FRQX.L vs. HKOR.L

Last updated Apr 3, 2026

Compare and contrast key facts about Franklin AC Asia ex Japan UCITS ETF (FRQX.L) and HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L).

FRQX.L and HKOR.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRQX.L is a passively managed fund by Franklin Templeton that tracks the performance of the MSCI AC Asia Ex Japan NR USD. It was launched on Sep 27, 2018. HKOR.L is a passively managed fund by HSBC that tracks the performance of the MSCI Korea NR USD. It was launched on Apr 6, 2011. Both FRQX.L and HKOR.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FRQX.L vs. HKOR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin AC Asia ex Japan UCITS ETF (FRQX.L) and HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L). The values are adjusted to include any dividend payments, if applicable.

FRQX.L vs. HKOR.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FRQX.L Franklin AC Asia ex Japan UCITS ETF	8.71%	21.13%	9.39%	5.79%	-2.53%	5.94%	3.15%	6.30%	-4.69%
HKOR.L HSBC MSCI Korea Capped UCITS ETF USD	27.82%	86.42%	-21.81%	13.46%	-19.95%	-7.35%	40.21%	7.12%	-10.46%

Different Trading Currencies

FRQX.L is traded in GBP, while HKOR.L is traded in GBp. To make them comparable, the HKOR.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FRQX.L achieves a 8.71% return, which is significantly lower than HKOR.L's 27.82% return.

FRQX.L

• 1D: -1.69%
• 1M: -6.91%
• YTD: 8.71%
• 6M: 16.61%
• 1Y: 40.61%
• 3Y*: 14.51%
• 5Y*: 8.51%
• 10Y*: —

HKOR.L

• 1D: -3.63%
• 1M: -6.32%
• YTD: 27.82%
• 6M: 55.06%
• 1Y: 129.58%
• 3Y*: 26.79%
• 5Y*: 8.90%
• 10Y*: 12.35%

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

FRQX.L vs. HKOR.L - Expense Ratio Comparison

FRQX.L has a 0.40% expense ratio, which is lower than HKOR.L's 0.50% expense ratio.

HKOR.L

HSBC MSCI Korea Capped UCITS ETF USD

FRQX.L

Franklin AC Asia ex Japan UCITS ETF

Return for Risk

FRQX.L vs. HKOR.L — Risk / Return Rank

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

FRQX.L

FRQX.L Risk / Return Rank: 91
FRQX.L Sharpe Ratio Rank: 91
FRQX.L Sortino Ratio Rank: 93
FRQX.L Omega Ratio Rank: 89
FRQX.L Calmar Ratio Rank: 89
FRQX.L Martin Ratio Rank: 91

HKOR.L

HKOR.L Risk / Return Rank: 98
HKOR.L Sharpe Ratio Rank: 98
HKOR.L Sortino Ratio Rank: 98
HKOR.L Omega Ratio Rank: 97
HKOR.L Calmar Ratio Rank: 98
HKOR.L Martin Ratio Rank: 97

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.

FRQX.L vs. HKOR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin AC Asia ex Japan UCITS ETF (FRQX.L) and HSBC MSCI Korea Capped UCITS ETF USD (HKOR.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.

	FRQX.L	HKOR.L	Difference
Sharpe ratio Return per unit of total volatility	2.12	4.11	-1.99
Sortino ratio Return per unit of downside risk	2.89	4.49	-1.61
Omega ratio Gain probability vs. loss probability	1.39	1.62	-0.22
Calmar ratio Return relative to maximum drawdown	3.50	6.44	-2.94
Martin ratio Return relative to average drawdown	14.34	24.10	-9.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRQX.L vs. HKOR.L - Sharpe Ratio Comparison

The current FRQX.L Sharpe Ratio is 2.12, which is lower than the HKOR.L Sharpe Ratio of 4.11. The chart below compares the historical Sharpe Ratios of FRQX.L and HKOR.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRQX.L	HKOR.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	4.11	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.38	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.36	+0.07

Correlation

The correlation between FRQX.L and HKOR.L is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRQX.L vs. HKOR.L - Dividend Comparison

FRQX.L has not paid dividends to shareholders, while HKOR.L's dividend yield for the trailing twelve months is around 0.57%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQX.L Franklin AC Asia ex Japan UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HKOR.L HSBC MSCI Korea Capped UCITS ETF USD	0.57%	0.69%	1.51%	1.11%	0.71%	0.59%	0.02%	0.29%	0.53%	0.11%	0.13%	0.57%

Drawdowns

FRQX.L vs. HKOR.L - Drawdown Comparison

The maximum FRQX.L drawdown since its inception was -20.77%, smaller than the maximum HKOR.L drawdown of -44.41%. Use the drawdown chart below to compare losses from any high point for FRQX.L and HKOR.L.

Drawdown Indicators

	FRQX.L	HKOR.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.77%	-44.41%	+23.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-21.26%	+8.19%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-41.66%	+22.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.41%	—
Current Drawdown Current decline from peak	-9.94%	-17.48%	+7.54%
Average Drawdown Average peak-to-trough decline	-4.00%	-15.87%	+11.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	5.68%	-2.49%

Volatility

FRQX.L vs. HKOR.L - Volatility Comparison

The current volatility for Franklin AC Asia ex Japan UCITS ETF (FRQX.L) is 10.26%, while HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L) has a volatility of 15.92%. This indicates that FRQX.L experiences smaller price fluctuations and is considered to be less risky than HKOR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRQX.L	HKOR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.26%	15.92%	-5.66%
Volatility (6M) Calculated over the trailing 6-month period	15.23%	26.97%	-11.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	31.36%	-12.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	23.34%	-9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	23.19%	-7.01%