PAXG.L vs. IKOR.L

Last updated Jun 5, 2026

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

Performance

PAXG.L vs. IKOR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and iShares MSCI Korea UCITS ETF (Dist) (IKOR.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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

PAXG.L

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

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%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

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

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

Return for Risk

PAXG.L vs. IKOR.L — Risk / Return Rank

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

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

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

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.

PAXG.L vs. IKOR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and iShares MSCI Korea UCITS ETF (Dist) (IKOR.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.

	PAXG.L	IKOR.L	Difference
Sharpe ratio: Return per unit of total volatility	1.22	6.36	-5.15
Sortino ratio: Return per unit of downside risk	1.78	5.81	-4.04
Omega ratio: Gain probability vs. loss probability	1.23	1.83	-0.61
Calmar ratio: Return relative to maximum drawdown	1.83	10.97	-9.14
Martin ratio: Return relative to average drawdown	4.61	39.06	-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.

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

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

	PAXG.L	IKOR.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	6.36	-5.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.79	-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	0.35	0.42	-0.07

Drawdowns

PAXG.L vs. IKOR.L - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

PAXG.L vs. IKOR.L - Volatility Comparison

The current volatility for Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) is 3.60%, while iShares MSCI Korea UCITS ETF (Dist) (IKOR.L) has a volatility of 17.45%. This indicates that PAXG.L experiences smaller price fluctuations and is considered to be less risky than IKOR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

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

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

Dividends

PAXG.L vs. IKOR.L - Dividend Comparison

PAXG.L's dividend yield for the trailing twelve months is around 0.03%, less than IKOR.L's 0.42% 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 PAXG.L and IKOR.L in my portfolio?

PAXG.L and IKOR.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, PAXG.L or IKOR.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, PAXG.L or IKOR.L?

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

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

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