FRCH.L vs. FLXC.L

Last updated Jun 5, 2026

FRCH.L (Franklin FTSE China UCITS ETF) and FLXC.L (Franklin FTSE China UCITS ETF) are both China Equities funds from Franklin Templeton tracking the MSCI China NR USD. Both are passively managed. Over the past 5 years, FRCH.L returned -3.83%/yr vs -3.80%/yr for FLXC.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.19% expense ratio.

Performance

FRCH.L vs. FLXC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin FTSE China UCITS ETF (FRCH.L) and Franklin FTSE China UCITS ETF (FLXC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with FRCH.L having a -6.14% return and FLXC.L slightly higher at -5.86%.

FRCH.L

• 1D: -0.31%
• 1M: -2.10%
• YTD: -6.14%
• 6M: -8.12%
• 1Y: 7.54%
• 3Y*: 8.07%
• 5Y*: -3.83%
• 10Y*: —

FLXC.L

• 1D: -0.43%
• 1M: -2.14%
• YTD: -5.86%
• 6M: -8.11%
• 1Y: 7.68%
• 3Y*: 8.16%
• 5Y*: -3.80%
• 10Y*: —

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

FRCH.L vs. FLXC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRCH.L Franklin FTSE China UCITS ETF	-6.14%	23.22%	21.12%	-17.46%	-13.83%	-19.34%	26.80%	12.04%
FLXC.L Franklin FTSE China UCITS ETF	-5.86%	22.74%	21.44%	-17.10%	-13.73%	-19.73%	27.37%	11.38%

Correlation

The correlation between FRCH.L and FLXC.L is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 10, 2019	0.96

The correlation between FRCH.L and FLXC.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

FRCH.L vs. FLXC.L - Sectors Allocation Comparison

Sectors	FRCH.L	FLXC.L
Consumer Cyclical	24.5%	30.8%
Financial Services	18.3%	15.5%
Communication Services	16.4%	23.6%
Technology	11.3%	9.3%
Industrials	7.9%	4.1%
Basic Materials	5.6%	2.3%
Healthcare	5.5%	6.0%
Energy	3.5%	2.4%
Consumer Defensive	3.3%	3.2%
Utilities	2.0%	1.8%
Real Estate	1.7%	0.7%

Return for Risk

FRCH.L vs. FLXC.L — Risk / Return Rank

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

FRCH.L

FRCH.L Risk / Return Rank: 15
FRCH.L Sharpe Ratio Rank: 16
FRCH.L Sortino Ratio Rank: 16
FRCH.L Omega Ratio Rank: 15
FRCH.L Calmar Ratio Rank: 15
FRCH.L Martin Ratio Rank: 14

FLXC.L

FLXC.L Risk / Return Rank: 14
FLXC.L Sharpe Ratio Rank: 15
FLXC.L Sortino Ratio Rank: 15
FLXC.L Omega Ratio Rank: 14
FLXC.L Calmar Ratio Rank: 14
FLXC.L Martin Ratio Rank: 14

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.

FRCH.L vs. FLXC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China UCITS ETF (FRCH.L) and Franklin FTSE China UCITS ETF (FLXC.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.

	FRCH.L	FLXC.L	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.42	+0.01
Sortino ratio: Return per unit of downside risk	0.71	0.71	0.00
Omega ratio: Gain probability vs. loss probability	1.08	1.08	0.00
Calmar ratio: Return relative to maximum drawdown	0.48	0.49	-0.01
Martin ratio: Return relative to average drawdown	1.00	1.04	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRCH.L vs. FLXC.L - Sharpe Ratio Comparison

The current FRCH.L Sharpe Ratio is 0.43, which is comparable to the FLXC.L Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of FRCH.L and FLXC.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.

Sharpe Ratios by Period

	FRCH.L	FLXC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.42	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	-0.12	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.06	-0.11

Drawdowns

FRCH.L vs. FLXC.L - Drawdown Comparison

The maximum FRCH.L drawdown since its inception was -56.27%, smaller than the maximum FLXC.L drawdown of -64.79%. Use the drawdown chart below to compare losses from any high point for FRCH.L and FLXC.L.

Drawdown Indicators

	FRCH.L	FLXC.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.27%	-64.79%	+8.52%
Max Drawdown (1Y) Largest decline over 1 year	-15.77%	-15.72%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-29.42%	-39.33%	+9.91%
Max Drawdown (5Y) Largest decline over 5 years	-49.18%	-59.08%	+9.90%
Current Drawdown Current decline from peak	-31.36%	-31.23%	-0.13%
Average Drawdown Average peak-to-trough decline	-29.72%	-28.65%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.53%	7.39%	+0.14%

Volatility

FRCH.L vs. FLXC.L - Volatility Comparison

Franklin FTSE China UCITS ETF (FRCH.L) and Franklin FTSE China UCITS ETF (FLXC.L) have volatilities of 6.61% and 6.92%, 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.

Volatility by Period

	FRCH.L	FLXC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	6.92%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	13.01%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.57%	18.34%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.60%	31.62%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.15%	29.77%	+1.38%

FRCH.L vs. FLXC.L - Expense Ratio Comparison

Both FRCH.L and FLXC.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

FRCH.L vs. FLXC.L - Dividend Comparison

Neither FRCH.L nor FLXC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FRCH.L and FLXC.L in my portfolio?

With a correlation of 0.96, FRCH.L and FLXC.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, FRCH.L or FLXC.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, FRCH.L or FLXC.L?

FRCH.L and FLXC.L have the same expense ratio: 0.19% per year.

What is the main difference between FRCH.L and FLXC.L?

Both ETFs track MSCI China NR USD.