FLCH vs. EPHE

Last updated Jun 13, 2026

FLCH (Franklin FTSE China ETF) and EPHE (iShares MSCI Philippines ETF) are both exchange-traded funds - FLCH is a China Equities fund tracking the FTSE China RIC Capped Index, while EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index. Both are passively managed. Over the past 5 years, FLCH returned -5.07%/yr vs -3.02%/yr for EPHE. At a 0.37 correlation, their price movements are largely independent. FLCH charges 0.19%/yr vs 0.59%/yr for EPHE.

Performance

FLCH vs. EPHE - Performance Comparison

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

Returns By Period

In the year-to-date period, FLCH achieves a -8.28% return, which is significantly lower than EPHE's 0.32% return.

FLCH

• 1D: 0.83%
• 1M: -6.11%
• YTD: -8.28%
• 6M: -9.10%
• 1Y: 3.67%
• 3Y*: 9.03%
• 5Y*: -5.07%
• 10Y*: —

EPHE

• 1D: 0.97%
• 1M: 0.81%
• YTD: 0.32%
• 6M: 1.21%
• 1Y: -7.80%
• 3Y*: 0.90%
• 5Y*: -3.02%
• 10Y*: -2.82%

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

FLCH vs. EPHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCH Franklin FTSE China ETF	-8.28%	32.55%	18.00%	-11.21%	-22.74%	-20.87%	30.09%	24.32%	-19.52%	1.51%
EPHE iShares MSCI Philippines ETF	0.32%	1.56%	-1.41%	1.27%	-15.87%	-2.23%	-3.95%	8.50%	-17.50%	4.14%

Correlation

The correlation between FLCH and EPHE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.37

The correlation between FLCH and EPHE shifts across timeframes, from 0.25 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

FLCH vs. EPHE - Sectors Allocation Comparison

Sectors	FLCH	EPHE
Consumer Cyclical	23.4%	13.6%
Financial Services	18.2%	17.3%
Communication Services	14.2%	5.3%
Technology	12.9%	-
Industrials	9.1%	32.0%
Basic Materials	5.5%	1.0%
Healthcare	5.3%	-
Energy	3.7%	1.3%
Consumer Defensive	3.3%	4.6%
Utilities	2.0%	14.3%
Real Estate	1.7%	10.7%

Return for Risk

FLCH vs. EPHE — Risk / Return Rank

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

FLCH

FLCH Risk / Return Rank: 11
FLCH Sharpe Ratio Rank: 11
FLCH Sortino Ratio Rank: 11
FLCH Omega Ratio Rank: 11
FLCH Calmar Ratio Rank: 11
FLCH Martin Ratio Rank: 11

EPHE

EPHE Risk / Return Rank: 5
EPHE Sharpe Ratio Rank: 5
EPHE Sortino Ratio Rank: 5
EPHE Omega Ratio Rank: 5
EPHE Calmar Ratio Rank: 5
EPHE Martin Ratio Rank: 5

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. EPHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China ETF (FLCH) and iShares MSCI Philippines ETF (EPHE). 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.

	FLCH	EPHE	Difference
Sharpe ratio: Return per unit of total volatility	0.10	-0.49	+0.59
Sortino ratio: Return per unit of downside risk	0.28	-0.59	+0.87
Omega ratio: Gain probability vs. loss probability	1.03	0.94	+0.10
Calmar ratio: Return relative to maximum drawdown	0.12	-0.58	+0.69
Martin ratio: Return relative to average drawdown	0.25	-1.06	+1.31

FLCH vs. EPHE - Sharpe Ratio Comparison

The current FLCH Sharpe Ratio is 0.10, which is higher than the EPHE Sharpe Ratio of -0.49. The chart below compares the historical Sharpe Ratios of FLCH and EPHE, 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

FLCH vs. EPHE - Drawdown Comparison

The maximum FLCH drawdown since its inception was -62.09%, which is greater than EPHE's maximum drawdown of -53.82%. Use the drawdown chart below to compare losses from any high point for FLCH and EPHE.

Drawdown Indicators

	FLCH	EPHE	Difference
Max Drawdown Largest peak-to-trough decline	-62.09%	-53.82%	-8.27%
Max Drawdown (1Y) Largest decline over 1 year	-17.14%	-15.90%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-25.43%	-21.42%	-4.01%
Max Drawdown (5Y) Largest decline over 5 years	-55.78%	-32.96%	-22.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.62%	—
Current Drawdown Current decline from peak	-35.34%	-33.66%	-1.68%
Average Drawdown Average peak-to-trough decline	-30.53%	-21.00%	-9.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.87%	9.28%	-1.41%

Volatility

FLCH vs. EPHE - Volatility Comparison

Franklin FTSE China ETF (FLCH) has a higher volatility of 5.86% compared to iShares MSCI Philippines ETF (EPHE) at 4.96%. This indicates that FLCH's price experiences larger fluctuations and is considered to be riskier than EPHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCH	EPHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	4.96%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	13.73%	13.49%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	19.26%	18.90%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.60%	18.05%	+11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.88%	22.20%	+5.68%

FLCH vs. EPHE - Expense Ratio Comparison

FLCH has a 0.19% expense ratio, which is lower than EPHE's 0.59% expense ratio.

Dividends

FLCH vs. EPHE - Dividend Comparison

FLCH's dividend yield for the trailing twelve months is around 2.57%, more than EPHE's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPHE iShares MSCI Philippines ETF	2.10%	2.11%	2.32%	2.01%	1.73%	1.05%	0.72%	0.78%	0.45%	0.36%	0.71%	1.03%
FLCH Franklin FTSE China ETF	2.57%	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 EPHE in my portfolio?

FLCH and EPHE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCH or EPHE?

FLCH has higher volatility (5.86%) compared to EPHE (4.96%). In terms of maximum drawdown, FLCH dropped -62.09% vs EPHE's -53.82%.

Which ETF is better, FLCH or EPHE?

On 5-year performance, EPHE leads with -3.02% vs -5.07% for FLCH. On fees, FLCH is cheaper at 0.19% per year. On volatility, EPHE has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCH or EPHE?

Over the 5-year period, EPHE has performed better with a -3.02% return vs -5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCH or EPHE?

FLCH is cheaper with a 0.19% expense ratio, compared with 0.59% for EPHE.

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

FLCH has the higher dividend yield at 2.57%, compared with 2.10% for EPHE.

What is the main difference between FLCH and EPHE?

FLCH is categorized as China Equities, while EPHE is Asia Pacific Equities. FLCH tracks FTSE China RIC Capped Index, while EPHE tracks MSCI Philippines Investable Market Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLCH and 0.59% for EPHE.

Which has better risk-adjusted returns?

FLCH currently has the higher Sharpe Ratio (0.10 vs -0.49), 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.