UCIB ETN — UBS AG London Branch ELKS 1

UBS AG London Branch ELKS 1 (UCIB)

Updated October 2, 2026.

UCIB is an ETN. its expense ratio is 0.55%. Total return is 172.0% over the past 11 years, 185.3 points behind SPY at 357.3%.

This exchange-traded note is senior unsecured debt issued by UBS that tracks a diversified commodities index comprised of futures contracts on 27 components representing 24 commodities across multiple maturities, generating returns through both the underlying futures positions and a daily fixed-income component. The security does not currently distribute income to holders, and carries an expense ratio of 0.55%. It may appeal to investors seeking broad commodities exposure through a debt-based structure rather than traditional equity or fund vehicles.

UCIB performance versus SPY

Price and return data through 2026-10-02.

Total return is 172.0% over the past 11 years, 185.3 points behind SPY at 357.3%. Over the past year its total return — price change plus distributions reinvested — is 38.7%. Its deepest 1-year drawdown was 22.7%.

UCIB key facts

Issuer

UBS Asset Management

Asset type

ETN

Asset class

Equity

Inception date

10/09/2015

Expense ratio

0.55%

Last close

$37.57 (as of 2026-10-02)

AUM

$24,667,500

Average volume

0.0

Last dividend

$0.2726

Beta

0.75

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: UBS Asset Management; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

UCIB risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 22.7%.

Who may consider UCIB — and who may not

It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from UBS Asset Management.