FLIN vs. EWM

Last updated Jun 4, 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 3.56%/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.

Returns By Period

In the year-to-date period, FLIN achieves a -11.92% return, which is significantly lower than EWM's 2.45% return.

FLIN

• 1D: -1.51%
• 1M: -2.58%
• YTD: -11.92%
• 6M: -10.85%
• 1Y: -11.63%
• 3Y*: 5.53%
• 5Y*: 3.56%
• 10Y*: —

EWM

• 1D: -2.37%
• 1M: -5.11%
• YTD: 2.45%
• 6M: 6.54%
• 1Y: 20.74%
• 3Y*: 14.49%
• 5Y*: 4.53%
• 10Y*: 2.59%

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

FLIN vs. EWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FLIN Franklin FTSE India ETF	-11.92%	2.40%	10.33%	20.58%	-7.96%	24.96%	14.50%	4.77%	-6.70%
EWM iShares MSCI Malaysia ETF	2.45%	15.74%	19.46%	-3.61%	-6.00%	-7.40%	3.12%	-1.41%	-8.50%

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	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Feb 9, 2018	0.42

FLIN vs. EWM - Sectors Allocation Comparison

Sectors	FLIN	EWM
Financial Services	27.2%	46.6%
Consumer Cyclical	12.0%	1.1%
Industrials	10.3%	11.1%
Energy	9.5%	3.9%
Basic Materials	9.2%	8.9%
Technology	8.4%	-
Healthcare	6.5%	3.8%
Consumer Defensive	5.8%	7.3%
Utilities	5.3%	10.8%
Communication Services	4.6%	6.6%
Real Estate	1.3%	-

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: 2
FLIN Sharpe Ratio Rank: 3
FLIN Sortino Ratio Rank: 3
FLIN Omega Ratio Rank: 3
FLIN Calmar Ratio Rank: 3
FLIN Martin Ratio Rank: 1

EWM

EWM Risk / Return Rank: 45
EWM Sharpe Ratio Rank: 42
EWM Sortino Ratio Rank: 41
EWM Omega Ratio Rank: 40
EWM Calmar Ratio Rank: 54
EWM Martin Ratio Rank: 49

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.

	FLIN	EWM	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	1.49	-2.27
Sortino ratio: Return per unit of downside risk	-1.06	2.09	-3.14
Omega ratio: Gain probability vs. loss probability	0.88	1.26	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.62	2.65	-3.27
Martin ratio: Return relative to average drawdown	-1.54	8.22	-9.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLIN vs. EWM - Sharpe Ratio Comparison

The current FLIN Sharpe Ratio is -0.78, which is lower than the EWM Sharpe Ratio of 1.49. 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.

Sharpe Ratios by Period

	FLIN	EWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.78	1.49	-2.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.33	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.07	+0.20

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.

Drawdown Indicators

	FLIN	EWM	Difference
Max Drawdown Largest peak-to-trough decline	-41.90%	-89.19%	+47.29%
Max Drawdown (1Y) Largest decline over 1 year	-18.79%	-7.86%	-10.93%
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	-18.91%	-9.46%	-9.45%
Average Drawdown Average peak-to-trough decline	-8.01%	-31.82%	+23.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	2.53%	+5.04%

Volatility

FLIN vs. EWM - Volatility Comparison

Franklin FTSE India ETF (FLIN) has a higher volatility of 5.21% 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.

Volatility by Period

	FLIN	EWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	4.15%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	10.86%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	13.99%	+0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	13.70%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	16.29%	+4.16%

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 0.64%, less than EWM's 3.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWM iShares MSCI Malaysia ETF	3.33%	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	0.64%	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

Can I hold both FLIN and EWM in my portfolio?

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.

Which is riskier, FLIN or EWM?

FLIN has higher volatility (5.21%) compared to EWM (4.15%). In terms of maximum drawdown, FLIN dropped -41.90% vs EWM's -89.19%.

Which ETF is better, FLIN or EWM?

On 5-year performance, EWM leads with 4.53% vs 3.56% for FLIN. 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.

Which ETF has performed better, FLIN or EWM?

Over the 5-year period, EWM has performed better with a 4.53% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLIN or EWM?

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

Which ETF pays a higher dividend yield, FLIN or EWM?

EWM has the higher dividend yield at 3.33%, compared with 0.64% for FLIN.

What is the main difference between FLIN and EWM?

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.

Which has better risk-adjusted returns?

EWM currently has the higher Sharpe Ratio (1.49 vs -0.78), 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.