KF vs. HL

Last updated Jun 26, 2026

KF (The Korea Fund Inc) is Emerging Markets Equities fund managed by Allianz Global Investors, while HL (Hecla Mining Company) is a stock. Over the past 10 years, KF returned 17.58%/yr vs 12.84%/yr for HL. At a 0.15 correlation, their price movements are largely independent.

Performance

KF vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Korea Fund Inc (KF) and Hecla Mining Company (HL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KF achieves a 106.42% return, which is significantly higher than HL's -21.02% return. Over the past 10 years, KF has outperformed HL with an annualized return of 17.58%, while HL has yielded a comparatively lower 12.84% annualized return.

KF

• 1D: 4.33%
• 1M: 3.81%
• YTD: 106.42%
• 6M: 111.24%
• 1Y: 184.03%
• 3Y*: 49.03%
• 5Y*: 19.60%
• 10Y*: 17.58%

HL

• 1D: 4.34%
• 1M: -13.82%
• YTD: -21.02%
• 6M: -23.57%
• 1Y: 160.17%
• 3Y*: 43.89%
• 5Y*: 15.37%
• 10Y*: 12.84%

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

KF vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KF The Korea Fund Inc	106.42%	99.36%	-19.29%	12.34%	-30.02%	8.44%	37.14%	6.83%	-19.26%	42.50%
HL Hecla Mining Company	-21.02%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Correlation

The correlation between KF and HL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Nov 5, 1987	0.15

Over the past year, KF and HL have become more correlated (0.35) than their long-term average of 0.15, meaning their price movements have been converging.

Return for Risk

KF vs. HL — Risk / Return Rank

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

KF

KF Risk / Return Rank: 95
KF Sharpe Ratio Rank: 99
KF Sortino Ratio Rank: 90
KF Omega Ratio Rank: 90
KF Calmar Ratio Rank: 98
KF Martin Ratio Rank: 98

HL

HL Risk / Return Rank: 85
HL Sharpe Ratio Rank: 91
HL Sortino Ratio Rank: 86
HL Omega Ratio Rank: 84
HL Calmar Ratio Rank: 84
HL Martin Ratio Rank: 81

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.

KF vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Korea Fund Inc (KF) and Hecla Mining Company (HL). 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.

	KF	HL	Difference
Sharpe ratio: Return per unit of total volatility	4.02	2.19	+1.83
Sortino ratio: Return per unit of downside risk	3.85	2.63	+1.21
Omega ratio: Gain probability vs. loss probability	1.59	1.32	+0.26
Calmar ratio: Return relative to maximum drawdown	7.29	2.89	+4.40
Martin ratio: Return relative to average drawdown	25.89	6.13	+19.76

KF vs. HL - Sharpe Ratio Comparison

The current KF Sharpe Ratio is 4.02, which is higher than the HL Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of KF and HL, 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

KF vs. HL - Drawdown Comparison

The maximum KF drawdown since its inception was -85.25%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for KF and HL.

Drawdown Indicators

	KF	HL	Difference
Max Drawdown Largest peak-to-trough decline	-85.25%	-97.92%	+12.67%
Max Drawdown (1Y) Largest decline over 1 year	-25.42%	-55.81%	+30.39%
Max Drawdown (3Y) Largest decline over 3 years	-28.04%	-55.81%	+27.77%
Max Drawdown (5Y) Largest decline over 5 years	-47.62%	-55.81%	+8.19%
Max Drawdown (10Y) Largest decline over 10 years	-52.91%	-82.45%	+29.54%
Current Drawdown Current decline from peak	-6.35%	-52.35%	+46.00%
Average Drawdown Average peak-to-trough decline	-37.84%	-69.92%	+32.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.14%	26.25%	-19.11%

Volatility

KF vs. HL - Volatility Comparison

The Korea Fund Inc (KF) has a higher volatility of 25.42% compared to Hecla Mining Company (HL) at 21.86%. This indicates that KF's price experiences larger fluctuations and is considered to be riskier than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KF	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.42%	21.86%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	42.78%	54.59%	-11.81%
Volatility (1Y) Calculated over the trailing 1-year period	46.03%	73.51%	-27.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.30%	59.39%	-30.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	62.86%	-36.01%

Dividends

KF vs. HL - Dividend Comparison

KF's dividend yield for the trailing twelve months is around 0.58%, more than HL's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HL Hecla Mining Company	0.10%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%
KF The Korea Fund Inc	0.58%	1.20%	2.46%	0.00%	15.93%	26.50%	1.30%	0.24%	18.67%	9.75%	1.03%	13.66%

Frequently Asked Questions

Can I hold both KF and HL in my portfolio?

KF and HL have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KF or HL?

KF has higher volatility (25.42%) compared to HL (21.86%). In terms of maximum drawdown, KF dropped -85.25% vs HL's -97.92%.

Which has better risk-adjusted returns?

KF currently has the higher Sharpe Ratio (4.02 vs 2.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.