XKS2.L vs. KRWL.L

Last updated Jun 5, 2026

XKS2.L (Xtrackers MSCI Korea UCITS ETF 1C) and KRWL.L (Lyxor MSCI Korea UCITS ETF - Acc) are both Asia Pacific Equities funds tracking the MSCI Korea NR USD, from Xtrackers and Amundi respectively. Both are passively managed. Over the past 5 years, XKS2.L returned 19.87%/yr vs 19.95%/yr for KRWL.L. With a 0.97 correlation, they move nearly in lockstep. XKS2.L charges 0.65%/yr vs 0.45%/yr for KRWL.L.

Performance

XKS2.L vs. KRWL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and Lyxor MSCI Korea UCITS ETF - Acc (KRWL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XKS2.L having a 107.22% return and KRWL.L slightly lower at 106.66%.

XKS2.L

• 1D: -4.89%
• 1M: 17.08%
• YTD: 107.22%
• 6M: 125.61%
• 1Y: 237.24%
• 3Y*: 45.20%
• 5Y*: 19.87%
• 10Y*: 17.87%

KRWL.L

• 1D: -4.89%
• 1M: 16.79%
• YTD: 106.66%
• 6M: 125.77%
• 1Y: 237.10%
• 3Y*: 45.48%
• 5Y*: 19.95%
• 10Y*: —

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

XKS2.L vs. KRWL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C	107.22%	85.79%	-21.66%	13.44%	-19.57%	-7.21%	38.65%	7.36%	-11.96%
KRWL.L Lyxor MSCI Korea UCITS ETF - Acc	106.66%	86.86%	-21.27%	13.04%	-19.64%	-7.54%	38.43%	7.15%	-12.12%

Correlation

The correlation between XKS2.L and KRWL.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018	0.97

The correlation between XKS2.L and KRWL.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

XKS2.L vs. KRWL.L - Sectors Allocation Comparison

Sectors	XKS2.L	KRWL.L
Technology	56.0%	42.8%
Industrials	18.7%	4.1%
Financial Services	9.2%	1.8%
Consumer Cyclical	5.7%	10.8%
Healthcare	3.0%	12.8%
Communication Services	2.6%	11.7%
Basic Materials	2.0%	0.4%
Consumer Defensive	1.4%	10.1%
Energy	1.1%	1.2%
Utilities	0.4%	2.1%
Real Estate	-	2.0%

Return for Risk

XKS2.L vs. KRWL.L — Risk / Return Rank

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

XKS2.L

XKS2.L Risk / Return Rank: 97
XKS2.L Sharpe Ratio Rank: 99
XKS2.L Sortino Ratio Rank: 97
XKS2.L Omega Ratio Rank: 97
XKS2.L Calmar Ratio Rank: 97
XKS2.L Martin Ratio Rank: 97

KRWL.L

KRWL.L Risk / Return Rank: 97
KRWL.L Sharpe Ratio Rank: 99
KRWL.L Sortino Ratio Rank: 96
KRWL.L Omega Ratio Rank: 96
KRWL.L Calmar Ratio Rank: 97
KRWL.L Martin Ratio Rank: 96

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.

XKS2.L vs. KRWL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and Lyxor MSCI Korea UCITS ETF - Acc (KRWL.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.

	XKS2.L	KRWL.L	Difference
Sharpe ratio: Return per unit of total volatility	6.41	6.22	+0.19
Sortino ratio: Return per unit of downside risk	5.85	5.50	+0.35
Omega ratio: Gain probability vs. loss probability	1.85	1.80	+0.05
Calmar ratio: Return relative to maximum drawdown	11.05	10.93	+0.12
Martin ratio: Return relative to average drawdown	39.18	38.59	+0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XKS2.L vs. KRWL.L - Sharpe Ratio Comparison

The current XKS2.L Sharpe Ratio is 6.41, which is comparable to the KRWL.L Sharpe Ratio of 6.22. The chart below compares the historical Sharpe Ratios of XKS2.L and KRWL.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

	XKS2.L	KRWL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.41	6.22	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.78	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.61	-0.23

Drawdowns

XKS2.L vs. KRWL.L - Drawdown Comparison

The maximum XKS2.L drawdown since its inception was -62.63%, which is greater than KRWL.L's maximum drawdown of -44.10%. Use the drawdown chart below to compare losses from any high point for XKS2.L and KRWL.L.

Drawdown Indicators

	XKS2.L	KRWL.L	Difference
Max Drawdown Largest peak-to-trough decline	-62.63%	-44.10%	-18.53%
Max Drawdown (1Y) Largest decline over 1 year	-21.33%	-21.55%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-28.70%	-28.42%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-40.70%	-40.54%	-0.16%
Max Drawdown (10Y) Largest decline over 10 years	-44.01%	—	—
Current Drawdown Current decline from peak	-5.27%	-5.36%	+0.09%
Average Drawdown Average peak-to-trough decline	-15.75%	-19.40%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.03%	6.11%	-0.08%

Volatility

XKS2.L vs. KRWL.L - Volatility Comparison

Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and Lyxor MSCI Korea UCITS ETF - Acc (KRWL.L) have volatilities of 17.29% and 17.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XKS2.L	KRWL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.29%	17.51%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	32.10%	32.27%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	36.79%	37.87%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.17%	25.51%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.35%	25.79%	-1.44%

XKS2.L vs. KRWL.L - Expense Ratio Comparison

XKS2.L has a 0.65% expense ratio, which is higher than KRWL.L's 0.45% expense ratio.

Dividends

XKS2.L vs. KRWL.L - Dividend Comparison

Neither XKS2.L nor KRWL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XKS2.L and KRWL.L in my portfolio?

With a correlation of 0.93, XKS2.L and KRWL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XKS2.L or KRWL.L?

On fees, KRWL.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XKS2.L or KRWL.L?

KRWL.L is cheaper with a 0.45% expense ratio, compared with 0.65% for XKS2.L.

What is the main difference between XKS2.L and KRWL.L?

Both ETFs track MSCI Korea NR USD. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.65% for XKS2.L and 0.45% for KRWL.L.