FLAX vs. ADVE

Last updated Jun 24, 2026

FLAX (Franklin FTSE Asia ex Japan ETF) and ADVE (Matthews Asia Dividend Active ETF) are both Asia Pacific Equities funds. FLAX is passively managed, while ADVE is actively managed. Over the past year, FLAX returned 48.51% vs 33.31% for ADVE. Their correlation of 0.88 suggests significant overlap in exposure. FLAX charges 0.19%/yr vs 0.79%/yr for ADVE.

Performance

FLAX vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Asia ex Japan ETF (FLAX) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLAX achieves a 24.30% return, which is significantly higher than ADVE's 15.66% return.

FLAX

• 1D: -5.68%
• 1M: 2.36%
• YTD: 24.30%
• 6M: 25.58%
• 1Y: 48.51%
• 3Y*: 23.90%
• 5Y*: 7.35%
• 10Y*: —

ADVE

• 1D: -3.82%
• 1M: -1.39%
• YTD: 15.66%
• 6M: 15.85%
• 1Y: 33.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLAX vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLAX Franklin FTSE Asia ex Japan ETF	24.30%	33.72%	9.82%	6.24%
ADVE Matthews Asia Dividend Active ETF	15.66%	26.12%	7.02%	4.58%

Correlation

The correlation between FLAX and ADVE is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.88

The correlation between FLAX and ADVE has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

FLAX vs. ADVE - Sectors Allocation Comparison

Sectors	FLAX	ADVE
Technology	46.4%	29.3%
Financial Services	15.6%	27.7%
Consumer Cyclical	9.1%	5.8%
Industrials	8.2%	12.2%
Communication Services	5.6%	12.0%
Basic Materials	3.6%	4.1%
Healthcare	2.9%	0.9%
Energy	2.5%	1.0%
Consumer Defensive	2.4%	2.7%
Utilities	1.9%	0.9%
Real Estate	1.8%	3.4%

Return for Risk

FLAX vs. ADVE — Risk / Return Rank

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

FLAX

FLAX Risk / Return Rank: 75
FLAX Sharpe Ratio Rank: 74
FLAX Sortino Ratio Rank: 66
FLAX Omega Ratio Rank: 78
FLAX Calmar Ratio Rank: 78
FLAX Martin Ratio Rank: 78

ADVE

ADVE Risk / Return Rank: 60
ADVE Sharpe Ratio Rank: 58
ADVE Sortino Ratio Rank: 56
ADVE Omega Ratio Rank: 61
ADVE Calmar Ratio Rank: 62
ADVE Martin Ratio Rank: 64

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.

FLAX vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Asia ex Japan ETF (FLAX) and Matthews Asia Dividend Active ETF (ADVE). 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.

	FLAX	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.79	+0.42
Sortino ratio: Return per unit of downside risk	2.83	2.46	+0.37
Omega ratio: Gain probability vs. loss probability	1.43	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	3.75	2.85	+0.90
Martin ratio: Return relative to average drawdown	13.91	10.88	+3.03

FLAX vs. ADVE - Sharpe Ratio Comparison

The current FLAX Sharpe Ratio is 2.21, which is comparable to the ADVE Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FLAX and ADVE, 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

FLAX vs. ADVE - Drawdown Comparison

The maximum FLAX drawdown since its inception was -42.51%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for FLAX and ADVE.

Drawdown Indicators

	FLAX	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-42.51%	-18.41%	-24.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-11.73%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.64%	—	—
Current Drawdown Current decline from peak	-5.68%	-5.41%	-0.27%
Average Drawdown Average peak-to-trough decline	-15.34%	-3.17%	-12.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.07%	+0.43%

Volatility

FLAX vs. ADVE - Volatility Comparison

Franklin FTSE Asia ex Japan ETF (FLAX) has a higher volatility of 12.58% compared to Matthews Asia Dividend Active ETF (ADVE) at 9.05%. This indicates that FLAX's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLAX	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.58%	9.05%	+3.53%
Volatility (6M) Calculated over the trailing 6-month period	19.97%	16.55%	+3.42%
Volatility (1Y) Calculated over the trailing 1-year period	22.02%	18.68%	+3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	16.30%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.26%	16.30%	+3.96%

FLAX vs. ADVE - Expense Ratio Comparison

FLAX has a 0.19% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

FLAX vs. ADVE - Dividend Comparison

FLAX's dividend yield for the trailing twelve months is around 1.46%, less than ADVE's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ADVE Matthews Asia Dividend Active ETF	2.58%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%
FLAX Franklin FTSE Asia ex Japan ETF	1.46%	2.37%	3.12%	2.20%	2.86%	2.38%	1.57%	2.23%	2.35%

Frequently Asked Questions

Can I hold both FLAX and ADVE in my portfolio?

FLAX and ADVE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLAX or ADVE?

FLAX has higher volatility (12.58%) compared to ADVE (9.05%). In terms of maximum drawdown, FLAX dropped -42.51% vs ADVE's -18.41%.

Which ETF is better, FLAX or ADVE?

On 1-year performance, FLAX leads with 48.51% vs 33.31% for ADVE. On fees, FLAX is cheaper at 0.19% per year. On volatility, ADVE has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLAX or ADVE?

Over the 1-year period, FLAX has performed better with a 48.51% return vs 33.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLAX or ADVE?

FLAX is cheaper with a 0.19% expense ratio, compared with 0.79% for ADVE.

Which ETF pays a higher dividend yield, FLAX or ADVE?

ADVE has the higher dividend yield at 2.58%, compared with 1.46% for FLAX.

What is the main difference between FLAX and ADVE?

They also come from different issuers: Franklin Templeton and Matthews. Their fees differ too: 0.19% for FLAX and 0.79% for ADVE.

Which has better risk-adjusted returns?

FLAX currently has the higher Sharpe Ratio (2.21 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.