FLIIX vs. FLIAX

Last updated Aug 1, 2026

FLIIX (First Sentier Global Listed Infrastructure Fund) and FLIAX (First Sentier American Listed Infrastructure Fund) are both Infrastructure Equities funds from First Sentier. Over the past 5 years, FLIIX returned 5.73%/yr vs 6.55%/yr for FLIAX. Their correlation of 0.91 means they have usually moved in the same direction. FLIIX charges 0.95%/yr vs 0.75%/yr for FLIAX.

Performance

FLIIX vs. FLIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Sentier Global Listed Infrastructure Fund (FLIIX) and First Sentier American Listed Infrastructure Fund (FLIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLIIX achieves a 11.47% return, which is significantly lower than FLIAX's 17.06% return.

FLIIX

• 1D: 0.23%
• 1M: 0.85%
• 6M: 6.63%
• YTD: 11.47%
• 1Y: 6.81%
• 3Y*: 8.67%
• 5Y*: 5.73%
• 10Y*: —
• ALL TIME*: 7.45%

FLIAX

• 1D: -0.69%
• 1M: -0.26%
• 6M: 13.04%
• YTD: 17.06%
• 1Y: 8.36%
• 3Y*: 10.28%
• 5Y*: 6.55%
• 10Y*: —
• ALL TIME*: 8.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLIAX First Sentier American Listed Infrastructure Fund	$0.00	$0.00	$0.00
FLIIX First Sentier Global Listed Infrastructure Fund	$0.00	$0.00	$0.00

FLIIX vs. FLIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FLIIX First Sentier Global Listed Infrastructure Fund	11.47%	9.16%	5.55%	3.21%	-4.06%	13.35%
FLIAX First Sentier American Listed Infrastructure Fund	17.06%	-0.20%	12.21%	0.59%	-5.85%	24.12%

Correlation

The correlation between FLIIX and FLIAX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 25, 2021	0.91

The correlation between FLIIX and FLIAX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

FLIIX vs. FLIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLIIX

FLIIX Risk / Return Rank: 15
FLIIX Sharpe Ratio Rank: 13
FLIIX Sortino Ratio Rank: 11
FLIIX Omega Ratio Rank: 17
FLIIX Calmar Ratio Rank: 16
FLIIX Martin Ratio Rank: 16

FLIAX

FLIAX Risk / Return Rank: 15
FLIAX Sharpe Ratio Rank: 14
FLIAX Sortino Ratio Rank: 12
FLIAX Omega Ratio Rank: 17
FLIAX Calmar Ratio Rank: 14
FLIAX Martin Ratio Rank: 17

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLIIX vs. FLIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Sentier Global Listed Infrastructure Fund (FLIIX) and First Sentier American Listed Infrastructure Fund (FLIAX). 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.

	FLIIX	FLIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.60	-0.02
Sortino ratio: Return per unit of downside risk	0.80	0.84	-0.04
Omega ratio: Gain probability vs. loss probability	1.13	1.13	0.00
Calmar ratio: Return relative to maximum drawdown	0.83	0.77	+0.06
Martin ratio: Return relative to average drawdown	2.42	2.52	-0.11

FLIIX vs. FLIAX - Sharpe Ratio Comparison

The current FLIIX Sharpe Ratio is 0.59, which is comparable to the FLIAX Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of FLIIX and FLIAX, 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

FLIIX vs. FLIAX - Drawdown Comparison

The maximum FLIIX drawdown since its inception was -35.85%, which is greater than FLIAX's maximum drawdown of -23.23%. Use the drawdown chart below to compare losses from any high point for FLIIX and FLIAX.

Drawdown Indicators

	FLIIX	FLIAX	Difference
Max Drawdown Largest peak-to-trough decline	-35.85%	-23.23%	-12.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-12.50%	+2.93%
Max Drawdown (3Y) Largest decline over 3 years	-10.71%	-12.50%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	-20.61%	-23.23%	+2.62%
Current Drawdown Current decline from peak	-1.06%	-3.19%	+2.13%
Average Drawdown Average peak-to-trough decline	-4.81%	-6.31%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.60%	-0.50%

Volatility

FLIIX vs. FLIAX - Volatility Comparison

The current volatility for First Sentier Global Listed Infrastructure Fund (FLIIX) is 2.89%, while First Sentier American Listed Infrastructure Fund (FLIAX) has a volatility of 4.19%. This indicates that FLIIX experiences smaller price fluctuations and is considered to be less risky than FLIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLIIX	FLIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	4.19%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	10.32%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	15.99%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.13%	16.14%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	15.78%	-0.18%

FLIIX vs. FLIAX - Expense Ratio Comparison

FLIIX has a 0.95% expense ratio, which is higher than FLIAX's 0.75% expense ratio.

Dividends

FLIIX vs. FLIAX - Dividend Comparison

Neither FLIIX nor FLIAX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLIAX First Sentier American Listed Infrastructure Fund	0.00%	0.00%	6.21%	2.90%	19.90%	5.77%	0.00%	0.00%	0.00%	0.00%
FLIIX First Sentier Global Listed Infrastructure Fund	0.00%	0.00%	5.37%	2.46%	4.79%	6.31%	5.71%	6.32%	4.13%	6.91%

Frequently Asked Questions

Can I hold both FLIIX and FLIAX in my portfolio?

FLIIX and FLIAX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLIIX or FLIAX?

FLIAX has higher volatility (4.19%) compared to FLIIX (2.89%). In terms of maximum drawdown, FLIIX dropped -35.85% vs FLIAX's -23.23%.

Which has better risk-adjusted returns?

FLIAX currently has the higher Sharpe Ratio (0.60 vs 0.59), 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.