SAGG.L vs. HBKS.L
SAGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and HBKS.L (HSBC Global Sukuk UCITS ETF C USD) are both Global Bonds funds - SAGG.L tracks the Bloomberg Global Aggregate TR USD while HBKS.L tracks the FTSE IdealRatings Sukuk Index. Both are passively managed. Over the past year, SAGG.L returned 1.64% vs 5.14% for HBKS.L. A 0.67 correlation means they provide meaningful diversification when combined. SAGG.L charges 0.10%/yr vs 0.40%/yr for HBKS.L.
Performance
SAGG.L vs. HBKS.L - Performance Comparison
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Returns By Period
In the year-to-date period, SAGG.L achieves a -1.45% return, which is significantly lower than HBKS.L's 0.69% return.
SAGG.L
- 1D
- 0.26%
- 1M
- 1.02%
- YTD
- -1.45%
- 6M
- -1.68%
- 1Y
- 1.64%
- 3Y*
- 0.18%
- 5Y*
- 215.72%
- 10Y*
- —
HBKS.L
- 1D
- 0.31%
- 1M
- 1.60%
- YTD
- 0.69%
- 6M
- -0.44%
- 1Y
- 5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SAGG.L vs. HBKS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -1.45% | 0.53% | 0.03% | 4.18% |
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.69% | -0.34% | 4.48% | 1.79% |
Correlation
The correlation between SAGG.L and HBKS.L is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.67 |
The correlation between SAGG.L and HBKS.L has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.
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Return for Risk
SAGG.L vs. HBKS.L — Risk / Return Rank
SAGG.L
HBKS.L
SAGG.L vs. HBKS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) and HSBC Global Sukuk UCITS ETF C USD (HBKS.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.
| SAGG.L | HBKS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.13 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 0.96 | -0.64 |
| Martin ratioReturn relative to average drawdown | 0.63 | 2.08 | -1.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SAGG.L | HBKS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 0.73 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.35 | +0.63 |
Drawdowns
SAGG.L vs. HBKS.L - Drawdown Comparison
The maximum SAGG.L drawdown since its inception was -10.22%, which is greater than HBKS.L's maximum drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for SAGG.L and HBKS.L.
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Drawdown Indicators
| SAGG.L | HBKS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.22% | -8.09% | -2.13% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -5.33% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.71% | — | — |
Current DrawdownCurrent decline from peak | -3.93% | -2.83% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -2.41% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.46% | +0.15% |
Volatility
SAGG.L vs. HBKS.L - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) is 1.17%, while HSBC Global Sukuk UCITS ETF C USD (HBKS.L) has a volatility of 1.91%. This indicates that SAGG.L experiences smaller price fluctuations and is considered to be less risky than HBKS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAGG.L | HBKS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.91% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 5.27% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 7.00% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 475.05% | 6.93% | +468.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 485.36% | 6.93% | +478.43% |
SAGG.L vs. HBKS.L - Expense Ratio Comparison
SAGG.L has a 0.10% expense ratio, which is lower than HBKS.L's 0.40% expense ratio.
Dividends
SAGG.L vs. HBKS.L - Dividend Comparison
SAGG.L's dividend yield for the trailing twelve months is around 1.52%, while HBKS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 1.52% | 3.13% | 2.68% | 95.35% | 147.52% | 130.26% | 156.35% | 167.63% | 76.39% |
Frequently Asked Questions
SAGG.L and HBKS.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SAGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAGG.L is cheaper with a 0.10% expense ratio, compared with 0.40% for HBKS.L.
SAGG.L tracks Bloomberg Global Aggregate TR USD, while HBKS.L tracks FTSE IdealRatings Sukuk Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.10% for SAGG.L and 0.40% for HBKS.L.
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