# UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution (UB32)

**Page:** https://fundology.uk/fund/ub32 · ISIN LU0480132876

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, UB32 (UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution, ISIN LU0480132876) closed at £115.92 on the London Stock Exchange. Its ongoing charge is 0.15% a year (about £15 on £10,000). Over the five years to 13/11/2026 its total return was +39.7%, or +9.0% after UK CPIH inflation.

## Summary

UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution is an exchange-traded fund (ETF) from UBS, launched in 2010. It tracks the MSCI EM (Emerging Markets) — companies in emerging economies such as China, India, Taiwan and Brazil. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.15% a year — about £15 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£115.92** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UB32 |
| ISIN | LU0480132876 |
| Also listed as | UB30 (London Stock Exchange, US dollars), UIMI (Xetra, euros) |
| Category | Emerging markets |
| Type | ETF |
| Provider | UBS |
| Tracks | MSCI EM (Emerging Markets) |
| Income | Distributing |
| Ongoing charge | 0.15% a year (£15 per £10,000) |
| Fund size | £2.2bn |
| Launched | 2010 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/11/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +11.86% | +7.89% | income reinvested |
| 3 years | +63.98% | +48.16% | income reinvested |
| 5 years | +39.66% | +9.01% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution in pounds (price only, income paid out not included): 2022 −12.7%, 2023 +1.0%, 2024 +7.3%, 2025 +23.5%; 2026 to 13/11/2026 +9.5%. Returns of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +26.6%; to 30/09/2025: +16.0%; to 30/09/2024: +12.6%; to 30/09/2023: −0.7%; to 30/09/2022: −14.1%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -12.7% | -20.1% | Price |
| 2023 | +1.0% | -3.1% | Price |
| 2024 | +7.3% | +3.7% | Price |
| 2025 | +23.5% | +19.3% | Price |
| 2026 to 13/11/2026 | +9.5% | +6.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 19.27% | -16.30% |
| 3 years | 15.81% | -16.30% |
| 5 years | 15.95% | -24.01% |

## Largest fall

Volatility of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution in pounds, annualised from weekly returns to 13/11/2026: 19.3% over 1 year, 15.8% over 3 years, 16.0% over 5 years. Largest fall in the price of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution since November 2021, in pounds: −22.3% from 19/11/2021 to 28/10/2022. The lowest 12-month return of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution in pounds (price only, income paid out not included) since January 2021 was −20.8% (12 months to 28/10/2022); the highest was +53.9% (12 months to 19/06/2026). On 13/11/2026 the price of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution was 14.1% below its highest weekly close since November 2021 (19/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution 0.15% a year. Compared on 14/11/2026, 138 of the 151 other emerging-market share funds charge more, 4 the same and 9 less (share classes counted once).

## Funds tracking the same index

20 funds track MSCI EM (Emerging Markets), this one included and share classes counted once; their ongoing charges range from 0.09% to 0.55% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Core MSCI Emerging Markets -UCITS ETF DR- Capitalisation | 0.18% | +11.8% | +59.0% | +37.7% |
| Amundi Core MSCI Emerging Markets -UCITS ETF DR- Distribution | 0.24% | +11.4% | +62.1% | +37.5% |
| Amundi MSCI Emerging Markets Swap -UCITS ETF USD C- Capitalisation | 0.20% | +13.7% | +63.6% | +40.6% |
| Amundi MSCI Emerging Markets Swap II UCITS ETF Act -USD Acc- | 0.55% | +11.5% | +61.8% | +35.6% |
| BNP PARIBAS EASY MSCI EMERGING Capitalisation -UCITS ETF- | 0.09% | — | — | — |
| HSBC MSCI Emerging Markets UCITS ETF | 0.15% | +13.7% | +62.6% | +39.9% |
| HSBC MSCI EMERGING MARKETS UCITS ETF AccumUSD | 0.15% | +13.7% | — | — |
| Invesco MSCI Emerging Markets UCITS ETF | 0.19% | +13.4% | +62.3% | +39.0% |
| iShares MSCI EM UCITS ETF USD (Acc) | 0.18% | +13.5% | +63.8% | +41.0% |
| iShares MSCI EM UCITS ETF USD (Dist) | 0.18% | +13.5% | +63.7% | +40.8% |
| iShares VI PLC - iShares MSCI EM Swap UCITS ETF Accum- USD | 0.14% | — | — | — |
| Multi Units LU - Amundi MSCI Emerging Markets II | 0.14% | +13.7% | +64.1% | — |
| Multi Units LU - Amundi MSCI Emerging Markets II Acc | 0.14% | +14.3% | +64.2% | — |
| State Street SPDR MSCI Emerging Markets UCITS ETF Accum.Shs USD | 0.18% | +12.2% | +60.6% | +38.4% |
| UBS (Irl) Fund Solutions PLC - UBS MSCI EM SF UCITS ETF Accum Shs USD | 0.14% | +13.6% | +58.7% | +40.7% |
| UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution (this fund) | 0.15% | +11.9% | +64.0% | +39.7% |
| Xtrackers MSCI Emerging Markets Swap UCITS ETF | 0.12% | +14.2% | — | — |
| Xtrackers MSCI Emerging Markets Swap UCITS ETF Capitalisation 1C | 0.12% | +13.5% | +62.6% | +39.3% |
| Xtrackers MSCI Emerging Markets UCITS ETF | 0.18% | +13.5% | +63.6% | +40.3% |
| Xtrackers MSCI Emerging Markets UCITS ETF USD | 0.18% | +14.1% | +63.7% | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.15%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of UB32?**

The ongoing charge of UB32 is 0.15% a year — about £15 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution 0.15% a year. Compared on 14/11/2026, 138 of the 151 other emerging-market share funds charge more, 4 the same and 9 less (share classes counted once).

**What does UB32 track?**

UB32 tracks the MSCI EM (Emerging Markets) — companies in emerging economies such as China, India, Taiwan and Brazil.

**Is UB32 accumulating or distributing?**

UB32 is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of UB32?**

The ISIN of UB32 is LU0480132876. An ISIN identifies one exact share class of a fund; UB32 is its ticker on the London Stock Exchange. The same share class is also listed as UB30 (London Stock Exchange, US dollars) and UIMI (Xetra, euros).

**What were UB32’s returns in each of the last five years?**

Calendar-year returns of UB32 in pounds (price only, income paid out not included): 2022 −12.7%, 2023 +1.0%, 2024 +7.3%, 2025 +23.5%; 2026 to 13/11/2026 +9.5%. Past performance is not a guide to future returns.

**How has UB32 done after inflation?**

Over the five years to 13/11/2026 UB32’s total return was +39.7%, or +9.0% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.