FLAX vs. FGDL
FLAX (Franklin FTSE Asia ex Japan ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - FLAX is a Asia Pacific Equities fund tracking the FTSE Asia ex Japan RIC Capped Index, while FGDL is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 3 years, FLAX returned 25.00%/yr vs 31.32%/yr for FGDL. At a 0.35 correlation, their price movements are largely independent. FLAX charges 0.19%/yr vs 0.15%/yr for FGDL.
Performance
FLAX vs. FGDL - Performance Comparison
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Returns By Period
In the year-to-date period, FLAX achieves a 29.31% return, which is significantly higher than FGDL's 2.43% return.
FLAX
- 1D
- -1.11%
- 1M
- 10.05%
- YTD
- 29.31%
- 6M
- 32.11%
- 1Y
- 58.93%
- 3Y*
- 25.00%
- 5Y*
- 7.95%
- 10Y*
- —
FGDL
- 1D
- -1.09%
- 1M
- -1.94%
- YTD
- 2.43%
- 6M
- 4.89%
- 1Y
- 31.70%
- 3Y*
- 31.32%
- 5Y*
- —
- 10Y*
- —
FLAX vs. FGDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLAX Franklin FTSE Asia ex Japan ETF | 29.31% | 33.72% | 9.82% | 6.27% | -4.56% |
FGDL Franklin Responsibly Sourced Gold ETF | 2.43% | 64.15% | 27.31% | 12.92% | 0.91% |
Correlation
The correlation between FLAX and FGDL is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022 | 0.35 |
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Return for Risk
FLAX vs. FGDL — Risk / Return Rank
FLAX
FGDL
FLAX vs. FGDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Asia ex Japan ETF (FLAX) and Franklin Responsibly Sourced Gold ETF (FGDL). 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 | FGDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.24 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.56 | 1.66 | +2.90 |
| Martin ratioReturn relative to average drawdown | 17.96 | 4.03 | +13.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLAX | FGDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.11 | 1.19 | +1.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.35 | -0.90 |
Drawdowns
FLAX vs. FGDL - Drawdown Comparison
The maximum FLAX drawdown since its inception was -42.51%, which is greater than FGDL's maximum drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for FLAX and FGDL.
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Drawdown Indicators
| FLAX | FGDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.51% | -19.23% | -23.28% |
Max Drawdown (1Y)Largest decline over 1 year | -12.99% | -19.23% | +6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -19.23% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | -18.16% | +17.05% |
Average DrawdownAverage peak-to-trough decline | -15.41% | -3.83% | -11.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 7.88% | -4.59% |
Volatility
FLAX vs. FGDL - Volatility Comparison
Franklin FTSE Asia ex Japan ETF (FLAX) has a higher volatility of 8.58% compared to Franklin Responsibly Sourced Gold ETF (FGDL) at 5.61%. This indicates that FLAX's price experiences larger fluctuations and is considered to be riskier than FGDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLAX | FGDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 5.61% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 16.54% | 23.18% | -6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 26.78% | -7.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 19.03% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 19.03% | +0.90% |
FLAX vs. FGDL - Expense Ratio Comparison
FLAX has a 0.19% expense ratio, which is higher than FGDL's 0.15% 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. FGDL - Dividend Comparison
FLAX's dividend yield for the trailing twelve months is around 1.83%, while FGDL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
FLAX and FGDL have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLAX has higher volatility (8.58%) compared to FGDL (5.61%). In terms of maximum drawdown, FLAX dropped -42.51% vs FGDL's -19.23%.
On 3-year performance, FGDL leads with 31.32% vs 25.00% for FLAX. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FGDL has performed better with a 31.32% return vs 25.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FGDL is cheaper with a 0.15% expense ratio, compared with 0.19% for FLAX.
FLAX has the higher dividend yield at 1.83%, compared with 0.00% for FGDL.
FLAX is categorized as Asia Pacific Equities, while FGDL is Precious Metals. FLAX tracks FTSE Asia ex Japan RIC Capped Index, while FGDL tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 0.19% for FLAX and 0.15% for FGDL.
FLAX currently has the higher Sharpe Ratio (3.11 vs 1.19), 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.
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