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In addition to the usual risks referring to market fluctuations, securities and index type, the investor has to be aware that the funds detailed in this document are also exposed to other risks, such as: secondary market negotiations, differences between NAV and market prices, calculation changes, differences in publications of the index on behalf of the index provider, risks connected to the listing of the index components on different markets, risks connected to the use of derivatives.

There are also further risks these funds that replicate equity or bond indexes are exposed to. The investor is therefore required to have an adequate tolerance and capacity to bear such risks.

For a complete analysis of all the risks described we recommend to read carefully the prospectus.

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.

What is currency hedging and what are the benefits of UBS Currency Hedge?

Currency hedging is the forward sale or purchase of a foreign currency, thus reducing the exchange risk exposure connected with assets or liabilities denominated in a foreign currency. Fluctuating exchange rates can impact returns on foreign investments which is why UBS offer currency hedging to investors wanting to reduce exchange rate risk and optimize return opportunities.

A wide selection of benefits are enjoyed by the UBS ETF investor. Currency hedging with UBS allows cost efficient access to currency hedged indices. With the potential to hedge our portfolios in four different currencies, UBS Asset Management offers investors the widest range of currency-hedged ETFs in Europe*.

Your benefits of investing in UBS ETFs currency hedged at a glance

  • 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.*

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

This example illustrates just how significantly currency fluctuations can impact returns: Calculated in Japanese yen (JPY), the MSCI Japan Index generated a return of 11.28% p.a. between March 2009 and March 2014. Due to exchange rate losses against the franc (CHF), however, Swiss investors only saw a return of 4.90% p.a. With currency hedging in CHF, the annualized return was 9.28%, almost twice as high.

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

Source: MSCI. UBS Asset Management. For illustrative purpose only.

Currency hedged ETFs in focus

Fundname ISIN Replication Fee Last NAV
Currency
Fact sheet

UBS ETF (LU) MSCI USA Socially Responsible UCITS ETF (hedged to CHF) A-disLU1273642733

Physical

0.43%

15.0527 CHF

Fund description

The fund generally invests in stocks contained in the MSCI USA Socially Responsible 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 Socially Responsible 100% hedged to CHF Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (hedged to GBP) A-disLU1215455350

Physical

0.38%

10.8762 GBP

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 GBP Total Return Net 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 GBP Total Return Net index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) MSCI EMU hedged USD UCITS ETF (USD) A-accLU0950669415

Physical

0.28%

27.6461 USD

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU 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 EMU hedged to USD.

UBS ETF (LU) MSCI Switzerland 20/35 hedged to USD UCITS ETF (USD) A-disLU0979892659

Physical

0.30%

22.4266 USD

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 (IE) Factor MSCI USA Low Volatility UCITS ETF (hedged to EUR) A-accIE00BWT3KJ20

Physical

0.35%

19.5527 EUR

Fund description

The fund generally invests in US large and mid cap stocks which are contained in the MSCI USA Select Dynamic 50% Risk Weighted 100% hedged to EUR 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 Select Dynamic 50% Risk Weighted 100% hedged to EUR 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) MSCI Switzerland 20/35 hedged to EUR UCITS ETF (EUR) A-accLU0977260941

Physical

0.30%

16.6424 EUR

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) Factor MSCI USA Total Shareholder Yield UCITS ETF (hedged to CHF) A-accIE00BX7RRY77

Physical

0.35%

15.8855 CHF

Fund description

The fund generally invests in US large and mid cap stocks which are contained in the MSCI USA Total Shareholder Yield Total Return Net hedged in 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 Total Shareholder Yield Total Return Net hedged in 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) Factor MSCI EMU Total Shareholder Yield UCITS ETF (hedged to GBP) A-disLU1215456754

Physical

0.38%

9.8475 GBP

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Total Shareholder Yield 100% hedged to GBP Total Return Net 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 Total Shareholder Yield 100% hedged to GBP Total Return Net Index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (LU) MSCI EMU Socially Responsible UCITS ETF (hedged to CHF) A-disLU1273642907

Physical

0.38%

16.2435 CHF

Fund description

The fund generally invests in stocks contained in the MSCI EMU Socially Responsible 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 price and return performance of the MSCI EMU Socially Responsible 5% Issuer Capped 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 EUR) A-accIE00BYM11K57

Synthetic

0.21%

121.3596 EUR

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 EUR 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) MSCI USA hedged EUR UCITS ETF (EUR) A-accIE00BD4TYG73

Physical

0.19%

23.0297 EUR

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI USA 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 USA 100% hedged to EUR.

UBS ETF (LU) MSCI Canada UCITS ETF (hedged to GBP) A-accLU1130156323

Physical

0.43%

13.502 GBP

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 (IE) Factor MSCI USA Total Shareholder Yield UCITS ETF (hedged to GBP) A-disIE00BXDZNM52

Physical

0.35%

11.109 GBP

Fund description

The fund generally invests in US large and mid cap stocks which are contained in the MSCI USA Total Shareholder Yield 100% hedged to GBP Total Return Net 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 Total Shareholder Yield 100% hedged to GBP Total Return Net 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) MSCI EMU hedged USD UCITS ETF (USD) A-disLU0937835576

Physical

0.28%

24.5922 USD

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU 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 EMU hedged to USD.

UBS ETF (LU) Factor MSCI EMU Quality UCITS ETF (hedged to GBP) A-disLU1215452332

Physical

0.38%

10.7163 GBP

Fund description

The fund generally invests in European large and mid cap stocks which are contained in the MSCI EMU Quality 100% hedged to GBP Total Return Net 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 GBP Total Return Net index net of fees. The stock exchange price may differ from the net asset value.

UBS ETF (IE) MSCI USA hedged CHF UCITS ETF (CHF) A-accIE00BD4TYL27

Physical

0.19%

23.2305 CHF

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI USA 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 USA 100% hedged to CHF.

UBS ETF (IE) MSCI Australia UCITS ETF (hedged to CHF) A-accIE00BX7RS779

Physical

0.50%

17.7202 CHF

Fund description

The fund generally invests in large and mid cap stocks which are contained in the MSCI Australia 100% 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 Australia 100% hedged to CHF.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 Canada UCITS ETF (hedged to EUR) A-accLU1130155606

Physical

0.43%

16.9809 EUR

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 Switzerland 20/35 UCITS ETF (hedged to GBP) A-disLU1169830442

Physical

0.30%

16.255 GBP

Fund description

The fund invests in large and mid cap stocks which are contained in the MSCI Switzerland 20/35 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 Switzerland 20/35 hedged to GBP.

UBS ETF (IE) Factor MSCI USA Prime Value UCITS ETF (hedged to CHF) A-accIE00BX7RRC57

Physical

0.35%

15.5313 CHF

Fund description

The fund generally invests in US large and mid cap stocks which are contained in the MSCI USA 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 MSCI USA Prime Value 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.


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