FLXK.L vs. FREM.L

Last updated Jul 16, 2026

FLXK.L (Franklin FTSE Korea UCITS ETF) and FREM.L (Franklin EM Multi-Factor Equity UCITS ETF) are both Global Equities funds from Franklin - FLXK.L tracks the Franklin FTSE Korea UCITS ETF while FREM.L tracks the Franklin EM Multi-Factor Equity UCITS ETF. Both are passively managed. Over the past 5 years, FLXK.L returned 15.67%/yr vs 7.07%/yr for FREM.L. A 0.72 correlation means they provide meaningful diversification when combined. FLXK.L charges 0.09%/yr vs 0.45%/yr for FREM.L.

Performance

FLXK.L vs. FREM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Korea UCITS ETF (FLXK.L) and Franklin EM Multi-Factor Equity UCITS ETF (FREM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLXK.L achieves a 75.46% return, which is significantly higher than FREM.L's 13.22% return.

FLXK.L

• 1D: -1.68%
• 1M: -19.56%
• 6M: 57.13%
• YTD: 75.46%
• 1Y: 141.50%
• 3Y*: 39.45%
• 5Y*: 15.67%
• 10Y*: —

FREM.L

• 1D: 0.66%
• 1M: -3.28%
• 6M: 9.24%
• YTD: 13.22%
• 1Y: 23.10%
• 3Y*: 16.92%
• 5Y*: 7.07%
• 10Y*: —

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

FLXK.L vs. FREM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLXK.L Franklin FTSE Korea UCITS ETF	75.46%	94.79%	-21.63%	20.77%	-28.01%	-6.85%	47.31%	13.27%
FREM.L Franklin EM Multi-Factor Equity UCITS ETF	13.22%	27.77%	6.27%	12.53%	-19.30%	7.08%	1.89%	8.18%

Correlation

The correlation between FLXK.L and FREM.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.72

The correlation between FLXK.L and FREM.L has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

FLXK.L vs. FREM.L — Risk / Return Rank

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

FLXK.L

FLXK.L Risk / Return Rank: 92
FLXK.L Sharpe Ratio Rank: 96
FLXK.L Sortino Ratio Rank: 88
FLXK.L Omega Ratio Rank: 90
FLXK.L Calmar Ratio Rank: 95
FLXK.L Martin Ratio Rank: 93

FREM.L

FREM.L Risk / Return Rank: 51
FREM.L Sharpe Ratio Rank: 52
FREM.L Sortino Ratio Rank: 50
FREM.L Omega Ratio Rank: 51
FREM.L Calmar Ratio Rank: 52
FREM.L Martin Ratio Rank: 50

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.L vs. FREM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Korea UCITS ETF (FLXK.L) and Franklin EM Multi-Factor Equity UCITS ETF (FREM.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.

	FLXK.L	FREM.L	Difference
Sharpe ratio: Return per unit of total volatility	3.14	1.46	+1.68
Sortino ratio: Return per unit of downside risk	3.28	2.06	+1.22
Omega ratio: Gain probability vs. loss probability	1.47	1.26	+0.20
Calmar ratio: Return relative to maximum drawdown	5.86	2.15	+3.71
Martin ratio: Return relative to average drawdown	18.40	6.68	+11.72

FLXK.L vs. FREM.L - Sharpe Ratio Comparison

The current FLXK.L Sharpe Ratio is 3.14, which is higher than the FREM.L Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FLXK.L and FREM.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

FLXK.L vs. FREM.L - Drawdown Comparison

The maximum FLXK.L drawdown since its inception was -49.43%, which is greater than FREM.L's maximum drawdown of -39.05%. Use the drawdown chart below to compare losses from any high point for FLXK.L and FREM.L.

Drawdown Indicators

	FLXK.L	FREM.L	Difference
Max Drawdown Largest peak-to-trough decline	-49.43%	-39.05%	-10.38%
Max Drawdown (1Y) Largest decline over 1 year	-24.10%	-10.52%	-13.58%
Max Drawdown (3Y) Largest decline over 3 years	-28.54%	-12.98%	-15.56%
Max Drawdown (5Y) Largest decline over 5 years	-47.00%	-29.99%	-17.01%
Current Drawdown Current decline from peak	-24.10%	-3.94%	-20.16%
Average Drawdown Average peak-to-trough decline	-20.23%	-10.95%	-9.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.70%	3.40%	+4.30%

Volatility

FLXK.L vs. FREM.L - Volatility Comparison

Franklin FTSE Korea UCITS ETF (FLXK.L) has a higher volatility of 19.75% compared to Franklin EM Multi-Factor Equity UCITS ETF (FREM.L) at 4.42%. This indicates that FLXK.L's price experiences larger fluctuations and is considered to be riskier than FREM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXK.L	FREM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.75%	4.42%	+15.33%
Volatility (6M) Calculated over the trailing 6-month period	41.53%	13.68%	+27.85%
Volatility (1Y) Calculated over the trailing 1-year period	45.08%	15.54%	+29.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.63%	15.34%	+14.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.61%	16.94%	+12.67%

FLXK.L vs. FREM.L - Expense Ratio Comparison

FLXK.L has a 0.09% expense ratio, which is lower than FREM.L's 0.45% expense ratio.

Dividends

FLXK.L vs. FREM.L - Dividend Comparison

Neither FLXK.L nor FREM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLXK.L and FREM.L in my portfolio?

FLXK.L and FREM.L have a correlation of 0.71, 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.L or FREM.L?

On fees, FLXK.L 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.L or FREM.L?

FLXK.L is cheaper with a 0.09% expense ratio, compared with 0.45% for FREM.L.

What is the main difference between FLXK.L and FREM.L?

FLXK.L tracks Franklin FTSE Korea UCITS ETF, while FREM.L tracks Franklin EM Multi-Factor Equity UCITS ETF. Their fees differ too: 0.09% for FLXK.L and 0.45% for FREM.L.