FLXE.DE vs. H410.DE
FLXE.DE (Franklin Emerging Markets UCITS ETF) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - FLXE.DE tracks the MSCI EM NR USD while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, FLXE.DE returned 8.06%/yr vs 7.58%/yr for H410.DE. Their correlation of 0.88 suggests significant overlap in exposure. FLXE.DE charges 0.45%/yr vs 0.15%/yr for H410.DE.
Performance
FLXE.DE vs. H410.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FLXE.DE achieves a 16.50% return, which is significantly lower than H410.DE's 23.59% return.
FLXE.DE
- 1D
- 0.93%
- 1M
- -1.08%
- 6M
- 12.18%
- YTD
- 16.50%
- 1Y
- 26.03%
- 3Y*
- 15.52%
- 5Y*
- 8.06%
- 10Y*
- —
H410.DE
- 1D
- -0.41%
- 1M
- -4.81%
- 6M
- 16.27%
- YTD
- 23.59%
- 1Y
- 40.06%
- 3Y*
- 19.24%
- 5Y*
- 7.58%
- 10Y*
- 8.62%
FLXE.DE vs. H410.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLXE.DE Franklin Emerging Markets UCITS ETF | 16.50% | 13.48% | 13.20% | 8.79% | -14.00% | 16.06% | -8.15% | 15.56% | -7.69% | -13.90% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 23.59% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 21.14% | -11.36% | 1.41% |
Correlation
The correlation between FLXE.DE and H410.DE is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2017 | 0.88 |
The correlation between FLXE.DE and H410.DE has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
FLXE.DE vs. H410.DE — Risk / Return Rank
FLXE.DE
H410.DE
FLXE.DE vs. H410.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Markets UCITS ETF (FLXE.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.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.
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.
| FLXE.DE | H410.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 3.81 | -0.71 |
| Martin ratioReturn relative to average drawdown | 9.82 | 11.69 | -1.87 |
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Drawdowns
FLXE.DE vs. H410.DE - Drawdown Comparison
The maximum FLXE.DE drawdown since its inception was -37.02%, smaller than the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for FLXE.DE and H410.DE.
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Drawdown Indicators
| FLXE.DE | H410.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -41.02% | +4.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -10.47% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.15% | -19.01% | +4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | -22.77% | +4.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.62% | — |
Current DrawdownCurrent decline from peak | -1.47% | -7.87% | +6.40% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -13.30% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 3.42% | -0.78% |
Volatility
FLXE.DE vs. H410.DE - Volatility Comparison
The current volatility for Franklin Emerging Markets UCITS ETF (FLXE.DE) is 3.87%, while HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) has a volatility of 8.52%. This indicates that FLXE.DE experiences smaller price fluctuations and is considered to be less risky than H410.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 | H410.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 8.52% | -4.65% |
Volatility (6M)Calculated over the trailing 6-month period | 11.51% | 17.56% | -6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 20.06% | -6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 17.16% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 18.30% | -1.40% |
FLXE.DE vs. H410.DE - Expense Ratio Comparison
FLXE.DE has a 0.45% expense ratio, which is higher than H410.DE's 0.15% expense ratio.
Dividends
FLXE.DE vs. H410.DE - Dividend Comparison
FLXE.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLXE.DE Franklin Emerging Markets UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.65% | 2.00% | 2.40% | 2.59% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
Frequently Asked Questions
FLXE.DE and H410.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE is cheaper with a 0.15% expense ratio, compared with 0.45% for FLXE.DE.
FLXE.DE tracks MSCI EM NR USD, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: Franklin Templeton and HSBC. Their fees differ too: 0.45% for FLXE.DE and 0.15% for H410.DE.
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