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Description
UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis tracks the issuer-declared index: MSCI Switzerland 20/35 100% hedged to USD Total Return Net. The declared annual cost (TER) is 0.23%, plus 0.01% in transaction costs estimated by the issuer in the KID. The fund was launched on 24 June 2020 and is domiciled in Luxembourg.
The fund’s objective — in the issuer’s words(the issuer publishes the KID in Italian)
Il Fondo è gestito in modo passivo e assumerà un'esposizione proporzionale alle componenti del MSCI Switzerland 20/35 100% hedged to USD Index (Net Return) tramite investimenti diretti in tutti o quasi tutti i titoli che lo compongono e/o mediante l'uso di derivati, in particolare laddove non sia possibile o praticabile replicare l'indice attraverso investimenti diretti o al fine di generare efficienze nell'acquisizione dell'esposizione all'indice. In alcuni casi il comparto potrebbe anche detenere titoli non compresi nell'indice se il gestore del portafoglio lo ritenesse appropriato in funzione dell'obiettivo e delle restrizioni d'investimento del comparto o di altri fattori. L'esposizione all'indice tramite la replica diretta può essere penalizzata dai costi di ribilanciamento, mentre l'esposizione all'indice tramite derivati può risentire dei costi di negoziazione degli strumenti derivati. L'uso di derivati OTC comporta un ulteriore rischio di controparte, che tuttavia è mitigato dalla politica di garanzie di UBS (Lux) Fund Solutions. Il comparto investirà il proprio patrimonio netto prevalentemente in azioni, valori mobiliari, strumenti del mercato monetario, quote di organismi di investimento collettivo, depositi presso istituti di credito, titoli strutturati quotati o negoziati su un mercato regolamentato e altre attività idonee ai sensi del prospetto informativo. Il comparto può effettuare operazioni di prestito titoli. 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 distribuisce i proventi netti al fine di replicare il parametro di riferimento MSCI Switzerland 20/35 100% hedged to USD Index (Net Return) nel modo più preciso possibile. Il rischio di cambio della valuta della classe di azioni è in larga misura coperto dalla valuta del fondo.
Keep reading the KID section ▾
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.
Quick reads
Average tracking difference over the last 3 years: -0.29% p.a., against a declared TER of 0.23%.
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 Jun 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+87.0%
Annualised
+10.6%
Volatility (ann.)
13.0%
Max drawdown
-20.76%
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.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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
-20.76%
peak → trough
Trough
26 Sept 2022
from the 28 Dec 2021 peak
Recovery time
592 days
recovery only: trough to break-even · ≈ 1 year and 7 months
Underwater
864 days
decline + recovery: peak to break-even · ≈ 2 years and 4 months · → recovered on 10 May 2024
The five worst falls in the period
From the peak of
Trough
Depth
Back to break-even
Days underwater
28 Dec 2021
26 Sept 2022
-20.76%
10 May 2024
864
03 Mar 2025
09 Apr 2025
-16.82%
06 Oct 2025
217
27 Feb 2026
20 Mar 2026
-10.77%
27 May 2026
89
16 Sept 2020
29 Oct 2020
-8.81%
28 Dec 2020
103
18 Aug 2021
28 Sept 2021
-7.78%
11 Nov 2021
85
Calendar-year returns
2020
7.1%
2021
24.0%
2022
-14.9%
2023
10.0%
2024
10.0%
2025
21.3%
2026
12.7%
Month-by-month returns
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Year
2026
0.1
6.0
-7.2
4.2
3.7
5.2
1.0
-0.0
-0.2
12.7
2025
8.7
3.1
-2.1
-2.6
2.0
-2.0
-0.1
3.2
-0.5
1.9
4.7
3.7
21.3
2024
1.8
0.7
3.8
-2.5
6.8
-0.0
3.1
1.3
-1.4
-2.7
-0.0
-0.9
10.0
2023
5.7
-1.1
1.9
3.9
-1.6
0.8
0.7
-1.3
-1.6
-4.8
4.9
2.7
10.0
2022
-5.6
-1.9
2.4
0.5
-4.4
-7.0
4.3
-2.8
-5.5
4.9
3.2
-3.2
-14.9
2021
-1.3
-0.5
6.4
1.0
3.6
4.8
1.4
2.4
-5.7
4.2
-0.1
6.3
24.0
2020
0.0
1.6
0.6
-5.7
8.1
2.6
7.1
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.
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 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.29% /anno
Declared TER
0.23%
Year
Fund
Index
Difference
2025
+21.28%
+21.52%
-0.24%
2024
+10.05%
+10.33%
-0.28%
2023
+10.01%
+10.38%
-0.36%
2022
-14.93%
-14.77%
-0.16%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. 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.)
11.88%
13.79%
14.27%
14.02%
Max drawdown
-8.84%
-21.19%
-21.19%
-21.19%
Sharpe
1.57
0.56
0.35
0.50
Sortino
2.33
0.75
0.48
0.69
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
0.252 USD
ex 13 Aug 2026 · paid 18 Aug 2026
Dividends, last 12 months
0.25 USD
Dividend yield
1.41%
12-month sum over the NAV as of 7 Sept 2026
Yield by year
Period
Dividends
Dividend yield
1 year
0.25 USD
1.70 %
2025
0.27 USD
1.97 %
2024
0.29 USD
2.35 %
2023
0.22 USD
1.91 %
2022
0.18 USD
1.30 %
2021
0.18 USD
1.57 %
Dividend contribution to total return
dividendsprice changeprice decline
Calendar per share (USD)
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
0.25
2025
0.27
2024
0.07
0.23
2023
0.22
2022
0.18
2021
0.18
Latest dividends
Per share
Ex-dividend date
Payment
0.252 USD
13 Aug 2026
18 Aug 2026
0.2652 USD
28 Jul 2025
31 Jul 2025
0.2262 USD
7 Aug 2024
13 Aug 2024
0.0672 USD
1 Feb 2024
7 Feb 2024
0.2215 USD
8 Aug 2023
11 Aug 2023
0.18 USD
2 Aug 2022
5 Aug 2022
0.1776 USD
2 Aug 2021
5 Aug 2021
Per-share dividends as declared by the issuer, in USD, since the first payment (2 Aug 2021). Past dividends are not indicative of future ones.
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.
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:
LU1169830442(class: hGBP dis)
XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
LU1169830525(class: hGBP acc)
XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
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.
Frequently asked questions
Which index does UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis track?
The issuer UBS declares the benchmark: MSCI Switzerland 20/35 100% hedged to USD Total Return Net.
How much does UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis cost?
The issuer-declared TER is 0.23% per year; the transaction costs estimated in the KID are 0.01%.
How is UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis 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.
When was UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis launched?
The fund was launched on 24 June 2020: it has 6 years of history.
How does UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Physical (Full replicated)”).
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Yes”).
What was UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis's worst fall?
Over the available history (since 2020), the maximum drawdown was -21.93%, reached in September 2022. Past performance is not indicative of future results.
What is UBS MSCI Switzerland 20/35 UCITS ETF hUSD dis's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.29% 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.