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UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4%Index, costs, backtest, listings and taxation

ISIN: IE000LEVKOK2Issuer: UBS
Issuer-declared data
Declared index
US Equity Defensive Covered Call Index Total Return
TER
0.20%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
NAV
21.78 USD
Domicile
Ireland
Inception date
21 January 2025
Data as declared by UBS in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
Fund historyNot yet available: no data archived for this share class.Open the history →
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Description

UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% tracks the issuer-declared index: US Equity Defensive Covered Call Index Total Return. The declared annual cost (TER) is 0.20%, plus 0.00% in transaction costs estimated by the issuer in the KID. The fund was launched on 21 January 2025 and is domiciled in Ireland. In our registry 1 other ETFs declare the same index.

The fund’s objective — in the issuer’s words(the issuer publishes the KID in Italian)

L'obiettivo del Fondo è la crescita del capitale. Il Fondo replica la performance giornaliera di un indice azionario, denominato US Equity Defensive Covered Call Index (l'«Indice»), al netto delle commissioni e dei costi e di conseguenza è gestito passivamente.

Keep reading the KID section ▾

Il Fondo investe in strumenti finanziari derivati (SFD) con UBS AG, London Branch («UBS») quale controparte. Il Fondo può investire inoltre in titoli (ad es. azioni societarie e obbligazioni emesse da società e governi). In base alle condizioni degli SFD, la performance dell'Indice viene scambiata da UBS al Fondo e a sua volta la performance dei titoli viene scambiata dal Fondo a UBS. Pertanto, la performance del Fondo riflette la performance dell'Indice e non risente della performance dei titoli.

L'Indice è concepito per riflettere la performance di una strategia che consiste nel: a) investire in un indice che replica la performance di 500 grandi società statunitensi, l'S&P500® (l'«Indice sottostante»), e b) vendere opzioni call sull'Indice sottostante. Chi vende un'opzione call sull'Indice sottostante riceve un premio in denaro dall'acquirente che, in contropartita, ha il diritto in futuro di acquistare l'Indice sottostante a un prezzo prestabilito dal venditore dell'opzione. Maggiori informazioni sull'Indice sono disponibili su www.solactive.com. Il fondo non investe direttamente nell'Indice sottostante o nei suoi titoli né vende opzioni call, bensì acquisisce queste esposizioni indirettamente tramite FDI. A causa delle commissioni e dei costi, la performance del Fondo in un qualsiasi giorno potrebbe essere inferiore a quella dell'Indice in quel giorno. I rischi di sostenibilità non sono sistematicamente integrati in quanto non sono considerati parte del processo di selezione dell'Indice. Il rendimento del fondo dipende principalmente dalla performance dell'indice replicato. Questa classe di quote è a distribuzione. La classe di quote può versare dividendi.

Investitore al dettagliocui si intende commercializzare il prodotto Questo fondo è destinato a investitori retail con conoscenze di base in materia finanziaria, che sono in grado di sostenere una possibile perdita sull'importo investito. Il fondo mira a far crescere il valore dell'investimento, fornendo al contempo accesso giornaliero al capitale in condizioni di mercato normali. Mediante questo fondo, gli investitori possono soddisfare le loro necessità di investimento a medio termine. Questo fondo è indicato per essere acquistato dai segmenti di clientela target senza restrizioni a livello di canale o di piattaforma di distribuzione.

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.

Official documents

Key Information Document (KID)PDF in Italian, from the issuer’s site — always the latest filed version
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 Jan 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+21.8%
Annualised
+12.9%
Volatility (ann.)
14.9%
Max drawdown
-18.10%
-19%-8%+4%+15%+27%Jan 2025Jun 2025Nov 2025Apr 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+22%Jan 2025Sept 2026
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.
0%-5%-10%-15%-20%20252026−18.10% · 08 Apr 2025
Max drawdown
-18.10%
peak → trough
Trough
08 Apr 2025
from the 19 Feb 2025 peak
Recovery time
100 days
recovery only: trough to break-even · ≈ 3 months
Underwater
148 days
decline + recovery: peak to break-even · ≈ 5 months · → recovered on 17 Jul 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202508 Apr 2025-18.10%17 Jul 2025148
02 Feb 202630 Mar 2026-8.32%01 May 202688
29 Oct 202520 Nov 2025-4.31%03 Dec 202535
02 Jun 202610 Jun 2026-4.30%03 Aug 202662
08 Oct 202510 Oct 2025-2.90%24 Oct 202516

Calendar-year returns

2025
12.5%
2026
8.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.5-0.6-4.75.94.3-0.80.23.0-0.48.3
2025-1.2-5.1-1.33.84.62.42.13.62.30.40.612.5
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.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
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.

Risk indicators· EUR

Last yearFull history
Volatility (ann.)13.14%16.87%
Max drawdown-10.62%-21.96%
Sharpe0.46-0.18
Sortino0.60-0.23
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. 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: 2.21%), 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.

Dividends

Latest dividend
0.8456 USD
ex 13 Aug 2026 · paid 18 Aug 2026
Dividends, last 12 months
1.75 USD
Dividend yield
8.08%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year1.75 USD8.59 %

Dividend contribution to total return

0%10%20%+14.94 %1 year
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.910.85
20250.74

Latest dividends

Per shareEx-dividend datePayment
0.8456 USD13 Aug 202618 Aug 2026
0.9056 USD9 Feb 202612 Feb 2026
0.7432 USD28 Jul 202531 Jul 2025
Per-share dividends as declared by the issuer, in USD, since the first payment (28 Jul 2025). Past dividends are not indicative of future ones.

ETFs declaring the same index

FundTERIncomeFund size
UBSnot on Borsa Italiana
0.20%——
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Frequently asked questions

Which index does UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% track?
The issuer UBS declares the benchmark: US Equity Defensive Covered Call Index Total Return.
How much does UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.00%.
When was UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% launched?
The fund was launched on 21 January 2025: it has 1 year of history.
How does UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Synthetic (Fully Funded + Total Return Swap)”).
Does UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4% pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Yes”).
What was UBS US Equity Defensive Covered Call SF UCITS ETF USD dis SOFR+4%'s worst fall?
Over the available history (since 2025), the maximum drawdown was -18.10%, reached in April 2025. Past performance is not indicative of future results.
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.