UQLT.L vs. HKOD.L

Last updated Jul 16, 2026

UQLT.L (UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis) and HKOD.L (HSBC MSCI KOREA CAPPED UCITS ETF) are both Global Equities funds - UQLT.L tracks the UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis while HKOD.L tracks the HSBC MSCI KOREA CAPPED UCITS ETF. Both are passively managed. Over the past 10 years, UQLT.L returned 14.45%/yr vs 14.29%/yr for HKOD.L. A 0.51 correlation means they provide meaningful diversification when combined. UQLT.L charges 0.30%/yr vs 0.50%/yr for HKOD.L.

Performance

UQLT.L vs. HKOD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis (UQLT.L) and HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UQLT.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, UQLT.L achieves a 10.52% return, which is significantly lower than HKOD.L's 72.55% return. Both investments have delivered pretty close results over the past 10 years, with UQLT.L having a 14.45% annualized return and HKOD.L not far behind at 14.29%.

UQLT.L

• 1D: -0.05%
• 1M: 0.74%
• 6M: 10.07%
• YTD: 10.52%
• 1Y: 24.09%
• 3Y*: 18.97%
• 5Y*: 11.28%
• 10Y*: 14.45%

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%

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

UQLT.L vs. HKOD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis	10.52%	17.64%	20.58%	33.76%	-25.29%	27.69%	19.02%	34.52%	-6.09%	23.49%
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 UQLT.L and HKOD.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 1, 2016	0.51

The correlation between UQLT.L and HKOD.L has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

Return for Risk

UQLT.L vs. HKOD.L — Risk / Return Rank

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

UQLT.L

UQLT.L Risk / Return Rank: 67
UQLT.L Sharpe Ratio Rank: 71
UQLT.L Sortino Ratio Rank: 77
UQLT.L Omega Ratio Rank: 68
UQLT.L Calmar Ratio Rank: 53
UQLT.L Martin Ratio Rank: 64

HKOD.L

HKOD.L Risk / Return Rank: 92
HKOD.L Sharpe Ratio Rank: 96
HKOD.L Sortino Ratio Rank: 87
HKOD.L Omega Ratio Rank: 90
HKOD.L Calmar Ratio Rank: 94
HKOD.L Martin Ratio Rank: 92

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.

UQLT.L vs. HKOD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis (UQLT.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.

	UQLT.L	HKOD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.82	3.20	-1.38
Sortino ratio: Return per unit of downside risk	2.75	3.31	-0.56
Omega ratio: Gain probability vs. loss probability	1.32	1.47	-0.15
Calmar ratio: Return relative to maximum drawdown	2.17	5.73	-3.56
Martin ratio: Return relative to average drawdown	9.08	18.17	-9.09

UQLT.L vs. HKOD.L - Sharpe Ratio Comparison

The current UQLT.L Sharpe Ratio is 1.82, which is lower than the HKOD.L Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of UQLT.L and HKOD.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.

Drawdowns

UQLT.L vs. HKOD.L - Drawdown Comparison

The maximum UQLT.L drawdown since its inception was -33.41%, smaller than the maximum HKOD.L drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for UQLT.L and HKOD.L.

Drawdown Indicators

	UQLT.L	HKOD.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.41%	-44.38%	+10.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-24.53%	+12.90%
Max Drawdown (3Y) Largest decline over 3 years	-21.34%	-29.12%	+7.78%
Max Drawdown (5Y) Largest decline over 5 years	-31.53%	-39.67%	+8.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.41%	-44.38%	+10.97%
Current Drawdown Current decline from peak	-0.42%	-24.53%	+24.11%
Average Drawdown Average peak-to-trough decline	-5.41%	-15.51%	+10.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	7.76%	-4.98%

Volatility

UQLT.L vs. HKOD.L - Volatility Comparison

The current volatility for UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis (UQLT.L) is 3.86%, while HSBC MSCI KOREA CAPPED UCITS ETF (HKOD.L) has a volatility of 20.24%. This indicates that UQLT.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.

Volatility by Period

	UQLT.L	HKOD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	20.24%	-16.38%
Volatility (6M) Calculated over the trailing 6-month period	10.93%	40.06%	-29.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.88%	43.91%	-30.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	28.07%	-10.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	25.99%	-8.51%

UQLT.L vs. HKOD.L - Expense Ratio Comparison

UQLT.L has a 0.30% expense ratio, which is lower than HKOD.L's 0.50% expense ratio.

Dividends

UQLT.L vs. HKOD.L - Dividend Comparison

UQLT.L's dividend yield for the trailing twelve months is around 0.22%, less than HKOD.L's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
UQLT.L UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis	0.22%	0.54%	0.30%	0.78%	0.81%	0.70%	0.86%	0.93%	1.24%	1.04%	0.65%

Frequently Asked Questions

Can I hold both UQLT.L and HKOD.L in my portfolio?

UQLT.L and HKOD.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UQLT.L or HKOD.L?

On fees, UQLT.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UQLT.L or HKOD.L?

UQLT.L is cheaper with a 0.30% expense ratio, compared with 0.50% for HKOD.L.

What is the main difference between UQLT.L and HKOD.L?

UQLT.L tracks UBS Factor MSCI USA Quality Screened UCITS ETF hGBP dis, while HKOD.L tracks HSBC MSCI KOREA CAPPED UCITS ETF. They also come from different issuers: UBS and HSBC. Their fees differ too: 0.30% for UQLT.L and 0.50% for HKOD.L.