One email when new issuers, new metrics and new articles land. Double opt-in, zero spam, one-click unsubscribe.
Description
UBS Silver ETF USD acc tracks the issuer-declared index: LBMA Silver Price. The declared annual cost (TER) is 0.45%, plus 0.00% in transaction costs estimated by the issuer in the KID. The fund was launched on 25 November 2010 and is domiciled in Switzerland.
The fund’s objective — in the issuer’s words
The investment objective of the sub-fund is to reflect the performance of silver after deducting the commissions and costs charged to the subfund. In addition to a metal account holding a maximum of 1100 ounces, the subfund invests exclusively in physical silver, usually in the form of standard bars of approx. 23.3 kg to 34.2 kg with a purity of 999/1000 or better. Sustainability risks are not systematically integrated as they are not taken into account as part of the index selection process. The fund's return depends primarily on the performance of the precious metals that serve as the underlying asset. The sub-fund's income is not distributed, but is reinvested.
Keep reading the KID section ▾
Intended retail investorThis fund applies to retail investors with a basic financial understanding, who can accept a possible loss on the investment amount. The fund is aimed at growing the investment value, while granting daily access to the capital under normal market conditions. With their investment in this fund, investors can satisfy long term investment needs. The fund is suited to be acquired by the target client segments without any restriction of the distribution channel or platform.
From the KID’s “Objectives” section · 2 September 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.
Quick reads
TER 0.45%: above the median of commodity products we track (0.30%).
Average tracking difference over the last 3 years: -0.71% p.a., against a declared TER of 0.45%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.
Fund performance
issuer-declared net asset value (NAV) · USD · from Nov 2010 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+121.9%
Annualised
+5.2%
Volatility (ann.)
33.4%
Max drawdown
-76.40%
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.
Drawdown — distance from previous peak
This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
Max drawdown
-76.40%
peak → trough
Trough
19 Mar 2020
from the 28 Apr 2011 peak
Recovery time
2,036 days
recovery only: trough to break-even · ≈ 5 years and 7 months
Underwater
5,284 days
decline + recovery: peak to break-even · ≈ 14 years and 6 months · → recovered on 15 Oct 2025
The five worst falls in the period
From the peak of
Trough
Depth
Back to break-even
Days underwater
28 Apr 2011
19 Mar 2020
-76.40%
15 Oct 2025
5,284
29 Jan 2026
17 Jul 2026
-53.42%
ongoing
217
17 Oct 2025
28 Oct 2025
-14.17%
01 Dec 2025
45
30 Dec 2010
28 Jan 2011
-13.14%
16 Feb 2011
48
07 Mar 2011
15 Mar 2011
-7.44%
24 Mar 2011
17
Calendar-year returns
2016
17.0%
2017
3.4%
2018
-9.7%
2019
16.0%
2020
47.9%
2021
-13.2%
2022
2.9%
2023
1.2%
2024
20.9%
2025
152.9%
2026
-12.5%
Month-by-month returns
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Year
2026
37.8
-12.8
-19.2
1.1
3.0
-22.4
-1.9
21.7
-6.6
-12.5
2025
7.2
-1.5
9.3
-5.4
2.6
8.7
0.6
7.1
19.0
6.0
10.1
38.8
152.9
2024
-4.8
-3.3
9.8
8.6
17.3
-6.1
-2.8
3.1
5.4
8.1
-8.6
-4.1
20.9
2023
-3.6
-10.8
16.3
3.6
-6.1
-3.4
8.4
0.7
-6.0
0.5
7.8
-3.1
1.2
2022
-2.6
8.2
1.9
-5.6
-7.2
-6.3
-1.7
-10.6
5.9
0.7
12.5
10.6
2.9
2021
3.5
-2.7
-10.1
7.8
6.7
-6.8
-1.1
-5.7
-10.5
11.5
-4.8
0.9
-13.2
2020
0.3
-3.9
-19.0
10.0
14.7
1.4
34.8
13.6
-13.3
-0.5
-6.3
19.5
47.9
2019
5.1
-1.7
-4.6
-0.8
-3.4
5.1
8.2
11.6
-6.2
4.6
-6.1
5.0
16.0
2018
2.1
-4.6
-1.0
0.6
1.0
-3.2
-3.8
-5.1
-2.4
0.2
-0.8
7.4
-9.7
2017
6.4
5.7
-1.2
-3.6
-0.6
-4.9
1.7
3.4
-2.8
-0.3
-1.5
1.7
3.4
2016
1.8
4.7
4.2
16.1
-10.1
14.3
9.1
-6.5
3.2
-8.3
-6.2
-2.6
17.0
2015
5.9
-2.3
0.4
-0.5
0.9
-5.9
-7.3
-0.9
1.4
6.6
-9.9
-1.9
-13.8
2014
-1.0
10.1
-6.1
-3.5
-1.5
9.8
-0.9
-5.9
-12.2
-5.4
-1.5
-0.0
-18.5
2013
6.9
-9.7
-1.1
-14.8
-7.6
-16.5
5.7
18.5
-8.3
2.4
-10.3
-2.2
-35.3
2012
19.2
10.8
-12.9
-3.8
-10.0
-3.7
4.1
8.2
13.5
-6.9
6.1
-12.7
5.6
2011
-9.4
20.6
13.0
28.5
-20.7
-9.4
13.1
4.3
-26.4
12.4
-8.5
-10.2
-8.6
2010
12.8
11.6
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: UBS. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.
Tracking difference — fund vs index
How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.71% /anno
Declared TER
0.45%
Year
Fund
Index
Difference
2025
+152.89%
+154.02%
-1.13%
2024
+20.92%
+21.46%
-0.54%
2023
+1.22%
+1.68%
-0.46%
2022
+2.87%
+3.34%
-0.47%
2021
-13.23%
-12.84%
-0.39%
2020
+47.91%
+48.58%
-0.67%
2019
+16.03%
+16.54%
-0.51%
2018
-9.72%
-9.31%
-0.41%
2017
+3.38%
+3.85%
-0.47%
2016
+16.98%
+17.51%
-0.53%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →
Risk indicators· EUR
Last year
Last 3 years
Last 5 years
Last 10 years
Full history
Volatility (ann.)
58.31%
39.84%
34.55%
30.31%
31.71%
Max drawdown
-51.25%
-51.25%
-51.25%
-51.25%
-67.68%
Sharpe
1.09
0.91
0.70
0.49
0.32
Sortino
1.43
1.23
0.96
0.68
0.44
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.
Stock exchange listings
Exchange
Ticker
Trading since
Börse Hannover
UFU6
13 Nov 2025
Tradegate Exchange
UFU6
22 Sept 2025
+ 2 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.
Frequently asked questions
Which index does UBS Silver ETF USD acc track?
The issuer UBS declares the benchmark: LBMA Silver Price.
How much does UBS Silver ETF USD acc cost?
The issuer-declared TER is 0.45% per year; the transaction costs estimated in the KID are 0.00%.
When was UBS Silver ETF USD acc launched?
The fund was launched on 25 November 2010: it has 15 years of history.
How does UBS Silver ETF USD acc replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Physical (Full replicated)”).
Does UBS Silver ETF USD acc pay dividends?
Issuer-declared income policy: “No”.
Where does UBS Silver ETF USD acc trade?
Per the official ESMA register it trades on 2 main exchanges, including Börse Hannover (UFU6), Tradegate Exchange (UFU6).
What was UBS Silver ETF USD acc's worst fall?
Over the available history (since 2010), the maximum drawdown was -76.40%, reached in March 2020. Past performance is not indicative of future results.
What is UBS Silver ETF USD acc's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.71% per year versus its index (from issuer-declared series).
Transparency note
The data in this sheet is declared by UBS in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.