For marketing purposes UK edition Data as at end-February 2025 UBS ETF (IE) Global Gender Equality UCITS ETF (USD) A-dis Fund Fact Sheet UBS Exchange Traded Funds > UBS (Irl) ETF plc Fund description Performance (basis USD, net of fees)1 • The fund generally invests in the Solactive Rebased to 100 on the basis of month-end data in % Equileap Global Gender Equality 100 Leaders Net 200 +25 Total Return Index. The relative weightings of the 180 +20 companies correspond to their weightings in the 160 +15 index. 140 +10 • The investment objective is to replicate the price 120 +5 and return performance of the Solactive Equileap1000 Global Gender Equality 100 Leaders Net Total80-5 Return Index net of fees. The stock exchange60 -10 price may differ from the net asset value. 40 -15 • The fund is passively managed. 20 -20 20172018 2019 2020 2021 2022 2023 2024 2025 Name of fund UBS (Irl) ETF plc – Global Gender Equality UCITS ETF Fund performance net of fees (left-hand scale) Share class UBS (Irl) ETF plc – Global Gender Equality UCITSFund performance per year in % net of fees (right-hand scale) ETF (USD) A-dis Index performance (left-hand scale) ISIN IE00BDR5GT91 UCITS V yes Past performance is not a reliable indicator of future results. Launch date 26.04.2019 Currency of fund / share class USD/USD Management fee p.a.0.20% Performance in % (net of fees) Total expense ratio (TER) p.a.10.20% Please note that additional fees (e.g. entry or exit fees) may be Percentage 1 year 3 years 5 years Ø p.a. 3 Ø p.a. 5 years charged. Please refer to your financial adviser for more details. growth (%) years Name of the Management UBS Fund Management (Ireland) Fund (USD)13.4022.6366.697.04 10.76 CompanyLimited, Dublin 2 Index213.2621.8465.146.81 10.55 Accounting year end31 December Distribution February, August Replication methodology Physical (Full replicated) Percentage Q4 2023Q4 2022Q4 2021Q4 2020Q4 2019 Portfolio management UBS Asset Management (UK) Ltd., growth (%)to Q4 2024 to Q4 2023 to Q4 2022 to Q4 2021 to Q4 2020 representatives London Fund (USD)8.67 17.58 -12.20 16.10 10.83 Fund domicile Ireland Index28.53 17.27 -12.43 16.00 10.61 1 as at 30.06.2024 1 These figures refer to the past. If the currency of a financial product, financial service or its costs Fund statistics is different from your reference currency, the return and/or costs can increase or decrease as a result of currency fluctuations. Source for all data and chart (if not indicated otherwise): UBS Asset Net asset value (USD, 28.02.2025) 18.12 Management. 2 Reference Index in currency of share class (without costs) Last 12 months (USD) – high 18.49 Last 12 months (USD) – low 15.97 Index description Total fund assets (USD m) 406.89 The Index has been designed to track the top companies leading the field Share class assets (USD m) 44.43 internationally in terms of gender equality. In-depth gender equality screening as 2 years 3 years 5 years defined by Equileap is carried out. Companies which derive the majority of their Volatility1 revenues from the controversial weapons, gambling, tobacco or coal extraction – Fund 14.42%17.19% 18.89% and power generation industries are excluded. Also companies which are not – Benchmark14.41%17.20% 18.91% complaint with the UNGC and OECD guidelines are not considered. Tracking error (ex post) 0.08%0.09% 0.09% Index name Solactive Equileap Global Gender Equality 100 Leaders 1 Annualised standard deviation Index Index type Total Return Net Number of index constituents 100 Countries in index 11 Bloomberg ticker SOLGGENR Reuters .SOLGGENR For more information Registrations for public distribution Phone: 0800-587 2111 AT, CH, CL, DE, DK, ES, FI, FR, GB, IE, IT, Internet: www.ubs.com LI, LU, NL, NO, PT, SE Contact your client advisor For Denmark: institutional clients only.1¦3 UBS ETF (IE) Global Gender Equality UCITS ETF (USD) A-dis Market exposure (%) 10 largest equity positions (%) IndexFund United States50.8 Standard Chartered PLC 1.6 France 9.6DoorDash Inc 1.5 Australia 9.2 Wells Fargo & Co 1.5 United Kingdom8.6 Citigroup Inc1.4 VF Corp 1.4 Norway 4.1 JPMorgan Chase & Co 1.3 Spain 3.8 Meta Platforms Inc 1.2 Canada3.1 Boston Scientific Corp 1.2 Switzerland 2.1 Cummins Inc 1.2 New Zealand 1.1 Hilton Worldwide Holdings Inc1.2 Others 7.7 Benefits Risks Clients benefit from the flexibility of an exchange-tradedThis UBS Exchange Traded Fund invests in equities and may investment. therefore be subject to high fluctuations in value. This Fund Provides access to this segment of the market with a single may not be appropriate for investors who plan to withdraw transaction. their money before the recommended holding period Optimised risk/return profile thanks to a broad diversification disclosed in the PRIIPs KID. All investments are subject to across a range of countries and sectors. market fluctuations. Every fund has specific risks, which can The fund offers a high degree of transparency and costsignificantly increase under unusual market conditions. efficiency. Sustainability characteristics and risks are considered as part UCITS compliant fund. of the Index selection process. As a result, the net asset value of the funds assets is directly dependent on the performance of the underlying index. Losses that could be avoided via active management will not be offset. Listing and trading information Exchange Trading currency Trading hours (local time) Bloomberg Ticker Reuters RIC iNAV Bloomberg Borsa ItalianaEUR09:00am - 05:30pm CET GENDED IMGENDED.MI GENDEUIV SIX Swiss ExchangeUSD09:00am - 05:30pm CET GENDED SWGENDED.S GENDUSIV SIX Swiss ExchangeCHF09:00am - 05:30pm CET GENDCHF SW GENDCHF.S Important information Past performance is not a guide to future performance. The value of investments and the income from them may go down as well as up and are not guaranteed. Investors may not get back the amount originally invested. Changes in rates of exchange may cause the value of this investment to fluctuate. The information contained in this document should not be considered a recommendation to purchase or sell any particular security and the opinions expressed are those of UBS Asset Management and are subject to change without notice. UBS funds make use of the Temporary Permissions Regime allowing EEA-domiciled funds to be distributed in the UK for a limited period until full authorisation is obtained. For reporting fund status, please visit the HMRC’s website. The protections offered by the UK’s regulatory system, and compensation under the Financial Services Compensation Scheme, will not be available. If you are in any doubt on the features of this product, or its appropriateness for your needs, please seek financial advice. Please refer to your financial adviser for more details. Investors should read the Key Information Document (KIID), Prospectus and any applicable local offering document prior to investing and to get complete information of the risks. Investors are acquiring units or shares in a fund, and not in a given underlying asset such as building or shares of a company. For a definition of financial terms refer to the glossary available at www.ubs.com/am-glossary. 2¦3 UBS ETF (IE) Global Gender Equality UCITS ETF (USD) A-dis For marketing and information purposes by UBS. UBS funds under Irish law. Arrangements for marketing fund units mentioned in this document may be terminated at the initiative of the management company of the fund(s). This communication is approved and communicated by UBS Asset Management (UK) Ltd, authorized & regulated by the Financial Conduct Authority and does not constitute investment advice. Prospectuses, key investor information documents (KIID), the articles of association or the management regulations as well as annual and semi-annual reports of UBS funds are available free of charge from UBS Asset Management (UK) Ltd, 5 Broadgate, London, EC2M 2QS. The fund documentation is available free of charge in English and, where relevant, in one of the local language(s) where the fund is registered and online at www.ubs.com/ etf. The product described herein aligns to Article 8 Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector. Information on sustainability-related aspects pursuant to that regulation can be found on www.ubs.com/funds. The benchmark is the intellectual property of the respective index provider. The fund or the share class is neither sponsored nor endorsed by the index provider. The fund prospectus or supplemental prospectus contains the full disclaimer. Before investing in a product please read the latest prospectus and key information document or similar legal documentation carefully and thoroughly. Any decision to invest should take into account all the characteristics or objectives of the product as described in its prospectus, or similar legal documentation. Investors are acquiring units or shares in a fund, and not in a given underlying asset such as building or shares of a company. The information and opinions contained in this document have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document. Members of the UBS Group may have a position in and may make a purchase and / or sale of any of the securities or other financial instruments mentioned in this document. Units of UBS funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors and may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The calculated performance takes all costs on the product level into consideration (ongoing costs). The entry and exit costs, which would have a negative impact on the performance, are not taken into consideration. If whole or part of the total costs to be paid is different from your reference currency, the costs may increase or decrease as a result of currency and exchange rate fluctuations. Commissions and costs have a negative impact on the investment and on the expected returns. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency and exchange rate fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. Future performance is subject to taxation which depends on the personal situation of each investor and which may change in the future. The details and opinions contained in this document are1682626|100010588 provided by UBS without any guarantee or warranty and are for the recipient's personal use and information purposes only. This document may not be reproduced, redistributed or republished for any purpose without the written permission of UBS Asset Management Switzerland AG or a local affiliated company. Source for all data and charts (if not indicated otherwise): UBS Asset Management. A summary of investor rights in English can be found online at www.ubs.com/funds-regulatoryinformation. More explanations of financial terms can be found at www.ubs.com/am-glossary. © UBS 2025. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. 3¦3 UBS ETF (IE) Global Gender Equality UCITS ETF ESG Report Terminology used within this document refers to definitions in the UBS Sustainable Investing Framework and does not refer or relate in any way to any regulatory provisions. Where applicable, a country-specific notice is provided in this document and must be read in conjunction with the factsheet. ESG is an abbreviation for Environmental, Social and Governance (factors). These factors are used to evaluate companies and countries on how advanced they are with respect to sustainability. Once sufficient data on these factors are available, they can be used to assess and compare assets and also to inform the investment process when deciding what assets to buy, hold or sell. This page provides transparency on key sustainability metrics that may be of interest to investors, but may not be part of the fund’s investment process. This information is provided to enable comparison with other financial products and to help investors assess their exposure to ESG topics.UBS AM sustainability approaches applied External fund ratings 1 Exclusion ESG IntegrationSI Focus Impact Voting Engagement program Source: UBS Asset Management 1 As of 31.01.2025 Source: MSCI ESG Research ESG details of the top 10 equity positionsMSCI ESG scores, scaled (in % of fund AuM)1,2 (holding-weighted average 0-10) Holding (equities) WeightESG Score Standard Chartered PLC DoorDash Inc 1.6 1.5 8.4 4.5 7.5 6.8 Fund Reference index Wells Fargo & Co 1.53.2 Citigroup Inc1.46.8 Environmental7.5 6.7 VF Corp 1.49.3 Social 5.0 5.1 JPMorgan Chase & Co 1.35.9 Meta Platforms Inc 1.22.0 Governance 6.4 5.7 Boston Scientific Corp 1.23.8 Fund actual data coverage: 99.9% Reference index actual data coverage: 99.9% Cummins Inc 1.2 10.0 Source: MSCI ESG Research Hilton Worldwide Holdings Inc1.26.3 Reference Index: MSCI World (net div. reinv.) 1 This is not a recommendation to buy or sell any security 2 AuM = Assets under Management Source: MSCI ESG ResearchWeighted average carbon intensity, scaled - Corporate issuers (tCO2 equivalent per USD million sales) 74.9 93.7 Fund Reference index Fund actual data coverage: 100.0% Reference index actual data coverage: 99.9% Source: MSCI ESG Research Reference Index: MSCI World (net div. reinv.) The reference index used on this page is the parent index which does not seek to include certain environmental or social characteristics promoted by the financial product in its construction and is different form the designated reference benchmark. ESG Report | 1:4 UBS ETF (IE) Global Gender Equality UCITS ETF ESG Report Controversy check MSCI ESG rating breakdown (in % of fund AuM)150% UN Global 0.00 40% Compact breach 0.05 30%Adult 0.00 entertainment 0.0020% 10%Thermal 0.00 coal mining 0.01 0% AAA AA A BBB BB BCCC notCash 0.00 rated Tobacco 0.66Leader Average LaggardControversial 0.00 Fund Reference index weapons 0.45 The final industry-adjusted ESG scores are mapped to letter MSCI ESG rating with AAA/AA leaders; A/BBB/BB average; B/CCC laggards.Fund Reference index Source: MSCI. Certain information © 2025 MSCI ESG Research LLC. Reproduced by 1 Assets under Management permission. Source: MSCI ESG Research Reference Index: MSCI World (net div. reinv.) Reference Index: MSCI World (net div. reinv.)Revenues aligning with UN Sustainable Development Goals - UN SDGs (in % of fund AuM)1,2,3 The negative effects of certain companies to UN SDGs are not shown but there is ongoing work to provide this information. UN SDG number / category UN SDG number / category 9.91 Industry, innovation and2.33 1 No poverty 9 6.21 infrastructure 8.041.16 0.22 2 Zero hunger 10 Reduced inequalities 0.760.17 Good health and well- 8.50 Sustainable cities and 3.43 311 being 5.32 communities 1.050.00 Responsible consumption 5.29 4 Quality education 120.02 and production 8.320.001.90 5 Gender equality13 Climate action0.02 1.38 Clean water and 3.190.30 614Life below water sanitation0.770.06 Affordable and clean 1.09 0.00 715 Life on land energy 0.81 0.01 Decent work and 0.22 FundReference index 8 economic growth 0.17 1 The difference between 100% and fund/reference index values results from companies whose products and services revenues contribute more than 0% to one or more SDGs. In some cases, the sum of all figures may exceed 100% Assets under Management, as products and services from companies count toward more than one SDG. Assessment data provided by MSCI ESG Research. 2 Assets under Management 3 UN SDG data currently only available for corporate issuers Source: MSCI ESG Research Reference Index: MSCI World (net div. reinv.) The reference index used on this page is the parent index which does not seek to include certain environmental or social characteristics promoted by the financial product in its construction and is different form the designated reference benchmark. ESG Report | 2:4 UBS ETF (IE) Global Gender Equality UCITS ETF ESG Report Country-specific notice: UK: If this product is distributed in the UK, please note: This product is based overseas and is not subject to the UK sustainable investment labelling and disclosure requirements (SDR). This product does not make any claims under the UK SDR. Terminology used within this document refers to definitions in the UBS Sustainable Investing Framework and does not refer or relate to the UK SDR in any way. Glossary Controversy check: Controversial Business InvolvementStewardship Policy. The prioritization process will determine if exposure is the exposure to companies with a revenue share and when engagement with a company is required. If a exceeding a certain threshold of the respective fieldcompany is selected for the engagement program, the (production). Link to our exclusion policy for more details: engagement dialog will be conducted for a minimum period -> www.ubs.com/si-exclusion-policy of two years.This is not an indication that sustainability- related engagement has taken place with respect to MSCI ESG scores are provided by MSCI ESG Research andcompanies in this portfolio during any given time period or are measured on a scale from 0 (lowest/worst score) to 10that the companies in this portfolio were chosen with the (highest/best score). The individual MSCI E-, S-, and G-scoregoal to actively engage (bottom-up transparency). indicates the resilience of issuers to environmental, social or Information on UBS Asset Management's selection of governance related risks that are most material to an industry. companies, engagement activities, prioritization process and The aggregated MSCI ESG score is based on these MSCI E-, understanding of concerns can be found in the UBS Asset S-, and G-scores but normalizes them relative to industryManagement Stewardship Annual Report and Stewardship peers. This leads to a weighted average industry-adjustedPolicy. Information shown in this report might also deviate MSCI ESG score which is comparable across industries.from other reports which might only focus on, for example, The metric is scaled up to 100% if actual data coverage is climate related activities. above the defined thresholds – fixed income: 50%, equities: 67%, multi-asset: 50%. Otherwise, the metric is reported as Aggregation of ESG/carbon data: ESG scores of holdings "-". in the portfolio and the reference index are aggregated based on their respective individual weights and ESG scores UBS AM sustainability approaches applied:(sumproduct). Exclusion: Strategies that exclude securities from funds where they are not aligned to an investor's values. Includes Fund of funds investments, derivatives and cash: customized screening criteria. Derivatives and fund of funds investments used in the ESG Integration: Strategies that integrate environmental,portfolio are treated on a lookthrough basis, whereby the social and governance (ESG) factors into fundamental economic exposures to the underlying basket of securities is financial analysis to improve the risk/return profile. treated as an actual investment in the individual securities SI Focus: Strategies where sustainability is an explicit part of that make up this basket. Broad market derivatives or fund of the investment guidelines, universe, selection and/orfunds investments may lead to minimal exposures to securities investment process. that are excluded from direct investments.Derivatives have an Impact: Strategies where the intention is to generateeffect on all metric calculations. Given that many of the measurable environmental and/or social benefits ("impact") reporting frameworks available to investors today do not alongside the financial return. cover the intricacies of derivatives, metrics are provided on a Voting: The voting flag is a principle-based product level reasonable efforts basis.Portfolios for which we report the classification (top down) and is based on the overallsustainability metrics may include cash.The information applicability of the UBS AM Policies. UBS will actively exercise disclosed in this report, in particular the treatment of voting rights based on the principles outlined in the UBSderivatives and cash, may or may not correspond with the Asset Management Proxy Voting policy and UBS Asset investment characteristics of the fund and how the fund is Management Stewardship policy, with two fundamental managed. The sustainability metrics in this report may objectives: (i) To act in the best financial interests of ourtherefore differ from other UBS reports produced on the same clients to enhance the long-term value of their investments, date. (ii) To promote best practice in the boardroom and encourage strong sustainability practices. This is not an indication that MSCI ESG Fund Ratings are designed to measure the voting on sustainability related topics has taken place with environmental, social and governance (ESG) characteristics of respect to companies held by a sub-fund during any given a fund's underlying holdings, making it possible to rank or time period. For information about voting activities withscreen mutual funds and ETFs on a AAA to CCC ratings scale. specific companies (bottom-up transparency) please refer to the UBS Asset Management Stewardship Annual Report. Weighted average carbon intensity – corporate issuers/ Information shown in this report might also deviate from carbon-intensive sovereign issuers:These metrics measure other reports which might only focus on, for example, climatea fund’s exposure to carbon-intensive companies and related activities. governments. These metrics provide an insight into potential Engagement program: The engagement program applies torisks related to the transition to a lower-carbon economy, UBS funds and aims to prioritize/select companies where UBS because companies with higher carbon intensity are likely to Asset Management has identified concerns or thematic topics face more exposure to carbon related market and regulatory on particular ESG factors. These companies are selected from risks. These metrics are applicable across asset classes. It is the across the universe of companies in which UBS Asset sumproduct of the fund weights and individual carbon Management invests using a top-down approach in intensities (carbon emissions scope 1+2 / USDm sales or GDP). accordance with our principles, as outlined in the GlobalThe metric is scaled up to 100% if actual data coverage is above the defined thresholds – fixed income, 50%; equities: The reference index used on this page is the parent index which does not seek to include certain environmental or social characteristics promoted by the financial product in its construction and is different form the designated reference benchmark. ESG Report | 3:4 UBS ETF (IE) Global Gender Equality UCITS ETF ESG Report 67%, multi-asset: 50%. Otherwise, the metric is reported as SDGs. These are measured and shown based on their revenue "-". Classification system to separate corporate and sovereign exposure to products and services with a positive impact that issuers: Bloomberg Barclays Methodology. Securitized bonds help solve the world's major social and environmental are excluded from the calculation. "No exposure" if the fundchallenges. Due to the nature of UN SDG 16 and 17, they are is not invested in the respective issuers for the month.currently not measured based on revenue alignment and hence not included in the illustration. MSCI ESG rating breakdown: The final sector-adjusted ESG score of the portfolio is broken down into three rating Passive ESG: Benchmark selection is driven by portfolio categories with AAA/AA leaders, A/BBB/BB average andimplementation considerations, in particular to closely reflect B/CCC laggards, and compared to the rating breakdown of the financial and ESG objectives of the fund. For passively the reference index.managed strategies, an ESG benchmark would be selected for the purpose of balancing between reasonable tracking Revenues aligning with the UN Sustainable error and high ESG alignment. In order to assess the Development Goals (UN SDGs): The 17 Sustainable magnitude of ESG improvements, the fund's ESG Development Goals (SDGs) are a call for action by all performance is also shown against a selected broad market countries to promote prosperity while protecting the planet.index which closely represents the parent investment universe We measure the fund versus its reference index against 15 UNon which the ESG benchmark is based. Important information about sustainable investing strategies Sustainable investing strategies aim to consider and incorporate environmental, social and governance (ESG) factors into investment process and fund construction. Strategies across geographies and styles approach ESG analysis and incorporate the findings in a variety of ways. Incorporating ESG factors or sustainable investing considerations may inhibit UBS’s ability to participate in or to advise on certain investment opportunities that otherwise would be consistent with the Client’s investment objectives. The returns on a fund consisting primarily of sustainable investments may be lower or higher than funds where ESG factors, exclusions, or other sustainability issues are not considered by UBS, and the investment instruments available to such funds may differ. Companies, product issuers and/or manufacturers may not necessarily meet high performance standards on all aspects of ESG or sustainable investing issues. Reconciliation of Assets under Management (AuM) This report does not contain reconciled AuM positions, it only takes in consideration positions with settlement date as of report date. This means that traded but not settled positions are not included. Therefore, AuM figures in this report may differ from other UBS reports produced on the same date. Although UBS Asset Management information providers, including without limitation, MSCI ESG Research LLC and its affiliates (the “ESG Parties”), obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the originality, accuracy and/or completeness of any data herein. None of the ESG Parties makes any express or implied warranties of any kind, and the ESG Parties hereby expressly disclaim all warranties of merchantability and fitness for a particular purpose, with respect to any data herein. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein. Further, without limiting any of the foregoing, in no event shall any of the ESG Parties have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. Certain information contained herein (the “Information”) is sourced from/copyright of MSCI ESG Research LLC (a Registered Investment Adviser under the Investment Advisers Act of 1940), or its affiliates (including MSCI Inc. and its subsidiaries (“MSCI”)), or third party suppliers (together with MSCI & MSCI ESG, the “ESG Parties”) and may have been used to calculate scores, ratings or other indicators. It may not be reproduced or redisseminated in whole or part without prior written permission. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product, trading strategy, or index, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between equity index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user assumes the entire risk of any use it may make or permit to be made of the Information. No ESG Party warrants or guarantees the originality, accuracy and/or completeness of the Information and each expressly disclaims all express or implied warranties. No ESG Party shall have any liability for any errors or omissions in connection with any Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. The reference index used on this page is the parent index which does not seek to include certain environmental or social characteristics promoted by the financial product in its construction and is different form the designated reference benchmark. ESG Report | 4:4 UBS ETF (IE) Global Gender Equality UCITS ETF (USD) A-dis UBS AM standard glossary. For additional investment terms, please refer to the online glossary here. standards. Accumulation: Reinvestment of income generated by the Equities: Securities that represent an equity interest in a investment fund into the fund's assets.company. As a joint owner, the shareholder has rights of Active management: Here the fund manager uses theirparticipation (voting right, right to information) and rights to expertise to pick investments to achieve the fund's objectives.assets (right to a share of profits, subscription rights). Alpha: A fund's alpha is its outperformance relative to a Exchange traded fund (ETF): An investment fund that is benchmark. If a fund has a consistently high alpha this cantraded like stocks on an exchange. Most ETFs are index funds: indicate skillful management. If the benchmark returns 12% they hold the same securities in the same proportions as a and the portfolio returns 14%, the outperformance (alpha) is certain index. equal to 14% - 12% = 2%. Compare with beta.Feeder fund: An investment fund that invests the majority of Benchmark: Index against which an investment fund'sits assets into a master fund. performance is measured. Also called a reference index.Hedging: Protecting investments against losses. UBS asset Beta: A measure of risk that indicates an investment's allocation funds and hedged UBS ETFs specifically hedge sensitivity to fluctuations in the market, as represented by the against exchange rate risks. relevant benchmark. For example, a beta of 1.2 tells us that High watermark: The high watermark is used in connection the value of an investment fund can be expected to change with the performance fee. The fund manager calculates his or by 12% if the market is forecast to move by 10%. her share of the profits on the basis of the value increment Bonds: Debt instruments with a fixed or variable rate of over and above the last peak in the NAV. As a result, the interest and generally with a fixed maturity and redemptionperformance fee does not become payable until all losses date. The most common issuers are major companies, incurred have been completely recovered. government bodies such as the federal government and the High yield bonds: Bonds issued by borrowers with lower cantons, public institutions, and international organizations credit ratings. Such bonds offer higher rates of interest, but at such as the World Bank or the International Monetary Fund. the same time there is also a higher risk of default, i.e. that Commodities: A tradeable item that can be further interest payments will not be paid or that the face value will processed and sold. Industrial (metals), agricultural (wool, not be repaid. wheat, sugar) and bulk commodities (coal, iron ore) areIlliquid: Illiquid assets are those assets that cannot be easily examples. It is possible to invest in physical commodities or in bought, sold, or converted into cash. It may often be derivatives based on commodity prices. impossible to convert the asset to cash until the end of the Convertible bonds: Bonds that feature a conversion right life of the asset. entitling the holder to convert the bond into shares of theIndex: Indicator of performance on one or more markets. company in question at a certain point in time and at a pre- The oldest and best-known stock market index is the Dow defined conversion ratio. Jones. Indexes make it possible to compare the performance Corporate bonds: Strictly speaking, corporate bonds areof a fund invested in a specific market with the development those issued by companies. Generally, however, the term is of that market. used to cover all bonds other than those issued by Index fund: An investment fund that replicates a chosen governments in their own currencies. Therefore the "credit"stock market index in its stock selection and weightings as sector, as it is often known, includes issues by companies,exactly as possible. supranational organizations and government agencies. The Inflation-linked bonds: An inflation-linked bond provides key feature that distinguishes corporate bonds frominvestors with protection from inflation by linking its principal government bonds is the risk of default – see credit risk. amount or interest payments to a specific inflation index. Correlation: A measure of the degree to which the priceInvestment grade: Term used to denote securities with trends of various investment categories or instruments moveratings of between BBB and AAA, indicating that their credit in the same direction. quality is satisfactory or good. Derivatives: Investments whose value is linked to another Leverage: With derivative instruments, greater returns can investment, to the performance of a stock exchange or to be earned with a comparatively lower capital investment than some other variable factor, such as interest rates.with an investment in the actual underlying instrument. This Distribution: Payment by an investment fund to distribute effect is called leverage. the income generated to its unit holders. Management style: Manner in which investment decisions Diversification: Holding a variety of investments that are made to achieve the investment objective (see also active typically perform differently from one another.management and passive management). Duration: The duration represents the length of time for Master fund: Funds invested in respective feeder funds that which capital is "tied up" in a bond investment. The concept are then invested into the master fund. The master fund of duration takes account of the time structure of returning holds the portfolio investments and conducts all trading cash flows (such as coupon repayments). The averageactivity. duration of the portfolio is derived from the weighted Maturity: Period from the issue of a bond to its due date or average duration of the individual securities. The "modified to the premature repayment of the bond. Not to be confused duration" is derived from the duration and provides a with duration. measure of the sensitivity of bonds or bond portfolios to Net asset value (NAV): Used to describe the value of a interest rate changes. company's assets less the value of their liabilities. Emerging economy or market: Emerging markets orØ – Average. developing markets – mainly in Asia, Eastern Europe, and Over the counter (OTC): An over-the-counter financial Latin America – that are growing quickly, but whosecontract is one that is not traded on an exchange but is economies and stock markets have not yet reached Western "tailor-made" for a client by a financial institution.Glossary 1 ¦ 2 UBS ETF (IE) Global Gender Equality UCITS ETF (USD) A-dis Passive management: Passive management seeks to attain vary from the mean of the distribution. The greater the performance equal to market or index returns. degree of dispersion the greater the risk. Performance fee: For non-classical investment funds such asSwing pricing: Method used to calculate the net asset values hedge funds, the investor must often pay, in addition to the of investment funds. This method allows transaction costs conventional management fee, a supplementary performance arising from subscriptions made by incoming investors and fee in the form of a percentage (e.g. 20%) of the fund's redemptions made by outgoing investors to be borne by the annual increase in value. incoming and outgoing investors, rather than existing Physical replication: In physical replication, an ETF invests investors. directly in securities held in the benchmark it is tracking. ToSynthetic replication: In contrast to physical replication, do so, the ETF can buy some or all of the securities that make synthetic replication means that an ETF does not invest up the replicated index – this method is called full replication directly in the securities held in the benchmark. Instead, it and is suitable for liquid indexes.enters into a swap agreement with a counterparty that Rating: The measure of a borrower's creditworthiness bypromises to pay the return on the replicated index to the ETF. special rating agencies such as Standard & Poor's or Moody's. Total expense ratio (TER): The ratio of total expense to a As a rule, UBS bond funds principally invest in bonds issued fund's average size over an annualized accounting period. by prime borrowers.Expenses are considered to include all expenses shown in the Reinvestment: The possibility of reinvesting the distribution income account, including management, administration, in the same fund. Certain funds offer investors a special custody, audit, legal and professional fees. reinvestment discount on the issuing price if the annual Tracking error: Measure of the deviation of a fund's return distribution is reinvested.compared to the return of a benchmark over a fixed period, Risk-free rate: An investment with no chance of default andexpressed as a percentage. The more passively the investment a known or certain rate of return. fund is managed, the smaller the tracking error. Share class: An investment fund can issue several types of UCITS: Undertakings for Collective Investment in Transferable share certificates with different criteria. The share certificate Securities. A UCITS fund is an authorized fund that may be classes may differ in the amount of fees, the appropriation of sold across all EU countries. income or the currency of the share certificate class. Volatility: A measure of the size of short-term changes in the Sharpe ratio: A measure that expresses how much higher (or value of an investment. lower) a return an investor can expect compared to the risk- Yield to maturity: Weighted average rate earned by an free rate of interest (e.g., interest rates on savings accounts) investor who buys the bond portfolio today at the market per unit of risk (volatility). The risk-free rate of interest varies price and holds the bond portfolio until maturity, also from currency to currency. assuming that all coupon and principal payments will be Standard deviation: Statistical measure of the degree to made on schedule. which an individual value in a probability distribution tends toGlossary 2 ¦ 2