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UBS Core MSCI Europe UCITS ETF EUR accIndex, costs, backtest, listings and taxation

ISIN: LU0950668524Issuer: UBS
Issuer-declared data
Declared index
MSCI Europe Total Return Net
TER
0.06%
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
569.2 mln EUR
NAV
11.9 EUR
Domicile
Luxembourg
Inception date
4 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 MSCI Europe UCITS ETF EUR acc tracks the issuer-declared index: MSCI Europe Total Return Net. The declared annual cost (TER) is 0.06%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is full physical replication. The fund has assets of about 569 million euro, was launched on 4 August 2025 and is domiciled in Luxembourg.

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

The Fund is passively managed and will take proportionate exposure on the components of the MSCI Europe Index (Net Return) either through direct investments in all or substantially all of the component securities and/or through the use of derivatives in particular where it may not be possible or practicable to replicate the index through direct investments or in order to generate efficiencies in gaining exposure to the index. There may also be instances where a sub-fund holds securities which are not comprised in its index if the portfolio manager of respective subfund believes this to be appropriate considering the sub-fund's investment objective and the investment restrictions or other factors. Exposure to the index through direct replication may be affected by rebalancing costs, while exposure to the index through derivatives may be affected by derivative trading costs. The use of OTC derivatives further engenders counterparty risk which is however mitigated by UBS (Lux) Fund Solutions collateral policy. The sub-fund will invest its net assets predominantly in shares, transferable securities, money market instruments, units of undertakings for collective investment, deposits with credit institutions, structured notes listed or dealt in on a regulated market and other assets eligible under the prospectus. The sub-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 Bank International GmbH, Luxembourg Branch Further Information Information about UBS Core MSCI Europe UCITS ETF and the available share classes, the full prospectus, and the latest annual and semiannual 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 0.06%: below the median of equity ETFs we track (0.22%).
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) · EUR · from Aug 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+24.0%
Annualised
+21.7%
Volatility (ann.)
11.8%
Max drawdown
-9.38%
-3%+5%+13%+22%+30%Aug 2025Nov 2025Feb 2026Jun 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
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%20252026−9.38% · 20 Mar 2026
Max drawdown
-9.38%
peak → trough
Trough
20 Mar 2026
from the 27 Feb 2026 peak
Recovery time
63 days
recovery only: trough to break-even · ≈ 2 months
Underwater
84 days
decline + recovery: peak to break-even · ≈ 3 months · → recovered on 22 May 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Feb 202620 Mar 2026-9.38%22 May 202684
12 Nov 202519 Nov 2025-3.89%18 Dec 202536
22 Aug 202502 Sept 2025-3.05%01 Oct 202540
03 Jul 202608 Jul 2026-2.53%04 Aug 202632
11 Aug 202602 Sept 2026-2.03%ongoing28

Calendar-year returns

2025
10.3%
2026
12.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20263.14.0-7.65.33.33.11.00.5-0.212.5
20251.62.60.92.710.3
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.
Declared TER
0.06%
YearFundIndexDifference
2025+10.30%+10.23%+0.07%
Figures declared by the issuer in the SICAV’s audited annual report (net fund and index returns per calendar year, as of 31 December 2025), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last year
Volatility (ann.)12.09%
Max drawdown-9.38%
Sharpe1.43
Sortino2.22
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, the fund's currency; the table follows the currency selected in the chart.

Portfolio holdings

Top-10 weight
21.0%

Top 10 holdings

ASML HLDG
4.48%
HSBC HOLDINGS (GB)
2.55%
ROCHE HOLDING PART
2.15%
NOVARTIS
2.01%
NESTLE
1.81%
ASTRAZENECA
1.80%
SHELL
1.79%
SIEMENS
1.69%
BANCO SANTANDER
1.42%
SAP
1.33%

Sectors

Finanza
25.6%
Industriali
18.9%
Salute
12.9%
Informatica
8.7%
Beni di prima necessita'
8.6%
Beni di consumo
6.3%
Materiali
5.3%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerland: 14.5%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 13.6%DjiboutiDenmark: 2.6%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 6.2%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 15.3%GabonUnited Kingdom: 22.6%GeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItaly: 5.2%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 8.8%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 5.4%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United Kingdom22.6%
France15.3%
Switzerland14.5%
Germany13.6%
Netherlands8.8%
Spain6.2%
Sweden5.4%
Top 10 holdings and breakdowns as declared by UBS in the fund factsheet, data as of 31 July 2026. 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 →

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:

LU0446734104(class: EUR 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)UBEUR20 Aug 2025
Börse DüsseldorfCHSU6 Aug 2025
Börse FrankfurtCHSU20 Aug 2025
Börse HamburgCHSU19 Jun 2026
Börse HannoverCHSU17 Oct 2025
Börse München / gettexCHSU6 Aug 2025
Börse StuttgartCHSU21 Aug 2025
Xetra (Deutsche Börse)CHSU20 Aug 2025
+ 10 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 MSCI Europe UCITS ETF EUR acc track?
The issuer UBS declares the benchmark: MSCI Europe Total Return Net.
How much does UBS Core MSCI Europe UCITS ETF EUR acc cost?
The issuer-declared TER is 0.06% per year; the transaction costs estimated in the KID are 0.00%.
How is UBS Core MSCI Europe UCITS ETF EUR 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 MSCI Europe UCITS ETF EUR acc?
The fund size declared by UBS is about 569 million euro.
When was UBS Core MSCI Europe UCITS ETF EUR acc launched?
The fund was launched on 4 August 2025: it has 1 year of history.
How does UBS Core MSCI Europe UCITS ETF EUR 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 MSCI Europe UCITS ETF EUR 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 MSCI Europe UCITS ETF EUR acc trade?
Per the official ESMA register it trades on 8 main exchanges, including Borsa Italiana (ETFplus) (UBEUR), Börse Düsseldorf (CHSU), Börse Frankfurt (CHSU), Börse Hamburg (CHSU), Börse Hannover (CHSU), Börse München / gettex (CHSU).
What was UBS Core MSCI Europe UCITS ETF EUR acc's worst fall?
Over the available history (since 2025), the maximum drawdown was -9.38%, reached in March 2026. 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.