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UBS Core S&P 500 UCITS ETF USD accIndex, costs, backtest, listings and taxation

ISIN: IE00BD4TXW66Issuer: UBS
Issuer-declared data
TER
0.03%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
1.8 bn EUR
NAV
148.3 USD
Domicile
Ireland
Inception date
5 August 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.
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Description

UBS Core S&P 500 UCITS ETF USD acc tracks the issuer-declared index: S&P 500 Total Return Net. The declared annual cost (TER) is 0.03%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is full physical replication. The fund has assets of about 1.8 billion euro, was launched on 5 August 2025 and is domiciled in Ireland. In our registry it is the largest by assets among the 2 ETFs declaring the same index.

The fund’s objective — in the issuer’s words

The Fund is passively managed and seeks to track performance of the S&P 500 Index (Net Return) (the 'Index'). The Index is designed to measure the performance of the 500 leading companies listed on markets in the USA. The Fund will seek to hold all of the shares of the Index, in the same proportions as the Index, so that essentially the portfolio of the Fund will be a near mirror image of the Index. In seeking to implement its investment objective of tracking the performance of the Index, the Fund may also in exceptional circumstances hold securities which are not comprised in its Index, including, for example, securities in respect of which there has been an announcement or it is expected that they will shortly be included in the Index. The Fund may, for the purpose of reducing risk, reducing costs or generating additional capital or income, use derivative instruments. The use of derivative instruments may multiply the gains or losses made by the Fund on given investment or on its investments generally. Currency hedged share classes may also be available in the Fund. The Fund may enter into securities lending transactions. Sustainability risks are not systematically integrated as they are not considered as part of the Index selection process. The return of the fund depends mainly on the performance of the tracked index. Fund income is not paid out, but instead will be 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 medium term investment needs. The fund is suited to be acquired by the target client segments without any restriction of the distribution channel or platform. Depositary State Street Custodial Services (Ireland) Limited Further Information Information about UBS Core S&P 500 UCITS ETF and the available share classes, the full prospectus, and the latest annual and semi-annual reports, as well as additional information can be obtained free of charge from the fund management company, the central administrator, the custodian bank, the fund distributors or online at www.ubs.com/etf. Latest price can be found at www.ubs.com/etf

From the KID’s “Objectives” section · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.03%: below the median of equity ETFs we track (0.22%).
  • Assets larger than 83% of equity ETFs we track.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in Italian, from the issuer’s site — the fund’s monthly snapshot
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 Aug 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+23.9%
Annualised
+21.8%
Volatility (ann.)
12.5%
Max drawdown
-8.92%
-3%+5%+13%+21%+29%Aug 2025Nov 2025Feb 2026May 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%)+24%Aug 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%-2%-4%-6%-8%-10%20252026−8.92% · 30 Mar 2026
Max drawdown
-8.92%
peak → trough
Trough
30 Mar 2026
from the 27 Jan 2026 peak
Recovery time
15 days
recovery only: trough to break-even
Underwater
77 days
decline + recovery: peak to break-even · ≈ 3 months · → recovered on 14 Apr 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Jan 202630 Mar 2026-8.92%14 Apr 202677
28 Oct 202520 Nov 2025-5.02%10 Dec 202543
02 Jun 202610 Jun 2026-4.47%03 Aug 202662
08 Oct 202510 Oct 2025-2.97%24 Oct 202516
11 Dec 202517 Dec 2025-2.58%23 Dec 202512

Calendar-year returns

2025
9.2%
2026
13.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.4-0.8-5.010.55.2-1.0-0.12.70.413.5
20253.62.30.20.09.2
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 — issuer-declared

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 4 of the last 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.11% /anno
Declared TER
0.03%
YearFundIndexDifference
2024+23.62%+23.50%+0.12%
2023+27.49%+27.36%+0.13%
2022+31.30%+31.21%+0.09%
2021+31.30%+31.21%+0.09%
Figures declared by the issuer in the SICAV’s audited annual report (net fund and index returns per calendar year, as of 31 December 2024), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last year
Volatility (ann.)12.74%
Max drawdown-7.47%
Sharpe1.34
Sortino1.96
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: 2.20%), 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.

Portfolio holdings

Securities in portfolio
498
Top-10 weight
37.3%

Top 10 holdings

NVIDIA CORP
7.95%
APPLE INC
7.02%
MICROSOFT CORP
5.42%
AMAZON.COM INC
3.93%
ALPHABET INC-CL A
3.05%
BROADCOM INC
2.59%
ALPHABET INC-CL C
2.44%
META PLATFORMS INC-CLASS A
1.81%
MICRON TECHNOLOGY INC
1.59%
ELI LILLY & CO
1.54%

Sectors

Informatica
38.0%
Finanza
11.8%
Servizi di comunicazione
9.7%
Beni di consumo
9.3%
Salute
8.9%
Industriali
8.9%
Beni di prima necessita'
4.6%
⬇ Download the full portfolio — Excel, 498 rows
Full portfolio declared by UBS, as of 19 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Index tracked

S&P 500 Total Return Net
This fund belongs to the S&P 500 family: compare all census ETFs in this family →

ETFs declaring the same index

FundTERIncomeFund size
UBSnot on Borsa Italiana
0.19%——
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.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B7K93397(class: USD dis)
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BD34DK07(class: hEUR acc)
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BD34DL14(class: hGBP dis)
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)UBSPX20 Aug 2025
Börse DüsseldorfBCFT6 Aug 2025
Börse FrankfurtBCFT20 Aug 2025
Börse HamburgBCFT19 Jun 2026
Börse HannoverBCFT13 Nov 2025
Börse München / gettexBCFT6 Aug 2025
Börse StuttgartBCFT21 Aug 2025
Tradegate ExchangeBCFT14 Jan 2026
Xetra (Deutsche Börse)BCFT20 Aug 2025
+ 7 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 Core S&P 500 UCITS ETF USD acc track?
The issuer UBS declares the benchmark: S&P 500 Total Return Net.
How much does UBS Core S&P 500 UCITS ETF USD acc cost?
The issuer-declared TER is 0.03% per year; the transaction costs estimated in the KID are 0.00%.
How is UBS Core S&P 500 UCITS ETF USD acc taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of UBS Core S&P 500 UCITS ETF USD acc?
The fund size declared by UBS is about 1.8 billion euro.
When was UBS Core S&P 500 UCITS ETF USD acc launched?
The fund was launched on 5 August 2025: it has 1 year of history.
How does UBS Core S&P 500 UCITS ETF USD acc replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (full replication) (issuer wording: “Fisica (Replica completa)”).
Does UBS Core S&P 500 UCITS ETF USD acc pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Non”).
Where does UBS Core S&P 500 UCITS ETF USD acc trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (UBSPX), Börse Düsseldorf (BCFT), Börse Frankfurt (BCFT), Börse Hamburg (BCFT), Börse Hannover (BCFT), Börse München / gettex (BCFT).
What was UBS Core S&P 500 UCITS ETF USD acc's worst fall?
Over the available history (since 2025), the maximum drawdown was -8.92%, reached in March 2026. Past performance is not indicative of future results.
How many securities does UBS Core S&P 500 UCITS ETF USD acc hold?
The declared portfolio holds 498 securities; the top 10 positions weigh 37.3%.
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.