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Description
UBS CMCI Commodity Carry SF UCITS ETF USD acc is an actively managed ETF: it does not track an index — the declared index (UBS CM-BCOM Outperformance Strategy Index ex-Precious Metals 2.5 Leveraged Net of Cost Total Return) is a comparison yardstick only. The declared annual cost (TER) is 0.34%, plus 0.00% in transaction costs estimated by the issuer in the KID. The fund has assets of about 125 million euro, was launched on 16 January 2020 and is domiciled in Ireland.
The fund’s objective — in the issuer’s words
The objective of the Fund is capital appreciation. The Fund tracks the daily performance of a commodity index, called the UBS CM-BCOM Outperformance Strategy Index ex-Precious Metals 2.5 Leveraged Net of Cost Total Return (the 'Index'), less fees and costs and consequently is passively managed. The Fund invests in financial derivative instruments ('FDIs') with UBS AG, London Branch ('UBS') as counterparty. The Fund may also invest in securities (e.g. company shares and bonds issued by companies and governments). Under the terms of the FDIs, the performance of the Index is swapped from UBS to the Fund, and in return the performance of the securities is swapped from the Fund to UBS – consequently, the Fund's performance reflects the performance of the Index and is not impacted by the performance of the securities The Index provides an exposure to the difference in performance of two commodity indices. Its objective is therefore not to directly track movements in commodity markets. The Index also utilises leverage, meaning that its value may rise or fall more than the difference in performance of the two commodity indices to which it has exposure. More information on the Index is available at www.ubs.com/cmci. As a result of fees and costs, the performance of the Fund on any day will always be less than the performance of the Index on that day. 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. The share class does not pay dividends.
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 CMCI Commodity Carry SF 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
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 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+36.8%
Annualised
+4.8%
Volatility (ann.)
11.7%
Max drawdown
-26.99%
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.
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 1 of the last 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.14% /anno
Declared TER
0.34%
Year
Fund
Index
Difference
2025
+7.95%
+7.93%
+0.02%
2024
+4.51%
+4.66%
-0.15%
2023
+10.41%
+10.72%
-0.30%
2022
+7.19%
+7.52%
-0.33%
2021
+6.72%
+7.17%
-0.45%
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
Full history
Volatility (ann.)
20.55%
14.14%
14.03%
13.36%
Max drawdown
-26.69%
-29.50%
-29.50%
-29.50%
Sharpe
-0.87
-0.40
0.14
0.24
Sortino
-1.31
-0.59
0.21
0.36
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.
Stock exchange listings
Exchange
Ticker
Trading since
Börse Düsseldorf
UEQC
15 May 2020
Börse Frankfurt
UEQC
22 Jan 2020
Börse Hamburg
UEQC
3 Mar 2021
Börse Hannover
UEQC
9 Dec 2024
Börse München / gettex
UEQC
21 Sept 2021
Börse Stuttgart
UEQC
12 Feb 2021
Tradegate Exchange
UEQC
19 Mar 2020
Xetra (Deutsche Börse)
UEQC
22 Jan 2020
+ 8 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 CMCI Commodity Carry SF UCITS ETF USD acc track?
The issuer UBS declares the benchmark: UBS CM-BCOM Outperformance Strategy Index ex-Precious Metals 2.5 Leveraged Net of Cost Total Return.
How much does UBS CMCI Commodity Carry SF UCITS ETF USD acc cost?
The issuer-declared TER is 0.34% per year; the transaction costs estimated in the KID are 0.00%.
What is the fund size of UBS CMCI Commodity Carry SF UCITS ETF USD acc?
The fund size declared by UBS is about 125 million euro.
When was UBS CMCI Commodity Carry SF UCITS ETF USD acc launched?
The fund was launched on 16 January 2020: it has 6 years of history.
Is UBS CMCI Commodity Carry SF UCITS ETF USD acc actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (UBS CM-BCOM Outperformance Strategy Index ex-Precious Metals 2.5 Leveraged Net of Cost Total Return) is a yardstick for comparison, not an index being tracked. Exposure is obtained through synthetic (swap) replication (issuer wording: “Sintetica (Fully funded + Total Return Swap)”).
Does UBS CMCI Commodity Carry SF 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 CMCI Commodity Carry SF UCITS ETF USD acc trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (UEQC), Börse Frankfurt (UEQC), Börse Hamburg (UEQC), Börse Hannover (UEQC), Börse München / gettex (UEQC), Börse Stuttgart (UEQC).
What was UBS CMCI Commodity Carry SF UCITS ETF USD acc's worst fall?
Over the available history (since 2020), the maximum drawdown was -26.99%, reached in April 2026. Past performance is not indicative of future results.
What is UBS CMCI Commodity Carry SF UCITS ETF USD acc's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.14% 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.