FREM.L vs. E127.L
FREM.L (Franklin EM Multi-Factor Equity UCITS ETF USD (Acc)) and E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) are both Emerging Markets Equities funds - FREM.L tracks the LibertyQ Emerging Markets Index-NR while E127.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, FREM.L returned 6.96%/yr vs 6.55%/yr for E127.L. Their correlation of 0.85 suggests significant overlap in exposure. FREM.L charges 0.30%/yr vs 0.14%/yr for E127.L.
Performance
FREM.L vs. E127.L - Performance Comparison
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Different Trading Currencies
FREM.L is traded in USD, while E127.L is traded in GBP. To make them comparable, the E127.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FREM.L achieves a 11.87% return, which is significantly lower than E127.L's 16.04% return.
FREM.L
- 1D
- -0.71%
- 1M
- -3.96%
- 6M
- 7.88%
- YTD
- 11.87%
- 1Y
- 21.67%
- 3Y*
- 16.78%
- 5Y*
- 6.96%
- 10Y*
- —
E127.L
- 1D
- -2.15%
- 1M
- -8.90%
- 6M
- 10.42%
- YTD
- 16.04%
- 1Y
- 31.70%
- 3Y*
- 19.32%
- 5Y*
- 6.55%
- 10Y*
- —
FREM.L vs. E127.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FREM.L Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) | 11.87% | 27.77% | 6.27% | 12.53% | -19.30% | 7.08% | 26.71% |
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 16.04% | 34.89% | 7.57% | 8.20% | -19.65% | -2.76% | 40.59% |
Correlation
The correlation between FREM.L and E127.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 20, 2020 | 0.85 |
The correlation between FREM.L and E127.L has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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Return for Risk
FREM.L vs. E127.L — Risk / Return Rank
FREM.L
E127.L
FREM.L vs. E127.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) (FREM.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.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.
| FREM.L | E127.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.46 | -0.41 |
| Martin ratioReturn relative to average drawdown | 6.30 | 7.77 | -1.47 |
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Drawdowns
FREM.L vs. E127.L - Drawdown Comparison
The maximum FREM.L drawdown since its inception was -39.05%, roughly equal to the maximum E127.L drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for FREM.L and E127.L.
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Drawdown Indicators
| FREM.L | E127.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.05% | -39.93% | +0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -12.84% | +2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -12.98% | -16.66% | +3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -29.99% | -34.73% | +4.74% |
Current DrawdownCurrent decline from peak | -5.08% | -11.11% | +6.03% |
Average DrawdownAverage peak-to-trough decline | -10.94% | -15.54% | +4.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 4.07% | -0.64% |
Volatility
FREM.L vs. E127.L - Volatility Comparison
The current volatility for Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) (FREM.L) is 4.29%, while Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) has a volatility of 9.10%. This indicates that FREM.L experiences smaller price fluctuations and is considered to be less risky than E127.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FREM.L | E127.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 9.10% | -4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 13.63% | 19.31% | -5.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 21.43% | -5.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 19.20% | -3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 19.02% | -2.08% |
FREM.L vs. E127.L - Expense Ratio Comparison
FREM.L has a 0.30% expense ratio, which is higher than E127.L's 0.14% expense ratio.
Dividends
FREM.L vs. E127.L - Dividend Comparison
FREM.L has not paid dividends to shareholders, while E127.L's dividend yield for the trailing twelve months is around 1.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 1.86% | 2.16% | 3.35% | 3.76% | 2.34% | 1.64% | 1.70% |
FREM.L Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FREM.L and E127.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, E127.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E127.L is cheaper with a 0.14% expense ratio, compared with 0.30% for FREM.L.
FREM.L tracks LibertyQ Emerging Markets Index-NR, while E127.L tracks MSCI EM NR USD. They also come from different issuers: Franklin and Amundi. Their fees differ too: 0.30% for FREM.L and 0.14% for E127.L.
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