FLQA.L vs. CNAA.L
FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc)) and CNAA.L (Lyxor Fortune SG UCITS MSCI China A DR) are both exchange-traded funds - FLQA.L is a Asia Pacific Equities fund tracking the Linked FTSE Asia ex Japan ex China Index - Net Return, while CNAA.L is a China Equities fund tracking the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 5 years, FLQA.L returned 12.23%/yr vs -1.30%/yr for CNAA.L. A 0.61 correlation means they provide meaningful diversification when combined. FLQA.L charges 0.14%/yr vs 0.35%/yr for CNAA.L.
Performance
FLQA.L vs. CNAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, FLQA.L achieves a 30.17% return, which is significantly higher than CNAA.L's 4.27% return.
FLQA.L
- 1D
- -1.86%
- 1M
- -11.56%
- 6M
- 22.63%
- YTD
- 30.17%
- 1Y
- 48.05%
- 3Y*
- 24.43%
- 5Y*
- 12.23%
- 10Y*
- —
CNAA.L
- 1D
- -2.29%
- 1M
- -5.55%
- 6M
- 1.58%
- YTD
- 4.27%
- 1Y
- 24.38%
- 3Y*
- 9.60%
- 5Y*
- -1.30%
- 10Y*
- 4.25%
FLQA.L vs. CNAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) | 30.17% | 29.84% | 7.76% | 12.02% | -12.93% | 4.57% | 6.71% | 9.75% | -5.84% |
CNAA.L Lyxor Fortune SG UCITS MSCI China A DR | 4.27% | 26.12% | 10.92% | -14.19% | -25.98% | 3.21% | 42.78% | 36.86% | -11.97% |
Correlation
The correlation between FLQA.L and CNAA.L is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.61 |
The correlation between FLQA.L and CNAA.L shifts across timeframes, from 0.45 (3 years) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLQA.L vs. CNAA.L — Risk / Return Rank
FLQA.L
CNAA.L
FLQA.L vs. CNAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (FLQA.L) and Lyxor Fortune SG UCITS MSCI China A DR (CNAA.L). 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.
| FLQA.L | CNAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.24 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 3.17 | +0.20 |
| Martin ratioReturn relative to average drawdown | 10.76 | 8.38 | +2.38 |
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Drawdowns
FLQA.L vs. CNAA.L - Drawdown Comparison
The maximum FLQA.L drawdown since its inception was -29.21%, smaller than the maximum CNAA.L drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for FLQA.L and CNAA.L.
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Drawdown Indicators
| FLQA.L | CNAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.21% | -56.07% | +26.86% |
Max Drawdown (1Y)Largest decline over 1 year | -14.19% | -8.01% | -6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -28.67% | +6.48% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -44.54% | +19.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.66% | — |
Current DrawdownCurrent decline from peak | -14.19% | -17.89% | +3.70% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -32.77% | +25.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 3.03% | +1.42% |
Volatility
FLQA.L vs. CNAA.L - Volatility Comparison
Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc) (FLQA.L) has a higher volatility of 10.89% compared to Lyxor Fortune SG UCITS MSCI China A DR (CNAA.L) at 8.82%. This indicates that FLQA.L's price experiences larger fluctuations and is considered to be riskier than CNAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLQA.L | CNAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.89% | 8.82% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 23.07% | 14.97% | +8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.18% | 19.23% | +5.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.75% | 22.75% | -5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 22.59% | -4.06% |
FLQA.L vs. CNAA.L - Expense Ratio Comparison
FLQA.L has a 0.14% expense ratio, which is lower than CNAA.L's 0.35% expense ratio.
Dividends
FLQA.L vs. CNAA.L - Dividend Comparison
Neither FLQA.L nor CNAA.L has paid dividends to shareholders.
Frequently Asked Questions
FLQA.L and CNAA.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLQA.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLQA.L is cheaper with a 0.14% expense ratio, compared with 0.35% for CNAA.L.
FLQA.L is categorized as Asia Pacific Equities, while CNAA.L is China Equities. FLQA.L tracks Linked FTSE Asia ex Japan ex China Index - Net Return, while CNAA.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: Franklin and Amundi. Their fees differ too: 0.14% for FLQA.L and 0.35% for CNAA.L.
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