FRCH.L vs. FXC.L

Last updated Apr 2, 2026

Compare and contrast key facts about Franklin FTSE China UCITS ETF (FRCH.L) and iShares China Large Cap UCITS (FXC.L).

FRCH.L and FXC.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRCH.L is a passively managed fund by Franklin Templeton that tracks the performance of the MSCI China NR USD. It was launched on Jun 4, 2019. FXC.L is a passively managed fund by iShares that tracks the performance of the MSCI China NR USD. It was launched on Oct 21, 2004. Both FRCH.L and FXC.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FRCH.L vs. FXC.L - Performance Comparison

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRCH.L Franklin FTSE China UCITS ETF	-4.52%	23.22%	21.12%	-17.46%	-13.83%	-19.34%	26.80%	-10.87%
FXC.L iShares China Large Cap UCITS	-5.70%	20.50%	33.78%	-17.86%	-10.68%	-18.89%	7.61%	7.60%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FRCH.L achieves a -4.52% return, which is significantly higher than FXC.L's -5.70% return.

FRCH.L

• 1D: 0.72%
• 1M: -3.46%
• YTD: -4.52%
• 6M: -11.49%
• 1Y: 4.35%
• 3Y*: 4.94%
• 5Y*: -4.09%
• 10Y*: —

FXC.L

• 1D: 0.27%
• 1M: -1.91%
• YTD: -5.70%
• 6M: -11.30%
• 1Y: -0.43%
• 3Y*: 7.17%
• 5Y*: -1.99%
• 10Y*: 4.56%

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

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

FRCH.L has a 0.19% expense ratio, which is lower than FXC.L's 0.74% expense ratio.

FXC.L

iShares China Large Cap UCITS

FRCH.L

Franklin FTSE China UCITS ETF

Return for Risk

FRCH.L vs. FXC.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: 17
FRCH.L Sharpe Ratio Rank: 17
FRCH.L Sortino Ratio Rank: 16
FRCH.L Omega Ratio Rank: 16
FRCH.L Calmar Ratio Rank: 19
FRCH.L Martin Ratio Rank: 18

FXC.L

FXC.L Risk / Return Rank: 12
FXC.L Sharpe Ratio Rank: 11
FXC.L Sortino Ratio Rank: 11
FXC.L Omega Ratio Rank: 11
FXC.L Calmar Ratio Rank: 13
FXC.L Martin Ratio Rank: 13

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. FXC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China UCITS ETF (FRCH.L) and iShares China Large Cap UCITS (FXC.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	FXC.L	Difference
Sharpe ratio Return per unit of total volatility	0.22	-0.02	+0.24
Sortino ratio Return per unit of downside risk	0.42	0.11	+0.32
Omega ratio Gain probability vs. loss probability	1.05	1.01	+0.04
Calmar ratio Return relative to maximum drawdown	0.38	0.06	+0.31
Martin ratio Return relative to average drawdown	0.95	0.16	+0.78
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. FXC.L - Sharpe Ratio Comparison

The current FRCH.L Sharpe Ratio is 0.22, which is higher than the FXC.L Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of FRCH.L and FXC.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRCH.L	FXC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	-0.02	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	-0.07	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.31	-0.35

Correlation

The correlation between FRCH.L and FXC.L is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRCH.L vs. FXC.L - Dividend Comparison

FRCH.L has not paid dividends to shareholders, while FXC.L's dividend yield for the trailing twelve months is around 2.55%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRCH.L Franklin FTSE China 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%
FXC.L iShares China Large Cap UCITS	2.55%	2.37%	2.99%	3.10%	2.85%	2.51%	3.26%	3.22%	3.89%	3.18%	3.04%	4.00%

Drawdowns

FRCH.L vs. FXC.L - Drawdown Comparison

The maximum FRCH.L drawdown since its inception was -56.27%, smaller than the maximum FXC.L drawdown of -60.51%. Use the drawdown chart below to compare losses from any high point for FRCH.L and FXC.L.

Drawdown Indicators

	FRCH.L	FXC.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.27%	-60.51%	+4.24%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-14.54%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-49.50%	-47.53%	-1.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.90%	—
Current Drawdown Current decline from peak	-30.18%	-20.86%	-9.32%
Average Drawdown Average peak-to-trough decline	-29.71%	-18.75%	-10.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	5.68%	+0.24%

Volatility

FRCH.L vs. FXC.L - Volatility Comparison

Franklin FTSE China UCITS ETF (FRCH.L) has a higher volatility of 5.81% compared to iShares China Large Cap UCITS (FXC.L) at 5.18%. This indicates that FRCH.L's price experiences larger fluctuations and is considered to be riskier than FXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRCH.L	FXC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	5.18%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	12.94%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	20.19%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.61%	28.16%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.39%	24.97%	+6.42%