PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IKOR.L vs. HKOR.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IKOR.L vs. HKOR.L

Last updated Jun 5, 2026

IKOR.L (iShares MSCI Korea UCITS ETF (Dist)) and HKOR.L (HSBC MSCI Korea Capped UCITS ETF USD) are both Asia Pacific Equities funds tracking the MSCI Korea NR USD, from iShares and HSBC respectively. Both are passively managed. Over the past 10 years, IKOR.L returned 17.90%/yr vs 17.97%/yr for HKOR.L. Their correlation of 0.92 suggests significant overlap in exposure. IKOR.L charges 0.74%/yr vs 0.50%/yr for HKOR.L.

Performance

IKOR.L vs. HKOR.L - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with IKOR.L having a 107.66% return and HKOR.L slightly lower at 107.38%. Both investments have delivered pretty close results over the past 10 years, with IKOR.L having a 17.90% annualized return and HKOR.L not far ahead at 17.97%.

IKOR.L

1D
-4.06%
1M
17.39%
YTD
107.66%
6M
126.31%
1Y
237.26%
3Y*
45.36%
5Y*
19.90%
10Y*
17.90%

HKOR.L

1D
-4.88%
1M
17.29%
YTD
107.38%
6M
126.00%
1Y
237.99%
3Y*
45.20%
5Y*
19.90%
10Y*
17.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IKOR.L vs. HKOR.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IKOR.L
iShares MSCI Korea UCITS ETF (Dist)		107.66%85.96%-21.55%13.31%-19.76%-7.30%39.09%6.99%-16.57%32.45%
HKOR.L
HSBC MSCI Korea Capped UCITS ETF USD		107.38%86.42%-21.81%13.46%-19.95%-7.35%40.21%7.12%-16.48%32.68%

Correlation

The correlation between IKOR.L and HKOR.L is 0.99 - 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

0.99

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

0.99

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

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2011

0.92

The correlation between IKOR.L and HKOR.L has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.

IKOR.L vs. HKOR.L - Sectors Allocation Comparison

Sectors
IKOR.L
HKOR.L

Technology

56.0%
59.7%

Industrials

18.8%
16.3%

Financial Services

9.2%
8.7%

Consumer Cyclical

5.7%
6.3%

Healthcare

3.0%
2.7%

Communication Services

2.6%
2.1%

Basic Materials

2.0%
1.7%

Consumer Defensive

1.4%
1.2%

Energy

1.1%
0.9%

Utilities

0.4%
0.3%

Real Estate

-

-

Technology

IKOR.L
56.0%
HKOR.L
59.7%

Industrials

IKOR.L
18.8%
HKOR.L
16.3%

Financial Services

IKOR.L
9.2%
HKOR.L
8.7%

Consumer Cyclical

IKOR.L
5.7%
HKOR.L
6.3%

Healthcare

IKOR.L
3.0%
HKOR.L
2.7%

Communication Services

IKOR.L
2.6%
HKOR.L
2.1%

Basic Materials

IKOR.L
2.0%
HKOR.L
1.7%

Consumer Defensive

IKOR.L
1.4%
HKOR.L
1.2%

Energy

IKOR.L
1.1%
HKOR.L
0.9%

Utilities

IKOR.L
0.4%
HKOR.L
0.3%

Real Estate

IKOR.L

-

HKOR.L

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Korea UCITS ETF (Dist)

HSBC MSCI Korea Capped UCITS ETF USD

Often compared with IKOR.L:
IKOR.L vs. VOOIKOR.L vs. EWYIKOR.L vs. FLRK.LIKOR.L vs. FRXT.LIKOR.L vs. XMID.LIKOR.L vs. CP9U.LIKOR.L vs. CSKR.L
Often compared with HKOR.L:
HKOR.L vs. HTWN.LHKOR.L vs. AUAD.LHKOR.L vs. XMID.LHKOR.L vs. FRXT.LHKOR.L vs. GXLK.LHKOR.L vs. KRWL.LHKOR.L vs. LAUU.L

Return for Risk

IKOR.L vs. HKOR.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IKOR.L
IKOR.L Risk / Return Rank: 9797
Overall Rank
IKOR.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
IKOR.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
IKOR.L Omega Ratio Rank: 9696
Omega Ratio Rank
IKOR.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
IKOR.L Martin Ratio Rank: 9797
Martin Ratio Rank
HKOR.L
HKOR.L Risk / Return Rank: 9797
Overall Rank
HKOR.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
HKOR.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
HKOR.L Omega Ratio Rank: 9696
Omega Ratio Rank
HKOR.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
HKOR.L Martin Ratio Rank: 9696
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.

IKOR.L vs. HKOR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Korea UCITS ETF (Dist) (IKOR.L) and HSBC MSCI Korea Capped UCITS ETF USD (HKOR.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.

IKOR.LHKOR.LDifference
Sharpe ratioReturn per unit of total volatility
6.36
6.39

-0.03

Sortino ratioReturn per unit of downside risk
5.81
5.88

-0.06

Omega ratioGain probability vs. loss probability

1.83

1.84

-0.01

Calmar ratioReturn relative to maximum drawdown

10.97

11.12

-0.15

Martin ratioReturn relative to average drawdown

39.06

39.48

-0.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IKOR.L vs. HKOR.L - Sharpe Ratio Comparison

The current IKOR.L Sharpe Ratio is 6.36, which is comparable to the HKOR.L Sharpe Ratio of 6.39. The chart below compares the historical Sharpe Ratios of IKOR.L and HKOR.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.

Loading charts...

Sharpe Ratios by Period

IKOR.LHKOR.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

6.36

6.39

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.79

0.79

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

0.74

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.50

-0.09

Drawdowns

IKOR.L vs. HKOR.L - Drawdown Comparison

The maximum IKOR.L drawdown since its inception was -61.70%, which is greater than HKOR.L's maximum drawdown of -44.41%. Use the drawdown chart below to compare losses from any high point for IKOR.L and HKOR.L.

Loading charts...

Drawdown Indicators

IKOR.LHKOR.LDifference

Max Drawdown

Largest peak-to-trough decline

-61.70%

-44.41%

-17.29%

Max Drawdown (1Y)

Largest decline over 1 year

-21.48%

-21.26%

-0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-28.58%

-29.09%

+0.51%

Max Drawdown (5Y)

Largest decline over 5 years

-40.83%

-40.86%

+0.03%

Max Drawdown (10Y)

Largest decline over 10 years

-44.11%

-44.41%

+0.30%

Current Drawdown

Current decline from peak

-5.01%

-5.40%

+0.39%

Average Drawdown

Average peak-to-trough decline

-15.59%

-15.72%

+0.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.05%

6.00%

+0.05%

Volatility

IKOR.L vs. HKOR.L - Volatility Comparison

iShares MSCI Korea UCITS ETF (Dist) (IKOR.L) and HSBC MSCI Korea Capped UCITS ETF USD (HKOR.L) have volatilities of 17.45% and 17.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IKOR.LHKOR.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.45%

17.73%

-0.28%

Volatility (6M)

Calculated over the trailing 6-month period

32.34%

32.16%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

37.08%

37.01%

+0.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.31%

25.32%

-0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.76%

24.24%

+0.52%

IKOR.L vs. HKOR.L - Expense Ratio Comparison

IKOR.L has a 0.74% expense ratio, which is higher than HKOR.L's 0.50% expense ratio.

Dividends

IKOR.L vs. HKOR.L - Dividend Comparison

IKOR.L's dividend yield for the trailing twelve months is around 0.42%, more than HKOR.L's 0.35% yield.

PositionTTM20252024202320222021202020192018201720162015
HKOR.L
HSBC MSCI Korea Capped UCITS ETF USD		0.35%0.69%1.51%1.11%0.71%0.59%0.02%0.29%0.53%0.11%0.13%0.57%
IKOR.L
iShares MSCI Korea UCITS ETF (Dist)		0.42%0.83%1.31%1.14%1.34%1.36%0.76%1.28%1.07%0.72%0.57%0.43%

Frequently Asked Questions

With a correlation of 0.99, IKOR.L and HKOR.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.

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.

HKOR.L is cheaper with a 0.50% expense ratio, compared with 0.74% for IKOR.L.

Both ETFs track MSCI Korea NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.74% for IKOR.L and 0.50% for HKOR.L.

Portfolio Optimizer

Find the right allocation for IKOR.L and HKOR.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