KOKU vs. ILCB

Last updated Jun 6, 2026

KOKU (Xtrackers MSCI Kokusai Equity ETF) and ILCB (iShares Morningstar U.S. Equity ETF) are both Large Cap Growth Equities funds - KOKU tracks the MSCI Kokusai Index (World ex Japan) while ILCB tracks the Morningstar US Large-Mid Cap Index. Both are passively managed. Over the past 5 years, KOKU returned 11.69%/yr vs 12.95%/yr for ILCB. Their correlation of 0.94 suggests significant overlap in exposure. KOKU charges 0.09%/yr vs 0.03%/yr for ILCB.

Performance

KOKU vs. ILCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Kokusai Equity ETF (KOKU) and iShares Morningstar U.S. Equity ETF (ILCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KOKU achieves a 7.33% return, which is significantly lower than ILCB's 8.69% return.

KOKU

• 1D: -2.72%
• 1M: -0.32%
• YTD: 7.33%
• 6M: 7.81%
• 1Y: 23.41%
• 3Y*: 20.15%
• 5Y*: 11.69%
• 10Y*: —

ILCB

• 1D: -2.58%
• 1M: 0.71%
• YTD: 8.69%
• 6M: 8.39%
• 1Y: 25.87%
• 3Y*: 21.72%
• 5Y*: 12.95%
• 10Y*: 14.67%

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

KOKU vs. ILCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KOKU Xtrackers MSCI Kokusai Equity ETF	7.33%	21.45%	19.45%	24.23%	-17.83%	23.84%	40.42%
ILCB iShares Morningstar U.S. Equity ETF	8.69%	17.70%	24.96%	26.91%	-19.48%	24.07%	40.33%

Correlation

The correlation between KOKU and ILCB is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.94

The correlation between KOKU and ILCB has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

KOKU vs. ILCB - Sectors Allocation Comparison

Sectors	KOKU	ILCB
Technology	28.9%	35.5%
Financial Services	15.6%	11.7%
Industrials	10.5%	8.6%
Communication Services	9.3%	11.4%
Consumer Cyclical	9.1%	10.1%
Healthcare	8.9%	8.6%
Consumer Defensive	5.4%	4.8%
Energy	4.4%	3.5%
Basic Materials	3.3%	1.8%
Utilities	2.8%	2.3%
Real Estate	1.8%	1.8%

Return for Risk

KOKU vs. ILCB — Risk / Return Rank

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

KOKU

KOKU Risk / Return Rank: 60
KOKU Sharpe Ratio Rank: 60
KOKU Sortino Ratio Rank: 59
KOKU Omega Ratio Rank: 59
KOKU Calmar Ratio Rank: 56
KOKU Martin Ratio Rank: 67

ILCB

ILCB Risk / Return Rank: 66
ILCB Sharpe Ratio Rank: 67
ILCB Sortino Ratio Rank: 65
ILCB Omega Ratio Rank: 67
ILCB Calmar Ratio Rank: 60
ILCB Martin Ratio Rank: 72

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.

KOKU vs. ILCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Kokusai Equity ETF (KOKU) and iShares Morningstar U.S. Equity ETF (ILCB). 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.

	KOKU	ILCB	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.12	-0.22
Sortino ratio: Return per unit of downside risk	2.62	2.85	-0.24
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	2.60	2.86	-0.26
Martin ratio: Return relative to average drawdown	11.67	13.09	-1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KOKU vs. ILCB - Sharpe Ratio Comparison

The current KOKU Sharpe Ratio is 1.89, which is comparable to the ILCB Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of KOKU and ILCB, 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

	KOKU	ILCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.12	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.76	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.63	+0.44

Drawdowns

KOKU vs. ILCB - Drawdown Comparison

The maximum KOKU drawdown since its inception was -25.77%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for KOKU and ILCB.

Drawdown Indicators

	KOKU	ILCB	Difference
Max Drawdown Largest peak-to-trough decline	-25.77%	-51.53%	+25.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-9.09%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.73%	-19.05%	+1.32%
Max Drawdown (5Y) Largest decline over 5 years	-25.77%	-25.47%	-0.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.30%	—
Current Drawdown Current decline from peak	-2.95%	-2.85%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.82%	-6.23%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.98%	+0.03%

Volatility

KOKU vs. ILCB - Volatility Comparison

Xtrackers MSCI Kokusai Equity ETF (KOKU) has a higher volatility of 4.06% compared to iShares Morningstar U.S. Equity ETF (ILCB) at 3.76%. This indicates that KOKU's price experiences larger fluctuations and is considered to be riskier than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KOKU	ILCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	3.76%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	9.50%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	12.30%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	17.16%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	18.17%	-1.33%

KOKU vs. ILCB - Expense Ratio Comparison

KOKU has a 0.09% expense ratio, which is higher than ILCB's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

KOKU vs. ILCB - Dividend Comparison

KOKU's dividend yield for the trailing twelve months is around 1.39%, more than ILCB's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCB iShares Morningstar U.S. Equity ETF	0.99%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%
KOKU Xtrackers MSCI Kokusai Equity ETF	1.39%	1.48%	1.63%	1.76%	1.98%	1.89%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KOKU and ILCB in my portfolio?

With a correlation of 0.96, KOKU and ILCB 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.

Which is riskier, KOKU or ILCB?

KOKU has higher volatility (4.06%) compared to ILCB (3.76%). In terms of maximum drawdown, KOKU dropped -25.77% vs ILCB's -51.53%.

Which ETF is better, KOKU or ILCB?

On 5-year performance, ILCB leads with 12.95% vs 11.69% for KOKU. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOKU or ILCB?

Over the 5-year period, ILCB has performed better with a 12.95% return vs 11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOKU or ILCB?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.09% for KOKU.

Which ETF pays a higher dividend yield, KOKU or ILCB?

KOKU has the higher dividend yield at 1.39%, compared with 0.99% for ILCB.

What is the main difference between KOKU and ILCB?

KOKU tracks MSCI Kokusai Index (World ex Japan), while ILCB tracks Morningstar US Large-Mid Cap Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.09% for KOKU and 0.03% for ILCB.

Which has better risk-adjusted returns?

ILCB currently has the higher Sharpe Ratio (2.12 vs 1.89), 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.