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Currency hedged Reduce currency risks 

Currency hedging

When it comes to your equity investments, concentrate solely on the markets themselves: With the currency-hedged UBS ETFs based on equity indices, you hedge your portfolio against exchange rate fluctuations - cost-effectively, efficiently and transparently.

Exchange rate fluctuations have many causes, whether central banks' monetary policy, external trade imbalances or unexpected political changes. In difficult phases in particular, these fluctuations can drive either profits or losses on stock markets. With UBS ETFs, however, investors can concentrate completely on their equity strategies - UBS Asset Management offers you a wide range of physically replicated ETFs based on equity indices with currency hedging. This transparent currency hedging strategy helps you to reduce exchange rate risk and optimize your return opportunities.

Numeric example of the MSCI Japan Index

Performance of MSCI Japan indices and JPY/CHF exchange rate
  • Currency fluctuations have a major impact on the investment returns.
  • The example of the MSCI Japan non-hedged EUR share class delivers anannual return of 9.46% compared to an annual return of 11.28% for the MSCI Japan in its base currency (JPY).
  • If the EUR hedged share class had been chosen the annual returnwould have been 9.75%, 1.35% more than the non-hedged share class.

With UBS ETFs, investors can hedge their portfolio in four currencies: Swiss francs (CHF), euros (EUR), US dollars (USD) and the pound sterling (GBP). The currency-hedged ETFs offer access to the equity markets in the Eurozone, the US, Switzerland, Japan, Australia and Canada. This allows UBS Asset Management to offer investors the widest range of currency-hedged ETFs in Europe.*

CHF

EUR

USD

GBP

MSCI Australia UCITS ETF

MSCI Australia UCITS ETF

MSCI Australia UCITS ETF

MSCI Australia UCITS ETF

MSCI Canada UCITS ETF

MSCI Canada UCITS ETF

MSCI Canada UCITS ETF

MSCI Canada UCITS ETF

MSCI Japan UCITS ETF

MSCI Japan UCITS ETF

MSCI Japan UCITS ETF

MSCI Japan UCITS ETF

MSCI United Kingdom UCITS ETF

MSCI United Kingdom UCITS ETF

MSCI United Kingdom UCITS ETF

MSCI EMU UCITS ETF

MSCI EMU UCITS ETF

MSCI USA UCITS ETF

MSCI EMU UCITS ETF

MSCI USA UCITS ETF

MSCI USA UCITS ETF

MSCI Switzerland UCITS ETF

MSCI Switzerland UCITS ETF

MSCI Switzerland UCITS ETF

 

MSCI Switzerland

MSCI Switzerland

MSCI Switzerland

UBS ETFs hedge the foreign currencies of the replicated indices by selling foreign currency forwards at the one-month forward rate. The sum of the sold forwards as at the last trading day of the month corresponds to the market capitalization weighting of the equities contained in the index. These securities are valued in the respective currency two trading days before the first calendar day of the following month. The amount hedged remains constant over the entire month.

The overall return of a currency-hedged UBS ETF therefore comprises two components:

  1. The return of the non-currency-hedged index in the selected reference currency.
  2. The profit or loss arising from the forward contract in the selected reference currency.
How currency hedging works with UBS ETFs
  • Reduced foreign currency risk.
  • Cost efficient access to currency hedged indices.
  • Transparent currency-hedging methodology with one month forward FX contracts.
  • Physical replication of the index market exposures.
  • Distributing and accumulating share classes available.
  • UCITs compliant fund structure.
  • Widest range of currency-hedged ETFs in Europe.*

UBS ETFs invest in various asset classes

For example, equities, bonds, commodities, precious metals, hedge funds and real estate, and may therefore be subject to high fluctuations in value. An investment in these funds is therefore only suitable for investors with an investment horizon of at least five years and a corresponding risk tolerance/capacity.

Market fluctuations

Every fund has specific risks that may increase sharply in unusual market conditions. The net asset value of the fund therefore depends directly on the performance of the underlying index.

Losses

Losses are not offset. For more information about the risks, please see the prospectus.

Currency risks

If the currency of a financial product or financial service is not the same as your reference currency. The performance may increase or decrease due to currency fluctuations.

Risks of restricted or increased liquidity in the fund (liquidity risk)

There are risks that may negatively impact the liquidity of the fund. This may result in the fund temporarily or permanently being unable to meet its payment obligations or it temporarily or permanently being unable to fulfill redemption requests from investors. It may occur that the investors would not be able to hold the instrument for the planned holding period and the invested capital or parts thereof may be unavailable indefinitely. If liquidity risks are realized, it may also occur that the net asset value of the fund, and therefore also the unit value, would fall, for example if the company is forced, where legally permissible, to sell assets for the fund at below the market value.

Counterparty risk including credit/receivables risk

There are risks that may arise for the fund as part of a contractual relationship with another party (so-called counterparty). In this respect there is a risk that the contractual party may no longer be able to fulfill its obligations under the contract. These risks may negatively impact the performance of the fund and are therefore detrimental to the unit value and the capital invested by the investor. If the investor sells units in the fund at a time when a counterparty or central clearing counterparty has defaulted and therefore the value of the fund has been negatively impacted, it is possible that the investor may not receive all or any of the money he/she has invested in the fund. As such, the investor could lose some or even all of the capital invested in the fund.

Operational and other risks for the fund

Operational risks refer to risks that may, for example, arise as a result of insufficient internal processes as well as human or system errors at the company or external third parties. In particular, this includes risks resulting from criminal acts, misuse or natural disasters, legal or political risks, changes to tax conditions or custody risks. These risks may negatively impact the performance of the fund and are therefore detrimental to the unit value and the capital invested by the investor. If an investor sells units in the fund at a time when the prices of the assets contained in the fund are lower than when they were acquired, he/she may not receive all or any of the money he/she has invested in the fund. As such, the investor could lose some or even all of the capital invested in the fund.

Specific risks

These risks are not exhaustive. Investments in a product should be made only after careful study of the current prospectus. The distribution of this information is permitted only under the conditions provided by applicable law.

Currency hedged ETFs in focus

Fundname ISIN Replication Fee Last NAV
Currency
Fact sheet

UBS ETF (LU) Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (hedged to EUR) A-accLU1215461325

Physical

0.25%

16.2904 EUR

pdf

Fund description

The fund aims to track, before expenses, the price and yield performance of the Bloomberg Barclays MSCI US Liquid Corporates Sustainable Index (hedged to EUR).The fund invests in bonds of the underlying index, and provides exposure to investment grade, USD denominated securities issued by US corporate issuers operating in financial, industrial and utility sectors.

UBS ETF (LU) Bloomberg Barclays MSCI US Liquid Corporates Sustainable UCITS ETF (hedged to CHF) A-disLU1215461754

Physical

0.25%

14.907 CHF

pdf

Fund description

The fund aims to track, before expenses, the price and yield performance of the Bloomberg Barclays MSCI US Liquid Corporates Sustainable Index (hedged to CHF).The fund invests in bonds of the underlying index, and provides exposure to investment grade, USD denominated securities issued by US corporate issuers operating in financial, industrial and utility sectors.

UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (hedged to CHF) A-accLU1215454973

Physical

0.38%

17.8205 CHF

pdf

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Select Dynamic 50% Risk Weighted 100% hedged to CHF index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI EMU Select Dynamic 50% Risk Weighted 100% hedged to CHF Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI ACWI SF UCITS ETF (hedged to USD) A-accIE00BYM11J43

Synthetic

0.21%

142.4954 USD

pdf

Fund description

The investment objective of the fund is to deliver the net total return performance of the MSCI ACWI with Developed Markets 100% hedged to USD Index less costs.The Fund replicates synthetically the index performance by investing in a swap.The swap counterparty transfers collateral to the ETF in the form of G10 government bonds, supranational bonds and cash.

UBS ETF (IE) Factor MSCI USA Quality UCITS ETF (hedged to CHF) A-accIE00BX7RRN62

Physical

0.35%

19.0908 CHF

pdf

Fund description

The fund generally invests in US large and mid cap stocks which are contained in the MSCI USA Quality 100% hedged to CHF index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI USA Quality 100% hedged to CHF index net of fees. The stock exchange price may differ from the net asset value.The purpose of the Currency Hedge is to limit the profit or loss generated from foreign exchange exposure when holding an US Dollar denominated asset in a currency other than US Dollars.

UBS ETF (LU) Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (hedged to CHF) A-accLU1484800955

Physical

0.25%

14.4139 CHF

pdf

Fund description

The fund aims to track, before expenses, the price and yield performance of the Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable hedged to CHF Index.The fund invests in bonds of the underlying index, and provides exposure to investment grade, EUR denominated securities issued by Eurozone corporate issuers operating in financial, industrial and utility sectors.

UBS ETF (LU) Factor MSCI EMU Quality UCITS ETF (hedged to CHF) A-accLU1215452092

Physical

0.38%

17.9076 CHF

pdf

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Quality 100% hedged to CHF Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI EMU Quality 100% hedged to CHF Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI ACWI Socially Responsible UCITS ETF (hedged to USD) A-accIE00BDR55703

Physical

0.48%

11.2217 USD

pdf

Fund description

The fund generally invests in the MSCI ACWI SRI 5% Issuer Capped with Developed Markets 100% hedged to USD Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI ACWI SRI 5% Issuer Capped with Developed Markets 100% hedged to USD Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) MSCI Canada UCITS ETF (hedged to USD) A-accLU1130155861

Physical

0.43%

21.9855 USD

pdf

Fund description

The fund generally invests in stocks contained in the MSCI Canada Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI Canada Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) MSCI Canada UCITS ETF (hedged to CHF) A-accLU1130155432

Physical

0.43%

20.6865 CHF

pdf

Fund description

The fund generally invests in stocks contained in the MSCI Canada Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI Canada Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (hedged to CHF) A-accLU1215453496

Physical

0.38%

15.1385 CHF

pdf

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Prime Value 100% hedged to CHF Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI EMU Prime Value 100% hedged to CHF Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) MSCI Switzerland 20/35 hedged to USD UCITS ETF (USD) A-accLU0977261089

Physical

0.30%

27.6713 USD

pdf

Fund description

The fund invests in large and mid cap stocks which are contained in the MSCI Switzerland 20/35 index.The relative weightings of the components correspond to their weightings in the index.The investment objective is to replicate the price and yield performance of the MSCI Switzerland.

UBS ETF (LU) MSCI Switzerland 20/35 hedged to EUR UCITS ETF (EUR) A-disLU0979892220

Physical

0.30%

16.7359 EUR

pdf

Fund description

The fund invests in large and mid cap stocks which are contained in the MSCI Switzerland 20/35 hedged to EUR index.The relative weightings of the components correspond to their weightings in the index.The investment objective is to replicate the price and yield performance of the MSCI Switzerland 20/35 hedged to EUR.

UBS ETF (IE) MSCI United Kingdom IMI Socially Responsible UCITS ETF (hedged to CHF) A-disIE00BZ0RTB90

Physical

0.38%

10.3653 CHF

pdf

Fund description

The fund generally invests in stocks contained in the MSCI UK IMI Extended SRI 5% Issuer Capped 100% hedged to CHF Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the performance of the MSCI UK IMI Extended SRI 5% Issuer Capped 100% hedged to CHF Index.The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI ACWI SF UCITS ETF (hedged to CHF) A-accIE00BYM11L64

Synthetic

0.21%

128.8628 CHF

pdf

Fund description

The investment objective of the fund is to deliver the net total return performance of the MSCI ACWI with Developed Markets 100% hedged to CHF Index less costs.The Fund replicates synthetically the index performance by investing in a swap.The swap counterparty transfers collateral to the ETF in the form of G10 government bonds, supranational bonds and cash.

UBS ETF (LU) MSCI UK hedged CHF UCITS ETF (CHF) A-accLU0950671072

Physical

0.30%

17.5797 CHF

pdf

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI United Kingdom index.The relative weightings of the components correspond to their weightings in the index.The fund invests in shares and currency hedges according to the respective composition of the index.The investment objective is to replicate the price and yield performance of the MSCI United Kingdom100% hedged to CHF.

UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (hedged to USD) A-accLU1215453736

Physical

0.38%

21.55 USD

pdf

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Prime Value 100% hedged to USD Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI EMU Prime Value 100% hedged to USD Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI ACWI Socially Responsible UCITS ETF (hedged to CHF) A-disIE00BDR55D61

Physical

0.48%

9.6203 CHF

pdf

Fund description

The fund generally invests in the MSCI ACWI SRI 5% Issuer Capped with Developed Markets 100% hedged to CHF Index. The relative weightings of the companies correspond to their weightings in the index.The investment objective is to replicate the price and return performance of the MSCI ACWI SRI 5% Issuer Capped with Developed Markets 100% hedged to CHF Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI Australia UCITS ETF (hedged to GBP) A-accIE00BXDZNQ90

Physical

0.50%

16.8501 GBP

pdf

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI Australia 100% hedged to GBP index. The relative weightings of the components correspond to their weightings in the index.The investment objective is to replicate the price and yield performance of the MSCI Australia 100% hedged to GBP.The purpose of the Currency Hedge is to limit the profit or loss generated from foreign exchange exposure when holding an Australian Dollar denominated asset in a currency other than AUD.

UBS ETF (LU) MSCI Japan hedged CHF UCITS ETF (CHF) A-accLU0950672120

Physical

0.45%

14.8036 CHF

pdf

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI Japan hedged to CHF index. The relative weightings of the components correspond to their weightings in the index.The investment objective is to replicate the price and yield performance of the MSCI Japan hedged to CHF.


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