HUKX.L vs. HKOD.L

Last updated Jul 18, 2026

HUKX.L (HSBC FTSE 100 UCITS ETF GBP) and HKOD.L (HSBC MSCI Korea Capped UCITS ETF USD (Dist)) are both exchange-traded funds - HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while HKOD.L is a Korea Equity fund tracking the MSCI Korea Capped Net Index. Both are passively managed. Over the past 10 years, HUKX.L returned 8.60%/yr vs 13.87%/yr for HKOD.L. A 0.52 correlation means they provide meaningful diversification when combined. HUKX.L charges 0.07%/yr vs 0.50%/yr for HKOD.L.

Performance

HUKX.L vs. HKOD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and HSBC MSCI Korea Capped UCITS ETF USD (Dist) (HKOD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HUKX.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, HUKX.L achieves a 8.17% return, which is significantly lower than HKOD.L's 66.85% return. Over the past 10 years, HUKX.L has underperformed HKOD.L with an annualized return of 8.60%, while HKOD.L has yielded a comparatively higher 13.87% annualized return.

HUKX.L

• 1D: 0.28%
• 1M: 0.93%
• 6M: 4.93%
• YTD: 8.17%
• 1Y: 21.16%
• 3Y*: 16.30%
• 5Y*: 12.54%
• 10Y*: 8.60%

HKOD.L

• 1D: -1.24%
• 1M: -24.00%
• 6M: 44.74%
• YTD: 66.85%
• 1Y: 133.51%
• 3Y*: 35.37%
• 5Y*: 14.72%
• 10Y*: 13.87%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HUKX.L HSBC FTSE 100 UCITS ETF GBP	8.17%	26.20%	9.58%	7.36%	5.07%	17.54%	-11.64%	17.42%	-8.67%	12.39%
HKOD.L HSBC MSCI Korea Capped UCITS ETF USD (Dist)	66.85%	85.32%	-21.55%	13.96%	-19.93%	-7.62%	40.82%	6.43%	-16.38%	33.19%

Correlation

The correlation between HUKX.L and HKOD.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 6, 2011	0.52

Over the past year, the correlation between HUKX.L and HKOD.L has dropped to 0.26 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

Return for Risk

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

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

HUKX.L

HUKX.L Risk / Return Rank: 69
HUKX.L Sharpe Ratio Rank: 75
HUKX.L Sortino Ratio Rank: 73
HUKX.L Omega Ratio Rank: 77
HUKX.L Calmar Ratio Rank: 61
HUKX.L Martin Ratio Rank: 57

HKOD.L

HKOD.L Risk / Return Rank: 92
HKOD.L Sharpe Ratio Rank: 95
HKOD.L Sortino Ratio Rank: 88
HKOD.L Omega Ratio Rank: 90
HKOD.L Calmar Ratio Rank: 94
HKOD.L Martin Ratio Rank: 92

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.

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

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) and HSBC MSCI Korea Capped UCITS ETF USD (Dist) (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.

	HUKX.L	HKOD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.88	3.02	-1.13
Sortino ratio: Return per unit of downside risk	2.61	3.19	-0.58
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.09
Calmar ratio: Return relative to maximum drawdown	2.40	4.91	-2.51
Martin ratio: Return relative to average drawdown	7.72	16.70	-8.98

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

The current HUKX.L Sharpe Ratio is 1.88, which is lower than the HKOD.L Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of HUKX.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.

Drawdowns

HUKX.L vs. HKOD.L - Drawdown Comparison

The maximum HUKX.L drawdown since its inception was -34.22%, smaller than the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for HUKX.L and HKOD.L.

Drawdown Indicators

	HUKX.L	HKOD.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.22%	-44.38%	+10.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-27.02%	+18.24%
Max Drawdown (3Y) Largest decline over 3 years	-12.95%	-29.12%	+16.17%
Max Drawdown (5Y) Largest decline over 5 years	-12.95%	-39.35%	+26.40%
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	-44.38%	+10.16%
Current Drawdown Current decline from peak	-1.63%	-27.02%	+25.39%
Average Drawdown Average peak-to-trough decline	-4.35%	-15.51%	+11.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	7.96%	-5.23%

Volatility

HUKX.L vs. HKOD.L - Volatility Comparison

The current volatility for HSBC FTSE 100 UCITS ETF GBP (HUKX.L) is 2.94%, while HSBC MSCI Korea Capped UCITS ETF USD (Dist) (HKOD.L) has a volatility of 19.45%. This indicates that HUKX.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.

Volatility by Period

	HUKX.L	HKOD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	19.45%	-16.51%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	40.17%	-30.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.20%	44.01%	-32.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	28.08%	-15.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	26.00%	-11.23%

HUKX.L vs. HKOD.L - Expense Ratio Comparison

HUKX.L has a 0.07% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.

Dividends

HUKX.L vs. HKOD.L - Dividend Comparison

HUKX.L's dividend yield for the trailing twelve months is around 2.79%, more than HKOD.L's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HKOD.L HSBC MSCI Korea Capped UCITS ETF USD (Dist)	0.44%	0.68%	1.54%	1.08%	0.72%	0.61%	0.02%	0.29%	0.56%	0.10%	0.00%	0.00%
HUKX.L HSBC FTSE 100 UCITS ETF GBP	2.79%	2.95%	3.74%	3.50%	3.63%	3.19%	4.04%	4.31%	4.35%	3.79%	3.49%	3.79%

Frequently Asked Questions

Can I hold both HUKX.L and HKOD.L in my portfolio?

HUKX.L and HKOD.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUKX.L or HKOD.L?

On fees, HUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUKX.L or HKOD.L?

HUKX.L is cheaper with a 0.07% expense ratio, compared with 0.50% for HKOD.L.

What is the main difference between HUKX.L and HKOD.L?

HUKX.L is categorized as Europe Equities, while HKOD.L is Korea Equity. HUKX.L tracks FTSE AllSh TR GBP, while HKOD.L tracks MSCI Korea Capped Net Index. Their fees differ too: 0.07% for HUKX.L and 0.50% for HKOD.L.