CNAL.L vs. FLQA.L
CNAL.L (Lyxor Fortune SG UCITS MSCI China A DR) and FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF) are both China Equities funds - CNAL.L tracks the MSCI China A Onshore NR CNY while FLQA.L tracks the Franklin FTSE Asia ex China ex Japan UCITS ETF. Both are passively managed. Over the past 5 years, CNAL.L returned -0.39%/yr vs 13.42%/yr for FLQA.L. At a 0.49 correlation, their price movements are largely independent. CNAL.L charges 0.35%/yr vs 0.14%/yr for FLQA.L.
Performance
CNAL.L vs. FLQA.L - Performance Comparison
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Different Trading Currencies
CNAL.L is traded in GBp, while FLQA.L is traded in USD. To make them comparable, the FLQA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNAL.L achieves a 6.41% return, which is significantly lower than FLQA.L's 34.31% return.
CNAL.L
- 1D
- -0.84%
- 1M
- -3.11%
- 6M
- 3.34%
- YTD
- 6.41%
- 1Y
- 27.12%
- 3Y*
- 9.00%
- 5Y*
- -0.39%
- 10Y*
- 4.29%
FLQA.L
- 1D
- 0.00%
- 1M
- -8.33%
- 6M
- 28.04%
- YTD
- 34.31%
- 1Y
- 53.31%
- 3Y*
- 24.46%
- 5Y*
- 13.42%
- 10Y*
- —
CNAL.L vs. FLQA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CNAL.L Lyxor Fortune SG UCITS MSCI China A DR | 6.41% | 17.54% | 12.76% | -18.90% | -17.14% | 4.51% | 37.96% | 32.57% | -9.24% |
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF | 34.31% | 20.59% | 9.64% | 6.42% | -2.58% | 5.56% | 3.57% | 5.57% | -3.45% |
Correlation
The correlation between CNAL.L and FLQA.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.49 |
The correlation between CNAL.L and FLQA.L shifts across timeframes, from 0.31 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNAL.L vs. FLQA.L — Risk / Return Rank
CNAL.L
FLQA.L
CNAL.L vs. FLQA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Fortune SG UCITS MSCI China A DR (CNAL.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.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.
| CNAL.L | FLQA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.40 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 4.12 | -0.99 |
| Martin ratioReturn relative to average drawdown | 9.22 | 12.65 | -3.43 |
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Drawdowns
CNAL.L vs. FLQA.L - Drawdown Comparison
The maximum CNAL.L drawdown since its inception was -51.00%, which is greater than FLQA.L's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for CNAL.L and FLQA.L.
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Drawdown Indicators
| CNAL.L | FLQA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.00% | -20.97% | -30.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -12.89% | +4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -26.58% | -19.58% | -7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -42.38% | -19.58% | -22.80% |
Max Drawdown (10Y)Largest decline over 10 years | -45.10% | — | — |
Current DrawdownCurrent decline from peak | -13.52% | -12.89% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -26.74% | -4.05% | -22.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 4.20% | -1.27% |
Volatility
CNAL.L vs. FLQA.L - Volatility Comparison
The current volatility for Lyxor Fortune SG UCITS MSCI China A DR (CNAL.L) is 8.67%, while Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.L) has a volatility of 11.00%. This indicates that CNAL.L experiences smaller price fluctuations and is considered to be less risky than FLQA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNAL.L | FLQA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.67% | 11.00% | -2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.50% | 21.81% | -8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.85% | 23.95% | -6.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.66% | 16.59% | +5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 17.86% | +4.17% |
CNAL.L vs. FLQA.L - Expense Ratio Comparison
CNAL.L has a 0.35% expense ratio, which is higher than FLQA.L's 0.14% expense ratio.
Dividends
CNAL.L vs. FLQA.L - Dividend Comparison
Neither CNAL.L nor FLQA.L has paid dividends to shareholders.
Frequently Asked Questions
CNAL.L and FLQA.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLQA.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLQA.L is cheaper with a 0.14% expense ratio, compared with 0.35% for CNAL.L.
CNAL.L tracks MSCI China A Onshore NR CNY, while FLQA.L tracks Franklin FTSE Asia ex China ex Japan UCITS ETF. They also come from different issuers: Amundi and Franklin. Their fees differ too: 0.35% for CNAL.L and 0.14% for FLQA.L.
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