3199.HK vs. VOOG

Last updated Jul 21, 2026

3199.HK (ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both exchange-traded funds - 3199.HK is a Emerging Markets Bonds fund tracking the FTSE Chinese Government and Policy Bank Bond, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, 3199.HK returned 2.98%/yr vs 17.41%/yr for VOOG. At a 0.07 correlation, their price movements are largely independent. 3199.HK charges 0.62%/yr vs 0.07%/yr for VOOG.

Performance

3199.HK vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3199.HK is traded in HKD, while VOOG is traded in USD. To make them comparable, the VOOG values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3199.HK achieves a 6.03% return, which is significantly lower than VOOG's 10.37% return. Over the past 10 years, 3199.HK has underperformed VOOG with an annualized return of 2.98%, while VOOG has yielded a comparatively higher 17.41% annualized return.

3199.HK

• 1D: -0.17%
• 1M: -0.08%
• 6M: 5.30%
• YTD: 6.03%
• 1Y: 7.27%
• 3Y*: 5.70%
• 5Y*: 2.93%
• 10Y*: 2.98%
• ALL TIME*: 2.75%

VOOG

• 1D: 0.30%
• 1M: -2.28%
• 6M: 9.62%
• YTD: 10.37%
• 1Y: 20.45%
• 3Y*: 24.45%
• 5Y*: 13.57%
• 10Y*: 17.41%
• ALL TIME*: 16.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

3199.HK vs. VOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF	6.03%	5.50%	3.23%	2.29%	-6.15%	7.24%	10.68%	0.52%	0.60%	6.18%
VOOG Vanguard S&P 500 Growth ETF	10.37%	22.35%	35.19%	29.94%	-29.36%	32.67%	32.75%	30.24%	0.01%	28.16%

Correlation

The correlation between 3199.HK and VOOG is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 19, 2014	0.07

Return for Risk

3199.HK vs. VOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

3199.HK

3199.HK Risk / Return Rank: 77
3199.HK Sharpe Ratio Rank: 66
3199.HK Sortino Ratio Rank: 72
3199.HK Omega Ratio Rank: 68
3199.HK Calmar Ratio Rank: 93
3199.HK Martin Ratio Rank: 88

VOOG

VOOG Risk / Return Rank: 42
VOOG Sharpe Ratio Rank: 44
VOOG Sortino Ratio Rank: 42
VOOG Omega Ratio Rank: 41
VOOG Calmar Ratio Rank: 38
VOOG Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

3199.HK vs. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and Vanguard S&P 500 Growth ETF (VOOG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	3199.HK	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.18	+0.41
Sortino ratio: Return per unit of downside risk	2.43	1.69	+0.75
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	4.94	1.58	+3.36
Martin ratio: Return relative to average drawdown	13.62	6.07	+7.55

3199.HK vs. VOOG - Sharpe Ratio Comparison

The current 3199.HK Sharpe Ratio is 1.59, which is higher than the VOOG Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of 3199.HK and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

3199.HK vs. VOOG - Drawdown Comparison

The maximum 3199.HK drawdown since its inception was -13.70%, smaller than the maximum VOOG drawdown of -32.29%. Use the drawdown chart below to compare losses from any high point for 3199.HK and VOOG.

Drawdown Indicators

	3199.HK	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-13.70%	-32.29%	+18.59%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-13.00%	+11.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.84%	-22.31%	+18.47%
Max Drawdown (5Y) Largest decline over 5 years	-11.05%	-32.29%	+21.24%
Max Drawdown (10Y) Largest decline over 10 years	-13.70%	-32.29%	+18.59%
Current Drawdown Current decline from peak	-0.37%	-4.71%	+4.34%
Average Drawdown Average peak-to-trough decline	-3.38%	-4.89%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	3.38%	-2.79%

Volatility

3199.HK vs. VOOG - Volatility Comparison

The current volatility for ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) is 1.36%, while Vanguard S&P 500 Growth ETF (VOOG) has a volatility of 5.65%. This indicates that 3199.HK experiences smaller price fluctuations and is considered to be less risky than VOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3199.HK	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	5.65%	-4.29%
Volatility (6M) Calculated over the trailing 6-month period	3.74%	14.37%	-10.63%
Volatility (1Y) Calculated over the trailing 1-year period	4.96%	17.42%	-12.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.41%	21.42%	-16.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.58%	20.79%	-14.21%

3199.HK vs. VOOG - Expense Ratio Comparison

3199.HK has a 0.62% expense ratio, which is higher than VOOG's 0.07% expense ratio.

Dividends

3199.HK vs. VOOG - Dividend Comparison

3199.HK's dividend yield for the trailing twelve months is around 2.50%, more than VOOG's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF	2.50%	3.34%	3.42%	3.51%	3.65%	3.40%	3.29%	3.57%	3.61%	3.39%	3.55%	3.68%
VOOG Vanguard S&P 500 Growth ETF	0.46%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both 3199.HK and VOOG in my portfolio?

3199.HK and VOOG have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 3199.HK or VOOG?

On fees, VOOG is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3199.HK or VOOG?

VOOG is cheaper with a 0.07% expense ratio, compared with 0.62% for 3199.HK.

What is the main difference between 3199.HK and VOOG?

3199.HK is categorized as Emerging Markets Bonds, while VOOG is S&P 500. 3199.HK tracks FTSE Chinese Government and Policy Bank Bond, while VOOG tracks S&P 500 Growth Index. They also come from different issuers: CSOP and Vanguard. Their fees differ too: 0.62% for 3199.HK and 0.07% for VOOG.