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FLXU.L vs. INAA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLXU.L vs. INAA.L

Last updated Jun 5, 2026

FLXU.L (Franklin LibertyQ U.S. Equity UCITS ETF) and INAA.L (iShares MSCI North America UCITS) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from Franklin Templeton and iShares respectively. Both are passively managed. Over the past 5 years, FLXU.L returned 13.30%/yr vs 14.13%/yr for INAA.L. Their correlation of 0.91 suggests significant overlap in exposure. FLXU.L charges 0.25%/yr vs 0.40%/yr for INAA.L.

Performance

FLXU.L vs. INAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) and iShares MSCI North America UCITS (INAA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FLXU.L is traded in GBP, while INAA.L is traded in GBp. To make them comparable, the INAA.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLXU.L achieves a 12.19% return, which is significantly higher than INAA.L's 10.28% return.

FLXU.L

1D
-0.02%
1M
5.23%
YTD
12.19%
6M
11.97%
1Y
30.69%
3Y*
15.71%
5Y*
13.30%
10Y*
—

INAA.L

1D
0.05%
1M
5.57%
YTD
10.28%
6M
10.24%
1Y
28.60%
3Y*
18.80%
5Y*
14.13%
10Y*
15.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLXU.L vs. INAA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLXU.L
Franklin LibertyQ U.S. Equity UCITS ETF		12.19%13.10%12.49%8.52%2.19%28.57%5.69%24.32%2.24%8.48%
INAA.L
iShares MSCI North America UCITS		10.28%9.48%26.59%19.48%-10.23%28.62%15.54%25.93%-1.17%6.95%

Correlation

The correlation between FLXU.L and INAA.L is 0.94, 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

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.88

Correlation (All Time)
Calculated using the full available price history since Sep 11, 2017

0.91

The correlation between FLXU.L and INAA.L has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

FLXU.L vs. INAA.L - Sectors Allocation Comparison

Sectors
FLXU.L
INAA.L

Technology

34.3%
36.4%

Communication Services

12.2%
10.4%

Consumer Cyclical

11.5%
9.6%

Healthcare

10.5%
8.1%

Industrials

10.1%
8.2%

Financial Services

9.9%
12.4%

Consumer Defensive

4.4%
4.6%

Real Estate

2.9%
1.8%

Basic Materials

1.7%
2.3%

Utilities

1.6%
2.1%

Energy

1.0%
4.1%

Technology

FLXU.L
34.3%
INAA.L
36.4%

Communication Services

FLXU.L
12.2%
INAA.L
10.4%

Consumer Cyclical

FLXU.L
11.5%
INAA.L
9.6%

Healthcare

FLXU.L
10.5%
INAA.L
8.1%

Industrials

FLXU.L
10.1%
INAA.L
8.2%

Financial Services

FLXU.L
9.9%
INAA.L
12.4%

Consumer Defensive

FLXU.L
4.4%
INAA.L
4.6%

Real Estate

FLXU.L
2.9%
INAA.L
1.8%

Basic Materials

FLXU.L
1.7%
INAA.L
2.3%

Utilities

FLXU.L
1.6%
INAA.L
2.1%

Energy

FLXU.L
1.0%
INAA.L
4.1%

Compare stocks, funds, or ETFs

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Franklin LibertyQ U.S. Equity UCITS ETF

iShares MSCI North America UCITS

Often compared with FLXU.L:
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Often compared with INAA.L:
INAA.L vs. VNRT.ASINAA.L vs. EUE.LINAA.L vs. BIBDXINAA.L vs. MXUS.LINAA.L vs. VAPX.LINAA.L vs. VTIINAA.L vs. EFA

Return for Risk

FLXU.L vs. INAA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLXU.L
FLXU.L Risk / Return Rank: 8686
Overall Rank
FLXU.L Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
FLXU.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
FLXU.L Omega Ratio Rank: 8484
Omega Ratio Rank
FLXU.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
FLXU.L Martin Ratio Rank: 8888
Martin Ratio Rank
INAA.L
INAA.L Risk / Return Rank: 8080
Overall Rank
INAA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
INAA.L Sortino Ratio Rank: 8282
Sortino Ratio Rank
INAA.L Omega Ratio Rank: 8484
Omega Ratio Rank
INAA.L Calmar Ratio Rank: 7878
Calmar Ratio Rank
INAA.L Martin Ratio Rank: 7575
Martin Ratio Rank
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.

FLXU.L vs. INAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) and iShares MSCI North America UCITS (INAA.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.

FLXU.LINAA.LDifference
Sharpe ratioReturn per unit of total volatility
2.72
2.69

+0.03

Sortino ratioReturn per unit of downside risk
3.77
3.59

+0.17

Omega ratioGain probability vs. loss probability

1.50

1.50

0.00

Calmar ratioReturn relative to maximum drawdown

5.18

3.93

+1.25

Martin ratioReturn relative to average drawdown

18.83

14.18

+4.65

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLXU.L vs. INAA.L - Sharpe Ratio Comparison

The current FLXU.L Sharpe Ratio is 2.72, which is comparable to the INAA.L Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of FLXU.L and INAA.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.

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Sharpe Ratios by Period

FLXU.LINAA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.72

2.69

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

0.99

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.00

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.89

0.74

+0.16

Drawdowns

FLXU.L vs. INAA.L - Drawdown Comparison

The maximum FLXU.L drawdown since its inception was -24.72%, smaller than the maximum INAA.L drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for FLXU.L and INAA.L.

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Drawdown Indicators

FLXU.LINAA.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.72%

-35.35%

+10.63%

Max Drawdown (1Y)

Largest decline over 1 year

-5.90%

-7.24%

+1.34%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-21.20%

+1.07%

Max Drawdown (5Y)

Largest decline over 5 years

-20.13%

-21.20%

+1.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.15%

—

Current Drawdown

Current decline from peak

-0.02%

-0.17%

+0.15%

Average Drawdown

Average peak-to-trough decline

-3.01%

-4.71%

+1.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

2.01%

-0.38%

Volatility

FLXU.L vs. INAA.L - Volatility Comparison

Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) has a higher volatility of 3.47% compared to iShares MSCI North America UCITS (INAA.L) at 2.63%. This indicates that FLXU.L's price experiences larger fluctuations and is considered to be riskier than INAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLXU.LINAA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

2.63%

+0.84%

Volatility (6M)

Calculated over the trailing 6-month period

8.19%

7.13%

+1.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.24%

10.60%

+0.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.07%

14.42%

-1.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.93%

15.63%

-0.70%

FLXU.L vs. INAA.L - Expense Ratio Comparison

FLXU.L has a 0.25% expense ratio, which is lower than INAA.L's 0.40% expense ratio.

Dividends

FLXU.L vs. INAA.L - Dividend Comparison

FLXU.L has not paid dividends to shareholders, while INAA.L's dividend yield for the trailing twelve months is around 0.61%.

PositionTTM20252024202320222021202020192018201720162015
FLXU.L
Franklin LibertyQ U.S. Equity 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%
INAA.L
iShares MSCI North America UCITS		0.61%0.66%0.76%0.98%1.11%0.74%1.09%1.26%1.40%1.32%1.30%1.51%

Frequently Asked Questions

With a correlation of 0.94, FLXU.L and INAA.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, FLXU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLXU.L is cheaper with a 0.25% expense ratio, compared with 0.40% for INAA.L.

Both ETFs track Russell 1000 TR USD. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.25% for FLXU.L and 0.40% for INAA.L.

Portfolio Optimizer

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