IKOR.L vs. PAXG.L

Last updated Jun 5, 2026

IKOR.L (iShares MSCI Korea UCITS ETF (Dist)) and PAXG.L (Lyxor MSCI Pacific Ex Japan UCITS) are both Asia Pacific Equities funds - IKOR.L tracks the MSCI Korea NR USD while PAXG.L tracks the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 5 years, IKOR.L returned 19.90%/yr vs 1.86%/yr for PAXG.L. At a 0.26 correlation, their price movements are largely independent. IKOR.L charges 0.74%/yr vs 0.12%/yr for PAXG.L.

Performance

IKOR.L vs. PAXG.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 Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IKOR.L achieves a 107.66% return, which is significantly higher than PAXG.L's 8.84% return.

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%

PAXG.L

• 1D: -0.86%
• 1M: 0.45%
• YTD: 8.84%
• 6M: 5.98%
• 1Y: 13.70%
• 3Y*: 6.05%
• 5Y*: 1.86%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS	8.84%	8.63%	1.48%	-3.00%	-0.45%	0.41%	0.63%	7.84%	-4.76%	9.31%

Correlation

The correlation between IKOR.L and PAXG.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Aug 2, 2016	0.26

The correlation between IKOR.L and PAXG.L shifts across timeframes, from 0.26 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.

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

Sectors	IKOR.L	PAXG.L
Technology	56.0%	1.1%
Industrials	18.8%	8.5%
Financial Services	9.2%	46.1%
Consumer Cyclical	5.7%	6.0%
Healthcare	3.0%	3.7%
Communication Services	2.6%	2.7%
Basic Materials	2.0%	14.6%
Consumer Defensive	1.4%	3.0%
Energy	1.1%	2.9%
Utilities	0.4%	3.6%
Real Estate	-	7.8%

Return for Risk

IKOR.L vs. PAXG.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: 97
IKOR.L Sharpe Ratio Rank: 99
IKOR.L Sortino Ratio Rank: 96
IKOR.L Omega Ratio Rank: 96
IKOR.L Calmar Ratio Rank: 97
IKOR.L Martin Ratio Rank: 97

PAXG.L

PAXG.L Risk / Return Rank: 34
PAXG.L Sharpe Ratio Rank: 34
PAXG.L Sortino Ratio Rank: 35
PAXG.L Omega Ratio Rank: 34
PAXG.L Calmar Ratio Rank: 38
PAXG.L Martin Ratio Rank: 32

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. PAXG.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 Lyxor MSCI Pacific Ex Japan UCITS (PAXG.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.L	PAXG.L	Difference
Sharpe ratio: Return per unit of total volatility	6.36	1.22	+5.15
Sortino ratio: Return per unit of downside risk	5.81	1.78	+4.04
Omega ratio: Gain probability vs. loss probability	1.83	1.23	+0.61
Calmar ratio: Return relative to maximum drawdown	10.97	1.83	+9.14
Martin ratio: Return relative to average drawdown	39.06	4.61	+34.45
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. PAXG.L - Sharpe Ratio Comparison

The current IKOR.L Sharpe Ratio is 6.36, which is higher than the PAXG.L Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of IKOR.L and PAXG.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.

Sharpe Ratios by Period

	IKOR.L	PAXG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.36	1.22	+5.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.17	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.35	+0.07

Drawdowns

IKOR.L vs. PAXG.L - Drawdown Comparison

The maximum IKOR.L drawdown since its inception was -61.70%, which is greater than PAXG.L's maximum drawdown of -31.27%. Use the drawdown chart below to compare losses from any high point for IKOR.L and PAXG.L.

Drawdown Indicators

	IKOR.L	PAXG.L	Difference
Max Drawdown Largest peak-to-trough decline	-61.70%	-31.27%	-30.43%
Max Drawdown (1Y) Largest decline over 1 year	-21.48%	-7.45%	-14.03%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-21.29%	-7.29%
Max Drawdown (5Y) Largest decline over 5 years	-40.83%	-21.29%	-19.54%
Max Drawdown (10Y) Largest decline over 10 years	-44.11%	—	—
Current Drawdown Current decline from peak	-5.01%	-3.15%	-1.86%
Average Drawdown Average peak-to-trough decline	-15.59%	-6.86%	-8.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	2.97%	+3.08%

Volatility

IKOR.L vs. PAXG.L - Volatility Comparison

iShares MSCI Korea UCITS ETF (Dist) (IKOR.L) has a higher volatility of 17.45% compared to Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) at 3.60%. This indicates that IKOR.L's price experiences larger fluctuations and is considered to be riskier than PAXG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IKOR.L	PAXG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.45%	3.60%	+13.85%
Volatility (6M) Calculated over the trailing 6-month period	32.34%	8.91%	+23.43%
Volatility (1Y) Calculated over the trailing 1-year period	37.08%	11.24%	+25.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.31%	17.63%	+7.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	23.15%	+1.61%

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

IKOR.L has a 0.74% expense ratio, which is higher than PAXG.L's 0.12% expense ratio.

Dividends

IKOR.L vs. PAXG.L - Dividend Comparison

IKOR.L's dividend yield for the trailing twelve months is around 0.42%, more than PAXG.L's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS	0.03%	0.03%	0.06%	0.04%	0.04%	0.04%	0.03%	0.04%	0.04%	0.03%	0.02%	0.00%

Frequently Asked Questions

Can I hold both IKOR.L and PAXG.L in my portfolio?

IKOR.L and PAXG.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IKOR.L or PAXG.L?

On fees, PAXG.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IKOR.L or PAXG.L?

PAXG.L is cheaper with a 0.12% expense ratio, compared with 0.74% for IKOR.L.

What is the main difference between IKOR.L and PAXG.L?

IKOR.L tracks MSCI Korea NR USD, while PAXG.L tracks MSCI Pacific Ex Japan NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.74% for IKOR.L and 0.12% for PAXG.L.