EMXC.L vs. FLQA.L

Last updated Jul 18, 2026

EMXC.L (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) and FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc)) are both exchange-traded funds - EMXC.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while FLQA.L is a Asia Pacific Equities fund tracking the Linked FTSE Asia ex Japan ex China Index - Net Return. Both are passively managed. Over the past 5 years, EMXC.L returned 11.12%/yr vs 12.94%/yr for FLQA.L. A 0.74 correlation means they provide meaningful diversification when combined. EMXC.L charges 0.15%/yr vs 0.14%/yr for FLQA.L.

Performance

EMXC.L vs. FLQA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (FLQA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EMXC.L is traded in EUR, while FLQA.L is traded in USD. To make them comparable, the FLQA.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMXC.L achieves a 26.34% return, which is significantly lower than FLQA.L's 33.68% return.

EMXC.L

• 1D: -1.78%
• 1M: -11.56%
• 6M: 19.42%
• YTD: 26.34%
• 1Y: 46.09%
• 3Y*: 22.61%
• 5Y*: 11.12%
• 10Y*: —

FLQA.L

• 1D: -1.83%
• 1M: -11.07%
• 6M: 24.36%
• YTD: 33.68%
• 1Y: 50.07%
• 3Y*: 23.66%
• 5Y*: 12.94%
• 10Y*: —

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

EMXC.L vs. FLQA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMXC.L Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc	26.34%	35.24%	3.15%	18.63%	-18.84%	8.52%	53.86%
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc)	33.68%	14.43%	14.87%	8.66%	-7.54%	12.39%	13.82%

Correlation

The correlation between EMXC.L and FLQA.L is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 4, 2020	0.74

The correlation between EMXC.L and FLQA.L shifts across timeframes, from 0.74 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EMXC.L vs. FLQA.L — Risk / Return Rank

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

EMXC.L

EMXC.L Risk / Return Rank: 74
EMXC.L Sharpe Ratio Rank: 74
EMXC.L Sortino Ratio Rank: 68
EMXC.L Omega Ratio Rank: 72
EMXC.L Calmar Ratio Rank: 80
EMXC.L Martin Ratio Rank: 73

FLQA.L

FLQA.L Risk / Return Rank: 78
FLQA.L Sharpe Ratio Rank: 79
FLQA.L Sortino Ratio Rank: 73
FLQA.L Omega Ratio Rank: 77
FLQA.L Calmar Ratio Rank: 84
FLQA.L 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.

EMXC.L vs. FLQA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (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.

	EMXC.L	FLQA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.04	-0.19
Sortino ratio: Return per unit of downside risk	2.44	2.68	-0.24
Omega ratio: Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	3.25	3.49	-0.24
Martin ratio: Return relative to average drawdown	10.29	12.22	-1.93

EMXC.L vs. FLQA.L - Sharpe Ratio Comparison

The current EMXC.L Sharpe Ratio is 1.84, which is comparable to the FLQA.L Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of EMXC.L and FLQA.L, 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

EMXC.L vs. FLQA.L - Drawdown Comparison

The maximum EMXC.L drawdown since its inception was -28.58%, which is greater than FLQA.L's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for EMXC.L and FLQA.L.

Drawdown Indicators

	EMXC.L	FLQA.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.58%	-26.80%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-14.13%	-14.29%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-20.31%	-20.75%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-28.58%	-20.75%	-7.83%
Current Drawdown Current decline from peak	-13.70%	-14.29%	+0.59%
Average Drawdown Average peak-to-trough decline	-7.83%	-5.31%	-2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	4.09%	+0.38%

Volatility

EMXC.L vs. FLQA.L - Volatility Comparison

Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (FLQA.L) have volatilities of 10.31% and 10.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMXC.L	FLQA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.31%	10.59%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	23.04%	22.01%	+1.03%
Volatility (1Y) Calculated over the trailing 1-year period	24.90%	24.47%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	16.89%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	18.09%	+0.38%

EMXC.L vs. FLQA.L - Expense Ratio Comparison

EMXC.L has a 0.15% expense ratio, which is higher than FLQA.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EMXC.L vs. FLQA.L - Dividend Comparison

Neither EMXC.L nor FLQA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMXC.L and FLQA.L in my portfolio?

With a correlation of 0.91, EMXC.L and FLQA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, EMXC.L or FLQA.L?

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.

Which ETF is cheaper, EMXC.L or FLQA.L?

FLQA.L is cheaper with a 0.14% expense ratio, compared with 0.15% for EMXC.L.

What is the main difference between EMXC.L and FLQA.L?

EMXC.L is categorized as Emerging Markets Equities, while FLQA.L is Asia Pacific Equities. EMXC.L tracks MSCI EM NR USD, while FLQA.L tracks Linked FTSE Asia ex Japan ex China Index - Net Return. They also come from different issuers: Amundi and Franklin. Their fees differ too: 0.15% for EMXC.L and 0.14% for FLQA.L.