FLXK.L vs. XKS2.L
FLXK.L (Franklin FTSE Korea UCITS ETF USD (Acc)) and XKS2.L (Xtrackers MSCI Korea UCITS ETF 1C) are both South Korea Equities funds - FLXK.L tracks the FTSE Korea 30/18 Capped Index (Net Return) while XKS2.L tracks the MSCI Korea NR USD. Both are passively managed. Over the past 5 years, FLXK.L returned 15.20%/yr vs 14.25%/yr for XKS2.L. With a 0.96 correlation, they move nearly in lockstep. FLXK.L charges 0.09%/yr vs 0.65%/yr for XKS2.L.
Performance
FLXK.L vs. XKS2.L - Performance Comparison
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Different Trading Currencies
FLXK.L is traded in USD, while XKS2.L is traded in GBp. To make them comparable, the XKS2.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FLXK.L achieves a 71.91% return, which is significantly higher than XKS2.L's 66.61% return.
FLXK.L
- 1D
- -2.04%
- 1M
- -22.39%
- 6M
- 50.11%
- YTD
- 71.91%
- 1Y
- 137.12%
- 3Y*
- 38.47%
- 5Y*
- 15.20%
- 10Y*
- —
XKS2.L
- 1D
- -1.72%
- 1M
- -22.20%
- 6M
- 45.48%
- YTD
- 66.61%
- 1Y
- 134.33%
- 3Y*
- 36.96%
- 5Y*
- 14.25%
- 10Y*
- 14.13%
FLXK.L vs. XKS2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLXK.L Franklin FTSE Korea UCITS ETF USD (Acc) | 71.91% | 94.79% | -21.63% | 20.77% | -28.01% | -6.85% | 47.31% | 13.27% |
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C | 66.61% | 99.81% | -22.97% | 19.42% | -28.16% | -8.05% | 42.89% | 14.50% |
Correlation
The correlation between FLXK.L and XKS2.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.96 |
The correlation between FLXK.L and XKS2.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FLXK.L vs. XKS2.L — Risk / Return Rank
FLXK.L
XKS2.L
FLXK.L vs. XKS2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) and Xtrackers MSCI Korea UCITS ETF 1C (XKS2.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 | XKS2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.45 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 5.32 | 5.30 | +0.02 |
| Martin ratioReturn relative to average drawdown | 17.39 | 16.95 | +0.44 |
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Drawdowns
FLXK.L vs. XKS2.L - Drawdown Comparison
The maximum FLXK.L drawdown since its inception was -49.43%, smaller than the maximum XKS2.L drawdown of -83.33%. Use the drawdown chart below to compare losses from any high point for FLXK.L and XKS2.L.
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Drawdown Indicators
| FLXK.L | XKS2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.43% | -83.33% | +33.90% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -25.22% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -28.54% | -35.55% | +7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -47.00% | -47.37% | +0.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.13% | — |
Current DrawdownCurrent decline from peak | -25.64% | -25.22% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -20.23% | -42.53% | +22.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 7.89% | -0.03% |
Volatility
FLXK.L vs. XKS2.L - Volatility Comparison
Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) and Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) have volatilities of 18.88% and 19.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXK.L | XKS2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.88% | 19.07% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 41.57% | 39.90% | +1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.12% | 43.97% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.63% | 32.44% | -2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.60% | 28.55% | +1.05% |
FLXK.L vs. XKS2.L - Expense Ratio Comparison
FLXK.L has a 0.09% expense ratio, which is lower than XKS2.L's 0.65% expense ratio.
Dividends
FLXK.L vs. XKS2.L - Dividend Comparison
Neither FLXK.L nor XKS2.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, FLXK.L and XKS2.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.
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.
FLXK.L is cheaper with a 0.09% expense ratio, compared with 0.65% for XKS2.L.
FLXK.L tracks FTSE Korea 30/18 Capped Index (Net Return), while XKS2.L tracks MSCI Korea NR USD. They also come from different issuers: Franklin and Xtrackers. Their fees differ too: 0.09% for FLXK.L and 0.65% for XKS2.L.
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