HBKS.L vs. SAGG.L
HBKS.L (HSBC Global Sukuk UCITS ETF C USD) and SAGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) are both Global Bonds funds - HBKS.L tracks the FTSE IdealRatings Sukuk Index while SAGG.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past year, HBKS.L returned 5.15% vs 3.52% for SAGG.L. A 0.61 correlation means they provide meaningful diversification when combined. HBKS.L charges 0.40%/yr vs 0.10%/yr for SAGG.L.
Performance
HBKS.L vs. SAGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, HBKS.L achieves a 0.69% return, which is significantly higher than SAGG.L's 0.11% return.
HBKS.L
- 1D
- 0.31%
- 1M
- 1.44%
- YTD
- 0.69%
- 6M
- -0.75%
- 1Y
- 5.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SAGG.L
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- 0.11%
- 6M
- -0.49%
- 1Y
- 3.52%
- 3Y*
- 0.69%
- 5Y*
- -0.70%
- 10Y*
- —
HBKS.L vs. SAGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.69% | -0.34% | 4.48% | 1.79% |
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 0.11% | 0.43% | 0.10% | 4.17% |
Correlation
The correlation between HBKS.L and SAGG.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.61 |
The correlation between HBKS.L and SAGG.L has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.
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Return for Risk
HBKS.L vs. SAGG.L — Risk / Return Rank
HBKS.L
SAGG.L
HBKS.L vs. SAGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Global Sukuk UCITS ETF C USD (HBKS.L) and iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.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.
| HBKS.L | SAGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 0.94 | +0.02 |
| Martin ratioReturn relative to average drawdown | 2.08 | 1.96 | +0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HBKS.L | SAGG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.69 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.27 | +0.61 |
Drawdowns
HBKS.L vs. SAGG.L - Drawdown Comparison
The maximum HBKS.L drawdown since its inception was -8.09%, smaller than the maximum SAGG.L drawdown of -28.96%. Use the drawdown chart below to compare losses from any high point for HBKS.L and SAGG.L.
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Drawdown Indicators
| HBKS.L | SAGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -28.96% | +20.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -3.74% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.74% | — |
Current DrawdownCurrent decline from peak | -2.83% | -23.29% | +20.46% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -21.84% | +19.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.80% | +0.66% |
Volatility
HBKS.L vs. SAGG.L - Volatility Comparison
HSBC Global Sukuk UCITS ETF C USD (HBKS.L) has a higher volatility of 1.91% compared to iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) at 1.17%. This indicates that HBKS.L's price experiences larger fluctuations and is considered to be riskier than SAGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBKS.L | SAGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.17% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 3.59% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 5.10% | +1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 7.00% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 11.33% | -4.40% |
HBKS.L vs. SAGG.L - Expense Ratio Comparison
HBKS.L has a 0.40% expense ratio, which is higher than SAGG.L's 0.10% expense ratio.
Dividends
HBKS.L vs. SAGG.L - Dividend Comparison
HBKS.L has not paid dividends to shareholders, while SAGG.L's dividend yield for the trailing twelve months is around 3.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 3.17% | 3.13% | 2.68% | 2.02% | 1.47% | 1.30% | 1.56% | 1.67% | 0.93% |
Frequently Asked Questions
HBKS.L and SAGG.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SAGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAGG.L is cheaper with a 0.10% expense ratio, compared with 0.40% for HBKS.L.
HBKS.L tracks FTSE IdealRatings Sukuk Index, while SAGG.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.40% for HBKS.L and 0.10% for SAGG.L.
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