EMAD.L vs. FLXK.L
EMAD.L (State Street SPDR MSCI EM Asia UCITS ETF USD (Acc)) and FLXK.L (Franklin FTSE Korea UCITS ETF USD (Acc)) are both exchange-traded funds - EMAD.L is a Asia Pacific Equities fund tracking the MSCI EM (Emerging Markets) Asia Index, while FLXK.L is a South Korea Equities fund tracking the FTSE Korea 30/18 Capped Index (Net Return). Both are passively managed. Over the past 5 years, EMAD.L returned 6.07%/yr vs 15.20%/yr for FLXK.L. Their correlation of 0.80 suggests significant overlap in exposure. EMAD.L charges 0.55%/yr vs 0.09%/yr for FLXK.L.
Performance
EMAD.L vs. FLXK.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMAD.L achieves a 18.88% return, which is significantly lower than FLXK.L's 71.91% return.
EMAD.L
- 1D
- -2.28%
- 1M
- -11.14%
- 6M
- 11.94%
- YTD
- 18.88%
- 1Y
- 31.93%
- 3Y*
- 20.12%
- 5Y*
- 6.07%
- 10Y*
- 9.49%
FLXK.L
- 1D
- -2.04%
- 1M
- -22.39%
- 6M
- 50.11%
- YTD
- 71.91%
- 1Y
- 137.12%
- 3Y*
- 38.47%
- 5Y*
- 15.20%
- 10Y*
- —
EMAD.L vs. FLXK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMAD.L State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) | 18.88% | 32.13% | 11.12% | 6.54% | -21.75% | -6.15% | 28.24% | 13.61% |
FLXK.L Franklin FTSE Korea UCITS ETF USD (Acc) | 71.91% | 94.79% | -21.63% | 20.77% | -28.01% | -6.85% | 47.31% | 13.27% |
Correlation
The correlation between EMAD.L and FLXK.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.80 |
The correlation between EMAD.L and FLXK.L has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
EMAD.L vs. FLXK.L — Risk / Return Rank
EMAD.L
FLXK.L
EMAD.L vs. FLXK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.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.
| EMAD.L | FLXK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.45 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 5.32 | -2.95 |
| Martin ratioReturn relative to average drawdown | 6.96 | 17.39 | -10.43 |
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Drawdowns
EMAD.L vs. FLXK.L - Drawdown Comparison
The maximum EMAD.L drawdown since its inception was -46.17%, smaller than the maximum FLXK.L drawdown of -49.43%. Use the drawdown chart below to compare losses from any high point for EMAD.L and FLXK.L.
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Drawdown Indicators
| EMAD.L | FLXK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.17% | -49.43% | +3.26% |
Max Drawdown (1Y)Largest decline over 1 year | -13.45% | -25.64% | +12.19% |
Max Drawdown (3Y)Largest decline over 3 years | -20.03% | -28.54% | +8.51% |
Max Drawdown (5Y)Largest decline over 5 years | -38.79% | -47.00% | +8.21% |
Max Drawdown (10Y)Largest decline over 10 years | -46.17% | — | — |
Current DrawdownCurrent decline from peak | -13.45% | -25.64% | +12.19% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -20.23% | +5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 7.86% | -3.28% |
Volatility
EMAD.L vs. FLXK.L - Volatility Comparison
The current volatility for State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) is 9.76%, while Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) has a volatility of 18.88%. This indicates that EMAD.L experiences smaller price fluctuations and is considered to be less risky than FLXK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMAD.L | FLXK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.76% | 18.88% | -9.12% |
Volatility (6M)Calculated over the trailing 6-month period | 21.25% | 41.57% | -20.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.65% | 45.12% | -21.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.82% | 29.63% | -8.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.16% | 29.60% | -9.44% |
EMAD.L vs. FLXK.L - Expense Ratio Comparison
EMAD.L has a 0.55% expense ratio, which is higher than FLXK.L's 0.09% expense ratio.
Dividends
EMAD.L vs. FLXK.L - Dividend Comparison
Neither EMAD.L nor FLXK.L has paid dividends to shareholders.
Frequently Asked Questions
EMAD.L and FLXK.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLXK.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXK.L is cheaper with a 0.09% expense ratio, compared with 0.55% for EMAD.L.
EMAD.L is categorized as Asia Pacific Equities, while FLXK.L is South Korea Equities. EMAD.L tracks MSCI EM (Emerging Markets) Asia Index, while FLXK.L tracks FTSE Korea 30/18 Capped Index (Net Return). They also come from different issuers: State Street and Franklin. Their fees differ too: 0.55% for EMAD.L and 0.09% for FLXK.L.
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