HKOD.L vs. IWVG.L
HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds - HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF while IWVG.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 5 years, HKOD.L returned 14.71%/yr vs 16.55%/yr for IWVG.L. A 0.61 correlation means they provide meaningful diversification when combined. HKOD.L charges 0.50%/yr vs 0.30%/yr for IWVG.L.
Performance
HKOD.L vs. IWVG.L - Performance Comparison
Loading charts...
Different Trading Currencies
HKOD.L is traded in USD, while IWVG.L is traded in GBP. To make them comparable, the IWVG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HKOD.L achieves a 70.37% return, which is significantly higher than IWVG.L's 29.21% return.
HKOD.L
- 1D
- -1.67%
- 1M
- -20.60%
- 6M
- 52.67%
- YTD
- 70.37%
- 1Y
- 138.83%
- 3Y*
- 37.85%
- 5Y*
- 14.71%
- 10Y*
- 14.34%
IWVG.L
- 1D
- -1.38%
- 1M
- -4.12%
- 6M
- 25.30%
- YTD
- 29.21%
- 1Y
- 56.72%
- 3Y*
- 26.65%
- 5Y*
- 16.55%
- 10Y*
- —
HKOD.L vs. IWVG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 70.37% | 99.54% | -22.90% | 19.95% | -28.44% | -8.49% | 45.08% | 10.64% | -19.88% |
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 29.21% | 41.17% | 4.80% | 19.04% | -9.76% | 20.14% | -4.01% | 19.28% | -16.25% |
Correlation
The correlation between HKOD.L and IWVG.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2018 | 0.61 |
The correlation between HKOD.L and IWVG.L has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HKOD.L vs. IWVG.L — Risk / Return Rank
HKOD.L
IWVG.L
HKOD.L vs. IWVG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) and iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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.
| HKOD.L | IWVG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.60 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.77 | 6.55 | -0.77 |
| Martin ratioReturn relative to average drawdown | 17.93 | 23.13 | -5.20 |
Loading charts...
Drawdowns
HKOD.L vs. IWVG.L - Drawdown Comparison
The maximum HKOD.L drawdown since its inception was -50.54%, which is greater than IWVG.L's maximum drawdown of -35.79%. Use the drawdown chart below to compare losses from any high point for HKOD.L and IWVG.L.
Loading charts...
Drawdown Indicators
| HKOD.L | IWVG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.54% | -35.79% | -14.75% |
Max Drawdown (1Y)Largest decline over 1 year | -24.00% | -8.62% | -15.38% |
Max Drawdown (3Y)Largest decline over 3 years | -29.48% | -14.64% | -14.84% |
Max Drawdown (5Y)Largest decline over 5 years | -47.65% | -26.94% | -20.71% |
Max Drawdown (10Y)Largest decline over 10 years | -50.54% | — | — |
Current DrawdownCurrent decline from peak | -24.00% | -4.24% | -19.76% |
Average DrawdownAverage peak-to-trough decline | -18.79% | -6.64% | -12.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.45% | +5.30% |
Volatility
HKOD.L vs. IWVG.L - Volatility Comparison
HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a higher volatility of 20.20% compared to iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) at 6.03%. This indicates that HKOD.L's price experiences larger fluctuations and is considered to be riskier than IWVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HKOD.L | IWVG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.20% | 6.03% | +14.17% |
Volatility (6M)Calculated over the trailing 6-month period | 41.23% | 13.95% | +27.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.10% | 16.24% | +28.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.74% | 15.95% | +13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.96% | 17.66% | +9.30% |
HKOD.L vs. IWVG.L - Expense Ratio Comparison
HKOD.L has a 0.50% expense ratio, which is higher than IWVG.L's 0.30% expense ratio.
Dividends
HKOD.L vs. IWVG.L - Dividend Comparison
HKOD.L's dividend yield for the trailing twelve months is around 0.43%, less than IWVG.L's 1.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
IWVG.L iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) | 1.93% | 2.48% | 3.12% | 3.22% | 3.11% | 2.61% | 2.37% | 2.90% | 2.48% | 0.00% |
Frequently Asked Questions
HKOD.L and IWVG.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWVG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWVG.L is cheaper with a 0.30% expense ratio, compared with 0.50% for HKOD.L.
HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF, while IWVG.L tracks MSCI ACWI Value NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for HKOD.L and 0.30% for IWVG.L.
Find the right allocation for HKOD.L and IWVG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer