Did a back of an envelope computation, it doesn’t make economic sense to do the switch. Unless there are reasons to believe the gap will widen (it’s about 0.01% TER and 0.01% tax now).
UBS was just more expensive back when I started, so ishares was a natural choice. Also, I have some bias against a company that is so expensive for retail (banking) clients. Not mustachian.
Looks like UBS has been listening to you.
They are reducing fees everywhere
As of now , my banking relationship with UBS is costing me ZERO. Just a caveat I use Certo one CC, so I don’t have a UBS credit card.
Is that a new change? Or that’s just with Key4?
Yeah because I am on KEY4 PURE after switching away from UBS ME.
What is the advantage of key4 pure and what do you pay?
I pay 13/m for the basic package with two credit cards (I dont even need two..). A bit much, but at this point the effort to switch to a different bank is just not worth it.
UBS KEY4 PURE is free banking package. It comes with normal services (savings account CHF, personal account CHF, 3a account, TWINT, e-banking, pre-paid card & debit card)
If you need credit card - then there is another package. Since I don’t use credit card anymore from UBS, I switched from UBS ME package to UBS KEY4 PURE.
In practical terms this change meant I stop paying any fees and I don’t have CC anymore. Nothing else
Yeah personally I don’t see the point of getting a credit card from your bank, makes it harder to switch and it’s usually more expensive/less benefits.
I’m seeing SPICHA on IBKR exchange but it is listed as an Action and not an ETF ? Is it because the ETF is based in Swiss ? Does it have any impact or can I buy it there ?
IB does not treat ETFs differently than stocks. What you see is expected for any ETF.
Hey guys,
Sorry to revive this old thread, but could someone confirm my understanding of UBS ETFs fees.
Deposit:
Swiss ETFs - 1.2% or minimum 80.- + stamp duty 0.075%
Outside of Switzerland ETFs (sp500, msci europe etc) - 1.9% or minimum 120.- + stamp duty 0.15%
Are there any withdrawal and custoday fees? Are the above fees for any transaction, whether deposit or withdrawal? If so, those %s add up very quickly after many years of compounding.
The TER fees are within reason (0.03% to 0.06% in the accumulation unhedged ETFs I’ve found), but just the deposit fees alone really make it very unappealing still.
I’m thinking of just transferring to IBKR and do the very simple VT strategy. What would be the best way? Withdraw the UBS ETF and just open an IBKR account and put it there? Or is there a cheaper / simpler way?
Cheers.
EDIT: It was correctly pointed out to me I was conflating the UBS brokerage and UBS ETFs. In my head I had it correctly, but didn’t word it correctly. I won’t correct it, otherwise the other people’s post won’t make sense, but my post was indeed mostly about the brokerage and not ETFs itself.
Transaction and custody fees for UBS broker customers have nothing to do with UBS ETFs - and this topic was mainly about UBS ETFs, not UBS the brokerage. You can buy and hold UBS ETFs (some of which have excellent fees) at virtually any broker. And you can have virtually any ETF at the UBS brokerage. However, UBS broker fees are excessive.
The UBS custody fee is 0.35% p.a. for retail customers. This alone is already enough reason for most people to look for a different broker.
Their latest and maybe cheapest offer (for retail customers) is UBS key4 trading where especially the minimum transaction fees are a bit more reasonable but you still pay 0.35% p.a. for custody and 0.75% for each transaction is still very high: https://www.ubs.com/ch/en/help/key4/trading.html