Knockout html vs text binding

HTML

<div id="container">
    text binding will display the original text as is
    <div data-bind="text:fragment"></div>
    <hr>
    html binding will parse the original text as html
    <div data-bind="html:fragment"></div>
</div>

JavaScript

(function() {
    'use strict';
    
    function ViewModel() {
        var self = this;
        self.test = 'testsetsetsetset'
        self.fragment = '<p>&copy;Hello</p><p data-bind="text: test">&raquo;World!&laquo;</p>';
    }
    
    ko.applyBindings(new ViewModel(), document.getElementById('container'));
}());