IUSZ.L vs. HKOD.L
IUSZ.L (iShares MSCI USA Mid-Cap Equal Weight UCITS ETF) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - IUSZ.L tracks the iShares MSCI USA Mid-Cap Equal Weight UCITS ETF while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 5 years, IUSZ.L returned 6.53%/yr vs 14.71%/yr for HKOD.L. A 0.51 correlation means they provide meaningful diversification when combined. IUSZ.L charges 0.20%/yr vs 0.50%/yr for HKOD.L.
Performance
IUSZ.L vs. HKOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IUSZ.L achieves a 8.28% return, which is significantly lower than HKOD.L's 70.37% return.
IUSZ.L
- 1D
- -0.50%
- 1M
- -0.42%
- 6M
- 5.64%
- YTD
- 8.28%
- 1Y
- 14.27%
- 3Y*
- 11.91%
- 5Y*
- 6.53%
- 10Y*
- —
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%
IUSZ.L vs. HKOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF | 8.28% | 8.58% | 12.73% | 17.19% | -18.26% | 26.04% | 17.67% | 27.95% | -10.01% | 17.20% |
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 IUSZ.L and HKOD.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2016 | 0.51 |
The correlation between IUSZ.L and HKOD.L has been stable across timeframes, ranging from 0.43 to 0.53 - a consistent structural relationship.
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Return for Risk
IUSZ.L vs. HKOD.L — Risk / Return Rank
IUSZ.L
HKOD.L
IUSZ.L vs. HKOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF (IUSZ.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.
| IUSZ.L | HKOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.45 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 5.77 | -3.84 |
| Martin ratioReturn relative to average drawdown | 6.85 | 17.93 | -11.07 |
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Drawdowns
IUSZ.L vs. HKOD.L - Drawdown Comparison
The maximum IUSZ.L drawdown since its inception was -41.10%, smaller than the maximum HKOD.L drawdown of -50.54%. Use the drawdown chart below to compare losses from any high point for IUSZ.L and HKOD.L.
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Drawdown Indicators
| IUSZ.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.10% | -50.54% | +9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -24.00% | +15.79% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -29.48% | +8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -25.70% | -47.65% | +21.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.54% | — |
Current DrawdownCurrent decline from peak | -1.67% | -24.00% | +22.33% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -18.79% | +12.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 7.75% | -5.43% |
Volatility
IUSZ.L vs. HKOD.L - Volatility Comparison
The current volatility for iShares MSCI USA Mid-Cap Equal Weight UCITS ETF (IUSZ.L) is 3.88%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.20%. This indicates that IUSZ.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
| IUSZ.L | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 20.20% | -16.32% |
Volatility (6M)Calculated over the trailing 6-month period | 9.43% | 41.23% | -31.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 45.10% | -32.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.03% | 29.74% | -11.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.72% | 26.96% | -6.24% |
IUSZ.L vs. HKOD.L - Expense Ratio Comparison
IUSZ.L has a 0.20% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.
Dividends
IUSZ.L vs. HKOD.L - Dividend Comparison
IUSZ.L's dividend yield for the trailing twelve months is around 0.43%, which matches HKOD.L's 0.43% yield.
| 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% |
IUSZ.L iShares MSCI USA Mid-Cap Equal Weight UCITS ETF | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IUSZ.L and HKOD.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSZ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSZ.L is cheaper with a 0.20% expense ratio, compared with 0.50% for HKOD.L.
IUSZ.L tracks iShares MSCI USA Mid-Cap Equal Weight UCITS ETF, 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 IUSZ.L and 0.50% for HKOD.L.
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