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

FXGB.L vs. HKOD.L

Last updated Jul 16, 2026
Documentation

FXGB.L (First Trust FactorFX UCITS ETF Class B GBP) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - FXGB.L tracks the First Trust FactorFX UCITS ETF Class B GBP while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 5 years, FXGB.L returned 5.06%/yr vs 15.49%/yr for HKOD.L. At a 0.17 correlation, their price movements are largely independent.

Performance

FXGB.L vs. HKOD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust FactorFX UCITS ETF Class B GBP (FXGB.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

FXGB.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, FXGB.L achieves a 6.36% return, which is significantly lower than HKOD.L's 72.55% return.

FXGB.L

1D
1.17%
1M
1.83%
6M
6.32%
YTD
6.36%
1Y
11.05%
3Y*
6.35%
5Y*
5.06%
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)

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

2026 (YTD)202520242023202220212020201920182017
FXGB.L
First Trust FactorFX UCITS ETF Class B GBP		6.36%7.73%5.81%10.67%-1.83%-2.87%-1.20%2.63%-1.11%0.76%
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%-0.48%

Correlation

The correlation between FXGB.L and HKOD.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.11

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

-0.00

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

0.12

Correlation (All Time)
Calculated using the full available price history since Nov 29, 2017

0.17

The correlation between FXGB.L and HKOD.L shifts across timeframes, from -0.11 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

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First Trust FactorFX UCITS ETF Class B GBP

HSBC MSCI KOREA CAPPED UCITS ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXGB.L
FXGB.L Risk / Return Rank: 4242
Overall Rank
FXGB.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
FXGB.L Sortino Ratio Rank: 3232
Sortino Ratio Rank
FXGB.L Omega Ratio Rank: 3232
Omega Ratio Rank
FXGB.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
FXGB.L Martin Ratio Rank: 5252
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.

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

This table presents a comparison of risk-adjusted performance metrics for First Trust FactorFX UCITS ETF Class B GBP (FXGB.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.

FXGB.LHKOD.LDifference
Sharpe ratioReturn per unit of total volatility
0.99
3.20

-2.21

Sortino ratioReturn per unit of downside risk
1.46
3.31

-1.86

Omega ratioGain probability vs. loss probability

1.18

1.47

-0.29

Calmar ratioReturn relative to maximum drawdown

2.54

5.73

-3.19

Martin ratioReturn relative to average drawdown

7.10

18.17

-11.07

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

The current FXGB.L Sharpe Ratio is 0.99, which is lower than the HKOD.L Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of FXGB.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

FXGB.L vs. HKOD.L - Drawdown Comparison

The maximum FXGB.L drawdown since its inception was -9.43%, smaller than the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for FXGB.L and HKOD.L.

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Drawdown Indicators

FXGB.LHKOD.LDifference

Max Drawdown

Largest peak-to-trough decline

-9.43%

-44.38%

+34.95%

Max Drawdown (1Y)

Largest decline over 1 year

-4.33%

-24.53%

+20.20%

Max Drawdown (3Y)

Largest decline over 3 years

-6.86%

-29.12%

+22.26%

Max Drawdown (5Y)

Largest decline over 5 years

-7.83%

-39.67%

+31.84%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.38%

—

Current Drawdown

Current decline from peak

-0.01%

-24.53%

+24.52%

Average Drawdown

Average peak-to-trough decline

-2.72%

-15.51%

+12.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.55%

7.76%

-6.21%

Volatility

FXGB.L vs. HKOD.L - Volatility Comparison

The current volatility for First Trust FactorFX UCITS ETF Class B GBP (FXGB.L) is 2.78%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.24%. This indicates that FXGB.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

FXGB.LHKOD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.78%

20.24%

-17.46%

Volatility (6M)

Calculated over the trailing 6-month period

8.42%

40.06%

-31.64%

Volatility (1Y)

Calculated over the trailing 1-year period

11.11%

43.91%

-32.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.87%

28.07%

-20.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.76%

25.99%

-19.23%

Dividends

FXGB.L vs. HKOD.L - Dividend Comparison

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

PositionTTM202520242023202220212020201920182017
FXGB.L
First Trust FactorFX UCITS ETF Class B GBP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%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

FXGB.L and HKOD.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FXGB.L tracks First Trust FactorFX UCITS ETF Class B GBP, while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: First Trust and HSBC.

Portfolio Optimizer

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Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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