FLXC.L vs. UTIL.L

Last updated Jun 5, 2026

FLXC.L (Franklin FTSE China UCITS ETF) and UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - FLXC.L is a China Equities fund tracking the MSCI China NR USD, while UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD. Both are passively managed. Over the past 5 years, FLXC.L returned -4.83%/yr vs 10.79%/yr for UTIL.L. At a 0.29 correlation, their price movements are largely independent. FLXC.L charges 0.19%/yr vs 0.18%/yr for UTIL.L.

Performance

FLXC.L vs. UTIL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE China UCITS ETF (FLXC.L) and SPDR MSCI Europe Utilities UCITS ETF (UTIL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLXC.L is traded in USD, while UTIL.L is traded in EUR. To make them comparable, the UTIL.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLXC.L achieves a -6.24% return, which is significantly lower than UTIL.L's 11.70% return.

FLXC.L

• 1D: -0.43%
• 1M: -3.03%
• YTD: -6.24%
• 6M: -7.47%
• 1Y: 6.65%
• 3Y*: 10.95%
• 5Y*: -4.83%
• 10Y*: —

UTIL.L

• 1D: -0.09%
• 1M: -3.74%
• YTD: 11.70%
• 6M: 13.75%
• 1Y: 28.93%
• 3Y*: 19.77%
• 5Y*: 10.79%
• 10Y*: 10.94%

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

FLXC.L vs. UTIL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLXC.L Franklin FTSE China UCITS ETF	-6.24%	32.15%	19.36%	-12.74%	-22.72%	-20.67%	31.22%	16.03%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	11.70%	51.98%	-4.93%	16.67%	-12.37%	0.89%	21.72%	10.63%

Correlation

The correlation between FLXC.L and UTIL.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 10, 2019	0.29

The correlation between FLXC.L and UTIL.L shifts across timeframes, from 0.17 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

FLXC.L vs. UTIL.L - Sectors Allocation Comparison

Sectors	FLXC.L	UTIL.L
Consumer Cyclical	30.8%	-
Communication Services	23.6%	-
Financial Services	15.5%	-
Technology	9.3%	-
Healthcare	6.0%	-
Industrials	4.1%	4.6%
Consumer Defensive	3.2%	-
Energy	2.4%	-
Basic Materials	2.3%	-
Utilities	1.8%	95.4%
Real Estate	0.7%	-

Return for Risk

FLXC.L vs. UTIL.L — Risk / Return Rank

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

FLXC.L

FLXC.L Risk / Return Rank: 14
FLXC.L Sharpe Ratio Rank: 15
FLXC.L Sortino Ratio Rank: 15
FLXC.L Omega Ratio Rank: 14
FLXC.L Calmar Ratio Rank: 14
FLXC.L Martin Ratio Rank: 14

UTIL.L

UTIL.L Risk / Return Rank: 57
UTIL.L Sharpe Ratio Rank: 53
UTIL.L Sortino Ratio Rank: 48
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 58

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.

FLXC.L vs. UTIL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China UCITS ETF (FLXC.L) and SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

	FLXC.L	UTIL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.73	-1.38
Sortino ratio: Return per unit of downside risk	0.63	2.25	-1.62
Omega ratio: Gain probability vs. loss probability	1.07	1.31	-0.23
Calmar ratio: Return relative to maximum drawdown	0.42	3.21	-2.78
Martin ratio: Return relative to average drawdown	0.89	9.14	-8.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLXC.L vs. UTIL.L - Sharpe Ratio Comparison

The current FLXC.L Sharpe Ratio is 0.35, which is lower than the UTIL.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FLXC.L and UTIL.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.

Sharpe Ratios by Period

	FLXC.L	UTIL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	1.73	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.57	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.43	-0.34

Drawdowns

FLXC.L vs. UTIL.L - Drawdown Comparison

The maximum FLXC.L drawdown since its inception was -67.90%, which is greater than UTIL.L's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for FLXC.L and UTIL.L.

Drawdown Indicators

	FLXC.L	UTIL.L	Difference
Max Drawdown Largest peak-to-trough decline	-67.90%	-35.43%	-32.47%
Max Drawdown (1Y) Largest decline over 1 year	-15.67%	-8.98%	-6.69%
Max Drawdown (3Y) Largest decline over 3 years	-40.11%	-17.76%	-22.35%
Max Drawdown (5Y) Largest decline over 5 years	-62.63%	-33.85%	-28.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.43%	—
Current Drawdown Current decline from peak	-33.63%	-5.93%	-27.70%
Average Drawdown Average peak-to-trough decline	-31.82%	-8.25%	-23.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.48%	3.16%	+4.32%

Volatility

FLXC.L vs. UTIL.L - Volatility Comparison

Franklin FTSE China UCITS ETF (FLXC.L) has a higher volatility of 7.36% compared to SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) at 6.41%. This indicates that FLXC.L's price experiences larger fluctuations and is considered to be riskier than UTIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXC.L	UTIL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	6.41%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	14.01%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	18.83%	16.66%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.74%	19.08%	+13.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.64%	19.63%	+11.01%

FLXC.L vs. UTIL.L - Expense Ratio Comparison

FLXC.L has a 0.19% expense ratio, which is higher than UTIL.L's 0.18% 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

FLXC.L vs. UTIL.L - Dividend Comparison

Neither FLXC.L nor UTIL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLXC.L and UTIL.L in my portfolio?

FLXC.L and UTIL.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLXC.L or UTIL.L?

On fees, UTIL.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXC.L or UTIL.L?

UTIL.L is cheaper with a 0.18% expense ratio, compared with 0.19% for FLXC.L.

What is the main difference between FLXC.L and UTIL.L?

FLXC.L is categorized as China Equities, while UTIL.L is Utilities Equities. FLXC.L tracks MSCI China NR USD, while UTIL.L tracks MSCI World/Utilities NR USD. They also come from different issuers: Franklin Templeton and State Street. Their fees differ too: 0.19% for FLXC.L and 0.18% for UTIL.L.