FLCH vs. 2331.HK

Last updated Apr 2, 2026

Compare and contrast key facts about Franklin FTSE China ETF (FLCH) and Li Ning Co Ltd (2331.HK).

FLCH is a passively managed fund by Franklin Templeton that tracks the performance of the FTSE China RIC Capped Index. It was launched on Nov 2, 2017.

Performance

FLCH vs. 2331.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE China ETF (FLCH) and Li Ning Co Ltd (2331.HK). The values are adjusted to include any dividend payments, if applicable.

FLCH vs. 2331.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCH Franklin FTSE China ETF	-5.65%	32.55%	18.00%	-11.21%	-22.74%	-20.87%	30.09%	24.32%	-19.52%	0.91%
2331.HK Li Ning Co Ltd	15.56%	17.25%	-17.59%	-68.50%	-20.08%	59.91%	130.76%	181.39%	32.38%	-8.91%

Different Trading Currencies

FLCH is traded in USD, while 2331.HK is traded in HKD. To make them comparable, the 2331.HK values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLCH achieves a -5.65% return, which is significantly lower than 2331.HK's 15.56% return.

FLCH

• 1D: 0.29%
• 1M: -4.32%
• YTD: -5.65%
• 6M: -12.56%
• 1Y: 7.43%
• 3Y*: 7.60%
• 5Y*: -4.85%
• 10Y*: —

2331.HK

• 1D: 1.55%
• 1M: -1.26%
• YTD: 15.56%
• 6M: 22.31%
• 1Y: 41.54%
• 3Y*: -27.12%
• 5Y*: -14.20%
• 10Y*: 21.20%

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

Return for Risk

FLCH vs. 2331.HK — Risk / Return Rank

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

FLCH

FLCH Risk / Return Rank: 21
FLCH Sharpe Ratio Rank: 20
FLCH Sortino Ratio Rank: 20
FLCH Omega Ratio Rank: 21
FLCH Calmar Ratio Rank: 22
FLCH Martin Ratio Rank: 20

2331.HK

2331.HK Risk / Return Rank: 74
2331.HK Sharpe Ratio Rank: 79
2331.HK Sortino Ratio Rank: 76
2331.HK Omega Ratio Rank: 72
2331.HK Calmar Ratio Rank: 73
2331.HK Martin Ratio Rank: 69

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.

FLCH vs. 2331.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China ETF (FLCH) and Li Ning Co Ltd (2331.HK). 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.

	FLCH	2331.HK	Difference
Sharpe ratio Return per unit of total volatility	0.32	1.24	-0.91
Sortino ratio Return per unit of downside risk	0.59	1.88	-1.29
Omega ratio Gain probability vs. loss probability	1.08	1.23	-0.15
Calmar ratio Return relative to maximum drawdown	0.45	1.68	-1.23
Martin ratio Return relative to average drawdown	1.29	3.38	-2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLCH vs. 2331.HK - Sharpe Ratio Comparison

The current FLCH Sharpe Ratio is 0.32, which is lower than the 2331.HK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FLCH and 2331.HK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLCH	2331.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	1.24	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	-0.28	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.06	-0.04

Correlation

The correlation between FLCH and 2331.HK is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FLCH vs. 2331.HK - Dividend Comparison

FLCH's dividend yield for the trailing twelve months is around 2.50%, less than 2331.HK's 2.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCH Franklin FTSE China ETF	2.50%	2.36%	2.87%	3.47%	2.69%	1.48%	0.91%	1.98%	1.92%	0.01%
2331.HK Li Ning Co Ltd	2.74%	3.18%	3.74%	4.32%	0.79%	0.29%	0.32%	0.43%	0.00%	0.00%

Drawdowns

FLCH vs. 2331.HK - Drawdown Comparison

The maximum FLCH drawdown since its inception was -62.09%, smaller than the maximum 2331.HK drawdown of -89.66%. Use the drawdown chart below to compare losses from any high point for FLCH and 2331.HK.

Drawdown Indicators

	FLCH	2331.HK	Difference
Max Drawdown Largest peak-to-trough decline	-62.09%	-89.67%	+27.58%
Max Drawdown (1Y) Largest decline over 1 year	-16.65%	-16.54%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-56.06%	-87.34%	+31.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-87.34%	—
Current Drawdown Current decline from peak	-33.49%	-77.61%	+44.12%
Average Drawdown Average peak-to-trough decline	-30.50%	-49.33%	+18.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.02%	9.25%	-3.23%

Volatility

FLCH vs. 2331.HK - Volatility Comparison

The current volatility for Franklin FTSE China ETF (FLCH) is 6.44%, while Li Ning Co Ltd (2331.HK) has a volatility of 12.99%. This indicates that FLCH experiences smaller price fluctuations and is considered to be less risky than 2331.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCH	2331.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	12.99%	-6.55%
Volatility (6M) Calculated over the trailing 6-month period	13.92%	25.61%	-11.69%
Volatility (1Y) Calculated over the trailing 1-year period	23.03%	34.57%	-11.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.58%	52.22%	-22.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.06%	48.12%	-20.06%