ISAC.L vs. HKOD.L
ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - ISAC.L tracks the MSCI All Country World Index (Net) while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, ISAC.L returned 12.44%/yr vs 14.34%/yr for HKOD.L. A 0.69 correlation means they provide meaningful diversification when combined. ISAC.L charges 0.20%/yr vs 0.50%/yr for HKOD.L.
Performance
ISAC.L vs. HKOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISAC.L achieves a 11.18% return, which is significantly lower than HKOD.L's 70.37% return. Over the past 10 years, ISAC.L has underperformed HKOD.L with an annualized return of 12.44%, while HKOD.L has yielded a comparatively higher 14.34% annualized return.
ISAC.L
- 1D
- 0.12%
- 1M
- -0.60%
- 6M
- 9.67%
- YTD
- 11.18%
- 1Y
- 23.73%
- 3Y*
- 19.02%
- 5Y*
- 11.12%
- 10Y*
- 12.44%
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%
ISAC.L vs. HKOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 11.18% | 22.36% | 17.81% | 22.57% | -18.16% | 18.85% | 15.66% | 25.75% | -9.73% | 24.40% |
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 70.37% | 99.54% | -22.90% | 19.95% | -28.44% | -8.49% | 45.08% | 10.64% | -21.06% | 45.79% |
Correlation
The correlation between ISAC.L and HKOD.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011 | 0.69 |
The correlation between ISAC.L and HKOD.L has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
ISAC.L vs. HKOD.L — Risk / Return Rank
ISAC.L
HKOD.L
ISAC.L vs. HKOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) and HSBC MSCI KOREA CAPPED UCITS ETF (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.
| ISAC.L | HKOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 5.77 | -3.08 |
| Martin ratioReturn relative to average drawdown | 10.76 | 17.93 | -7.17 |
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Drawdowns
ISAC.L vs. HKOD.L - Drawdown Comparison
The maximum ISAC.L drawdown since its inception was -33.82%, smaller than the maximum HKOD.L drawdown of -50.54%. Use the drawdown chart below to compare losses from any high point for ISAC.L and HKOD.L.
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Drawdown Indicators
| ISAC.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.82% | -50.54% | +16.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.77% | -24.00% | +15.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -29.48% | +12.92% |
Max Drawdown (5Y)Largest decline over 5 years | -26.07% | -47.65% | +21.58% |
Max Drawdown (10Y)Largest decline over 10 years | -33.82% | -50.54% | +16.72% |
Current DrawdownCurrent decline from peak | -1.03% | -24.00% | +22.97% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -18.79% | +14.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 7.75% | -5.55% |
Volatility
ISAC.L vs. HKOD.L - Volatility Comparison
The current volatility for iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) is 3.18%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.20%. This indicates that ISAC.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.
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Volatility by Period
| ISAC.L | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 20.20% | -17.02% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 41.23% | -30.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 45.10% | -32.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.65% | 29.74% | -14.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.82% | 26.96% | -11.14% |
ISAC.L vs. HKOD.L - Expense Ratio Comparison
ISAC.L has a 0.20% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.
Dividends
ISAC.L vs. HKOD.L - Dividend Comparison
ISAC.L has not paid dividends to shareholders, while HKOD.L's dividend yield for the trailing twelve months is around 0.43%.
| 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% |
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISAC.L and HKOD.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.50% for HKOD.L.
ISAC.L tracks MSCI All Country World Index (Net), while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.20% for ISAC.L and 0.50% for HKOD.L.
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