# UBS Core S&P 500 UCITS ETF -A- Hedged GBP (USPG)

**Source:** https://fundology.uk/fund/uspg · ISIN IE00BD34DL14 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 01/10/2026, USPG (UBS Core S&P 500 UCITS ETF -A- Hedged GBP, ISIN IE00BD34DL14) closed at £37.65 on the London Stock Exchange. Its ongoing charge is 0.06% a year (about £6 on £10,000). Over the five years to 01/10/2026 its total return was +78.1%, or +39.2% after UK CPIH inflation.

## Summary

UBS Core S&P 500 UCITS ETF -A- Hedged GBP is an exchange-traded fund (ETF) from UBS, launched in 2016. It tracks the S&P 500 — about 500 of the largest companies listed in the US. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.06% a year — about £6 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. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.

Latest close: **£37.65** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | USPG |
| ISIN | IE00BD34DL14 |
| Category | US shares |
| Type | ETF |
| Provider | UBS |
| Tracks | S&P 500 |
| Income | Distributing |
| Ongoing charge | 0.06% a year (£6 per £10,000) |
| Fund size | £46.2m |
| Launched | 2016 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +15.29% | +11.67% | income reinvested |
| 3 years | +83.31% | +65.41% | income reinvested |
| 5 years | +78.06% | +39.20% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of UBS Core S&P 500 UCITS ETF -A- Hedged GBP in pounds (price only, income paid out not included): 2022 −21.4%, 2023 +22.9%, 2024 +24.3%, 2025 +15.8%; 2026 to 01/10/2026 +9.7%. Returns of UBS Core S&P 500 UCITS ETF -A- Hedged GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +15.9%; to 30/09/2025: +15.2%; to 30/09/2024: +32.4%; to 30/09/2023: +15.5%; to 30/09/2022: −19.1%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -21.4% | -28.1% | Price |
| 2023 | +22.9% | +18.0% | Price |
| 2024 | +24.3% | +20.0% | Price |
| 2025 | +15.8% | +11.8% | Price |
| 2026 to 01/10/2026 | +9.7% | +6.6% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 11.55% | -8.17% |
| 3 years | 13.22% | -15.40% |
| 5 years | 15.07% | -25.49% |

## Largest fall

Volatility of UBS Core S&P 500 UCITS ETF -A- Hedged GBP in pounds, annualised from weekly returns to 01/10/2026: 11.5% over 1 year, 13.2% over 3 years, 15.1% over 5 years. Largest fall in the price of UBS Core S&P 500 UCITS ETF -A- Hedged GBP since October 2021, in pounds: −25.5% from 31/12/2021 to 14/10/2022. The lowest 12-month return of UBS Core S&P 500 UCITS ETF -A- Hedged GBP in pounds (price only, income paid out not included) since January 2021 was −22.1% (12 months to 04/11/2022); the highest was +40.2% (12 months to 25/10/2024). On 01/10/2026 the price of UBS Core S&P 500 UCITS ETF -A- Hedged GBP was 1.8% below its highest weekly close since October 2021 (14/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of UBS Core S&P 500 UCITS ETF -A- Hedged GBP 0.06% a year, as of 02/10/2026: 180 of the 208 other US share funds charge more, 6 the same and 22 less (share classes counted once).

## Funds tracking the same index

41 funds track S&P 500, this one included and share classes counted once; their ongoing charges range from 0.03% to 0.45% a year (01/10/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Index Solutions - S&P 500 UCITS ETF | 0.15% | +17.1% | +68.1% | +89.1% |
| Amundi Index Solutions - S&P 500 UCITS ETF | 0.15% | +17.5% | +70.6% | +35.5% |
| BNP PARIBAS EASY - S&P 500 II | 0.08% | +15.9% | — | — |
| BNP Paribas Easy S&P 500 UCITS ETF Act. EUR HDG | 0.15% | +12.5% | +71.6% | +62.6% |
| BNP Paribas Easy S&P 500 UCITS ETF Class C USD | 0.15% | +18.0% | +69.8% | +90.2% |
| BNP Paribas Easy SICAV - S&P 500 II -UCITS ETF- Distribution | 0.08% | +15.9% | — | — |
| Global X ETFs ICAV-Global X S&P 500Covered Call UCITS ETF USD | 0.45% | +18.5% | +12.9% | — |
| HSBC ETFs PLC - HSBC S&P 500 UCITS ETF Accum USD | 0.09% | +17.0% | +24.8% | — |
| HSBC S&P 500 UCITS ETF USD | 0.09% | +17.0% | +67.7% | +88.1% |
| Invesco S&P 500 UCITS ETF | 0.05% | +17.2% | +68.6% | +90.0% |
| Invesco S&P 500 UCITS ETF | 0.05% | +17.7% | +71.3% | +92.7% |
| Invesco S&P 500 UCITS ETF Hedged GBP | 0.05% | +15.0% | +82.7% | +32.0% |
| iShares Core S&P 500 UCITS ETF | 0.07% | +17.0% | +67.8% | +88.3% |
| iShares Core S&P 500 UCITS ETF | 0.10% | +14.9% | +81.4% | +76.5% |
| iShares Core S&P 500 UCITS ETF | 0.12% | — | — | — |
| iShares Core S&P 500 UCITS ETF USD (Dist) | 0.07% | +17.0% | +67.8% | +88.2% |
| iShares S&P 500 GBP Hedged UCITS ETF (Acc) | 0.20% | +14.7% | +81.1% | +75.7% |
| iShares S&P 500 Swap UCITS ETF AccumUSD | 0.05% | +17.2% | +68.7% | +25.2% |
| iShares S&P 500 Swap UCITS ETF USD | 0.05% | +17.2% | +25.2% | — |
| iShares VI PLC - iShares S&P 500 Swap UCITS ETF Hedged USD | 0.05% | +15.1% | — | — |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap C-EUR | 0.09% | +26.1% | +66.2% | +94.2% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap D USD | 0.05% | +17.2% | +68.6% | +89.8% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap Daily Hedged D EUR | 0.07% | +10.9% | +71.4% | +65.9% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap Daily Hedged to GBP D | 0.05% | +15.1% | +82.8% | +78.9% |
| State Street SPDR S&P 500 UCITS ETF Accum shs - USD | 0.03% | +17.1% | — | — |
| State Street SPDR S&P 500 UCITS ETF USD | 0.03% | +17.1% | +67.8% | +88.2% |
| UBS (Irl) Fund Solutions PLC- UBS S&P 500 SF UCITS ETF Accum Shs USD | 0.19% | +18.3% | +65.9% | +92.3% |
| UBS Core S&P 500 UCITS ETF -A- Hedged GBP (this fund) | 0.06% | +15.3% | +83.3% | +78.1% |
| UBS Core S&P 500 UCITS ETF Accum -A- Hedged CHF | 0.06% | +7.3% | +62.6% | +71.4% |
| UBS Core S&P 500 UCITS ETF AccumUSD | — | +14.4% | — | — |
| UBS Core S&P 500 UCITS ETF Class -A- USD | 0.03% | +17.1% | +67.8% | +88.1% |
| Vanguard S&P 500 UCITS ETF | 0.07% | +17.4% | +68.2% | +88.8% |
| Vanguard S&P 500 UCITS ETF | 0.07% | +17.4% | +68.2% | +88.8% |
| Xtrackers S&P 500 Swap II UCITS ETF -1D- USD | 0.04% | +14.7% | — | — |
| Xtrackers S&P 500 Swap UCITS ETF | 0.07% | +17.2% | +25.1% | — |
| Xtrackers S&P 500 Swap UCITS ETF | 0.20% | +14.8% | +81.5% | +31.3% |
| Xtrackers S&P 500 SWAP UCITS ETF Capitalisation 1C | 0.15% | +17.1% | +68.2% | +89.2% |
| Xtrackers S&P 500 UCITS ETF | 0.17% | +17.1% | +24.9% | — |
| Xtrackers S&P 500 UCITS ETF | 0.32% | +10.7% | +70.4% | +63.4% |
| Xtrackers S&P 500 UCITS ETF -4D- USD | 0.19% | +11.0% | — | — |
| Xtrackers S&P 500 UCITS ETF Accum Shs -2C- Hedged GBP | 0.21% | +14.9% | +81.5% | +76.0% |

Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.06%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

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

The ongoing charge of USPG is 0.06% a year — about £6 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 Core S&P 500 UCITS ETF -A- Hedged GBP 0.06% a year, as of 02/10/2026: 180 of the 208 other US share funds charge more, 6 the same and 22 less (share classes counted once).

**What does USPG track?**

USPG tracks the S&P 500 — about 500 of the largest companies listed in the US.

**Is USPG accumulating or distributing?**

USPG 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 USPG?**

The ISIN of USPG is IE00BD34DL14. An ISIN identifies one exact share class of a fund; USPG is its ticker on the London Stock Exchange.

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

Calendar-year returns of USPG in pounds (price only, income paid out not included): 2022 −21.4%, 2023 +22.9%, 2024 +24.3%, 2025 +15.8%; 2026 to 01/10/2026 +9.7%. Past performance is not a guide to future returns.

**How has USPG done after inflation?**

Over the five years to 01/10/2026 USPG’s total return was +78.1%, or +39.2% 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.