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Description
UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis tracks the issuer-declared index: MSCI EMU Small Cap Total Return Net. The declared annual cost (TER) is 0.28%, plus 0.05% in transaction costs estimated by the issuer in the KID. The fund was launched on 7 January 2025 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 EMU Small Cap 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 EMU Small Cap Index (Net Return) nel modo più preciso possibile.
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 lungo 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
TER 0.28%: above 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.
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 Jan 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+38.2%
Annualised
+21.4%
Volatility (ann.)
15.1%
Max drawdown
-15.59%
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
-15.59%
peak → trough
Trough
07 Apr 2025
from the 18 Mar 2025 peak
Recovery time
35 days
recovery only: trough to break-even
Underwater
55 days
decline + recovery: peak to break-even · → recovered on 12 May 2025
The five worst falls in the period
From the peak of
Trough
Depth
Back to break-even
Days underwater
18 Mar 2025
07 Apr 2025
-15.59%
12 May 2025
55
27 Feb 2026
20 Mar 2026
-10.50%
17 Apr 2026
49
24 Oct 2025
21 Nov 2025
-4.89%
22 Dec 2025
59
29 May 2026
08 Jul 2026
-4.53%
ongoing
102
22 Aug 2025
03 Sept 2025
-4.45%
24 Oct 2025
63
Calendar-year returns
2025
23.7%
2026
11.7%
Month-by-month returns
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Year
2026
3.8
3.0
-8.1
8.9
5.3
-4.0
1.6
1.9
-0.1
11.7
2025
2.9
-0.8
2.3
7.6
1.4
1.2
-0.3
0.6
0.7
0.5
2.5
23.7
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 — 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
0.28%
Year
Fund
Index
Difference
2025
+23.64%
+23.04%
+0.60%
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
Full history
Volatility (ann.)
13.63%
15.31%
Max drawdown
-10.49%
-15.59%
Sharpe
0.88
0.98
Sortino
1.30
1.39
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.
Dividends
Latest dividend
0.2551 EUR
ex 13 Aug 2026 · paid 18 Aug 2026
Dividends, last 12 months
0.28 EUR
Dividend yield
2.57%
12-month sum over the NAV as of 8 Sept 2026
Yield by year
Period
Dividends
Dividend yield
1 year
0.28 EUR
2.94 %
2025
0.26 EUR
3.09 %
Dividend contribution to total return
dividendsprice changeprice decline
Calendar per share (EUR)
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
0.02
0.26
2025
0.26
Latest dividends
Per share
Ex-dividend date
Payment
0.2551 EUR
13 Aug 2026
18 Aug 2026
0.0246 EUR
9 Feb 2026
12 Feb 2026
0.2562 EUR
28 Jul 2025
31 Jul 2025
Per-share dividends as declared by the issuer, in EUR, since the first payment (28 Jul 2025). 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:
LU0671493277(class: EUR dis)
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 EMU Small Cap UCITS ETF EUR Ukdis track?
The issuer UBS declares the benchmark: MSCI EMU Small Cap Total Return Net.
How much does UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis cost?
The issuer-declared TER is 0.28% per year; the transaction costs estimated in the KID are 0.05%.
How is UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis 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 EMU Small Cap UCITS ETF EUR Ukdis launched?
The fund was launched on 7 January 2025: it has 1 year of history.
How does UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Physical (Full replicated)”).
Does UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Yes”).
What was UBS MSCI EMU Small Cap UCITS ETF EUR Ukdis's worst fall?
Over the available history (since 2025), the maximum drawdown was -15.59%, 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.