FLXI.L vs. FRIN.L

Last updated Jul 18, 2026

FLXI.L (Franklin FTSE India UCITS ETF USD (Acc)) and FRIN.L (Franklin FTSE India UCITS ETF) are both India Equities funds - FLXI.L tracks the FTSE India 30/18 Capped Index - Net Return while FRIN.L tracks the MSCI India NR USD. Both are passively managed. Over the past 5 years, FLXI.L returned 5.07%/yr vs 5.19%/yr for FRIN.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.19% expense ratio.

Performance

FLXI.L vs. FRIN.L - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with FLXI.L having a -8.59% return and FRIN.L slightly higher at -8.26%.

FLXI.L

• 1D: 0.24%
• 1M: -0.91%
• 6M: -6.45%
• YTD: -8.59%
• 1Y: -9.65%
• 3Y*: 5.34%
• 5Y*: 5.07%
• 10Y*: —

FRIN.L

• 1D: 0.67%
• 1M: 0.38%
• 6M: -6.04%
• YTD: -8.26%
• 1Y: -9.39%
• 3Y*: 5.76%
• 5Y*: 5.19%
• 10Y*: —

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

FLXI.L vs. FRIN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLXI.L Franklin FTSE India UCITS ETF USD (Acc)	-8.59%	2.92%	10.75%	22.03%	-8.29%	24.89%	13.06%	-0.86%
FRIN.L Franklin FTSE India UCITS ETF	-8.26%	3.14%	10.73%	20.80%	-7.86%	25.40%	12.53%	-0.47%

Correlation

The correlation between FLXI.L and FRIN.L is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019	0.94

The correlation between FLXI.L and FRIN.L has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

FLXI.L vs. FRIN.L — Risk / Return Rank

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

FLXI.L

FLXI.L Risk / Return Rank: 4
FLXI.L Sharpe Ratio Rank: 5
FLXI.L Sortino Ratio Rank: 4
FLXI.L Omega Ratio Rank: 5
FLXI.L Calmar Ratio Rank: 5
FLXI.L Martin Ratio Rank: 3

FRIN.L

FRIN.L Risk / Return Rank: 4
FRIN.L Sharpe Ratio Rank: 4
FRIN.L Sortino Ratio Rank: 4
FRIN.L Omega Ratio Rank: 4
FRIN.L Calmar Ratio Rank: 5
FRIN.L Martin Ratio Rank: 4

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.

FLXI.L vs. FRIN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE India UCITS ETF USD (Acc) (FLXI.L) and Franklin FTSE India UCITS ETF (FRIN.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.

	FLXI.L	FRIN.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.62	+0.02
Sortino ratio: Return per unit of downside risk	-0.80	-0.83	+0.02
Omega ratio: Gain probability vs. loss probability	0.91	0.91	0.00
Calmar ratio: Return relative to maximum drawdown	-0.53	-0.51	-0.02
Martin ratio: Return relative to average drawdown	-1.23	-1.18	-0.05

FLXI.L vs. FRIN.L - Sharpe Ratio Comparison

The current FLXI.L Sharpe Ratio is -0.60, which is comparable to the FRIN.L Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of FLXI.L and FRIN.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

FLXI.L vs. FRIN.L - Drawdown Comparison

The maximum FLXI.L drawdown since its inception was -41.86%, roughly equal to the maximum FRIN.L drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for FLXI.L and FRIN.L.

Drawdown Indicators

	FLXI.L	FRIN.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.86%	-41.56%	-0.30%
Max Drawdown (1Y) Largest decline over 1 year	-18.12%	-18.21%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-22.99%	-22.85%	-0.14%
Max Drawdown (5Y) Largest decline over 5 years	-22.99%	-22.85%	-0.14%
Current Drawdown Current decline from peak	-16.04%	-15.53%	-0.51%
Average Drawdown Average peak-to-trough decline	-8.27%	-8.27%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.85%	7.97%	-0.12%

Volatility

FLXI.L vs. FRIN.L - Volatility Comparison

Franklin FTSE India UCITS ETF USD (Acc) (FLXI.L) has a higher volatility of 4.00% compared to Franklin FTSE India UCITS ETF (FRIN.L) at 3.47%. This indicates that FLXI.L's price experiences larger fluctuations and is considered to be riskier than FRIN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXI.L	FRIN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.47%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	12.86%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	15.04%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	16.86%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.37%	20.78%	+0.59%

FLXI.L vs. FRIN.L - Expense Ratio Comparison

Both FLXI.L and FRIN.L have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FLXI.L vs. FRIN.L - Dividend Comparison

Neither FLXI.L nor FRIN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLXI.L and FRIN.L in my portfolio?

With a correlation of 0.91, FLXI.L and FRIN.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, FLXI.L or FRIN.L?

Both ETFs have the same 0.19% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXI.L or FRIN.L?

FLXI.L and FRIN.L have the same expense ratio: 0.19% per year.

What is the main difference between FLXI.L and FRIN.L?

FLXI.L tracks FTSE India 30/18 Capped Index - Net Return, while FRIN.L tracks MSCI India NR USD. They also come from different issuers: Franklin and Franklin Templeton.