FLKR vs. FPA

Last updated Jun 24, 2026

FLKR (Franklin FTSE South Korea ETF) and FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) are both Asia Pacific Equities funds - FLKR tracks the FTSE South Korea RIC Capped Index while FPA tracks the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. Both are passively managed. Over the past 5 years, FLKR returned 17.46%/yr vs 12.24%/yr for FPA. A 0.68 correlation means they provide meaningful diversification when combined. FLKR charges 0.09%/yr vs 0.80%/yr for FPA.

Performance

FLKR vs. FPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE South Korea ETF (FLKR) and First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLKR achieves a 97.22% return, which is significantly higher than FPA's 43.37% return.

FLKR

• 1D: -12.51%
• 1M: 7.54%
• YTD: 97.22%
• 6M: 107.52%
• 1Y: 178.78%
• 3Y*: 48.47%
• 5Y*: 17.46%
• 10Y*: —

FPA

• 1D: -6.12%
• 1M: -0.38%
• YTD: 43.37%
• 6M: 43.73%
• 1Y: 57.04%
• 3Y*: 30.61%
• 5Y*: 12.24%
• 10Y*: 10.87%

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

FLKR vs. FPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLKR Franklin FTSE South Korea ETF	97.22%	91.91%	-18.84%	19.16%	-27.50%	-7.54%	42.64%	8.88%	-21.30%	3.00%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	43.37%	43.16%	3.95%	9.97%	-14.55%	2.98%	13.43%	8.91%	-21.91%	3.33%

Correlation

The correlation between FLKR and FPA 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 (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.68

The correlation between FLKR and FPA shifts across timeframes, from 0.67 (5 years) to 0.83 (1 year), reflecting how their relationship changes across market environments.

FLKR vs. FPA - Sectors Allocation Comparison

Sectors	FLKR	FPA
Technology	62.9%	25.2%
Industrials	14.6%	32.7%
Financial Services	7.5%	8.6%
Consumer Cyclical	6.3%	9.3%
Healthcare	2.4%	0.8%
Communication Services	2.0%	2.6%
Basic Materials	1.9%	4.2%
Consumer Defensive	1.4%	2.7%
Energy	0.7%	5.4%
Utilities	0.3%	5.1%
Real Estate	-	6.2%

Return for Risk

FLKR vs. FPA — Risk / Return Rank

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

FLKR

FLKR Risk / Return Rank: 92
FLKR Sharpe Ratio Rank: 95
FLKR Sortino Ratio Rank: 85
FLKR Omega Ratio Rank: 89
FLKR Calmar Ratio Rank: 95
FLKR Martin Ratio Rank: 94

FPA

FPA Risk / Return Rank: 68
FPA Sharpe Ratio Rank: 65
FPA Sortino Ratio Rank: 59
FPA Omega Ratio Rank: 64
FPA Calmar Ratio Rank: 77
FPA Martin Ratio Rank: 73

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.

FLKR vs. FPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE South Korea ETF (FLKR) and First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA). 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.

	FLKR	FPA	Difference
Sharpe ratio: Return per unit of total volatility	3.71	1.99	+1.72
Sortino ratio: Return per unit of downside risk	3.60	2.58	+1.02
Omega ratio: Gain probability vs. loss probability	1.54	1.36	+0.18
Calmar ratio: Return relative to maximum drawdown	7.81	3.73	+4.08
Martin ratio: Return relative to average drawdown	26.91	12.70	+14.21

FLKR vs. FPA - Sharpe Ratio Comparison

The current FLKR Sharpe Ratio is 3.71, which is higher than the FPA Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FLKR and FPA, 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

FLKR vs. FPA - Drawdown Comparison

The maximum FLKR drawdown since its inception was -50.06%, smaller than the maximum FPA drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for FLKR and FPA.

Drawdown Indicators

	FLKR	FPA	Difference
Max Drawdown Largest peak-to-trough decline	-50.06%	-52.91%	+2.85%
Max Drawdown (1Y) Largest decline over 1 year	-23.03%	-15.37%	-7.66%
Max Drawdown (3Y) Largest decline over 3 years	-26.39%	-20.66%	-5.73%
Max Drawdown (5Y) Largest decline over 5 years	-49.51%	-34.38%	-15.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-52.91%	—
Current Drawdown Current decline from peak	-12.51%	-9.25%	-3.26%
Average Drawdown Average peak-to-trough decline	-21.98%	-13.46%	-8.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	4.50%	+2.17%

Volatility

FLKR vs. FPA - Volatility Comparison

Franklin FTSE South Korea ETF (FLKR) has a higher volatility of 30.00% compared to First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) at 16.46%. This indicates that FLKR's price experiences larger fluctuations and is considered to be riskier than FPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLKR	FPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.00%	16.46%	+13.54%
Volatility (6M) Calculated over the trailing 6-month period	45.17%	26.05%	+19.12%
Volatility (1Y) Calculated over the trailing 1-year period	48.46%	28.94%	+19.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.50%	24.79%	+5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.88%	22.76%	+6.12%

FLKR vs. FPA - Expense Ratio Comparison

FLKR has a 0.09% expense ratio, which is lower than FPA's 0.80% expense ratio.

Dividends

FLKR vs. FPA - Dividend Comparison

FLKR's dividend yield for the trailing twelve months is around 1.86%, less than FPA's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLKR Franklin FTSE South Korea ETF	1.86%	3.87%	7.08%	2.28%	3.13%	2.12%	0.99%	2.09%	1.86%	1.02%	0.00%	0.00%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	3.72%	4.71%	3.40%	3.02%	4.22%	5.12%	1.59%	3.90%	2.81%	3.15%	2.42%	1.74%

Frequently Asked Questions

Can I hold both FLKR and FPA in my portfolio?

FLKR and FPA 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 is riskier, FLKR or FPA?

FLKR has higher volatility (30.00%) compared to FPA (16.46%). In terms of maximum drawdown, FLKR dropped -50.06% vs FPA's -52.91%.

Which ETF is better, FLKR or FPA?

On 5-year performance, FLKR leads with 17.46% vs 12.24% for FPA. On fees, FLKR is cheaper at 0.09% per year. On volatility, FPA has been the lower-risk option at 16.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLKR or FPA?

Over the 5-year period, FLKR has performed better with a 17.46% return vs 12.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLKR or FPA?

FLKR is cheaper with a 0.09% expense ratio, compared with 0.80% for FPA.

Which ETF pays a higher dividend yield, FLKR or FPA?

FPA has the higher dividend yield at 3.72%, compared with 1.86% for FLKR.

What is the main difference between FLKR and FPA?

FLKR tracks FTSE South Korea RIC Capped Index, while FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. They also come from different issuers: Franklin Templeton and First Trust. Their fees differ too: 0.09% for FLKR and 0.80% for FPA.

Which has better risk-adjusted returns?

FLKR currently has the higher Sharpe Ratio (3.71 vs 1.99), 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.