Comparison window: 16 Sept 2016 → 8 Sept 2026 (max: from the most recent launch) · currency: 🇪🇺 EUR · inflation: 🇮🇹 Italy · distributions: reinvested where declared
Report produced on 10 September 2026 · data as of the dates shown per section Sources: official issuer documents (KID, factsheet, declared NAV series and holdings), ESMA register, ECB rates, Eurostat Public methodology: rebalix.com/en/methodology
Informational document generated by rebalix.com — facts side by side, no recommendations. It does not constitute investment advice or investment research under Directive 2014/65/EU (MiFID II). Past performance is not indicative of future results.
RebalixIE00BD4TXS21 vs LU0136234654 · report of 10 September 2026
The funds at a glance
From official issuer documents and the ESMA register
IE00BD4TXS21IE00BD4TXS21UBS Core MSCI USA UCITS ETF USD accEquity · United States
Declared index
MSCI USA Total Return Net
TER
0.03%
Transaction (KID)
0.00%
Fund size
2.7 mld EUR
Launch
16 Sept 2016
Currency
USD
Replication
Physical (full replication)
Hedging
No
Holdings
520
Distributions 12m
acc.
Effective 🇮🇹 rate
26.00%
LU0136234654LU0136234654UBS MSCI USA UCITS ETF USD disEquity · United States
Declared index
MSCI USA Total Return Net
TER
0.14%
Transaction (KID)
0.00%
Fund size
471 mln EUR
Launch
29 Oct 2001
Currency
USD
Replication
Physical (full replication)
Hedging
No
Holdings
520
Distributions 12m
4.3861 USD
Effective 🇮🇹 rate
26.00%
Tracking difference — year by year
Fund minus index, from issuer-declared series (complete calendar years). Each measures adherence to its OWN index.
IE00BD4TXS213y avg: +0.18%/anno
2025
+0.18%
2024
+0.17%
2023
+0.18%
2022
+0.09%
2021
+0.09%
2020
+0.16%
LU01362346543y avg: −0.15%/anno
2025
−0.15%
2024
−0.19%
2023
−0.12%
2022
−0.01%
2021
−0.15%
2020
−0.12%
Rebalix · IE00BD4TXS21 vs LU0136234654section 1 of 4
RebalixIE00BD4TXS21 vs LU0136234654 · report of 10 September 2026
IE00BD4TXS21 — UBS Core MSCI USA UCITS ETF USD acc · IE00BD4TXS21 · Equity · United States
LU0136234654 — UBS MSCI USA UCITS ETF USD dis · LU0136234654 · Equity · United States
Performance over the period, in euro
From 16 Sept 2016 to 8 Sept 2026 · base 100 · ECB rates, dividends reinvested where declared
In euro (nominal)
In today’s purchasing power (net of Italy inflation)
Same scale in both panels: the gap between endpoints is Italian inflation over the period (Eurostat). Volatility stays nominal, as everywhere on the site.
How far they fell — drawdown from peak (nominal)
In euro · distance from the previous peak, day by day, on NAV: for distributing classes it includes ex-dividend drops (slightly deeper than total return)
Filled area: IE00BD4TXS21; thin lines: the other funds.
The worst episode, fund by fund
Fund
Max drawdown
Trough
Recovery time
Underwater
IE00BD4TXS21
−34.0%
23 Mar 2020
246 days
279 days · back to break-even on 24 Nov 2020
LU0136234654
−34.1%
23 Mar 2020
280 days
313 days · back to break-even on 28 Dec 2020
"Recovery time" = the climb only: trough to break-even (0%). "Underwater" = decline + recovery: peak to break-even.
Drawdown net of Italy inflation
Same curve in purchasing-power terms: as on the site, drawdown follows the real view (volatility stays nominal, per methodology)
In real terms declines are deeper and recoveries slower. Monthly price index (Eurostat), held at the last published value.
Rebalix · IE00BD4TXS21 vs LU0136234654section 2 of 4
RebalixIE00BD4TXS21 vs LU0136234654 · report of 10 September 2026
IE00BD4TXS21 — UBS Core MSCI USA UCITS ETF USD acc · IE00BD4TXS21 · Equity · United States
LU0136234654 — UBS MSCI USA UCITS ETF USD dis · LU0136234654 · Equity · United States
Geographic composition
% of portfolio, from full declared holdings
Sector composition
GICS sectors, same sources and dates
Portfolio overlap
520 common holdings · ticker match on full official portfolios
How the shared part is computed: for each security held by both funds, only the SMALLER of the two weights counts — a stock at 5% in one fund and 1% in the other overlaps by 1%, not 5%. Summed over all 520 common holdings this gives 98.7%: buying both funds, roughly this share of your money buys the same stocks twice. Matching uses the ISIN of each security, as published by both issuers in their baskets.
Rebalix · IE00BD4TXS21 vs LU0136234654section 3 of 4
RebalixIE00BD4TXS21 vs LU0136234654 · report of 10 September 2026
Full comparison table
"—" = not published by the source, never estimated
IE00BD4TXS21 — UBS Core MSCI USA UCITS ETF USD acc · IE00BD4TXS21 · Equity · United States
LU0136234654 — UBS MSCI USA UCITS ETF USD dis · LU0136234654 · Equity · United States
Metric
IE00BD4TXS21
LU0136234654
Note
Identity
Category
Equity · United States
Equity · United States
Rebalix engine classification
Replication
Physical (full replication)
Physical (full replication)
as declared by the issuer
Currency hedging
No
No
source: class name, factsheet
Income policy
accumulating
distributing
—
Costs
TER
0.03%
0.14%
from the KID
Transaction costs (KID)
0.00%
0.00%
internal
All-in cost
0.03%
0.14%
TER + transaction
Tracking difference (3a)
+0.18%
−0.15%
vs its OWN index
Performance in euro (ECB rates)
1 year
+20.1%
+19.7%
—
3 years
+64.1%
+62.8%
—
5 years
+79.8%
+77.6%
—
10 years
+294.4%
+277.2%
— = series younger than the window
Risk · last 3 years
Volatility (ann.)
+15.16%
+15.18%
—
Max drawdown
−19.15%
−19.19%
—
Sharpe
1.14
1.07
risk-free = ECB MRO avg
Sortino
1.67
1.57
like Sharpe, downside only
Distributions (fund currency)
Frequency
accumulating class
semi-annual
—
Distributions, last 12 months
accumulating class
4.3861 USD
per share
Distribution yield
accumulating class
0.59%
12 months / NAV
Last ex-date
accumulating class
13 Aug 2026 · 2.4414 USD
—
Italian taxation
Effective capital-gains rate
26.00%
26.00%
white list, current half-year
Documents & exchanges
Listing venues
9
9
ESMA register
Borsa Italiana ticker
USAUSW
USAEUA
—
Indicative cumulative cost: on 10,000 euro over 5 years (stated assumption: 5%/yr growth, cost = TER + transaction) ~19 euro IE00BD4TXS21 · ~89 euro LU0136234654. Broker costs not included.
Disclaimer
This document is for information only and does not constitute investment advice under Directive 2014/65/EU (MiFID II), investment research, a personal recommendation, or an offer or solicitation to buy or sell financial instruments.
Past performance is not indicative of, nor a guarantee of, future results. The value of an investment can go down as well as up and investors may not get back the capital invested. Euro returns are affected by currency fluctuations.
Before any investment decision, read the KID and the Prospectus, available from the issuers. Tax treatment depends on individual circumstances and may change.
Data come from official issuer documents and public registers, following the public methodology at rebalix.com/en/methodology. "—" fields were not published by the source and have not been estimated. Rebalix receives no compensation from the issuers mentioned.
Rebalix · IE00BD4TXS21 vs LU0136234654section 4 of 4