FML.AX vs. 3191.HK

Last updated Jun 5, 2026

FML.AX (Focus Minerals Limited) is a stock, while 3191.HK (Global X China Semiconductor ETF) is China Equities fund tracking the Factset China Semiconductor Index. Over the past 5 years, FML.AX returned 46.62%/yr vs 11.72%/yr for 3191.HK. At a 0.07 correlation, their price movements are largely independent.

Performance

FML.AX vs. 3191.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Focus Minerals Limited (FML.AX) and Global X China Semiconductor ETF (3191.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FML.AX is traded in AUD, while 3191.HK is traded in HKD. To make them comparable, the 3191.HK values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FML.AX achieves a -35.99% return, which is significantly lower than 3191.HK's 48.55% return.

FML.AX

• 1D: -0.76%
• 1M: -12.67%
• YTD: -35.99%
• 6M: -33.84%
• 1Y: 391.25%
• 3Y*: 119.82%
• 5Y*: 46.62%
• 10Y*: 15.88%

3191.HK

• 1D: 1.65%
• 1M: 25.13%
• YTD: 48.55%
• 6M: 53.33%
• 1Y: 111.24%
• 3Y*: 28.01%
• 5Y*: 11.72%
• 10Y*: —

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

FML.AX vs. 3191.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FML.AX Focus Minerals Limited	-35.99%	1,705.88%	-8.11%	-27.45%	-34.62%	14.71%	-28.42%
3191.HK Global X China Semiconductor ETF	48.55%	30.61%	22.95%	-6.48%	-35.34%	25.60%	-8.54%

Correlation

The correlation between FML.AX and 3191.HK is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Aug 10, 2020	0.07

Return for Risk

FML.AX vs. 3191.HK — Risk / Return Rank

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

FML.AX

FML.AX Risk / Return Rank: 95
FML.AX Sharpe Ratio Rank: 98
FML.AX Sortino Ratio Rank: 96
FML.AX Omega Ratio Rank: 93
FML.AX Calmar Ratio Rank: 94
FML.AX Martin Ratio Rank: 93

3191.HK

3191.HK Risk / Return Rank: 88
3191.HK Sharpe Ratio Rank: 94
3191.HK Sortino Ratio Rank: 87
3191.HK Omega Ratio Rank: 83
3191.HK Calmar Ratio Rank: 92
3191.HK Martin Ratio Rank: 82

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.

FML.AX vs. 3191.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Focus Minerals Limited (FML.AX) and Global X China Semiconductor ETF (3191.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.

	FML.AX	3191.HK	Difference
Sharpe ratio: Return per unit of total volatility	4.26	3.08	+1.18
Sortino ratio: Return per unit of downside risk	4.31	3.54	+0.77
Omega ratio: Gain probability vs. loss probability	1.49	1.46	+0.03
Calmar ratio: Return relative to maximum drawdown	6.69	5.25	+1.44
Martin ratio: Return relative to average drawdown	15.77	12.87	+2.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FML.AX vs. 3191.HK - Sharpe Ratio Comparison

The current FML.AX Sharpe Ratio is 4.26, which is higher than the 3191.HK Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of FML.AX and 3191.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

	FML.AX	3191.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.26	3.08	+1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.31	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.24	-0.31

Drawdowns

FML.AX vs. 3191.HK - Drawdown Comparison

The maximum FML.AX drawdown since its inception was -99.12%, which is greater than 3191.HK's maximum drawdown of -60.08%. Use the drawdown chart below to compare losses from any high point for FML.AX and 3191.HK.

Drawdown Indicators

	FML.AX	3191.HK	Difference
Max Drawdown Largest peak-to-trough decline	-99.12%	-60.08%	-39.04%
Max Drawdown (1Y) Largest decline over 1 year	-57.56%	-21.92%	-35.64%
Max Drawdown (3Y) Largest decline over 3 years	-57.56%	-35.97%	-21.59%
Max Drawdown (5Y) Largest decline over 5 years	-70.51%	-60.08%	-10.43%
Max Drawdown (10Y) Largest decline over 10 years	-83.80%	—	—
Current Drawdown Current decline from peak	-84.88%	-4.86%	-80.02%
Average Drawdown Average peak-to-trough decline	-83.32%	-29.99%	-53.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.48%	8.84%	+15.64%

Volatility

FML.AX vs. 3191.HK - Volatility Comparison

Focus Minerals Limited (FML.AX) has a higher volatility of 17.17% compared to Global X China Semiconductor ETF (3191.HK) at 16.09%. This indicates that FML.AX's price experiences larger fluctuations and is considered to be riskier than 3191.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FML.AX	3191.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.17%	16.09%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	50.45%	27.91%	+22.54%
Volatility (1Y) Calculated over the trailing 1-year period	90.34%	37.37%	+52.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.69%	39.57%	+47.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.45%	38.93%	+37.52%

Dividends

FML.AX vs. 3191.HK - Dividend Comparison

Neither FML.AX nor 3191.HK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FML.AX and 3191.HK in my portfolio?

FML.AX and 3191.HK have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.