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FAGB.L vs. HKOD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FAGB.L vs. HKOD.L

Last updated Jul 16, 2026
Documentation

FAGB.L (Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - FAGB.L tracks the Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 5 years, FAGB.L returned 1.50%/yr vs 15.49%/yr for HKOD.L. At a 0.37 correlation, their price movements are largely independent.

Performance

FAGB.L vs. HKOD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) and HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FAGB.L is traded in GBp, while HKOD.L is traded in USD. To make them comparable, the HKOD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FAGB.L achieves a 1.09% return, which is significantly lower than HKOD.L's 72.55% return.

FAGB.L

1D
-0.15%
1M
-0.37%
6M
0.51%
YTD
1.09%
1Y
5.68%
3Y*
6.70%
5Y*
1.50%
10Y*
—

HKOD.L

1D
0.00%
1M
-19.96%
6M
54.32%
YTD
72.55%
1Y
140.31%
3Y*
37.06%
5Y*
15.49%
10Y*
14.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FAGB.L vs. HKOD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FAGB.L
Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)		1.09%9.31%4.50%9.02%-15.12%5.18%6.43%10.50%-7.23%0.20%
HKOD.L
HSBC MSCI KOREA CAPPED UCITS ETF		72.55%85.32%-21.55%13.96%-19.93%-7.62%40.82%6.43%-16.38%4.10%

Correlation

The correlation between FAGB.L and HKOD.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2017

0.37

Compare stocks, funds, or ETFs

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Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)

HSBC MSCI KOREA CAPPED UCITS ETF

Return for Risk

FAGB.L vs. HKOD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FAGB.L
FAGB.L Risk / Return Rank: 3838
Overall Rank
FAGB.L Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
FAGB.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
FAGB.L Omega Ratio Rank: 4242
Omega Ratio Rank
FAGB.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
FAGB.L Martin Ratio Rank: 3636
Martin Ratio Rank
HKOD.L
HKOD.L Risk / Return Rank: 9292
Overall Rank
HKOD.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
HKOD.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
HKOD.L Omega Ratio Rank: 9090
Omega Ratio Rank
HKOD.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
HKOD.L Martin Ratio Rank: 9292
Martin Ratio Rank
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.

FAGB.L vs. HKOD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) and HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L). 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.

FAGB.LHKOD.LDifference
Sharpe ratioReturn per unit of total volatility
1.20
3.20

-2.00

Sortino ratioReturn per unit of downside risk
1.84
3.31

-1.47

Omega ratioGain probability vs. loss probability

1.23

1.47

-0.24

Calmar ratioReturn relative to maximum drawdown

1.17

5.73

-4.56

Martin ratioReturn relative to average drawdown

4.35

18.17

-13.82

FAGB.L vs. HKOD.L - Sharpe Ratio Comparison

The current FAGB.L Sharpe Ratio is 1.20, which is lower than the HKOD.L Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of FAGB.L and HKOD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FAGB.L vs. HKOD.L - Drawdown Comparison

The maximum FAGB.L drawdown since its inception was -30.30%, smaller than the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for FAGB.L and HKOD.L.

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Drawdown Indicators

FAGB.LHKOD.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.30%

-44.38%

+14.08%

Max Drawdown (1Y)

Largest decline over 1 year

-4.75%

-24.53%

+19.78%

Max Drawdown (3Y)

Largest decline over 3 years

-5.31%

-29.12%

+23.81%

Max Drawdown (5Y)

Largest decline over 5 years

-18.92%

-39.67%

+20.75%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.38%

—

Current Drawdown

Current decline from peak

-0.62%

-24.53%

+23.91%

Average Drawdown

Average peak-to-trough decline

-5.39%

-15.51%

+10.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.29%

7.76%

-6.47%

Volatility

FAGB.L vs. HKOD.L - Volatility Comparison

The current volatility for Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg) (FAGB.L) is 1.19%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.24%. This indicates that FAGB.L experiences smaller price fluctuations and is considered to be less risky than HKOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FAGB.LHKOD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.19%

20.24%

-19.05%

Volatility (6M)

Calculated over the trailing 6-month period

3.84%

40.06%

-36.22%

Volatility (1Y)

Calculated over the trailing 1-year period

4.65%

43.91%

-39.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.13%

28.07%

-20.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.53%

25.99%

-17.46%

Dividends

FAGB.L vs. HKOD.L - Dividend Comparison

FAGB.L has not paid dividends to shareholders, while HKOD.L's dividend yield for the trailing twelve months is around 0.43%.

PositionTTM202520242023202220212020201920182017
FAGB.L
Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg)		0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.00%0.00%
HKOD.L
HSBC MSCI KOREA CAPPED UCITS ETF		0.43%0.68%1.54%1.08%0.72%0.61%0.02%0.29%0.56%0.10%

Frequently Asked Questions

FAGB.L and HKOD.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FAGB.L tracks Invesco US High Yield Fallen Angels UCITS ETF (GBP Hdg), while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: Invesco and HSBC.

Portfolio Optimizer

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