FRQX.L vs. FLXK.L

Last updated Jul 18, 2026

FRQX.L (Franklin AC Asia ex Japan UCITS ETF) and FLXK.L (Franklin FTSE Korea UCITS ETF USD (Acc)) are both exchange-traded funds - FRQX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD, while FLXK.L is a South Korea Equities fund tracking the FTSE Korea 30/18 Capped Index (Net Return). Both are passively managed. Over the past 5 years, FRQX.L returned 12.76%/yr vs 15.73%/yr for FLXK.L. A 0.72 correlation means they provide meaningful diversification when combined. FRQX.L charges 0.40%/yr vs 0.09%/yr for FLXK.L.

Performance

FRQX.L vs. FLXK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin AC Asia ex Japan UCITS ETF (FRQX.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FRQX.L achieves a 30.16% return, which is significantly lower than FLXK.L's 72.16% return.

FRQX.L

• 1D: -1.71%
• 1M: -11.87%
• 6M: 22.09%
• YTD: 30.16%
• 1Y: 47.75%
• 3Y*: 23.21%
• 5Y*: 12.76%
• 10Y*: —

FLXK.L

• 1D: -1.88%
• 1M: -23.34%
• 6M: 49.24%
• YTD: 72.16%
• 1Y: 136.47%
• 3Y*: 37.03%
• 5Y*: 15.73%
• 10Y*: —

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

FRQX.L vs. FLXK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRQX.L Franklin AC Asia ex Japan UCITS ETF	30.16%	21.14%	9.38%	5.79%	-2.53%	5.94%	3.15%	1.70%
FLXK.L Franklin FTSE Korea UCITS ETF USD (Acc)	72.16%	80.91%	-20.26%	14.73%	-19.45%	-5.96%	42.98%	8.49%

Correlation

The correlation between FRQX.L and FLXK.L is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.72

The correlation between FRQX.L and FLXK.L shifts across timeframes, from 0.70 (5 years) to 0.88 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FRQX.L vs. FLXK.L — Risk / Return Rank

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

FRQX.L

FRQX.L Risk / Return Rank: 80
FRQX.L Sharpe Ratio Rank: 84
FRQX.L Sortino Ratio Rank: 77
FRQX.L Omega Ratio Rank: 84
FRQX.L Calmar Ratio Rank: 78
FRQX.L Martin Ratio Rank: 79

FLXK.L

FLXK.L Risk / Return Rank: 92
FLXK.L Sharpe Ratio Rank: 96
FLXK.L Sortino Ratio Rank: 89
FLXK.L Omega Ratio Rank: 91
FLXK.L Calmar Ratio Rank: 94
FLXK.L Martin Ratio Rank: 93

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.

FRQX.L vs. FLXK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin AC Asia ex Japan UCITS ETF (FRQX.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.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.

	FRQX.L	FLXK.L	Difference
Sharpe ratio: Return per unit of total volatility	2.07	3.09	-1.02
Sortino ratio: Return per unit of downside risk	2.65	3.26	-0.61
Omega ratio: Gain probability vs. loss probability	1.38	1.46	-0.08
Calmar ratio: Return relative to maximum drawdown	3.04	5.03	-1.99
Martin ratio: Return relative to average drawdown	11.08	17.21	-6.14

FRQX.L vs. FLXK.L - Sharpe Ratio Comparison

The current FRQX.L Sharpe Ratio is 2.07, which is lower than the FLXK.L Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of FRQX.L and FLXK.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.

Drawdowns

FRQX.L vs. FLXK.L - Drawdown Comparison

The maximum FRQX.L drawdown since its inception was -35.92%, smaller than the maximum FLXK.L drawdown of -41.70%. Use the drawdown chart below to compare losses from any high point for FRQX.L and FLXK.L.

Drawdown Indicators

	FRQX.L	FLXK.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-41.70%	+5.78%
Max Drawdown (1Y) Largest decline over 1 year	-15.65%	-26.99%	+11.34%
Max Drawdown (3Y) Largest decline over 3 years	-23.00%	-28.10%	+5.10%
Max Drawdown (5Y) Largest decline over 5 years	-23.00%	-37.31%	+14.31%
Current Drawdown Current decline from peak	-15.65%	-26.99%	+11.34%
Average Drawdown Average peak-to-trough decline	-15.44%	-17.72%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	7.90%	-3.60%

Volatility

FRQX.L vs. FLXK.L - Volatility Comparison

The current volatility for Franklin AC Asia ex Japan UCITS ETF (FRQX.L) is 11.01%, while Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) has a volatility of 18.55%. This indicates that FRQX.L experiences smaller price fluctuations and is considered to be less risky than FLXK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRQX.L	FLXK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.01%	18.55%	-7.54%
Volatility (6M) Calculated over the trailing 6-month period	21.03%	40.42%	-19.39%
Volatility (1Y) Calculated over the trailing 1-year period	22.96%	43.95%	-20.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.98%	27.96%	-6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.50%	28.13%	-6.63%

FRQX.L vs. FLXK.L - Expense Ratio Comparison

FRQX.L has a 0.40% expense ratio, which is higher than FLXK.L's 0.09% expense ratio.

Dividends

FRQX.L vs. FLXK.L - Dividend Comparison

Neither FRQX.L nor FLXK.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FRQX.L and FLXK.L in my portfolio?

FRQX.L and FLXK.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRQX.L or FLXK.L?

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.

Which ETF is cheaper, FRQX.L or FLXK.L?

FLXK.L is cheaper with a 0.09% expense ratio, compared with 0.40% for FRQX.L.

What is the main difference between FRQX.L and FLXK.L?

FRQX.L is categorized as Asia Pacific Equities, while FLXK.L is South Korea Equities. FRQX.L tracks MSCI AC Asia Ex Japan NR USD, while FLXK.L tracks FTSE Korea 30/18 Capped Index (Net Return). They also come from different issuers: Franklin Templeton and Franklin. Their fees differ too: 0.40% for FRQX.L and 0.09% for FLXK.L.