FLRK.L vs. FLXK.L

Last updated Jul 18, 2026

FLRK.L (Franklin FTSE Korea UCITS ETF) and FLXK.L (Franklin FTSE Korea UCITS ETF USD (Acc)) are both South Korea Equities funds - FLRK.L tracks the MSCI Korea NR USD while FLXK.L tracks the FTSE Korea 30/18 Capped Index (Net Return). Both are passively managed. Over the past 5 years, FLRK.L returned 15.78%/yr vs 15.73%/yr for FLXK.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.09% expense ratio.

Performance

FLRK.L vs. FLXK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin FTSE Korea UCITS ETF (FLRK.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLRK.L is traded in GBP, while FLXK.L is traded in USD. To make them comparable, the FLXK.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FLRK.L having a 71.89% return and FLXK.L slightly higher at 72.16%.

FLRK.L

• 1D: -1.36%
• 1M: -22.74%
• 6M: 49.71%
• YTD: 71.89%
• 1Y: 136.49%
• 3Y*: 37.20%
• 5Y*: 15.78%
• 10Y*: —

FLXK.L

• 1D: -1.88%
• 1M: -23.34%
• 6M: 49.24%
• YTD: 72.16%
• 1Y: 136.47%
• 3Y*: 37.03%
• 5Y*: 15.73%
• 10Y*: —

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

FLRK.L vs. FLXK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLRK.L Franklin FTSE Korea UCITS ETF	71.89%	82.12%	-20.55%	14.15%	-19.37%	-5.90%	42.60%	-14.15%
FLXK.L Franklin FTSE Korea UCITS ETF USD (Acc)	72.16%	80.91%	-20.26%	14.73%	-19.45%	-5.96%	42.98%	8.49%

Correlation

The correlation between FLRK.L and FLXK.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.96

The correlation between FLRK.L and FLXK.L has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

FLRK.L vs. FLXK.L — Risk / Return Rank

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

FLRK.L

FLRK.L Risk / Return Rank: 92
FLRK.L Sharpe Ratio Rank: 96
FLRK.L Sortino Ratio Rank: 89
FLRK.L Omega Ratio Rank: 91
FLRK.L Calmar Ratio Rank: 93
FLRK.L Martin Ratio Rank: 92

FLXK.L

FLXK.L Risk / Return Rank: 92
FLXK.L Sharpe Ratio Rank: 96
FLXK.L Sortino Ratio Rank: 89
FLXK.L Omega Ratio Rank: 91
FLXK.L Calmar Ratio Rank: 94
FLXK.L Martin Ratio Rank: 93

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.

FLRK.L vs. FLXK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Korea UCITS ETF (FLRK.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.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.

	FLRK.L	FLXK.L	Difference
Sharpe ratio: Return per unit of total volatility	3.09	3.09	+0.01
Sortino ratio: Return per unit of downside risk	3.29	3.26	+0.03
Omega ratio: Gain probability vs. loss probability	1.47	1.46	+0.01
Calmar ratio: Return relative to maximum drawdown	5.10	5.03	+0.07
Martin ratio: Return relative to average drawdown	17.31	17.21	+0.10

FLRK.L vs. FLXK.L - Sharpe Ratio Comparison

The current FLRK.L Sharpe Ratio is 3.09, which is comparable to the FLXK.L Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of FLRK.L and FLXK.L, 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

FLRK.L vs. FLXK.L - Drawdown Comparison

The maximum FLRK.L drawdown since its inception was -41.58%, roughly equal to the maximum FLXK.L drawdown of -41.70%. Use the drawdown chart below to compare losses from any high point for FLRK.L and FLXK.L.

Drawdown Indicators

	FLRK.L	FLXK.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.58%	-41.70%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-26.60%	-26.99%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-36.37%	-28.10%	-8.27%
Max Drawdown (5Y) Largest decline over 5 years	-37.09%	-37.31%	+0.22%
Current Drawdown Current decline from peak	-26.60%	-26.99%	+0.39%
Average Drawdown Average peak-to-trough decline	-19.80%	-17.72%	-2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.85%	7.90%	-0.05%

Volatility

FLRK.L vs. FLXK.L - Volatility Comparison

Franklin FTSE Korea UCITS ETF (FLRK.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) have volatilities of 19.32% and 18.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRK.L	FLXK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.32%	18.55%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	40.35%	40.42%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	43.85%	43.95%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.98%	27.96%	+3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.97%	28.13%	+2.84%

FLRK.L vs. FLXK.L - Expense Ratio Comparison

Both FLRK.L and FLXK.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FLRK.L vs. FLXK.L - Dividend Comparison

Neither FLRK.L nor FLXK.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLRK.L and FLXK.L in my portfolio?

With a correlation of 0.99, FLRK.L and FLXK.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FLRK.L or FLXK.L?

Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLRK.L or FLXK.L?

FLRK.L and FLXK.L have the same expense ratio: 0.09% per year.

What is the main difference between FLRK.L and FLXK.L?

FLRK.L tracks MSCI Korea NR USD, while FLXK.L tracks FTSE Korea 30/18 Capped Index (Net Return). They also come from different issuers: Franklin Templeton and Franklin.