SPAG.L vs. HKOD.L
SPAG.L (iShares Agribusiness UCITS ETF USD (Acc)) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - SPAG.L tracks the iShares Agribusiness UCITS ETF USD (Acc) while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, SPAG.L returned 7.09%/yr vs 14.29%/yr for HKOD.L. At a 0.45 correlation, their price movements are largely independent. SPAG.L charges 0.55%/yr vs 0.50%/yr for HKOD.L.
Performance
SPAG.L vs. HKOD.L - Performance Comparison
Loading charts...
Different Trading Currencies
SPAG.L is traded in GBp, while HKOD.L is traded in USD. To make them comparable, the HKOD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPAG.L achieves a 11.48% return, which is significantly lower than HKOD.L's 72.55% return. Over the past 10 years, SPAG.L has underperformed HKOD.L with an annualized return of 7.09%, while HKOD.L has yielded a comparatively higher 14.29% annualized return.
SPAG.L
- 1D
- 0.56%
- 1M
- 0.75%
- 6M
- 5.38%
- YTD
- 11.48%
- 1Y
- 13.71%
- 3Y*
- 4.36%
- 5Y*
- 5.00%
- 10Y*
- 7.09%
HKOD.L
- 1D
- 0.00%
- 1M
- -19.96%
- 6M
- 54.32%
- YTD
- 72.55%
- 1Y
- 140.31%
- 3Y*
- 37.06%
- 5Y*
- 15.49%
- 10Y*
- 14.29%
SPAG.L vs. HKOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 11.48% | 8.75% | -4.21% | -13.78% | 15.09% | 24.65% | 6.64% | 13.92% | -7.95% | 9.25% |
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 72.55% | 85.32% | -21.55% | 13.96% | -19.93% | -7.62% | 40.82% | 6.43% | -16.38% | 33.19% |
Correlation
The correlation between SPAG.L and HKOD.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.45 |
Over the past year, the correlation between SPAG.L and HKOD.L has dropped to 0.04 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPAG.L vs. HKOD.L — Risk / Return Rank
SPAG.L
HKOD.L
SPAG.L vs. HKOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) and HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.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.
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.
| SPAG.L | HKOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.47 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 5.73 | -4.14 |
| Martin ratioReturn relative to average drawdown | 4.12 | 18.17 | -14.05 |
Loading charts...
Drawdowns
SPAG.L vs. HKOD.L - Drawdown Comparison
The maximum SPAG.L drawdown since its inception was -43.95%, roughly equal to the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for SPAG.L and HKOD.L.
Loading charts...
Drawdown Indicators
| SPAG.L | HKOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.95% | -44.38% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -24.53% | +14.97% |
Max Drawdown (3Y)Largest decline over 3 years | -27.60% | -29.12% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -31.95% | -39.67% | +7.72% |
Max Drawdown (10Y)Largest decline over 10 years | -31.95% | -44.38% | +12.43% |
Current DrawdownCurrent decline from peak | -10.54% | -24.53% | +13.99% |
Average DrawdownAverage peak-to-trough decline | -17.43% | -15.51% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 7.76% | -4.04% |
Volatility
SPAG.L vs. HKOD.L - Volatility Comparison
The current volatility for iShares Agribusiness UCITS ETF USD (Acc) (SPAG.L) is 3.21%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.24%. This indicates that SPAG.L experiences smaller price fluctuations and is considered to be less risky than HKOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPAG.L | HKOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 20.24% | -17.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 40.06% | -30.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.82% | 43.91% | -31.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 28.07% | -7.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 25.99% | -7.03% |
SPAG.L vs. HKOD.L - Expense Ratio Comparison
SPAG.L has a 0.55% expense ratio, which is higher than HKOD.L's 0.50% expense ratio.
Dividends
SPAG.L vs. HKOD.L - Dividend Comparison
SPAG.L has not paid dividends to shareholders, while HKOD.L's dividend yield for the trailing twelve months is around 0.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HKOD.L HSBC MSCI KOREA CAPPED UCITS ETF | 0.43% | 0.68% | 1.54% | 1.08% | 0.72% | 0.61% | 0.02% | 0.29% | 0.56% | 0.10% |
SPAG.L iShares Agribusiness UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPAG.L and HKOD.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HKOD.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HKOD.L is cheaper with a 0.50% expense ratio, compared with 0.55% for SPAG.L.
SPAG.L tracks iShares Agribusiness UCITS ETF USD (Acc), while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.55% for SPAG.L and 0.50% for HKOD.L.
Find the right allocation for SPAG.L and HKOD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer