EL46.DE vs. FLXC.DE

Last updated Jun 5, 2026

EL46.DE (Deka MSCI China ex A Shares UCITS ETF) and FLXC.DE (Franklin FTSE China UCITS ETF) are both China Equities funds - EL46.DE tracks the MSCI China ex A Shares while FLXC.DE tracks the FTSE China 30/18 Capped. Both are passively managed. Over the past 5 years, EL46.DE returned -5.27%/yr vs -3.95%/yr for FLXC.DE. Their correlation of 0.93 suggests significant overlap in exposure. EL46.DE charges 0.66%/yr vs 0.19%/yr for FLXC.DE.

Performance

EL46.DE vs. FLXC.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka MSCI China ex A Shares UCITS ETF (EL46.DE) and Franklin FTSE China UCITS ETF (FLXC.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL46.DE achieves a -10.01% return, which is significantly lower than FLXC.DE's -5.94% return.

EL46.DE

• 1D: -0.11%
• 1M: -3.80%
• YTD: -10.01%
• 6M: -12.17%
• 1Y: -2.40%
• 3Y*: 6.90%
• 5Y*: -5.27%
• 10Y*: 3.87%

FLXC.DE

• 1D: -0.40%
• 1M: -2.37%
• YTD: -5.94%
• 6M: -7.13%
• 1Y: 4.76%
• 3Y*: 7.94%
• 5Y*: -3.95%
• 10Y*: —

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

EL46.DE vs. FLXC.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EL46.DE Deka MSCI China ex A Shares UCITS ETF	-10.01%	17.77%	27.71%	-14.54%	-13.52%	-21.82%	14.00%	20.38%
FLXC.DE Franklin FTSE China UCITS ETF	-5.94%	17.34%	27.28%	-15.77%	-15.90%	-14.60%	16.83%	19.48%

Correlation

The correlation between EL46.DE and FLXC.DE is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 6, 2019	0.93

The correlation between EL46.DE and FLXC.DE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

EL46.DE vs. FLXC.DE — Risk / Return Rank

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

EL46.DE

EL46.DE Risk / Return Rank: 8
EL46.DE Sharpe Ratio Rank: 8
EL46.DE Sortino Ratio Rank: 8
EL46.DE Omega Ratio Rank: 8
EL46.DE Calmar Ratio Rank: 8
EL46.DE Martin Ratio Rank: 8

FLXC.DE

FLXC.DE Risk / Return Rank: 13
FLXC.DE Sharpe Ratio Rank: 13
FLXC.DE Sortino Ratio Rank: 13
FLXC.DE Omega Ratio Rank: 13
FLXC.DE Calmar Ratio Rank: 13
FLXC.DE Martin Ratio Rank: 12

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.

EL46.DE vs. FLXC.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka MSCI China ex A Shares UCITS ETF (EL46.DE) and Franklin FTSE China UCITS ETF (FLXC.DE). 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.

	EL46.DE	FLXC.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	0.27	-0.39
Sortino ratio: Return per unit of downside risk	-0.03	0.50	-0.53
Omega ratio: Gain probability vs. loss probability	1.00	1.06	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.11	0.31	-0.43
Martin ratio: Return relative to average drawdown	-0.24	0.64	-0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EL46.DE vs. FLXC.DE - Sharpe Ratio Comparison

The current EL46.DE Sharpe Ratio is -0.12, which is lower than the FLXC.DE Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of EL46.DE and FLXC.DE, 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

	EL46.DE	FLXC.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	0.27	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	-0.15	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.09	+0.02

Drawdowns

EL46.DE vs. FLXC.DE - Drawdown Comparison

The maximum EL46.DE drawdown since its inception was -58.21%, roughly equal to the maximum FLXC.DE drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for EL46.DE and FLXC.DE.

Drawdown Indicators

	EL46.DE	FLXC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-58.21%	-55.61%	-2.60%
Max Drawdown (1Y) Largest decline over 1 year	-21.01%	-15.19%	-5.82%
Max Drawdown (3Y) Largest decline over 3 years	-25.65%	-24.70%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-51.07%	-49.07%	-2.00%
Max Drawdown (10Y) Largest decline over 10 years	-58.21%	—	—
Current Drawdown Current decline from peak	-36.65%	-30.89%	-5.76%
Average Drawdown Average peak-to-trough decline	-22.26%	-27.95%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.96%	7.38%	+2.58%

Volatility

EL46.DE vs. FLXC.DE - Volatility Comparison

Deka MSCI China ex A Shares UCITS ETF (EL46.DE) has a higher volatility of 8.28% compared to Franklin FTSE China UCITS ETF (FLXC.DE) at 6.78%. This indicates that EL46.DE's price experiences larger fluctuations and is considered to be riskier than FLXC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL46.DE	FLXC.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.28%	6.78%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	15.15%	12.35%	+2.80%
Volatility (1Y) Calculated over the trailing 1-year period	19.97%	17.78%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.36%	26.71%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.53%	26.20%	+1.33%

EL46.DE vs. FLXC.DE - Expense Ratio Comparison

EL46.DE has a 0.66% expense ratio, which is higher than FLXC.DE's 0.19% expense ratio.

Dividends

EL46.DE vs. FLXC.DE - Dividend Comparison

EL46.DE's dividend yield for the trailing twelve months is around 1.52%, while FLXC.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL46.DE Deka MSCI China ex A Shares UCITS ETF	1.52%	1.43%	2.06%	2.03%	1.78%	1.22%	0.86%	1.26%	1.62%	0.94%	1.98%	2.32%
FLXC.DE Franklin FTSE China UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EL46.DE and FLXC.DE in my portfolio?

EL46.DE and FLXC.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL46.DE or FLXC.DE?

On fees, FLXC.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EL46.DE or FLXC.DE?

FLXC.DE is cheaper with a 0.19% expense ratio, compared with 0.66% for EL46.DE.

What is the main difference between EL46.DE and FLXC.DE?

EL46.DE tracks MSCI China ex A Shares, while FLXC.DE tracks FTSE China 30/18 Capped. They also come from different issuers: Deka Investment GmbH and Franklin Templeton. Their fees differ too: 0.66% for EL46.DE and 0.19% for FLXC.DE.