# UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD (UC48) **Page:** https://fundology.uk/fund/uc48 · ISIN IE00B7WK2W23 ## 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, UC48 (UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD, ISIN IE00B7WK2W23) closed at £193.71 on the London Stock Exchange. Its ongoing charge is 0.23% a year (about £23 on £10,000). Over the five years to 13/11/2026 its total return was +41.7%, or +10.6% after UK CPIH inflation. ## Summary UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD is an exchange-traded fund (ETF) from UBS, launched in 2012. It tracks the MSCI AC Asia ex JP. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.23% a year — about £23 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **£193.71** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | UC48 | | ISIN | IE00B7WK2W23 | | Also listed as | UIQI (Xetra, euros) | | Category | Japan & Asia Pacific | | Type | ETF | | Provider | UBS | | Tracks | MSCI AC Asia ex JP | | Income | Accumulating | | Ongoing charge | 0.23% a year (£23 per £10,000) | | Fund size | £759m | | Launched | 2012 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 20/08/2012 | ## 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 | +14.14% | +10.09% | income reinvested | | 3 years | +68.09% | +51.86% | income reinvested | | 5 years | +41.67% | +10.58% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD in pounds (price, with income reinvested in the fund): 2022 −10.1%, 2023 −1.3%, 2024 +15.4%, 2025 +24.8%; 2026 to 13/11/2026 +12.0%. Returns of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +29.5%; to 30/09/2025: +19.1%; to 30/09/2024: +18.3%; to 30/09/2023: +0.1%; to 30/09/2022: −12.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -10.1% | -17.7% | Price | | 2023 | -1.3% | -5.2% | Price | | 2024 | +15.4% | +11.5% | Price | | 2025 | +24.8% | +20.6% | Price | | 2026 to 13/11/2026 | +12.0% | +8.4% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 22.57% | -16.32% | | 3 years | 17.70% | -16.32% | | 5 years | 17.37% | -24.45% | ## Largest fall Volatility of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD in pounds, annualised from weekly returns to 13/11/2026: 22.6% over 1 year, 17.7% over 3 years, 17.4% over 5 years. Largest fall in the price of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD since November 2021, in pounds: −23.2% from 19/11/2021 to 28/10/2022. The lowest 12-month return of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) since January 2021 was −21.4% (12 months to 28/10/2022); the highest was +58.9% (12 months to 19/06/2026). On 13/11/2026 the price of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD was 14.2% below its highest weekly close since November 2021 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD 0.23% a year. Compared on 14/11/2026, 54 of the 108 other Japan and Asia Pacific share funds charge more, 0 the same and 54 less (share classes counted once). ## Funds tracking the same index 2 funds track MSCI AC Asia ex JP, this one included and share classes counted once; their ongoing charges range from 0.23% to 0.50% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi MSCI AC Asia Ex Japan ETF Capitalisation | 0.50% | +14.6% | +66.8% | +40.7% | | UBS MSCI AC Asia ex Japan SF UCITS ETF Accum USD (this fund) | 0.23% | +14.1% | +68.1% | +41.7% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.23%** 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 UC48?** The ongoing charge of UC48 is 0.23% a year — about £23 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 MSCI AC Asia ex Japan SF UCITS ETF Accum USD 0.23% a year. Compared on 14/11/2026, 54 of the 108 other Japan and Asia Pacific share funds charge more, 0 the same and 54 less (share classes counted once). **What does UC48 track?** UC48 tracks the MSCI AC Asia ex JP. **Is UC48 accumulating or distributing?** UC48 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of UC48?** The ISIN of UC48 is IE00B7WK2W23. An ISIN identifies one exact share class of a fund; UC48 is its ticker on the London Stock Exchange. The same share class is also listed as UIQI (Xetra, euros). **What were UC48’s returns in each of the last five years?** Calendar-year returns of UC48 in pounds (price, with income reinvested in the fund): 2022 −10.1%, 2023 −1.3%, 2024 +15.4%, 2025 +24.8%; 2026 to 13/11/2026 +12.0%. Past performance is not a guide to future returns. **How has UC48 done after inflation?** Over the five years to 13/11/2026 UC48’s total return was +41.7%, or +10.6% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.