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FLIN vs. EWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLIN vs. EWM

Last updated Jun 24, 2026

FLIN (Franklin FTSE India ETF) and EWM (iShares MSCI Malaysia ETF) are both Asia Pacific Equities funds - FLIN tracks the FTSE India RIC Capped Index while EWM tracks the MSCI Malaysia Index. Both are passively managed. Over the past 5 years, FLIN returned 4.72%/yr vs 4.53%/yr for EWM. At a 0.42 correlation, their price movements are largely independent. FLIN charges 0.19%/yr vs 0.49%/yr for EWM.

Performance

FLIN vs. EWM - Performance Comparison

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

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Returns By Period

In the year-to-date period, FLIN achieves a -8.37% return, which is significantly lower than EWM's -0.09% return.

FLIN

1D
-1.64%
1M
1.99%
YTD
-8.37%
6M
-8.98%
1Y
-8.50%
3Y*
6.53%
5Y*
4.72%
10Y*
—

EWM

1D
-1.03%
1M
-6.51%
YTD
-0.09%
6M
-0.71%
1Y
18.03%
3Y*
14.25%
5Y*
4.53%
10Y*
2.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLIN vs. EWM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FLIN
Franklin FTSE India ETF		-8.37%2.40%10.33%20.58%-7.96%24.96%14.50%4.77%-7.13%
EWM
iShares MSCI Malaysia ETF		-0.09%15.74%19.46%-3.61%-6.00%-7.40%3.12%-1.41%-10.67%

Correlation

The correlation between FLIN and EWM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Feb 8, 2018

0.42

FLIN vs. EWM - Sectors Allocation Comparison

Sectors
FLIN
EWM

Financial Services

26.9%
50.5%

Consumer Cyclical

12.0%
1.1%

Industrials

10.7%
12.2%

Basic Materials

9.5%
9.9%

Energy

9.0%
2.9%

Technology

8.3%

-

Healthcare

6.7%
3.4%

Consumer Defensive

5.6%
4.7%

Utilities

5.4%
10.9%

Communication Services

4.6%
5.5%

Real Estate

1.3%

-

Financial Services

FLIN
26.9%
EWM
50.5%

Consumer Cyclical

FLIN
12.0%
EWM
1.1%

Industrials

FLIN
10.7%
EWM
12.2%

Basic Materials

FLIN
9.5%
EWM
9.9%

Energy

FLIN
9.0%
EWM
2.9%

Technology

FLIN
8.3%
EWM

-

Healthcare

FLIN
6.7%
EWM
3.4%

Consumer Defensive

FLIN
5.6%
EWM
4.7%

Utilities

FLIN
5.4%
EWM
10.9%

Communication Services

FLIN
4.6%
EWM
5.5%

Real Estate

FLIN
1.3%
EWM

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE India ETF

iShares MSCI Malaysia ETF

Often compared with FLIN:
FLIN vs. INDAFLIN vs. EPIFLIN vs. NFTYFLIN vs. INDYFLIN vs. FRIN.LFLIN vs. SMINFLIN vs. GLIN
Often compared with EWM:
EWM vs. EIDOEWM vs. EWYEWM vs. EWTEWM vs. EPIEWM vs. AAXJEWM vs. VOOEWM vs. SCHD

Return for Risk

FLIN vs. EWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLIN
FLIN Risk / Return Rank: 44
Overall Rank
FLIN Sharpe Ratio Rank: 44
Sharpe Ratio Rank
FLIN Sortino Ratio Rank: 44
Sortino Ratio Rank
FLIN Omega Ratio Rank: 44
Omega Ratio Rank
FLIN Calmar Ratio Rank: 55
Calmar Ratio Rank
FLIN Martin Ratio Rank: 44
Martin Ratio Rank
EWM
EWM Risk / Return Rank: 3737
Overall Rank
EWM Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EWM Sortino Ratio Rank: 3636
Sortino Ratio Rank
EWM Omega Ratio Rank: 3636
Omega Ratio Rank
EWM Calmar Ratio Rank: 3838
Calmar Ratio Rank
EWM Martin Ratio Rank: 3939
Martin Ratio Rank
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.

FLIN vs. EWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE India ETF (FLIN) and iShares MSCI Malaysia ETF (EWM). 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.

FLINEWMDifference
Sharpe ratioReturn per unit of total volatility
-0.56
1.28

-1.84

Sortino ratioReturn per unit of downside risk
-0.73
1.83

-2.56

Omega ratioGain probability vs. loss probability

0.92

1.23

-0.31

Calmar ratioReturn relative to maximum drawdown

-0.45

1.79

-2.24

Martin ratioReturn relative to average drawdown

-1.05

5.80

-6.85

FLIN vs. EWM - Sharpe Ratio Comparison

The current FLIN Sharpe Ratio is -0.56, which is lower than the EWM Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of FLIN and EWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLIN vs. EWM - Drawdown Comparison

The maximum FLIN drawdown since its inception was -41.90%, smaller than the maximum EWM drawdown of -89.19%. Use the drawdown chart below to compare losses from any high point for FLIN and EWM.

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Drawdown Indicators

FLINEWMDifference

Max Drawdown

Largest peak-to-trough decline

-41.90%

-89.19%

+47.29%

Max Drawdown (1Y)

Largest decline over 1 year

-18.79%

-10.14%

-8.65%

Max Drawdown (3Y)

Largest decline over 3 years

-22.85%

-21.31%

-1.54%

Max Drawdown (5Y)

Largest decline over 5 years

-22.85%

-22.76%

-0.09%

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.81%

—

Current Drawdown

Current decline from peak

-15.64%

-11.71%

-3.93%

Average Drawdown

Average peak-to-trough decline

-8.06%

-31.78%

+23.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.10%

3.12%

+4.98%

Volatility

FLIN vs. EWM - Volatility Comparison

Franklin FTSE India ETF (FLIN) has a higher volatility of 4.61% compared to iShares MSCI Malaysia ETF (EWM) at 4.15%. This indicates that FLIN's price experiences larger fluctuations and is considered to be riskier than EWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLINEWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

4.15%

+0.46%

Volatility (6M)

Calculated over the trailing 6-month period

13.22%

11.08%

+2.14%

Volatility (1Y)

Calculated over the trailing 1-year period

15.18%

14.13%

+1.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.78%

13.76%

+2.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.43%

16.19%

+4.24%

FLIN vs. EWM - Expense Ratio Comparison

FLIN has a 0.19% expense ratio, which is lower than EWM's 0.49% expense ratio.

Dividends

FLIN vs. EWM - Dividend Comparison

FLIN's dividend yield for the trailing twelve months is around 0.43%, less than EWM's 3.72% yield.

PositionTTM20252024202320222021202020192018201720162015
EWM
iShares MSCI Malaysia ETF		3.72%3.41%3.32%3.47%3.00%6.48%1.89%2.91%3.84%5.58%5.97%37.54%
FLIN
Franklin FTSE India ETF		0.43%0.56%1.58%0.73%0.73%2.26%0.68%0.90%0.92%0.00%0.00%0.00%

Frequently Asked Questions

FLIN and EWM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLIN has higher volatility (4.61%) compared to EWM (4.15%). In terms of maximum drawdown, FLIN dropped -41.90% vs EWM's -89.19%.

On 5-year performance, FLIN leads with 4.72% vs 4.53% for EWM. On fees, FLIN is cheaper at 0.19% per year. On volatility, EWM has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLIN has performed better with a 4.72% return vs 4.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLIN is cheaper with a 0.19% expense ratio, compared with 0.49% for EWM.

EWM has the higher dividend yield at 3.72%, compared with 0.43% for FLIN.

FLIN tracks FTSE India RIC Capped Index, while EWM tracks MSCI Malaysia Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLIN and 0.49% for EWM.

EWM currently has the higher Sharpe Ratio (1.28 vs -0.56), 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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