Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
0857.HK PetroChina Co Ltd Class H | Energy | 10% |
0883.HK CNOOC Ltd | Energy | 50% |
0939.HK China Construction Bank Corp | Financial Services | 25% |
1816.HK CGN Power | Utilities | 10% |
3968.HK China Merchants Bank Co Ltd Class H | Financial Services | 5% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Hong Kong , comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.
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The earliest data available for this chart is Dec 10, 2014, corresponding to the inception date of 1816.HK
Returns By Period
As of Apr 2, 2026, the Hong Kong returned 20.22% Year-To-Date and 17.87% of annualized return in the last 10 years.
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.11% | -3.43% | -3.84% | -1.98% | 16.08% | 16.86% | 10.37% | 12.29% |
Portfolio Hong Kong | 0.67% | 1.83% | 20.22% | 32.55% | 48.37% | 38.25% | 30.79% | 17.87% |
| Portfolio components: | ||||||||
0883.HK CNOOC Ltd | 0.25% | -2.49% | 25.99% | 41.77% | 53.15% | 42.78% | 39.96% | 20.32% |
0939.HK China Construction Bank Corp | 0.50% | 5.87% | 9.13% | 16.33% | 28.42% | 29.15% | 13.97% | 12.87% |
0857.HK PetroChina Co Ltd Class H | 2.11% | 2.85% | 27.64% | 48.57% | 79.94% | 42.08% | 41.53% | 13.75% |
1816.HK CGN Power | 1.46% | 12.01% | 19.31% | 20.14% | 45.60% | 28.07% | 18.72% | 7.15% |
3968.HK China Merchants Bank Co Ltd Class H | 1.20% | 2.62% | -4.39% | 8.62% | 16.11% | 14.05% | 0.67% | 16.59% |
Monthly Returns
Based on dividend-adjusted daily data since Dec 11, 2014, Hong Kong 's average daily return is +0.07%, while the average monthly return is +1.30%. At this rate, your investment would double in approximately 4.5 years.
Historically, 56% of months were positive and 44% were negative. The best month was Apr 2015 with a return of +20.1%, while the worst month was Jul 2015 at -12.3%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, Hong Kong closed higher 53% of trading days. The best single day was Oct 7, 2015 with a return of +9.6%, while the worst single day was Apr 7, 2025 at -12.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.34% | 2.10% | 9.26% | -1.44% | 20.22% | ||||||||
| 2025 | -2.83% | -0.64% | 3.78% | -6.25% | 8.06% | 5.61% | 6.06% | 0.10% | 0.22% | 4.99% | 5.89% | -1.16% | 25.32% |
| 2024 | 7.35% | 8.99% | 6.41% | 11.00% | 5.88% | 8.74% | -5.95% | 3.25% | -1.05% | -4.17% | -5.50% | 11.62% | 54.54% |
| 2023 | 9.81% | -4.55% | 6.51% | 8.04% | -6.23% | 2.08% | 7.37% | 0.31% | 6.89% | -6.31% | 1.77% | 1.44% | 28.54% |
| 2022 | 11.43% | 3.84% | 3.16% | -0.24% | 7.47% | -6.06% | -4.56% | 2.80% | -6.43% | -5.11% | 13.99% | 0.34% | 19.78% |
| 2021 | 3.89% | 14.25% | -4.70% | -0.88% | 4.21% | 4.94% | -9.96% | 2.53% | 12.53% | -2.61% | -7.86% | 5.33% | 20.40% |
Benchmark Metrics
Hong Kong has an annualized alpha of 13.07%, beta of 0.25, and R² of 0.03 versus S&P 500 Index. Calculated based on daily prices since December 11, 2014.
- This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (68.97%) than losses (54.28%) — typical of diversified or defensive assets.
- Beta of 0.25 may look defensive, but with R² of 0.03 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
- R² of 0.03 means this portfolio moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 13.07%
- Beta
- 0.25
- R²
- 0.03
- Upside Capture
- 68.97%
- Downside Capture
- 54.28%
Expense Ratio
Hong Kong has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.
Return for Risk
Risk / Return Rank
Hong Kong ranks 85 for risk / return — in the top 85% of portfolios on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.15 | 0.88 | +1.27 |
Sortino ratioReturn per unit of downside risk | 2.50 | 1.37 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.21 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 3.49 | 1.39 | +2.10 |
Martin ratioReturn relative to average drawdown | 11.75 | 6.43 | +5.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.
| Risk / Return Rank | Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|---|
0883.HK CNOOC Ltd | 84 | 1.78 | 2.20 | 1.34 | 3.11 | 9.52 |
0939.HK China Construction Bank Corp | 75 | 1.29 | 1.74 | 1.24 | 2.19 | 5.08 |
0857.HK PetroChina Co Ltd Class H | 93 | 2.76 | 2.95 | 1.50 | 4.73 | 16.37 |
1816.HK CGN Power | 84 | 1.72 | 2.40 | 1.30 | 3.48 | 8.17 |
3968.HK China Merchants Bank Co Ltd Class H | 56 | 0.69 | 1.06 | 1.14 | 0.55 | 1.18 |
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Dividends
Dividend yield
Hong Kong provided a 4.94% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 4.94% | 6.51% | 6.79% | 9.16% | 13.30% | 6.52% | 7.52% | 4.93% | 4.58% | 3.56% | 3.81% | 5.96% |
| Portfolio components: | ||||||||||||
0883.HK CNOOC Ltd | 5.14% | 6.53% | 7.32% | 10.31% | 18.84% | 6.85% | 9.05% | 5.63% | 4.96% | 3.83% | 3.81% | 7.06% |
0939.HK China Construction Bank Corp | 5.05% | 8.32% | 6.77% | 9.08% | 8.71% | 7.24% | 5.94% | 5.19% | 5.34% | 4.44% | 5.41% | 7.18% |
0857.HK PetroChina Co Ltd Class H | 4.77% | 6.13% | 8.07% | 9.14% | 9.71% | 7.57% | 8.80% | 2.78% | 1.42% | 1.24% | 0.94% | 3.89% |
1816.HK CGN Power | 2.93% | 3.52% | 3.62% | 4.74% | 5.31% | 4.08% | 4.97% | 4.05% | 4.48% | 2.73% | 2.34% | 0.11% |
3968.HK China Merchants Bank Co Ltd Class H | 6.66% | 4.15% | 5.41% | 6.95% | 4.09% | 2.48% | 2.68% | 2.67% | 3.53% | 2.70% | 4.46% | 4.64% |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Hong Kong . A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Hong Kong was 47.62%, occurring on Jan 21, 2016. Recovery took 491 trading sessions.
The current Hong Kong drawdown is 5.28%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -47.62% | Apr 17, 2015 | 191 | Jan 21, 2016 | 491 | Jan 16, 2018 | 682 |
| -39.63% | Apr 10, 2019 | 234 | Mar 19, 2020 | 468 | Feb 11, 2022 | 702 |
| -20.54% | Oct 8, 2024 | 122 | Apr 7, 2025 | 63 | Jul 10, 2025 | 185 |
| -19.39% | Oct 2, 2018 | 63 | Jan 2, 2019 | 64 | Apr 8, 2019 | 127 |
| -18.17% | Jun 1, 2022 | 105 | Oct 31, 2022 | 54 | Jan 18, 2023 | 159 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
Diversification Metrics
Number of Effective Assets
The portfolio contains 5 assets, with an effective number of assets of 2.99, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.
Asset Correlations Table
| Benchmark | 1816.HK | 3968.HK | 0939.HK | 0857.HK | 0883.HK | Portfolio | |
|---|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.07 | 0.14 | 0.15 | 0.10 | 0.11 | 0.14 |
| 1816.HK | 0.07 | 1.00 | 0.37 | 0.36 | 0.37 | 0.33 | 0.48 |
| 3968.HK | 0.14 | 0.37 | 1.00 | 0.69 | 0.45 | 0.42 | 0.61 |
| 0939.HK | 0.15 | 0.36 | 0.69 | 1.00 | 0.51 | 0.47 | 0.69 |
| 0857.HK | 0.10 | 0.37 | 0.45 | 0.51 | 1.00 | 0.75 | 0.82 |
| 0883.HK | 0.11 | 0.33 | 0.42 | 0.47 | 0.75 | 1.00 | 0.93 |
| Portfolio | 0.14 | 0.48 | 0.61 | 0.69 | 0.82 | 0.93 | 1.00 |