FLXE.DE vs. EUNZ.DE
FLXE.DE (Franklin Emerging Markets UCITS ETF) and EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) are both Emerging Markets Equities funds - FLXE.DE tracks the MSCI EM NR USD while EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility. Both are passively managed. Over the past 5 years, FLXE.DE returned 7.69%/yr vs 6.48%/yr for EUNZ.DE. Their correlation of 0.86 suggests significant overlap in exposure. FLXE.DE charges 0.45%/yr vs 0.40%/yr for EUNZ.DE.
Performance
FLXE.DE vs. EUNZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FLXE.DE achieves a 16.10% return, which is significantly lower than EUNZ.DE's 18.69% return.
FLXE.DE
- 1D
- -0.62%
- 1M
- 0.38%
- YTD
- 16.10%
- 6M
- 15.79%
- 1Y
- 29.88%
- 3Y*
- 15.92%
- 5Y*
- 7.69%
- 10Y*
- —
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
FLXE.DE vs. EUNZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLXE.DE Franklin Emerging Markets UCITS ETF | 16.10% | 13.48% | 13.20% | 8.82% | -14.02% | 16.09% | -8.15% | 15.51% | -7.66% | 2.87% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | -2.49% | 10.59% | -1.89% | 3.46% |
Correlation
The correlation between FLXE.DE and EUNZ.DE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017 | 0.86 |
The correlation between FLXE.DE and EUNZ.DE has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
FLXE.DE vs. EUNZ.DE — Risk / Return Rank
FLXE.DE
EUNZ.DE
FLXE.DE vs. EUNZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Markets UCITS ETF (FLXE.DE) and iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE). 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.
| FLXE.DE | EUNZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.35 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 3.00 | +0.58 |
| Martin ratioReturn relative to average drawdown | 12.18 | 10.57 | +1.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLXE.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 1.85 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.56 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.35 | +0.01 |
Drawdowns
FLXE.DE vs. EUNZ.DE - Drawdown Comparison
The maximum FLXE.DE drawdown since its inception was -32.87%, which is greater than EUNZ.DE's maximum drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for FLXE.DE and EUNZ.DE.
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Drawdown Indicators
| FLXE.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.87% | -30.47% | -2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.39% | -7.50% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -14.00% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | -14.00% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -1.81% | -1.96% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -7.16% | -7.62% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.13% | +0.34% |
Volatility
FLXE.DE vs. EUNZ.DE - Volatility Comparison
Franklin Emerging Markets UCITS ETF (FLXE.DE) has a higher volatility of 5.11% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) at 4.75%. This indicates that FLXE.DE's price experiences larger fluctuations and is considered to be riskier than EUNZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXE.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 4.75% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 10.35% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.04% | 12.18% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.69% | 11.41% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 13.32% | +2.74% |
FLXE.DE vs. EUNZ.DE - Expense Ratio Comparison
FLXE.DE has a 0.45% expense ratio, which is higher than EUNZ.DE's 0.40% expense ratio.
Dividends
FLXE.DE vs. EUNZ.DE - Dividend Comparison
Neither FLXE.DE nor EUNZ.DE has paid dividends to shareholders.
Frequently Asked Questions
FLXE.DE and EUNZ.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNZ.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNZ.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for FLXE.DE.
FLXE.DE tracks MSCI EM NR USD, while EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.45% for FLXE.DE and 0.40% for EUNZ.DE.
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