FLXK.DE vs. H410.DE

Last updated Jun 26, 2026

FLXK.DE (Franklin FTSE Korea UCITS ETF) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Asia Pacific Equities funds - FLXK.DE tracks the FTSE Korea 30/18 Capped while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, FLXK.DE returned 20.69%/yr vs 8.10%/yr for H410.DE. A 0.77 correlation means they provide meaningful diversification when combined. FLXK.DE charges 0.09%/yr vs 0.15%/yr for H410.DE.

Performance

FLXK.DE vs. H410.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Franklin FTSE Korea UCITS ETF (FLXK.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLXK.DE achieves a 120.70% return, which is significantly higher than H410.DE's 29.00% return.

FLXK.DE

• 1D: 2.42%
• 1M: 6.06%
• YTD: 120.70%
• 6M: 135.17%
• 1Y: 205.43%
• 3Y*: 49.56%
• 5Y*: 20.69%
• 10Y*: —

H410.DE

• 1D: 0.59%
• 1M: 2.35%
• YTD: 29.00%
• 6M: 31.09%
• 1Y: 48.55%
• 3Y*: 21.48%
• 5Y*: 8.10%
• 10Y*: 10.19%

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

FLXK.DE vs. H410.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLXK.DE Franklin FTSE Korea UCITS ETF	120.70%	73.19%	-17.07%	16.75%	-23.45%	0.14%	34.15%	1.72%
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	29.00%	18.65%	13.95%	4.67%	-13.87%	4.04%	6.95%	12.96%

Correlation

The correlation between FLXK.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	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.77

The correlation between FLXK.DE and H410.DE has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

Return for Risk

FLXK.DE vs. H410.DE — Risk / Return Rank

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

FLXK.DE

FLXK.DE Risk / Return Rank: 97
FLXK.DE Sharpe Ratio Rank: 98
FLXK.DE Sortino Ratio Rank: 95
FLXK.DE Omega Ratio Rank: 96
FLXK.DE Calmar Ratio Rank: 97
FLXK.DE Martin Ratio Rank: 97

H410.DE

H410.DE Risk / Return Rank: 86
H410.DE Sharpe Ratio Rank: 88
H410.DE Sortino Ratio Rank: 85
H410.DE Omega Ratio Rank: 86
H410.DE Calmar Ratio Rank: 88
H410.DE Martin Ratio Rank: 86

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.

FLXK.DE vs. H410.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Korea UCITS ETF (FLXK.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.

	FLXK.DE	H410.DE	Difference
Sharpe ratio: Return per unit of total volatility	4.98	2.53	+2.45
Sortino ratio: Return per unit of downside risk	4.58	3.30	+1.28
Omega ratio: Gain probability vs. loss probability	1.68	1.46	+0.22
Calmar ratio: Return relative to maximum drawdown	9.75	4.62	+5.14
Martin ratio: Return relative to average drawdown	33.05	15.71	+17.34

FLXK.DE vs. H410.DE - Sharpe Ratio Comparison

The current FLXK.DE Sharpe Ratio is 4.98, which is higher than the H410.DE Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FLXK.DE and H410.DE, 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

FLXK.DE vs. H410.DE - Drawdown Comparison

The maximum FLXK.DE drawdown since its inception was -39.43%, roughly equal to the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for FLXK.DE and H410.DE.

Drawdown Indicators

	FLXK.DE	H410.DE	Difference
Max Drawdown Largest peak-to-trough decline	-39.43%	-41.02%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-20.92%	-10.47%	-10.45%
Max Drawdown (3Y) Largest decline over 3 years	-29.99%	-19.01%	-10.98%
Max Drawdown (5Y) Largest decline over 5 years	-39.36%	-23.75%	-15.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.62%	—
Current Drawdown Current decline from peak	-6.66%	-3.84%	-2.82%
Average Drawdown Average peak-to-trough decline	-15.81%	-13.33%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.19%	3.08%	+3.11%

Volatility

FLXK.DE vs. H410.DE - Volatility Comparison

Franklin FTSE Korea UCITS ETF (FLXK.DE) has a higher volatility of 19.24% compared to HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) at 8.67%. This indicates that FLXK.DE's price experiences larger fluctuations and is considered to be riskier than H410.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXK.DE	H410.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.24%	8.67%	+10.57%
Volatility (6M) Calculated over the trailing 6-month period	37.03%	16.75%	+20.28%
Volatility (1Y) Calculated over the trailing 1-year period	40.98%	19.10%	+21.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.45%	17.00%	+9.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.69%	18.27%	+9.42%

FLXK.DE vs. H410.DE - Expense Ratio Comparison

FLXK.DE has a 0.09% expense ratio, which is lower than H410.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLXK.DE vs. H410.DE - Dividend Comparison

FLXK.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.58%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLXK.DE Franklin FTSE Korea 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	1.58%	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

Can I hold both FLXK.DE and H410.DE in my portfolio?

FLXK.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.

Which ETF is better, FLXK.DE or H410.DE?

On fees, FLXK.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXK.DE or H410.DE?

FLXK.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for H410.DE.

What is the main difference between FLXK.DE and H410.DE?

FLXK.DE tracks FTSE Korea 30/18 Capped, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: Franklin Templeton and HSBC. Their fees differ too: 0.09% for FLXK.DE and 0.15% for H410.DE.