EMAD.L vs. FRXT.L
EMAD.L (State Street SPDR MSCI EM Asia UCITS ETF USD (Acc)) and FRXT.L (Franklin FTSE Taiwan UCITS ETF) are both exchange-traded funds - EMAD.L is a Asia Pacific Equities fund tracking the MSCI EM (Emerging Markets) Asia Index, while FRXT.L is a Taiwan Equities fund tracking the MSCI Taiwan NR USD. Both are passively managed. Over the past 3 years, EMAD.L returned 20.83%/yr vs 41.24%/yr for FRXT.L. A 0.75 correlation means they provide meaningful diversification when combined. EMAD.L charges 0.55%/yr vs 0.19%/yr for FRXT.L.
Performance
EMAD.L vs. FRXT.L - Performance Comparison
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Different Trading Currencies
EMAD.L is traded in USD, while FRXT.L is traded in GBP. To make them comparable, the FRXT.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMAD.L achieves a 21.59% return, which is significantly lower than FRXT.L's 60.63% return.
EMAD.L
- 1D
- -1.54%
- 1M
- -8.90%
- 6M
- 14.74%
- YTD
- 21.59%
- 1Y
- 36.41%
- 3Y*
- 20.83%
- 5Y*
- 6.55%
- 10Y*
- 9.69%
FRXT.L
- 1D
- 0.00%
- 1M
- -4.37%
- 6M
- 52.70%
- YTD
- 60.63%
- 1Y
- 91.66%
- 3Y*
- 41.24%
- 5Y*
- —
- 10Y*
- —
EMAD.L vs. FRXT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMAD.L State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) | 21.59% | 32.13% | 11.12% | 6.54% | -14.43% |
FRXT.L Franklin FTSE Taiwan UCITS ETF | 60.63% | 34.80% | 23.57% | 29.08% | -41.34% |
Correlation
The correlation between EMAD.L and FRXT.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2022 | 0.75 |
The correlation between EMAD.L and FRXT.L has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.
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Return for Risk
EMAD.L vs. FRXT.L — Risk / Return Rank
EMAD.L
FRXT.L
EMAD.L vs. FRXT.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 Taiwan UCITS ETF (FRXT.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 | FRXT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.55 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 8.21 | -5.52 |
| Martin ratioReturn relative to average drawdown | 8.03 | 22.55 | -14.52 |
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Drawdowns
EMAD.L vs. FRXT.L - Drawdown Comparison
The maximum EMAD.L drawdown since its inception was -46.17%, smaller than the maximum FRXT.L drawdown of -50.13%. Use the drawdown chart below to compare losses from any high point for EMAD.L and FRXT.L.
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Drawdown Indicators
| EMAD.L | FRXT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.17% | -50.13% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -13.38% | -11.22% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -20.03% | -27.95% | +7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -39.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.17% | — | — |
Current DrawdownCurrent decline from peak | -11.48% | -9.57% | -1.91% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -19.07% | +4.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 4.08% | +0.42% |
Volatility
EMAD.L vs. FRXT.L - Volatility Comparison
The current volatility for State Street SPDR MSCI EM Asia UCITS ETF USD (Acc) (EMAD.L) is 9.84%, while Franklin FTSE Taiwan UCITS ETF (FRXT.L) has a volatility of 11.95%. This indicates that EMAD.L experiences smaller price fluctuations and is considered to be less risky than FRXT.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 | FRXT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.84% | 11.95% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.14% | 23.40% | -2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.53% | 26.94% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 25.75% | -4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.15% | 25.75% | -5.60% |
EMAD.L vs. FRXT.L - Expense Ratio Comparison
EMAD.L has a 0.55% expense ratio, which is higher than FRXT.L's 0.19% expense ratio.
Dividends
EMAD.L vs. FRXT.L - Dividend Comparison
Neither EMAD.L nor FRXT.L has paid dividends to shareholders.
Frequently Asked Questions
EMAD.L and FRXT.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FRXT.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRXT.L is cheaper with a 0.19% expense ratio, compared with 0.55% for EMAD.L.
EMAD.L is categorized as Asia Pacific Equities, while FRXT.L is Taiwan Equities. EMAD.L tracks MSCI EM (Emerging Markets) Asia Index, while FRXT.L tracks MSCI Taiwan NR USD. They also come from different issuers: State Street and Franklin Templeton. Their fees differ too: 0.55% for EMAD.L and 0.19% for FRXT.L.
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