FLQA.L vs. USPA.L
FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF USD (Acc)) and USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) 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 USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Both are passively managed. Over the past 5 years, FLQA.L returned 12.23%/yr vs 12.03%/yr for USPA.L. A 0.60 correlation means they provide meaningful diversification when combined. FLQA.L charges 0.14%/yr vs 0.07%/yr for USPA.L.
Performance
FLQA.L vs. USPA.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 USPA.L's 6.42% 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*
- —
USPA.L
- 1D
- -0.92%
- 1M
- -0.37%
- 6M
- 6.70%
- YTD
- 6.42%
- 1Y
- 16.97%
- 3Y*
- 18.65%
- 5Y*
- 12.03%
- 10Y*
- —
FLQA.L vs. USPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% | 13.50% |
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 6.42% | 15.76% | 26.74% | 30.46% | -22.10% | 32.21% | 16.58% |
Correlation
The correlation between FLQA.L and USPA.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020 | 0.60 |
The correlation between FLQA.L and USPA.L has been stable across timeframes, ranging from 0.60 to 0.63 - a consistent structural relationship.
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Return for Risk
FLQA.L vs. USPA.L — Risk / Return Rank
FLQA.L
USPA.L
FLQA.L vs. USPA.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 Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.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 | USPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 1.60 | +1.77 |
| Martin ratioReturn relative to average drawdown | 10.76 | 6.04 | +4.72 |
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Drawdowns
FLQA.L vs. USPA.L - Drawdown Comparison
The maximum FLQA.L drawdown since its inception was -29.21%, which is greater than USPA.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for FLQA.L and USPA.L.
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Drawdown Indicators
| FLQA.L | USPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.21% | -27.78% | -1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -14.19% | -10.58% | -3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -18.86% | -3.33% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -27.78% | +2.40% |
Current DrawdownCurrent decline from peak | -14.19% | -1.85% | -12.34% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -5.97% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 2.80% | +1.65% |
Volatility
FLQA.L vs. USPA.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 Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) at 3.49%. This indicates that FLQA.L's price experiences larger fluctuations and is considered to be riskier than USPA.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 | USPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.89% | 3.49% | +7.40% |
Volatility (6M)Calculated over the trailing 6-month period | 23.07% | 9.90% | +13.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.18% | 12.31% | +12.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.75% | 16.63% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 16.48% | +2.05% |
FLQA.L vs. USPA.L - Expense Ratio Comparison
FLQA.L has a 0.14% expense ratio, which is higher than USPA.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FLQA.L vs. USPA.L - Dividend Comparison
Neither FLQA.L nor USPA.L has paid dividends to shareholders.
Frequently Asked Questions
FLQA.L and USPA.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPA.L is cheaper with a 0.07% expense ratio, compared with 0.14% for FLQA.L.
FLQA.L is categorized as Asia Pacific Equities, while USPA.L is S&P 500. FLQA.L tracks Linked FTSE Asia ex Japan ex China Index - Net Return, while USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Their fees differ too: 0.14% for FLQA.L and 0.07% for USPA.L.
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