3328.HK vs. 1398.HK

Last updated Jun 5, 2026

3328.HK (Bank of Communications Co Ltd) and 1398.HK (Industrial and Commercial Bank of China) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, 3328.HK returned 16.78%/yr vs 12.31%/yr for 1398.HK. A 0.78 correlation means they provide meaningful diversification when combined.

Performance

3328.HK vs. 1398.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in Bank of Communications Co Ltd (3328.HK) and Industrial and Commercial Bank of China (1398.HK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3328.HK achieves a 14.26% return, which is significantly higher than 1398.HK's 9.86% return. Over the past 10 years, 3328.HK has outperformed 1398.HK with an annualized return of 16.78%, while 1398.HK has yielded a comparatively lower 12.31% annualized return.

3328.HK

• 1D: -0.67%
• 1M: 1.80%
• YTD: 14.26%
• 6M: 5.07%
• 1Y: 7.01%
• 3Y*: 22.29%
• 5Y*: 15.86%
• 10Y*: 16.78%

1398.HK

• 1D: 0.00%
• 1M: -3.31%
• YTD: 9.86%
• 6M: 9.17%
• 1Y: 23.60%
• 3Y*: 27.25%
• 5Y*: 15.02%
• 10Y*: 12.31%

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

3328.HK vs. 1398.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3328.HK Bank of Communications Co Ltd	14.26%	10.58%	40.53%	17.69%	3.26%	23.91%	-20.60%	-4.33%	75.76%	9.14%
1398.HK Industrial and Commercial Bank of China	9.86%	31.32%	46.88%	3.30%	-1.37%	-6.57%	-11.24%	12.71%	-6.42%	42.50%

Correlation

The correlation between 3328.HK and 1398.HK is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 31, 2006	0.78

The correlation between 3328.HK and 1398.HK has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

3328.HK vs. 1398.HK — Risk / Return Rank

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

3328.HK

3328.HK Risk / Return Rank: 53
3328.HK Sharpe Ratio Rank: 58
3328.HK Sortino Ratio Rank: 49
3328.HK Omega Ratio Rank: 48
3328.HK Calmar Ratio Rank: 54
3328.HK Martin Ratio Rank: 53

1398.HK

1398.HK Risk / Return Rank: 77
1398.HK Sharpe Ratio Rank: 80
1398.HK Sortino Ratio Rank: 75
1398.HK Omega Ratio Rank: 71
1398.HK Calmar Ratio Rank: 78
1398.HK Martin Ratio Rank: 80

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.

3328.HK vs. 1398.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bank of Communications Co Ltd (3328.HK) and Industrial and Commercial Bank of China (1398.HK). 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.

	3328.HK	1398.HK	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.39	-0.91
Sortino ratio: Return per unit of downside risk	0.78	1.97	-1.19
Omega ratio: Gain probability vs. loss probability	1.09	1.24	-0.14
Calmar ratio: Return relative to maximum drawdown	0.56	2.43	-1.88
Martin ratio: Return relative to average drawdown	1.10	6.38	-5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3328.HK vs. 1398.HK - Sharpe Ratio Comparison

The current 3328.HK Sharpe Ratio is 0.48, which is lower than the 1398.HK Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of 3328.HK and 1398.HK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	3328.HK	1398.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	1.39	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.75	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.59	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.33	+0.08

Drawdowns

3328.HK vs. 1398.HK - Drawdown Comparison

The maximum 3328.HK drawdown since its inception was -75.23%, which is greater than 1398.HK's maximum drawdown of -61.33%. Use the drawdown chart below to compare losses from any high point for 3328.HK and 1398.HK.

Drawdown Indicators

	3328.HK	1398.HK	Difference
Max Drawdown Largest peak-to-trough decline	-75.23%	-61.33%	-13.90%
Max Drawdown (1Y) Largest decline over 1 year	-15.44%	-10.69%	-4.75%
Max Drawdown (3Y) Largest decline over 3 years	-18.28%	-15.84%	-2.44%
Max Drawdown (5Y) Largest decline over 5 years	-27.35%	-25.77%	-1.58%
Max Drawdown (10Y) Largest decline over 10 years	-39.95%	-38.50%	-1.45%
Current Drawdown Current decline from peak	-1.86%	-4.82%	+2.96%
Average Drawdown Average peak-to-trough decline	-25.77%	-18.10%	-7.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.74%	4.03%	+3.71%

Volatility

3328.HK vs. 1398.HK - Volatility Comparison

The current volatility for Bank of Communications Co Ltd (3328.HK) is 4.86%, while Industrial and Commercial Bank of China (1398.HK) has a volatility of 5.17%. This indicates that 3328.HK experiences smaller price fluctuations and is considered to be less risky than 1398.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3328.HK	1398.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	5.17%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	13.75%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	17.77%	18.68%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.70%	20.51%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.75%	21.57%	+6.18%

Dividends

3328.HK vs. 1398.HK - Dividend Comparison

3328.HK's dividend yield for the trailing twelve months is around 2.35%, less than 1398.HK's 7.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
1398.HK Industrial and Commercial Bank of China	7.88%	7.81%	6.44%	8.62%	8.54%	7.27%	5.71%	4.75%	5.19%	4.25%	5.92%	6.92%
3328.HK Bank of Communications Co Ltd	2.35%	9.04%	6.36%	8.37%	9.27%	8.08%	8.41%	6.15%	42.31%	5.37%	5.57%	6.27%

Financials

Frequently Asked Questions

Can I hold both 3328.HK and 1398.HK in my portfolio?

3328.HK and 1398.HK have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.