ESES.L vs. FLQA.L
ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)) and FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc)) are both exchange-traded funds - ESES.L is a Emerging Markets Equities fund tracking the MSCI EM Universal Select Business Screens Index, 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, ESES.L returned 6.99%/yr vs 12.74%/yr for FLQA.L. Their correlation of 0.81 suggests significant overlap in exposure. ESES.L charges 0.19%/yr vs 0.14%/yr for FLQA.L.
Performance
ESES.L vs. FLQA.L - Performance Comparison
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Different Trading Currencies
ESES.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, ESES.L achieves a 20.07% return, which is significantly lower than FLQA.L's 30.36% return.
ESES.L
- 1D
- -1.40%
- 1M
- -8.29%
- 6M
- 13.84%
- YTD
- 20.07%
- 1Y
- 35.10%
- 3Y*
- 18.07%
- 5Y*
- 6.99%
- 10Y*
- —
FLQA.L
- 1D
- -1.70%
- 1M
- -12.65%
- 6M
- 21.93%
- YTD
- 30.36%
- 1Y
- 47.65%
- 3Y*
- 23.13%
- 5Y*
- 12.74%
- 10Y*
- —
ESES.L vs. FLQA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) | 20.07% | 24.05% | 7.54% | 2.94% | -11.14% | 6,848.44% |
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) | 30.36% | 20.59% | 9.64% | 6.42% | -2.58% | 1.85% |
Correlation
The correlation between ESES.L and FLQA.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.81 |
The correlation between ESES.L and FLQA.L has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
ESES.L vs. FLQA.L — Risk / Return Rank
ESES.L
FLQA.L
ESES.L vs. FLQA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.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.
| ESES.L | FLQA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 3.07 | +0.17 |
| Martin ratioReturn relative to average drawdown | 9.91 | 10.98 | -1.06 |
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Drawdowns
ESES.L vs. FLQA.L - Drawdown Comparison
The maximum ESES.L drawdown since its inception was -23.59%, 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 ESES.L and FLQA.L.
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Drawdown Indicators
| ESES.L | FLQA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.59% | -20.97% | -2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -15.46% | +4.67% |
Max Drawdown (3Y)Largest decline over 3 years | -23.59% | -19.58% | -4.01% |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | -19.58% | -4.01% |
Current DrawdownCurrent decline from peak | -10.05% | -15.46% | +5.41% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -4.06% | -6.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 4.33% | -0.80% |
Volatility
ESES.L vs. FLQA.L - Volatility Comparison
The current volatility for Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L) is 7.19%, while Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (FLQA.L) has a volatility of 10.51%. This indicates that ESES.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
| ESES.L | FLQA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 10.51% | -3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 17.05% | 21.94% | -4.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 24.07% | -4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.67% | 16.61% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,195.40% | 17.88% | +3,177.52% |
ESES.L vs. FLQA.L - Expense Ratio Comparison
ESES.L has a 0.19% 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
ESES.L vs. FLQA.L - Dividend Comparison
Neither ESES.L nor FLQA.L has paid dividends to shareholders.
Frequently Asked Questions
ESES.L and FLQA.L have a correlation of 0.89, 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 0.19% for ESES.L.
ESES.L is categorized as Emerging Markets Equities, while FLQA.L is Asia Pacific Equities. ESES.L tracks MSCI EM Universal Select Business Screens Index, while FLQA.L tracks Linked FTSE Asia ex Japan ex China Index - Net Return. They also come from different issuers: Invesco and Franklin. Their fees differ too: 0.19% for ESES.L and 0.14% for FLQA.L.
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