HKOR.L vs. 3KOR.L

Last updated Jul 16, 2026

HKOR.L (HSBC MSCI Korea Capped UCITS ETF USD) and 3KOR.L (Leverage Shares 3x Long South Korea ETP Securities) are both South Korea Equities funds. HKOR.L is passively managed, while 3KOR.L is actively managed. Over the past 3 years, HKOR.L returned 37.39%/yr vs 49.40%/yr for 3KOR.L. Their correlation of 0.94 suggests significant overlap in exposure. HKOR.L charges 0.50%/yr vs 0.75%/yr for 3KOR.L.

Performance

HKOR.L vs. 3KOR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L) and Leverage Shares 3x Long South Korea ETP Securities (3KOR.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HKOR.L is traded in GBp, while 3KOR.L is traded in USD. To make them comparable, the 3KOR.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HKOR.L achieves a 72.90% return, which is significantly lower than 3KOR.L's 124.48% return.

HKOR.L

• 1D: -3.89%
• 1M: -19.60%
• 6M: 55.13%
• YTD: 72.90%
• 1Y: 141.20%
• 3Y*: 37.39%
• 5Y*: 15.62%
• 10Y*: 14.31%

3KOR.L

• 1D: -11.21%
• 1M: -56.43%
• 6M: 66.70%
• YTD: 124.48%
• 1Y: 375.45%
• 3Y*: 49.40%
• 5Y*: —
• 10Y*: —

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

HKOR.L vs. 3KOR.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HKOR.L HSBC MSCI Korea Capped UCITS ETF USD	72.90%	86.42%	-21.81%	13.46%	-11.85%
3KOR.L Leverage Shares 3x Long South Korea ETP Securities	124.48%	324.15%	-61.68%	9.27%	-54.74%

Correlation

The correlation between HKOR.L and 3KOR.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 6, 2022	0.94

The correlation between HKOR.L and 3KOR.L has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

HKOR.L vs. 3KOR.L - Sectors Allocation Comparison

Sectors	HKOR.L	3KOR.L
Technology	61.3%	63.4%
Industrials	15.4%	15.2%
Financial Services	8.0%	7.4%
Consumer Cyclical	6.7%	5.5%
Healthcare	2.4%	2.5%
Communication Services	2.2%	2.1%
Basic Materials	1.6%	1.4%
Consumer Defensive	1.2%	1.3%
Energy	0.8%	0.9%
Utilities	0.3%	0.3%
Real Estate	-	-

Return for Risk

HKOR.L vs. 3KOR.L — Risk / Return Rank

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

HKOR.L

HKOR.L Risk / Return Rank: 93
HKOR.L Sharpe Ratio Rank: 96
HKOR.L Sortino Ratio Rank: 90
HKOR.L Omega Ratio Rank: 91
HKOR.L Calmar Ratio Rank: 95
HKOR.L Martin Ratio Rank: 93

3KOR.L

3KOR.L Risk / Return Rank: 88
3KOR.L Sharpe Ratio Rank: 95
3KOR.L Sortino Ratio Rank: 78
3KOR.L Omega Ratio Rank: 82
3KOR.L Calmar Ratio Rank: 95
3KOR.L Martin Ratio Rank: 90

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.

HKOR.L vs. 3KOR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L) and Leverage Shares 3x Long South Korea ETP Securities (3KOR.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.

	HKOR.L	3KOR.L	Difference
Sharpe ratio: Return per unit of total volatility	3.25	2.90	+0.35
Sortino ratio: Return per unit of downside risk	3.39	2.78	+0.61
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.09
Calmar ratio: Return relative to maximum drawdown	5.84	5.76	+0.08
Martin ratio: Return relative to average drawdown	18.61	15.71	+2.90

HKOR.L vs. 3KOR.L - Sharpe Ratio Comparison

The current HKOR.L Sharpe Ratio is 3.25, which is comparable to the 3KOR.L Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of HKOR.L and 3KOR.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.

Drawdowns

HKOR.L vs. 3KOR.L - Drawdown Comparison

The maximum HKOR.L drawdown since its inception was -56.04%, smaller than the maximum 3KOR.L drawdown of -85.83%. Use the drawdown chart below to compare losses from any high point for HKOR.L and 3KOR.L.

Drawdown Indicators

	HKOR.L	3KOR.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.04%	-85.83%	+29.79%
Max Drawdown (1Y) Largest decline over 1 year	-24.05%	-64.70%	+40.65%
Max Drawdown (3Y) Largest decline over 3 years	-29.09%	-74.96%	+45.87%
Max Drawdown (5Y) Largest decline over 5 years	-39.51%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.41%	—	—
Current Drawdown Current decline from peak	-24.05%	-64.70%	+40.65%
Average Drawdown Average peak-to-trough decline	-28.33%	-52.67%	+24.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.56%	23.77%	-16.21%

Volatility

HKOR.L vs. 3KOR.L - Volatility Comparison

The current volatility for HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L) is 20.68%, while Leverage Shares 3x Long South Korea ETP Securities (3KOR.L) has a volatility of 61.37%. This indicates that HKOR.L experiences smaller price fluctuations and is considered to be less risky than 3KOR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HKOR.L	3KOR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.68%	61.37%	-40.69%
Volatility (6M) Calculated over the trailing 6-month period	39.47%	119.63%	-80.16%
Volatility (1Y) Calculated over the trailing 1-year period	43.21%	128.33%	-85.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	86.79%	-59.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.25%	86.79%	-61.54%

HKOR.L vs. 3KOR.L - Expense Ratio Comparison

HKOR.L has a 0.50% expense ratio, which is lower than 3KOR.L's 0.75% expense ratio.

Dividends

HKOR.L vs. 3KOR.L - Dividend Comparison

HKOR.L's dividend yield for the trailing twelve months is around 0.42%, while 3KOR.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
3KOR.L Leverage Shares 3x Long South Korea ETP Securities	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	0.42%	0.69%	1.51%	1.11%	0.71%	0.59%	0.02%	0.29%	0.14%	0.11%	0.13%

Frequently Asked Questions

Can I hold both HKOR.L and 3KOR.L in my portfolio?

With a correlation of 0.97, HKOR.L and 3KOR.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, HKOR.L or 3KOR.L?

On fees, HKOR.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HKOR.L or 3KOR.L?

HKOR.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 3KOR.L.

What is the main difference between HKOR.L and 3KOR.L?

They also come from different issuers: HSBC and Leverage Shares. Their fees differ too: 0.50% for HKOR.L and 0.75% for 3KOR.L.