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SFY.AX vs. IKO.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SFY.AX vs. IKO.AX

Last updated Jul 16, 2026
Documentation

SFY.AX (SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF) and IKO.AX (iShares MSCI South Korea ETF (AU)) are both Global Equities funds - SFY.AX tracks the SPDR Index while IKO.AX tracks the iShares MSCI South Korea Index. Both are passively managed. Over the past 10 years, SFY.AX returned 8.93%/yr vs 14.97%/yr for IKO.AX. At a 0.36 correlation, their price movements are largely independent.

Performance

SFY.AX vs. IKO.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) and iShares MSCI South Korea ETF (AU) (IKO.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SFY.AX achieves a 5.64% return, which is significantly lower than IKO.AX's 64.31% return. Over the past 10 years, SFY.AX has underperformed IKO.AX with an annualized return of 8.93%, while IKO.AX has yielded a comparatively higher 14.97% annualized return.

SFY.AX

1D
0.16%
1M
-0.09%
6M
5.09%
YTD
5.64%
1Y
5.96%
3Y*
10.63%
5Y*
8.17%
10Y*
8.93%

IKO.AX

1D
-7.36%
1M
-17.70%
6M
49.12%
YTD
64.31%
1Y
119.84%
3Y*
37.01%
5Y*
16.67%
10Y*
14.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SFY.AX vs. IKO.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SFY.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF		5.64%7.36%11.46%12.65%1.60%16.17%-1.66%24.22%-1.86%9.06%
IKO.AX
iShares MSCI South Korea ETF (AU)		64.31%80.87%-12.63%16.96%-20.13%-2.25%29.64%7.29%-11.42%30.24%

Correlation

The correlation between SFY.AX and IKO.AX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.41

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (10Y)
Calculated over the trailing 10-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2007

0.36

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SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF

iShares MSCI South Korea ETF (AU)

Return for Risk

SFY.AX vs. IKO.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SFY.AX
SFY.AX Risk / Return Rank: 2121
Overall Rank
SFY.AX Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
SFY.AX Sortino Ratio Rank: 2020
Sortino Ratio Rank
SFY.AX Omega Ratio Rank: 1919
Omega Ratio Rank
SFY.AX Calmar Ratio Rank: 2424
Calmar Ratio Rank
SFY.AX Martin Ratio Rank: 2121
Martin Ratio Rank
IKO.AX
IKO.AX Risk / Return Rank: 8787
Overall Rank
IKO.AX Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
IKO.AX Sortino Ratio Rank: 7878
Sortino Ratio Rank
IKO.AX Omega Ratio Rank: 8484
Omega Ratio Rank
IKO.AX Calmar Ratio Rank: 9393
Calmar Ratio Rank
IKO.AX Martin Ratio Rank: 8989
Martin Ratio Rank
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.

SFY.AX vs. IKO.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) and iShares MSCI South Korea ETF (AU) (IKO.AX). 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.

SFY.AXIKO.AXDifference
Sharpe ratioReturn per unit of total volatility
0.57
2.52

-1.96

Sortino ratioReturn per unit of downside risk
0.91
2.80

-1.88

Omega ratioGain probability vs. loss probability

1.11

1.40

-0.29

Calmar ratioReturn relative to maximum drawdown

0.97

5.18

-4.22

Martin ratioReturn relative to average drawdown

2.05

15.73

-13.67

SFY.AX vs. IKO.AX - Sharpe Ratio Comparison

The current SFY.AX Sharpe Ratio is 0.57, which is lower than the IKO.AX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SFY.AX and IKO.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SFY.AX vs. IKO.AX - Drawdown Comparison

The maximum SFY.AX drawdown since its inception was -48.20%, smaller than the maximum IKO.AX drawdown of -57.74%. Use the drawdown chart below to compare losses from any high point for SFY.AX and IKO.AX.

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Drawdown Indicators

SFY.AXIKO.AXDifference

Max Drawdown

Largest peak-to-trough decline

-48.20%

-57.74%

+9.54%

Max Drawdown (1Y)

Largest decline over 1 year

-7.39%

-22.15%

+14.76%

Max Drawdown (3Y)

Largest decline over 3 years

-12.86%

-22.15%

+9.29%

Max Drawdown (5Y)

Largest decline over 5 years

-14.21%

-39.03%

+24.82%

Max Drawdown (10Y)

Largest decline over 10 years

-32.98%

-39.50%

+6.52%

Current Drawdown

Current decline from peak

-1.63%

-22.11%

+20.48%

Average Drawdown

Average peak-to-trough decline

-9.33%

-17.29%

+7.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.53%

7.43%

-3.90%

Volatility

SFY.AX vs. IKO.AX - Volatility Comparison

The current volatility for SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) is 2.61%, while iShares MSCI South Korea ETF (AU) (IKO.AX) has a volatility of 21.99%. This indicates that SFY.AX experiences smaller price fluctuations and is considered to be less risky than IKO.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SFY.AXIKO.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.61%

21.99%

-19.38%

Volatility (6M)

Calculated over the trailing 6-month period

9.82%

42.47%

-32.65%

Volatility (1Y)

Calculated over the trailing 1-year period

12.67%

45.53%

-32.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.78%

27.00%

-14.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.65%

23.38%

-8.73%

Dividends

SFY.AX vs. IKO.AX - Dividend Comparison

SFY.AX's dividend yield for the trailing twelve months is around 3.85%, less than IKO.AX's 5.85% yield.

PositionTTM20252024202320222021202020192018201720162015
IKO.AX
iShares MSCI South Korea ETF (AU)		5.85%0.93%3.03%1.08%1.86%0.87%1.84%1.44%0.00%0.75%1.85%1.07%
SFY.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF		3.85%3.60%4.04%4.16%6.09%3.95%2.73%4.85%5.07%4.60%4.82%4.34%

Frequently Asked Questions

SFY.AX and IKO.AX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SFY.AX tracks SPDR Index, while IKO.AX tracks iShares MSCI South Korea Index. They also come from different issuers: SPDR and iShares.

Portfolio Optimizer

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