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For marketing and information purposes by UBS. CNMV registration number (Comisión Nacional del Mercado de Valores): .  Representative in Spain for UBS funds established under foreign law: UBS Bank, S.A., MARÍA DE MOLINA, 4, E-28006 MADRID. Prospectuses, simplified prospectuses or Key investor information, the articles of association or the management regulations as well as annual and semi-annual reports of UBS funds are available free of charge from UBS, MARÍA DE MOLINA Nº 4, 28006 MADRID / AVENIDA DIAGONAL Nº 640, 2º A, E-08017 BARCELONA / FERNÁNDEZ Y GONZÁLEZ Nº 2, PLANTA PRINCIPAL, E-41001 SEVILLA / C/ROGER DE LAURIA Nº 7, 1ª PLANTA, 46002 VALENCIA / COSO Nº 33, 5º A, 50003 ZARAGOZA, CANTÓN PEQUEÑO 15, 4º, 15003 A CORUÑA. Before investing in a product please read the latest prospectus carefully and thoroughly. Units of UBS funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors and may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided by UBS without any guarantee or warranty and are for the recipient's personal use and information purposes only. This document may not be reproduced, redistributed or republished for any purpose without the written permission of UBS AG. Source for all data and charts (if not indicated otherwise): UBS Asset Management

Competitive ETF Pricing

Learn more about how the cost of ETFs are calculated compared to traditional funds and what factors affect ETF fees..

In the case of UBS ETFs, ETF costs are measured by the total expense ratio (TER).

Total expense ratio (TER)

The total expense ratio is the ratio between total costs and the average fund size during a fiscal year. Costs are defined as all expenses in the income statement, including management, administration, custody, auditing, legal and advisory fees (operating expenses). The ETF total expense ratio is expressed retroactively as a percentage of the average fund assets and is calculated in accordance with the guidelines on the calculation and disclosure of the TER of collective investment schemes. 

Tracking Difference

The tracking difference is the difference between fund performance and index performance. The fund performance represents all costs relevant to the fund and all income flows into the fund. Both the ETF total expense ratio and the tracking difference are published in the fund's semi-annual and annual report.

ETF Pricing 

Several factors contribute to pricing ETFs and affect individual ETF costs. The total cost of owning an ETF depends largely on your chosen portfolio strategy as well as the asset class the fund invests in. ETF fees are lower than traditional mutual funds however they do have a wide variety of different pricing terms. ETF spreads also vary in relation to ETF activity.