000 614,718 0.17
Blackstone Property Partners Europe Holdings 2.000% 15/02/2024 800,000 840,096 0.23
Real Estate (2.91%)
Aroundtown 1.500% 15/07/2024 500,000 521,880 0.14
ATF Netherlands 3.750% 29/12/2049 700,000 748,447 0.21
Grand City Properties 3.750% Perpetual 600,000 636,864 0.17
IMMOFINANZ 2.625% 27/01/2023 500,000 527,655 0.14
Kojamo 1.500% 19/06/2024 500,000 519,700 0.14
LEG Immobilien 1.250% 23/01/2024 500,000 514,875 0.14
Logicor Financing 0.500% 30/04/2021 700,000 704,851 0.19
Logicor Financing 1.500% 14/11/2022 1,000,000 1,031,810 0.28
Logicor Financing 0.750% 15/07/2024 800,000 803,312 0.22
Vonovia Finance 0.750% 25/01/2022 500,000 507,675 0.14
Vonovia Finance 0.875% 10/06/2022 800,000 816,016 0.22
Vonovia Finance 0.875% 03/07/2023 500,000 510,605 0.14
Vonovia Finance 2.250% 15/12/2023 700,000 752,787 0.21
Vonovia Finance 0.750% 15/01/2024 1,000,000 1,016,620 0.28
Vonovia Finance 4.000% Perpetual 1,000,000 1,070,210 0.29
Real Estate Investment Trusts (2.24%)
Altarea 2.250% 05/07/2024 500,000 525,670 0.14
Carmila 2.375% 18/09/2023 1,000,000 1,069,070 0.29
Inmobiliaria Colonial Socimi 2.728% 05/06/2023 500,000 543,540 0.15
Inmobiliaria Colonial Socimi 1.450% 28/10/2024 200,000 208,976 0.06
Klepierre 1.000% 17/04/2023 800,000 823,112 0.22
Mercialys 1.787% 31/03/2023 700,000 721,651 0.20
Merlin Properties Socimi 2.375% 23/05/2022 800,000 839,584 0.23
Merlin Properties Socimi 2.225% 25/04/2023 1,000,000 1,058,300 0.29
SELP Finance 1.250% 25/10/2023 300,000 308,586 0.08
Unibail-Rodamco-Westfield 0.125% 14/05/2021 900,000 903,015 0.25
Unibail-Rodamco-Westfield 2.125% Perpetual 1,200,000 1,230,864 0.33
Semiconductors (0.22%)
ASML Holding 0.625% 07/07/2022 500,000 508,345 0.14
Infineon Technologies 1.500% 10/03/2022 300,000 309,897 0.08
Software (1.38%)
Amadeus Capital Markets 1.625% 17/11/2021 1,100,000 1,130,382 0.31
Amadeus IT Group 0.875% 18/09/2023 100,000 102,640 0.03
Dassault Systemes 16/09/2024 (zero coupon) 1,100,000 1,093,631 0.30
SAP 0.250% 10/03/2022 900,000 907,560 0.25
SAP 0.750% 10/12/2024 1,000,000 1,032,880 0.28
Worldline 0.250% 18/09/2024 800,000 794,576 0.21
Telecommunications (3.21%)
Deutsche Telekom International Finance 0.250% 19/04/2021 500,000 502,460 0.14
Deutsche Telekom International Finance 0.375% 30/10/2021 250,000 252,105 0.07
Deutsche Telekom International Finance 0.625% 01/12/2022 600,000 610,248 0.16
Deutsche Telekom International Finance 0.625% 03/04/2023 1,500,000 1,527,045 0.41
Deutsche Telekom International Finance 0.875% 30/01/2024 1,200,000 1,236,276 0.34
Deutsche Telekom International Finance 0.625% 13/12/2024 1,000,000 1,023,140 0.28
Eutelsat 1.125% 23/06/2021 500,000 507,105 0.14
Orange 0.500% 15/01/2022 1,000,000 1,011,140 0.27
Orange 0.750% 11/09/2023 800,000 818,312 0.22
Orange 1.125% 15/07/2024 700,000 728,959 0.20
Telefonica Emisiones 1.477% 14/09/2021 1,100,000 1,128,908 0.31
Telefonica Emisiones 0.750% 13/04/2022 1,300,000 1,321,853 0.36
Telefonica Emisiones 1.069% 05/02/2024 1,100,000 1,139,204 0.31
Transportation (0.21%)
Deutsche Post 0.375% 01/04/2021 750,000 753,960 0.21
Water (0.96%)
FCC Aqualia 1.413% 08/06/2022 700,000 716,576 0.20
Suez 2.500% Perpetual 200,000 207,682 0.06
Suez 2.875% Perpetual 700,000 744,562 0.20
Veolia Environnement 0.672% 30/03/2022 700,000 709,520 0.19
The accompanying notes form an integral part of these financial statements.
345
UBS ETF – Bloomberg Barclays Euro Area Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in EUR)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value EUR Net Assets
Water (0.96%) (continued)
Veolia Environnement 0.314% 04/10/2023 100,000 100,809 0.03
Veolia Environnement 0.892% 14/01/2024 1,000,000 1,028,930 0.28
Total Corporate Bonds 363,987,039 99.09
TOTAL INVESTMENTS (Cost EUR 359,903,317) 363,987,039 99.09
Other net assets 3,360,499 0.91
TOTAL NET ASSETS 367,347,538 100.00
Forward Foreign Exchange Contracts
Unrealised appreciation/ % of Net
Purchases Sales Maturity Date (depreciation) EUR Assets
CHF 18,556,139 EUR 16,848,264 03 January 2020 223,135 0.06
CHF 2,123,319 EUR 1,932,255 03 January 2020 21,169 0.01
USD 1,169,509 EUR 1,057,980 03 January 2020 (16,100) (0.01)
Total Forward Foreign Exchange Contracts 228,204 0.06
The accompanying notes form an integral part of these financial statements.
346
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value USD Net Assets
Corporate Bonds
Aerospace & Defense (1.62%)
United Technologies 3.350% 16/08/2021 5,376,000 5,505,239 0.54
United Technologies 3.650% 16/08/2023 10,434,000 11,003,488 1.08
Agriculture (0.90%)
Altria Group 3.490% 14/02/2022 4,200,000 4,323,606 0.42
Altria Group 3.800% 14/02/2024 4,600,000 4,841,960 0.48
Auto Manufacturers (2.71%)
General Motors Financial 4.200% 06/11/2021 3,500,000 3,625,405 0.36
General Motors Financial 3.450% 14/01/2022 2,150,000 2,197,407 0.22
General Motors Financial 3.150% 30/06/2022 2,500,000 2,547,625 0.25
General Motors Financial 3.550% 08/07/2022 5,000,000 5,148,450 0.51
General Motors Financial 4.150% 19/06/2023 6,592,000 6,929,181 0.68
General Motors Financial 5.100% 17/01/2024 6,500,000 7,055,945 0.69
Banks (10.56%)
Bank of New York Mellon 1.950% 23/08/2022 4,000,000 4,013,320 0.39
Bank of New York Mellon 2.950% 29/01/2023 5,000,000 5,146,900 0.51
Capital One Financial 3.200% 30/01/2023 5,196,000 5,344,917 0.52
Goldman Sachs Group 3.200% 23/02/2023 9,000,000 9,257,580 0.91
Goldman Sachs Group 3.625% 20/02/2024 6,100,000 6,400,730 0.63
Morgan Stanley 3.125% 23/01/2023 9,500,000 9,764,955 0.96
PNC Financial Services Group 3.500% 23/01/2024 5,000,000 5,274,200 0.52
Regions Financial 3.800% 14/08/2023 4,300,000 4,553,012 0.45
Santander Holdings USA 3.500% 07/06/2024 5,000,000 5,146,250 0.51
Truist Bank 3.200% 01/04/2024 5,500,000 5,722,310 0.56
Truist Financial 2.150% 01/02/2021 1,000,000 1,002,870 0.10
Truist Financial 3.050% 20/06/2022 6,200,000 6,356,860 0.62
Truist Financial 3.750% 06/12/2023 6,200,000 6,572,062 0.65
Truist Financial 2.500% 01/08/2024 5,100,000 5,165,994 0.51
US Bancorp 3.375% 05/02/2024 6,000,000 6,301,980 0.62
US Bancorp 2.400% 30/07/2024 5,500,000 5,575,075 0.55
Wells Fargo & Co 3.750% 24/01/2024 14,900,000 15,758,687 1.55
Beverages (1.15%)
Coca-Cola 1.750% 06/09/2024 4,500,000 4,481,640 0.44
Keurig Dr Pepper 3.551% 25/05/2021 7,000,000 7,151,550 0.71
Chemicals (1.26%)
DuPont de Nemours 4.205% 15/11/2023 11,972,000 12,804,413 1.26
Commercial Services (1.00%)
PayPal Holdings 2.200% 26/09/2022 4,000,000 4,027,160 0.40
PayPal Holdings 2.400% 01/10/2024 6,100,000 6,159,353 0.60
Computers (0.49%)
Hewlett Packard Enterprise 2.250% 01/04/2023 5,000,000 5,002,650 0.49
Diversified Financial Services (4.95%)
American Express 3.700% 05/11/2021 4,500,000 4,637,835 0.46
American Express 2.750% 20/05/2022 7,550,000 7,686,353 0.76
American Express 2.500% 01/08/2022 3,500,000 3,541,090 0.35
American Express 3.400% 27/02/2023 6,422,000 6,664,430 0.65
American Express 3.700% 03/08/2023 4,300,000 4,541,101 0.45
American Express 3.400% 22/02/2024 6,000,000 6,281,400 0.62
American Express 2.500% 30/07/2024 10,000,000 10,118,500 0.99
Capital One Financial 3.900% 29/01/2024 4,700,000 4,989,473 0.49
Capital One Financial 3.900% 29/01/2024 1,779,000 1,888,569 0.18
Electric (0.90%)
NextEra Energy Capital Holdings 2.900% 01/04/2022 9,000,000 9,186,210 0.90
Food (1.60%)
Campbell Soup 3.650% 15/03/2023 5,000,000 5,208,400 0.51
Conagra Brands 3.800% 22/10/2021 5,812,000 5,994,787 0.59
Conagra Brands 3.800% 22/10/2021 684,000 705,512 0.07
Conagra Brands 4.300% 01/05/2024 4,000,000 4,304,560 0.43
The accompanying notes form an integral part of these financial statements.
347
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value USD Net Assets
Insurance (0.44%)
Marsh & McLennan Companies 3.875% 15/03/2024 4,200,000 4,481,946 0.44
Lodging (0.81%)
Las Vegas Sands 3.200% 08/08/2024 8,000,000 8,250,160 0.81
Oil & Gas (5.67%)
BP Capital Markets America 4.742% 11/03/2021 8,000,000 8,275,440 0.82
BP Capital Markets America 2.750% 10/05/2023 6,491,000 6,639,838 0.65
BP Capital Markets America 3.790% 06/02/2024 6,742,000 7,172,814 0.71
Exxon Mobil 2.019% 16/08/2024 4,600,000 4,615,548 0.45
Occidental Petroleum 2.600% 13/08/2021 7,487,000 7,541,281 0.74
Occidental Petroleum 2.700% 15/08/2022 8,584,000 8,677,737 0.85
Occidental Petroleum 2.900% 15/08/2024 14,500,000 14,729,535 1.45
Oil & Gas Services (0.17%)
Baker Hughes a GELLC Via Baker Hughes Co-Obligor 2.773% 15/12/2022 1,689,000 1,723,169 0.17
Pharmaceuticals & Biotechnology (7.38%)
AbbVie 3.375% 14/11/2021 3,500,000 3,589,390 0.35
AbbVie 3.375% 14/11/2021 1,700,000 1,743,418 0.17
AbbVie 3.750% 14/11/2023 6,527,000 6,872,474 0.68
Cigna 3.400% 17/09/2021 4,800,000 4,912,944 0.48
Cigna 3.750% 15/07/2023 15,100,000 15,851,376 1.56
CVS Health 3.700% 09/03/2023 27,850,000 28,996,863 2.85
CVS Health 2.625% 15/08/2024 4,464,000 4,511,363 0.45
Pfizer 2.200% 15/12/2021 2,700,000 2,724,003 0.27
Pfizer 3.200% 15/09/2023 5,550,000 5,791,536 0.57
Pipelines (0.52%)
EQM Midstream Partners 4.750% 15/07/2023 5,239,000 5,254,979 0.52
Real Estate Investment Trusts (0.44%)
Simon Property Group 2.000% 13/09/2024 4,500,000 4,484,880 0.44
Retail (2.07%)
Walmart 2.350% 15/12/2022 8,200,000 8,343,418 0.82
Walmart 3.400% 26/06/2023 5,000,000 5,253,550 0.52
Walmart 2.850% 08/07/2024 7,193,000 7,454,825 0.73
Software (0.46%)
salesforce.com 3.250% 11/04/2023 4,500,000 4,677,210 0.46
Total Corporate Bonds 458,480,691 45.10
Transferable securities and money market instruments dealt in another regulated
market
Corporate Bonds
Aerospace & Defense (0.93%)
General Dynamics 3.000% 11/05/2021 9,295,000 9,443,720 0.93
Auto Manufacturers (0.74%)
General Motors Financial 3.550% 09/04/2021 3,312,000 3,367,145 0.33
Toyota Motor Credit 2.950% 13/04/2021 4,100,000 4,160,475 0.41
Banks (23.15%)
Bank of America 2.738% 23/01/2022 5,250,000 5,288,535 0.52
Bank of America 3.499% 17/05/2022 10,096,000 10,297,112 1.01
Bank of America 3.004% 20/12/2023 14,500,000 14,837,705 1.46
Bank of America 3.550% 05/03/2024 15,500,000 16,088,845 1.58
Bank of America 3.864% 23/07/2024 14,500,000 15,260,670 1.50
Bank of America 3.458% 15/03/2025 10,020,000 10,463,786 1.03
Bank of America 2.456% 22/10/2025 10,000,000 10,062,000 0.99
Capital One Financial 3.450% 30/04/2021 5,696,000 5,798,243 0.57
Citigroup 2.312% 04/11/2022 2,000,000 2,006,120 0.20
Citigroup 3.142% 24/01/2023 9,000,000 9,180,450 0.90
Citigroup 2.876% 24/07/2023 2,500,000 2,541,700 0.25
Citigroup 4.044% 01/06/2024 6,500,000 6,873,295 0.68
The accompanying notes form an integral part of these financial statements.
348
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities and money market instruments dealt in another regulated market
Market % of
Nominal Value USD Net Assets
Banks (23.15%) (continued)
Citigroup 3.352% 24/04/2025 12,500,000 13,009,000 1.28
Citigroup 3.352% 24/04/2025 779,000 810,721 0.08
Fifth Third Bancorp 3.650% 25/01/2024 7,000,000 7,384,930 0.73
JPMorgan Chase & Co 3.514% 18/06/2022 6,500,000 6,639,360 0.65
JPMorgan Chase & Co 3.207% 01/04/2023 11,000,000 11,271,040 1.11
JPMorgan Chase & Co 3.559% 23/04/2024 6,873,000 7,163,109 0.70
JPMorgan Chase & Co 3.797% 23/07/2024 11,700,000 12,333,321 1.21
JPMorgan Chase & Co 4.023% 05/12/2024 11,500,000 12,265,555 1.21
JPMorgan Chase & Co 2.301% 15/10/2025 10,000,000 9,988,600 0.98
Morgan Stanley 3.737% 24/04/2024 12,529,000 13,090,675 1.29
Morgan Stanley 2.720% 22/07/2025 11,000,000 11,155,210 1.10
State Street 2.354% 01/11/2025 2,000,000 2,004,300 0.20
Truist Bank 2.800% 17/05/2022 6,838,000 6,969,427 0.69
Wells Fargo & Co 2.406% 30/10/2025 12,500,000 12,506,375 1.23
Beverages (1.02%)
Keurig Dr Pepper 4.057% 25/05/2023 9,800,000 10,352,524 1.02
Computers (1.02%)
Apple 1.700% 11/09/2022 3,000,000 2,999,580 0.30
Apple 2.100% 12/09/2022 2,500,000 2,524,925 0.25
Dell International via EMC 4.000% 15/07/2024 4,575,000 4,794,692 0.47
Diversified Financial Services (0.30%)
American Express 3.375% 17/05/2021 3,000,000 3,057,060 0.30
Electric (0.22%)
NextEra Energy Capital Holdings 2.403% 01/09/2021 2,250,000 2,266,695 0.22
Internet (1.40%)
Amazon.com 2.400% 22/02/2023 5,481,000 5,559,762 0.55
Amazon.com 2.800% 22/08/2024 8,400,000 8,696,352 0.85
Media (3.91%)
Charter Communications Operating via Charter Communications Operating Capital
4.500% 01/02/2024 4,550,000 4,894,981 0.48
Comcast 3.450% 01/10/2021 8,083,000 8,318,700 0.82
Comcast 3.700% 15/04/2024 12,500,000 13,332,000 1.31
Fox 4.030% 25/01/2024 5,450,000 5,806,158 0.57
Walt Disney 1.750% 30/08/2024 7,500,000 7,429,950 0.73
Oil & Gas (0.20%)
Diamondback Energy 2.875% 01/12/2024 2,000,000 2,023,320 0.20
Pharmaceuticals & Biotechnology (7.59%)
AbbVie 2.150% 19/11/2021 8,600,000 8,623,048 0.85
AbbVie 2.300% 21/11/2022 14,000,000 14,067,760 1.38
AbbVie 2.600% 21/11/2024 17,000,000 17,148,750 1.69
Bristol-Myers Squibb 2.550% 14/05/2021 4,500,000 4,544,460 0.45
Bristol-Myers Squibb 2.600% 16/05/2022 6,500,000 6,607,835 0.65
Bristol-Myers Squibb 2.900% 26/07/2024 16,000,000 16,513,760 1.62
CVS Health 3.350% 09/03/2021 9,500,000 9,651,240 0.95
Pipelines (0.65%)
Energy Transfer Operating 5.875% 15/01/2024 6,000,000 6,640,080 0.65
Real Estate Investment Trusts (0.49%)
Equinix 2.625% 18/11/2024 5,000,000 5,020,650 0.49
Retail (2.24%)
Dollar Tree 3.700% 15/05/2023 5,500,000 5,732,045 0.57
McDonald's 3.350% 01/04/2023 4,500,000 4,682,700 0.46
Starbucks 3.100% 01/03/2023 4,000,000 4,129,160 0.41
Walmart 3.125% 23/06/2021 8,000,000 8,171,040 0.80
Semiconductors (6.19%)
Broadcom 3.125% 15/04/2021 6,500,000 6,578,715 0.65
Broadcom 3.125% 15/10/2022 7,950,000 8,108,920 0.80
Broadcom 3.625% 15/10/2024 9,000,000 9,348,210 0.92
The accompanying notes form an integral part of these financial statements.
349
UBS ETF – Bloomberg Barclays US Liquid Corporates 1-5 Year UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities and money market instruments dealt in another regulated market
Market % of
Nominal Value USD Net Assets
Semiconductors (6.19%) (continued)
Broadcom Via Broadcom Cayman Finance 3.000% 15/01/2022 18,300,000 18,573,219 1.83
Broadcom Via Broadcom Cayman Finance 3.625% 15/01/2024 11,426,000 11,833,680 1.16
Microchip Technology 4.333% 01/06/2023 8,000,000 8,449,440 0.83
Software (1.42%)
Fiserv 3.800% 01/10/2023 5,000,000 5,281,800 0.52
Fiserv 2.750% 01/07/2024 9,000,000 9,171,720 0.90
Total Corporate Bonds 523,196,355 51.47
TOTAL INVESTMENTS (Cost USD 960,450,600) 981,677,046 96.57
Other net assets 34,900,929 3.43
TOTAL NET ASSETS 1,016,577,975 100.00
Forward Foreign Exchange Contracts
Unrealised appreciation/ % of Net
Purchases Sales Maturity Date (depreciation) USD Assets
CHF 141,867,777 USD 142,387,348 03 January 2020 4,117,301 0.40
CHF 1,923,907 USD 1,973,285 03 January 2020 13,504 0.00
EUR 275,576,350 USD 304,627,058 03 January 2020 4,707,255 0.46
EUR 4,828,565 USD 5,373,917 03 January 2020 46,144 0.00
GBP 164,740,348 USD 213,402,175 03 January 2020 4,837,718 0.48
USD 2,015,560 CHF 1,977,559 03 January 2020 (26,634) (0.00)
USD 3,566,563 EUR 3,197,708 03 January 2020 (22,862) (0.00)
USD 3,737,230 EUR 3,350,556 03 January 2020 (23,767) (0.00)
USD 2,439,518 EUR 2,191,952 03 January 2020 (20,947) (0.00)
USD 1,997,516 EUR 1,788,485 03 January 2020 (10,058) (0.00)
USD 3,250,158 GBP 2,433,538 03 January 2020 26,327 0.00
Total Forward Foreign Exchange Contracts 13,643,981 1.34
The accompanying notes form an integral part of these financial statements.
350
UBS ETF – Bloomberg Barclays US Liquid Corporates Interest Rate hedged UCITS Annual report as of 31 December 2019
ETF
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Funds
Debt Funds (94.82%)
UBS ETF - Bloomberg Barclays US Liquid Corporates UCITS ETF 643,769 11,451,492 94.82
Total Funds 11,451,492 94.82
TOTAL INVESTMENTS (Cost USD 10,425,831) 11,451,492 94.82
Other net assets 625,052 5.18
TOTAL NET ASSETS 12,076,544 100.00
Future Contracts
Unrealised
appreciation/ % of Net
Underlying Counterparty Gross exposure Quantity (depreciation) USD Assets
US 10-Year Note Futures
20/03/2020 UBS AG (2,825,281) (22) 23,742 0.20
US 2-Year Note Futures 31/03/2020 UBS AG (1,293,000) (6) 469 0.00
US 5-Year Note Futures 31/03/2020 UBS AG (2,134,969) (18) 6,469 0.05
US Long Bond Futures 20/03/2020 UBS AG (2,338,594) (15) 49,516 0.41
US Ultra Bond Futures 20/03/2020 UBS AG (2,179,875) (12) 70,781 0.59
Total Future Contracts (10,771,719) (73) 150,977 1.25
The accompanying notes form an integral part of these financial statements.
351
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value USD Net Assets
Corporate Bonds
Aerospace & Defense (2.12%)
Boeing 2.700% 01/02/2027 750,000 759,188 0.09
Boeing 3.200% 01/03/2029 1,200,000 1,254,192 0.15
Boeing 3.750% 01/02/2050 1,500,000 1,594,950 0.19
Boeing 3.950% 01/08/2059 1,150,000 1,231,673 0.15
General Dynamics 3.750% 15/05/2028 800,000 881,072 0.11
United Technologies 3.350% 16/08/2021 1,500,000 1,536,060 0.18
United Technologies 3.650% 16/08/2023 1,900,000 2,003,702 0.24
United Technologies 3.650% 16/08/2023 600,000 632,748 0.08
United Technologies 3.950% 16/08/2025 1,500,000 1,636,785 0.20
United Technologies 4.125% 16/11/2028 2,450,000 2,758,112 0.33
United Technologies 4.125% 16/11/2028 1,000,000 1,125,760 0.14
United Technologies 4.625% 16/11/2048 1,700,000 2,127,091 0.26
Agriculture (1.61%)
Altria Group 3.490% 14/02/2022 1,000,000 1,029,430 0.12
Altria Group 3.800% 14/02/2024 655,000 689,453 0.08
Altria Group 4.400% 14/02/2026 1,400,000 1,520,176 0.18
Altria Group 4.400% 14/02/2026 1,581,000 1,716,713 0.21
Altria Group 4.800% 14/02/2029 2,500,000 2,783,250 0.34
Altria Group 5.800% 14/02/2039 2,100,000 2,467,164 0.30
Altria Group 5.950% 14/02/2049 2,100,000 2,543,793 0.31
Altria Group 5.950% 14/02/2049 500,000 605,665 0.07
Auto Manufacturers (0.60%)
General Motors Financial 4.150% 19/06/2023 1,000,000 1,051,150 0.13
General Motors Financial 5.100% 17/01/2024 1,500,000 1,628,295 0.19
General Motors Financial 3.950% 13/04/2024 1,100,000 1,149,159 0.14
General Motors Financial 4.350% 09/04/2025 700,000 747,873 0.09
General Motors Financial 4.350% 17/01/2027 400,000 419,096 0.05
Banks (5.35%)
Bank of New York Mellon 2.950% 29/01/2023 900,000 926,442 0.11
Capital One Financial 3.200% 30/01/2023 3,100,000 3,188,846 0.39
Capital One Financial 3.800% 31/01/2028 1,600,000 1,718,560 0.21
Citigroup 2.750% 25/04/2022 1,100,000 1,117,391 0.14
Citigroup 4.650% 23/07/2048 2,350,000 2,938,440 0.35
Citigroup 4.650% 23/07/2048 350,000 437,640 0.05
Goldman Sachs Group 3.200% 23/02/2023 1,300,000 1,337,206 0.16
Goldman Sachs Group 3.625% 20/02/2024 1,368,000 1,435,442 0.17
Goldman Sachs Group 3.625% 20/02/2024 800,000 839,440 0.10
JPMorgan Chase & Co 3.509% 23/01/2029 500,000 530,710 0.06
JPMorgan Chase & Co 3.897% 23/01/2049 1,461,000 1,641,653 0.20
Morgan Stanley 3.125% 23/01/2023 3,000,000 3,083,670 0.37
PNC Financial Services Group 3.500% 23/01/2024 2,000,000 2,109,680 0.25
PNC Financial Services Group 3.450% 23/04/2029 2,000,000 2,137,680 0.26
Regions Financial 3.800% 14/08/2023 1,000,000 1,058,840 0.13
Santander Holdings 4.400% 13/07/2027 1,000,000 1,081,050 0.13
Santander Holdings USA 3.500% 07/06/2024 1,200,000 1,235,100 0.15
Truist Bank 2.450% 01/08/2022 1,300,000 1,316,172 0.16
Truist Bank 3.200% 01/04/2024 1,300,000 1,352,546 0.16
Truist Financial 3.050% 20/06/2022 2,000,000 2,050,600 0.25
Truist Financial 2.200% 16/03/2023 400,000 402,460 0.05
Truist Financial 3.750% 06/12/2023 1,000,000 1,060,010 0.13
Truist Financial 2.500% 01/08/2024 1,500,000 1,519,410 0.18
Truist Financial 3.700% 05/06/2025 1,200,000 1,292,196 0.16
US Bancorp 2.625% 24/01/2022 200,000 203,380 0.02
US Bancorp 3.375% 05/02/2024 1,000,000 1,050,330 0.13
US Bancorp 2.400% 30/07/2024 1,100,000 1,115,015 0.13
US Bancorp 3.000% 30/07/2029 1,100,000 1,129,029 0.14
Wells Fargo & Co 3.750% 24/01/2024 1,800,000 1,903,734 0.23
Wells Fargo & Co 4.150% 24/01/2029 1,900,000 2,122,528 0.26
Wells Fargo & Co 4.150% 24/01/2029 905,000 1,010,994 0.12
The accompanying notes form an integral part of these financial statements.
352
UBS ETF – Bloomberg Barclays US Liquid Corporates UCITS ETF Annual report as of 31 December 2019
Schedule of Investments as at 31 December 2019 (Expressed in USD)
Transferable securities listed on an Official Stock Exchange
Market % of
Nominal Value USD Net Assets
Beverages (0.75%)
Coca-Cola 1.750% 06/09/2024 1,000,000 995,920 0.12
Coca-Cola 2.125% 06/09/2029 1,200,000 1,170,576 0.14
Keurig Dr Pepper 3.551% 25/05/2021 2,090,000 2,135,249 0.26
Keurig Dr Pepper 4.597% 25/05/2028 1,700,000 1,914,744 0.23
Chemicals (1.58%)
DuPont de Nemours 4.205% 15/11/2023 2,375,000 2,540,134 0.31
DuPont de Nemours 4.493% 15/11/2025 1,000,000 1,101,470 0.13
DuPont de Nemours 4.493% 15/11/2025 500,000 550,735 0.07
DuPont de Nemours 4.725% 15/11/2028 2,700,000 3,065,094 0.37
DuPont de Nemours 5.319% 15/11/2038 1,900,000 2,264,952 0.27
DuPont de Nemours 5.419% 15/11/2048 1,350,000 1,663,321 0.20
DuPont de Nemours 5.419% 15/11/2048 700,000 862,463 0.10
LYB International Finance III 4.200% 15/10/2049 1,000,000 1,043,380 0.13
Commercial Services (0.93%)
Global Payments 3.200% 15/08/2029 2,100,000 2,141,286 0.26
PayPal Holdings 2.400% 01/10/2024 2,500,000 2,524,325 0.31
PayPal Holdings 2.650% 01/10/2026 1,400,000 1,418,886 0.17
PayPal Holdings 2.850% 01/10/2029 1,600,000 1,612,800 0.19
Computers (0.24%)
Hewlett Packard Enterprise 2.250% 01/04/2023 2,000,000 2,001,060 0.24
Diversified Financial Services (2.21%)
American Express 2.750% 20/05/2022 5,000,000 5,090,300 0.61
American Express 3.400% 27/02/2023 1,000,000 1,037,750 0.12
American Express 3.700% 03/08/2023 1,000,000 1,056,070 0.13
American Express 3.400% 22/02/2024 2,620,000 2,742,878 0.33
American Express 3.000% 30/10/2024 1,400,000 1,447,726 0.17
BlackRock 3.250% 30/04/2029 1,000,000 1,073,340 0.13
Capital One Financial 3.900% 29/01/2024 600,000 636,954 0.08
Intercontinental Exchange 4.250% 21/09/2048 1,300,000 1,540,448 0.19
Jefferies Group Via Jefferies Group Capital Finance 4.150%