Karachi: The UBL Pakistan Enterprise Exchange Traded Fund (UBLP-ETF) reported its performance metrics for October 2026, revealing a moderate recovery in its fund size and a slight underperformance compared to its benchmark. The report, dated November 12, 2026, sheds light on the fund's strategy to track the benchmark index with the goal of providing long-term capital appreciation and dividend yields.
In October, the UBLP-ETF saw a decrease of 1.99% in its net asset value (NAV), closing at PKR 27.7867, while the benchmark recorded a slightly larger drop of 2.05%. This places the fund's monthly performance in a "moderate move" category. However, the fund size increased from PKR 792 million in September to PKR 799 million in October, reflecting a 0.92% growth, which is classified as a minor move.
According to information available from the Pakistan Stock Exchange (PSX), the fund's categorization as an Exchange Traded Fund (ETF) demands a high-risk profile, with equities occupying 93.62% of total assets in October. The fund's top holdings include shares in leading companies such as Fauji Fertilizer Company Limited, United Bank Limited, and Meezan Bank Limited, among others. Commercial banks constitute the largest sector allocation at 35.37%, followed by the fertilizer sector at 21.94%.
The report highlights a significant cumulative growth since inception, with UBLP-ETF achieving a return of 447.28% compared to the benchmark's 521.03%. The tracking difference since inception stands at -73.75%.
For the fiscal year to date, the UBLP-ETF posted a 4.83% return, trailing behind the benchmark's 6.52%. The fund's standard deviation, a measure of volatility, is recorded at 28.93%, with a Sharpe Ratio of 0.09, indicating a relatively low return per unit of risk compared to the benchmark's 29.31% and 0.00, respectively.
Managed by Muhammad Saad Imran, an equity specialist, the UBLP-ETF operates under the Central Depository Company Pakistan Limited as trustee, with BDO Ebrahim & Co. serving as auditors. The fund is listed on the Pakistan Stock Exchange, with an open-end structure and a backward pricing mechanism, allowing for flexibility in investment and redemption.
The report underscores the fund's commitment to delivering substantial returns over the long term, despite short-term market fluctuations and tracking challenges.