A
UV sterilizer will kill all living organisms in the water column IF it has enough time to work. You need to size the pump to the
UV used. If you use separate pumps for water circulation through your system and your
UV, and you properly size the pump to to give the correct water flow through the
UV, then the
UV will help keep algae, parasites, bacteria, etc in check.
If the
UV sterilizers has too much water flowing through it not much of anything will happen other than the waste of electricity used for turning it on.
Some people swear by them, some at them. I would suggest reading
UV Sterilizers and Their Use in Aquaria in the Articles section of this forum.