BBAX vs. FLAX

Last updated Jun 24, 2026

BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) and FLAX (Franklin FTSE Asia ex Japan ETF) are both Asia Pacific Equities funds - BBAX tracks the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index while FLAX tracks the FTSE Asia ex Japan RIC Capped Index. Both are passively managed. Over the past 5 years, BBAX returned 4.79%/yr vs 7.35%/yr for FLAX. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.19% expense ratio.

Performance

BBAX vs. FLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and Franklin FTSE Asia ex Japan ETF (FLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAX achieves a 7.03% return, which is significantly lower than FLAX's 24.30% return.

BBAX

• 1D: -2.11%
• 1M: -2.67%
• YTD: 7.03%
• 6M: 5.44%
• 1Y: 15.68%
• 3Y*: 12.30%
• 5Y*: 4.79%
• 10Y*: —

FLAX

• 1D: -5.68%
• 1M: 2.36%
• YTD: 24.30%
• 6M: 25.58%
• 1Y: 48.51%
• 3Y*: 23.90%
• 5Y*: 7.35%
• 10Y*: —

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

BBAX vs. FLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	7.03%	20.21%	2.50%	5.60%	-4.80%	5.53%	8.02%	18.66%	-9.65%
FLAX Franklin FTSE Asia ex Japan ETF	24.30%	33.72%	9.82%	6.27%	-18.88%	-3.54%	24.17%	17.19%	-10.62%

Correlation

The correlation between BBAX and FLAX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.76

The correlation between BBAX and FLAX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

BBAX vs. FLAX - Sectors Allocation Comparison

Sectors	BBAX	FLAX
Financial Services	45.0%	15.6%
Basic Materials	17.5%	3.6%
Real Estate	8.4%	1.8%
Industrials	8.0%	8.2%
Consumer Cyclical	5.2%	9.1%
Healthcare	4.1%	2.9%
Utilities	3.2%	1.9%
Consumer Defensive	3.1%	2.4%
Energy	2.7%	2.5%
Communication Services	2.7%	5.6%
Technology	0.2%	46.4%

Return for Risk

BBAX vs. FLAX — Risk / Return Rank

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

BBAX

BBAX Risk / Return Rank: 32
BBAX Sharpe Ratio Rank: 30
BBAX Sortino Ratio Rank: 29
BBAX Omega Ratio Rank: 29
BBAX Calmar Ratio Rank: 37
BBAX Martin Ratio Rank: 37

FLAX

FLAX Risk / Return Rank: 75
FLAX Sharpe Ratio Rank: 74
FLAX Sortino Ratio Rank: 66
FLAX Omega Ratio Rank: 78
FLAX Calmar Ratio Rank: 78
FLAX Martin Ratio Rank: 78

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.

BBAX vs. FLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and Franklin FTSE Asia ex Japan ETF (FLAX). 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.

	BBAX	FLAX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	2.21	-1.17
Sortino ratio: Return per unit of downside risk	1.51	2.83	-1.32
Omega ratio: Gain probability vs. loss probability	1.19	1.43	-0.24
Calmar ratio: Return relative to maximum drawdown	1.75	3.75	-2.00
Martin ratio: Return relative to average drawdown	5.35	13.91	-8.57

BBAX vs. FLAX - Sharpe Ratio Comparison

The current BBAX Sharpe Ratio is 1.05, which is lower than the FLAX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of BBAX and FLAX, 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

BBAX vs. FLAX - Drawdown Comparison

The maximum BBAX drawdown since its inception was -39.64%, smaller than the maximum FLAX drawdown of -42.51%. Use the drawdown chart below to compare losses from any high point for BBAX and FLAX.

Drawdown Indicators

	BBAX	FLAX	Difference
Max Drawdown Largest peak-to-trough decline	-39.64%	-42.51%	+2.87%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-12.99%	+3.98%
Max Drawdown (3Y) Largest decline over 3 years	-20.12%	-19.29%	-0.83%
Max Drawdown (5Y) Largest decline over 5 years	-23.21%	-38.64%	+15.43%
Current Drawdown Current decline from peak	-6.22%	-5.68%	-0.54%
Average Drawdown Average peak-to-trough decline	-7.20%	-15.34%	+8.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.50%	-0.56%

Volatility

BBAX vs. FLAX - Volatility Comparison

The current volatility for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) is 5.61%, while Franklin FTSE Asia ex Japan ETF (FLAX) has a volatility of 12.58%. This indicates that BBAX experiences smaller price fluctuations and is considered to be less risky than FLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAX	FLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	12.58%	-6.97%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	19.97%	-7.23%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	22.02%	-6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	19.66%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	20.26%	-0.56%

BBAX vs. FLAX - Expense Ratio Comparison

Both BBAX and FLAX have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BBAX vs. FLAX - Dividend Comparison

BBAX's dividend yield for the trailing twelve months is around 3.70%, more than FLAX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	3.70%	3.86%	4.13%	4.17%	5.06%	5.47%	2.57%	4.07%	1.36%
FLAX Franklin FTSE Asia ex Japan ETF	1.46%	2.37%	3.12%	2.20%	2.86%	2.38%	1.57%	2.23%	2.35%

Frequently Asked Questions

Can I hold both BBAX and FLAX in my portfolio?

BBAX and FLAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBAX or FLAX?

FLAX has higher volatility (12.58%) compared to BBAX (5.61%). In terms of maximum drawdown, BBAX dropped -39.64% vs FLAX's -42.51%.

Which ETF is better, BBAX or FLAX?

On 5-year performance, FLAX leads with 7.35% vs 4.79% for BBAX. Both ETFs have the same 0.19% expense ratio. On volatility, BBAX has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBAX or FLAX?

Over the 5-year period, FLAX has performed better with a 7.35% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBAX or FLAX?

BBAX and FLAX have the same expense ratio: 0.19% per year.

Which ETF pays a higher dividend yield, BBAX or FLAX?

BBAX has the higher dividend yield at 3.70%, compared with 1.46% for FLAX.

What is the main difference between BBAX and FLAX?

BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while FLAX tracks FTSE Asia ex Japan RIC Capped Index. They also come from different issuers: JPMorgan and Franklin Templeton.

Which has better risk-adjusted returns?

FLAX currently has the higher Sharpe Ratio (2.21 vs 1.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.