FLAX vs. DIVI

Last updated Jun 4, 2026

FLAX (Franklin FTSE Asia ex Japan ETF) and DIVI (Franklin International Core Dividend Tilt Index ETF) are both exchange-traded funds - FLAX is a Asia Pacific Equities fund tracking the FTSE Asia ex Japan RIC Capped Index, while DIVI is a Foreign Large Cap Equities fund actively managed by Franklin Templeton. FLAX is passively managed, while DIVI is actively managed. Over the past 5 years, FLAX returned 7.95%/yr vs 13.44%/yr for DIVI. A 0.65 correlation means they provide meaningful diversification when combined. FLAX charges 0.19%/yr vs 0.09%/yr for DIVI.

Performance

FLAX vs. DIVI - Performance Comparison

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

Returns By Period

In the year-to-date period, FLAX achieves a 29.31% return, which is significantly higher than DIVI's 10.89% return.

FLAX

• 1D: -1.11%
• 1M: 10.05%
• YTD: 29.31%
• 6M: 32.11%
• 1Y: 58.93%
• 3Y*: 25.00%
• 5Y*: 7.95%
• 10Y*: —

DIVI

• 1D: -0.76%
• 1M: 3.56%
• YTD: 10.89%
• 6M: 13.56%
• 1Y: 26.77%
• 3Y*: 18.22%
• 5Y*: 13.44%
• 10Y*: —

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

FLAX vs. DIVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FLAX Franklin FTSE Asia ex Japan ETF	29.31%	33.72%	9.82%	6.27%	-18.88%	-3.54%	24.17%	17.19%	-12.02%
DIVI Franklin International Core Dividend Tilt Index ETF	10.89%	34.86%	1.77%	18.97%	-1.21%	16.95%	1.29%	22.98%	-1.11%

Correlation

The correlation between FLAX and DIVI is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 9, 2018	0.65

The correlation between FLAX and DIVI has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

FLAX vs. DIVI - Sectors Allocation Comparison

Sectors	FLAX	DIVI
Technology	39.7%	10.2%
Financial Services	17.2%	27.3%
Consumer Cyclical	10.2%	7.1%
Industrials	9.2%	17.2%
Communication Services	6.5%	5.0%
Basic Materials	4.2%	5.6%
Healthcare	3.3%	9.1%
Energy	3.0%	4.4%
Consumer Defensive	2.8%	6.8%
Utilities	2.1%	4.9%
Real Estate	2.0%	2.3%

Return for Risk

FLAX vs. DIVI — Risk / Return Rank

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

FLAX

FLAX Risk / Return Rank: 87
FLAX Sharpe Ratio Rank: 90
FLAX Sortino Ratio Rank: 88
FLAX Omega Ratio Rank: 89
FLAX Calmar Ratio Rank: 84
FLAX Martin Ratio Rank: 86

DIVI

DIVI Risk / Return Rank: 52
DIVI Sharpe Ratio Rank: 52
DIVI Sortino Ratio Rank: 51
DIVI Omega Ratio Rank: 50
DIVI Calmar Ratio Rank: 51
DIVI Martin Ratio Rank: 56

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. DIVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Asia ex Japan ETF (FLAX) and Franklin International Core Dividend Tilt Index ETF (DIVI). 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.

	FLAX	DIVI	Difference
Sharpe ratio: Return per unit of total volatility	3.11	1.82	+1.29
Sortino ratio: Return per unit of downside risk	4.06	2.54	+1.52
Omega ratio: Gain probability vs. loss probability	1.57	1.32	+0.25
Calmar ratio: Return relative to maximum drawdown	4.56	2.55	+2.01
Martin ratio: Return relative to average drawdown	17.96	9.83	+8.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLAX vs. DIVI - Sharpe Ratio Comparison

The current FLAX Sharpe Ratio is 3.11, which is higher than the DIVI Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FLAX and DIVI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLAX	DIVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	1.82	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.88	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.67	-0.22

Drawdowns

FLAX vs. DIVI - Drawdown Comparison

The maximum FLAX drawdown since its inception was -42.51%, which is greater than DIVI's maximum drawdown of -27.76%. Use the drawdown chart below to compare losses from any high point for FLAX and DIVI.

Drawdown Indicators

	FLAX	DIVI	Difference
Max Drawdown Largest peak-to-trough decline	-42.51%	-27.76%	-14.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-10.54%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	-14.58%	-4.71%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-18.53%	-20.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.76%	—
Current Drawdown Current decline from peak	-1.11%	-1.01%	-0.10%
Average Drawdown Average peak-to-trough decline	-15.41%	-3.63%	-11.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.73%	+0.56%

Volatility

FLAX vs. DIVI - Volatility Comparison

Franklin FTSE Asia ex Japan ETF (FLAX) has a higher volatility of 8.58% compared to Franklin International Core Dividend Tilt Index ETF (DIVI) at 5.11%. This indicates that FLAX's price experiences larger fluctuations and is considered to be riskier than DIVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLAX	DIVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	5.11%	+3.47%
Volatility (6M) Calculated over the trailing 6-month period	16.54%	12.18%	+4.36%
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	14.84%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	15.30%	+3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	16.46%	+3.47%

FLAX vs. DIVI - Expense Ratio Comparison

FLAX has a 0.19% expense ratio, which is higher than DIVI's 0.09% 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

FLAX vs. DIVI - Dividend Comparison

FLAX's dividend yield for the trailing twelve months is around 1.83%, less than DIVI's 3.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVI Franklin International Core Dividend Tilt Index ETF	3.53%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%
FLAX Franklin FTSE Asia ex Japan ETF	1.83%	2.37%	3.12%	2.20%	2.86%	2.38%	1.57%	2.23%	2.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLAX and DIVI in my portfolio?

FLAX and DIVI have a correlation of 0.69, 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 DIVI?

FLAX has higher volatility (8.58%) compared to DIVI (5.11%). In terms of maximum drawdown, FLAX dropped -42.51% vs DIVI's -27.76%.

Which ETF is better, FLAX or DIVI?

On 5-year performance, DIVI leads with 13.44% vs 7.95% for FLAX. On fees, DIVI is cheaper at 0.09% per year. On volatility, DIVI has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLAX or DIVI?

Over the 5-year period, DIVI has performed better with a 13.44% return vs 7.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLAX or DIVI?

DIVI is cheaper with a 0.09% expense ratio, compared with 0.19% for FLAX.

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

DIVI has the higher dividend yield at 3.53%, compared with 1.83% for FLAX.

What is the main difference between FLAX and DIVI?

FLAX is categorized as Asia Pacific Equities, while DIVI is Foreign Large Cap Equities. Their fees differ too: 0.19% for FLAX and 0.09% for DIVI.

Which has better risk-adjusted returns?

FLAX currently has the higher Sharpe Ratio (3.11 vs 1.81), 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.