EWT vs. FLRK.L

Last updated Jun 13, 2026

EWT (iShares MSCI Taiwan ETF) and FLRK.L (Franklin FTSE Korea UCITS ETF) are both Asia Pacific Equities funds - EWT tracks the MSCI Taiwan Index while FLRK.L tracks the MSCI Korea NR USD. Both are passively managed. Over the past 5 years, EWT returned 17.48%/yr vs 19.06%/yr for FLRK.L. A 0.61 correlation means they provide meaningful diversification when combined. EWT charges 0.59%/yr vs 0.09%/yr for FLRK.L.

Performance

EWT vs. FLRK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Taiwan ETF (EWT) and Franklin FTSE Korea UCITS ETF (FLRK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EWT is traded in USD, while FLRK.L is traded in GBP. To make them comparable, the FLRK.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EWT achieves a 61.53% return, which is significantly lower than FLRK.L's 106.43% return.

EWT

• 1D: 0.17%
• 1M: 8.18%
• YTD: 61.53%
• 6M: 67.45%
• 1Y: 89.17%
• 3Y*: 34.98%
• 5Y*: 17.48%
• 10Y*: 19.56%

FLRK.L

• 1D: 5.37%
• 1M: 6.42%
• YTD: 106.43%
• 6M: 123.51%
• 1Y: 206.67%
• 3Y*: 47.28%
• 5Y*: 19.06%
• 10Y*: —

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

EWT vs. FLRK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EWT iShares MSCI Taiwan ETF	61.53%	28.38%	16.11%	23.97%	-28.90%	26.18%	31.50%	26.94%
FLRK.L Franklin FTSE Korea UCITS ETF	106.43%	95.86%	-21.88%	20.18%	-27.99%	-6.76%	46.97%	-10.36%

Correlation

The correlation between EWT and FLRK.L is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.61

The correlation between EWT and FLRK.L has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.

EWT vs. FLRK.L - Sectors Allocation Comparison

Sectors	EWT	FLRK.L
Technology	72.9%	57.4%
Financial Services	13.0%	8.7%
Industrials	4.9%	17.7%
Basic Materials	3.5%	2.4%
Consumer Cyclical	1.9%	5.5%
Communication Services	1.9%	2.3%
Consumer Defensive	1.1%	1.7%
Healthcare	0.8%	3.0%
Energy	-	0.9%
Real Estate	-	-
Utilities	-	0.4%

Return for Risk

EWT vs. FLRK.L — Risk / Return Rank

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

EWT

EWT Risk / Return Rank: 94
EWT Sharpe Ratio Rank: 95
EWT Sortino Ratio Rank: 92
EWT Omega Ratio Rank: 92
EWT Calmar Ratio Rank: 96
EWT Martin Ratio Rank: 95

FLRK.L

FLRK.L Risk / Return Rank: 97
FLRK.L Sharpe Ratio Rank: 98
FLRK.L Sortino Ratio Rank: 96
FLRK.L Omega Ratio Rank: 96
FLRK.L Calmar Ratio Rank: 97
FLRK.L Martin Ratio Rank: 96

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.

EWT vs. FLRK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan ETF (EWT) and Franklin FTSE Korea UCITS ETF (FLRK.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.

	EWT	FLRK.L	Difference
Sharpe ratio: Return per unit of total volatility	3.36	5.06	-1.70
Sortino ratio: Return per unit of downside risk	3.88	4.81	-0.93
Omega ratio: Gain probability vs. loss probability	1.55	1.70	-0.15
Calmar ratio: Return relative to maximum drawdown	8.53	9.04	-0.51
Martin ratio: Return relative to average drawdown	25.15	32.11	-6.97

EWT vs. FLRK.L - Sharpe Ratio Comparison

The current EWT Sharpe Ratio is 3.36, which is lower than the FLRK.L Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of EWT and FLRK.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

EWT vs. FLRK.L - Drawdown Comparison

The maximum EWT drawdown since its inception was -64.37%, which is greater than FLRK.L's maximum drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for EWT and FLRK.L.

Drawdown Indicators

	EWT	FLRK.L	Difference
Max Drawdown Largest peak-to-trough decline	-64.37%	-49.35%	-15.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-22.71%	+12.20%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-34.32%	+8.66%
Max Drawdown (5Y) Largest decline over 5 years	-38.88%	-48.15%	+9.27%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	—	—
Current Drawdown Current decline from peak	-4.19%	-7.79%	+3.60%
Average Drawdown Average peak-to-trough decline	-19.21%	-22.05%	+2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	6.41%	-2.85%

Volatility

EWT vs. FLRK.L - Volatility Comparison

The current volatility for iShares MSCI Taiwan ETF (EWT) is 13.55%, while Franklin FTSE Korea UCITS ETF (FLRK.L) has a volatility of 18.16%. This indicates that EWT experiences smaller price fluctuations and is considered to be less risky than FLRK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWT	FLRK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.55%	18.16%	-4.61%
Volatility (6M) Calculated over the trailing 6-month period	22.68%	36.39%	-13.71%
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	40.61%	-13.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.95%	31.52%	-8.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	31.91%	-10.13%

EWT vs. FLRK.L - Expense Ratio Comparison

EWT has a 0.59% expense ratio, which is higher than FLRK.L's 0.09% expense ratio.

Dividends

EWT vs. FLRK.L - Dividend Comparison

EWT's dividend yield for the trailing twelve months is around 2.74%, while FLRK.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWT iShares MSCI Taiwan ETF	2.74%	4.43%	3.32%	8.12%	18.82%	0.55%	1.83%	2.49%	3.16%	2.81%	2.39%	3.12%
FLRK.L Franklin FTSE Korea 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 EWT and FLRK.L in my portfolio?

EWT and FLRK.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EWT or FLRK.L?

On fees, FLRK.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EWT or FLRK.L?

FLRK.L is cheaper with a 0.09% expense ratio, compared with 0.59% for EWT.

What is the main difference between EWT and FLRK.L?

EWT tracks MSCI Taiwan Index, while FLRK.L tracks MSCI Korea NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.59% for EWT and 0.09% for FLRK.L.