FLCH vs. CN

Last updated Jun 5, 2026

FLCH (Franklin FTSE China ETF) and CN (Xtrackers MSCI All China Equity ETF) are both China Equities funds - FLCH tracks the FTSE China RIC Capped Index while CN tracks the MSCI China All Shares. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. FLCH charges 0.19%/yr vs 0.50%/yr for CN.

Performance

FLCH vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE China ETF (FLCH) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLCH

• 1D: -0.31%
• 1M: -2.97%
• YTD: -6.60%
• 6M: -7.51%
• 1Y: 5.91%
• 3Y*: 10.54%
• 5Y*: -4.99%
• 10Y*: —

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLCH vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCH Franklin FTSE China ETF	-6.60%	32.55%	18.00%	-11.21%	-22.74%	-20.87%	30.09%	24.32%	-19.52%	0.91%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	0.51%

Correlation

The correlation between FLCH and CN is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.83

The correlation between FLCH and CN shifts across timeframes, from 0.48 (3 years) to 0.83 (all time), reflecting how their relationship changes across market environments.

FLCH vs. CN - Sectors Allocation Comparison

Sectors	FLCH	CN
Consumer Cyclical	23.4%	5.4%
Financial Services	18.2%	55.1%
Communication Services	14.2%	0.4%
Technology	12.9%	0.3%
Industrials	9.1%	1.0%
Basic Materials	5.5%	0.6%
Healthcare	5.3%	0.8%
Energy	3.7%	0.9%
Consumer Defensive	3.3%	0.3%
Utilities	2.0%	0.2%
Real Estate	1.7%	0.8%

Return for Risk

FLCH vs. CN — Risk / Return Rank

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

FLCH

FLCH Risk / Return Rank: 14
FLCH Sharpe Ratio Rank: 14
FLCH Sortino Ratio Rank: 14
FLCH Omega Ratio Rank: 14
FLCH Calmar Ratio Rank: 14
FLCH Martin Ratio Rank: 13

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. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China ETF (FLCH) and Xtrackers MSCI All China Equity ETF (CN). 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	CN	Difference
Sharpe ratio: Return per unit of total volatility	0.31	—	—
Sortino ratio: Return per unit of downside risk	0.57	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.38	—	—
Martin ratio: Return relative to average drawdown	0.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FLCH	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	—	—

Drawdowns

Drawdown Indicators

	FLCH	CN	Difference
Max Drawdown Largest peak-to-trough decline	-62.09%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.78%	—	—
Current Drawdown Current decline from peak	-34.16%	—	—
Average Drawdown Average peak-to-trough decline	-30.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.43%	—	—

Volatility

Volatility by Period

	FLCH	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.91%	—	—

FLCH vs. CN - Expense Ratio Comparison

FLCH has a 0.19% expense ratio, which is lower than CN's 0.50% expense ratio.

Dividends

FLCH vs. CN - Dividend Comparison

FLCH's dividend yield for the trailing twelve months is around 2.53%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
FLCH Franklin FTSE China ETF	2.53%	2.36%	2.87%	3.47%	2.69%	1.48%	0.91%	1.98%	1.92%	0.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLCH and CN in my portfolio?

FLCH and CN have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLCH or CN?

On fees, FLCH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLCH or CN?

FLCH is cheaper with a 0.19% expense ratio, compared with 0.50% for CN.

Which ETF pays a higher dividend yield, FLCH or CN?

FLCH has the higher dividend yield at 2.53%, compared with 0.00% for CN.

What is the main difference between FLCH and CN?

FLCH tracks FTSE China RIC Capped Index, while CN tracks MSCI China All Shares. They also come from different issuers: Franklin Templeton and Deutsche Bank. Their fees differ too: 0.19% for FLCH and 0.50% for CN.