FLQL vs. FLKR

Last updated Jun 4, 2026

FLQL (Franklin LibertyQ U.S. Equity ETF) and FLKR (Franklin FTSE South Korea ETF) are both exchange-traded funds - FLQL is a Large Cap Growth Equities fund tracking the LibertyQ U.S. Large Cap Equity Index, while FLKR is a Asia Pacific Equities fund tracking the FTSE South Korea RIC Capped Index. Both are passively managed. Over the past 5 years, FLQL returned 14.70%/yr vs 19.48%/yr for FLKR. A 0.56 correlation means they provide meaningful diversification when combined. FLQL charges 0.15%/yr vs 0.09%/yr for FLKR.

Performance

FLQL vs. FLKR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity ETF (FLQL) and Franklin FTSE South Korea ETF (FLKR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLQL achieves a 12.66% return, which is significantly lower than FLKR's 114.41% return.

FLQL

• 1D: -0.08%
• 1M: 5.00%
• YTD: 12.66%
• 6M: 12.54%
• 1Y: 29.48%
• 3Y*: 23.56%
• 5Y*: 14.70%
• 10Y*: —

FLKR

• 1D: -0.79%
• 1M: 29.00%
• YTD: 114.41%
• 6M: 130.14%
• 1Y: 238.40%
• 3Y*: 51.14%
• 5Y*: 19.48%
• 10Y*: —

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

FLQL vs. FLKR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQL Franklin LibertyQ U.S. Equity ETF	12.66%	19.64%	24.33%	23.58%	-14.83%	26.58%	10.67%	29.09%	-2.79%	5.73%
FLKR Franklin FTSE South Korea ETF	114.41%	91.91%	-18.84%	19.16%	-27.50%	-7.54%	42.64%	8.88%	-21.30%	2.84%

Correlation

The correlation between FLQL and FLKR is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.56

The correlation between FLQL and FLKR has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

FLQL vs. FLKR - Sectors Allocation Comparison

Sectors	FLQL	FLKR
Technology	34.3%	64.3%
Communication Services	12.2%	1.6%
Consumer Cyclical	11.5%	6.0%
Healthcare	10.5%	2.5%
Industrials	10.0%	12.8%
Financial Services	9.9%	7.6%
Consumer Defensive	4.4%	1.5%
Real Estate	2.9%	-
Basic Materials	1.7%	2.6%
Utilities	1.6%	0.3%
Energy	1.0%	0.4%

Return for Risk

FLQL vs. FLKR — Risk / Return Rank

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

FLQL

FLQL Risk / Return Rank: 71
FLQL Sharpe Ratio Rank: 69
FLQL Sortino Ratio Rank: 70
FLQL Omega Ratio Rank: 70
FLQL Calmar Ratio Rank: 65
FLQL Martin Ratio Rank: 79

FLKR

FLKR Risk / Return Rank: 96
FLKR Sharpe Ratio Rank: 98
FLKR Sortino Ratio Rank: 95
FLKR Omega Ratio Rank: 95
FLKR Calmar Ratio Rank: 97
FLKR Martin Ratio Rank: 96

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.

FLQL vs. FLKR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity ETF (FLQL) and Franklin FTSE South Korea ETF (FLKR). 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.

	FLQL	FLKR	Difference
Sharpe ratio: Return per unit of total volatility	2.31	5.83	-3.52
Sortino ratio: Return per unit of downside risk	3.24	5.23	-1.99
Omega ratio: Gain probability vs. loss probability	1.42	1.73	-0.31
Calmar ratio: Return relative to maximum drawdown	3.27	10.42	-7.15
Martin ratio: Return relative to average drawdown	15.42	38.67	-23.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLQL vs. FLKR - Sharpe Ratio Comparison

The current FLQL Sharpe Ratio is 2.31, which is lower than the FLKR Sharpe Ratio of 5.83. The chart below compares the historical Sharpe Ratios of FLQL and FLKR, 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

	FLQL	FLKR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	5.83	-3.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.69	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.55	+0.31

Drawdowns

FLQL vs. FLKR - Drawdown Comparison

The maximum FLQL drawdown since its inception was -33.64%, smaller than the maximum FLKR drawdown of -50.06%. Use the drawdown chart below to compare losses from any high point for FLQL and FLKR.

Drawdown Indicators

	FLQL	FLKR	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-50.06%	+16.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-23.03%	+13.98%
Max Drawdown (3Y) Largest decline over 3 years	-19.32%	-26.39%	+7.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.41%	-49.51%	+28.10%
Current Drawdown Current decline from peak	-0.08%	-1.77%	+1.69%
Average Drawdown Average peak-to-trough decline	-4.04%	-22.07%	+18.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	6.20%	-4.28%

Volatility

FLQL vs. FLKR - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Equity ETF (FLQL) is 3.19%, while Franklin FTSE South Korea ETF (FLKR) has a volatility of 20.21%. This indicates that FLQL experiences smaller price fluctuations and is considered to be less risky than FLKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQL	FLKR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	20.21%	-17.02%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	36.52%	-26.31%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	41.18%	-28.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	28.19%	-12.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	27.56%	-10.06%

FLQL vs. FLKR - Expense Ratio Comparison

FLQL has a 0.15% expense ratio, which is higher than FLKR's 0.09% 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

FLQL vs. FLKR - Dividend Comparison

FLQL's dividend yield for the trailing twelve months is around 1.01%, less than FLKR's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLKR Franklin FTSE South Korea ETF	1.80%	3.87%	7.08%	2.28%	3.13%	2.12%	0.99%	2.09%	1.86%	1.02%
FLQL Franklin LibertyQ U.S. Equity ETF	1.01%	1.10%	1.13%	1.50%	2.07%	1.81%	1.99%	1.78%	1.82%	1.22%

Frequently Asked Questions

Can I hold both FLQL and FLKR in my portfolio?

FLQL and FLKR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQL or FLKR?

FLKR has higher volatility (20.21%) compared to FLQL (3.19%). In terms of maximum drawdown, FLQL dropped -33.64% vs FLKR's -50.06%.

Which ETF is better, FLQL or FLKR?

On 5-year performance, FLKR leads with 19.48% vs 14.70% for FLQL. On fees, FLKR is cheaper at 0.09% per year. On volatility, FLQL has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQL or FLKR?

Over the 5-year period, FLKR has performed better with a 19.48% return vs 14.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQL or FLKR?

FLKR is cheaper with a 0.09% expense ratio, compared with 0.15% for FLQL.

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

FLKR has the higher dividend yield at 1.80%, compared with 1.01% for FLQL.

What is the main difference between FLQL and FLKR?

FLQL is categorized as Large Cap Growth Equities, while FLKR is Asia Pacific Equities. FLQL tracks LibertyQ U.S. Large Cap Equity Index, while FLKR tracks FTSE South Korea RIC Capped Index. Their fees differ too: 0.15% for FLQL and 0.09% for FLKR.

Which has better risk-adjusted returns?

FLKR currently has the higher Sharpe Ratio (5.83 vs 2.31), 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.