FRQX.L vs. UTIL.L

Last updated Jun 5, 2026

FRQX.L (Franklin AC Asia ex Japan UCITS ETF) and UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - FRQX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD, while UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD. Both are passively managed. Over the past 5 years, FRQX.L returned 14.74%/yr vs 11.99%/yr for UTIL.L. At a 0.27 correlation, their price movements are largely independent. FRQX.L charges 0.40%/yr vs 0.18%/yr for UTIL.L.

Performance

FRQX.L vs. UTIL.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 SPDR MSCI Europe Utilities UCITS ETF (UTIL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FRQX.L is traded in GBP, while UTIL.L is traded in EUR. To make them comparable, the UTIL.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 43.69% return, which is significantly higher than UTIL.L's 12.15% return.

FRQX.L

• 1D: -2.00%
• 1M: 10.47%
• YTD: 43.69%
• 6M: 48.15%
• 1Y: 78.41%
• 3Y*: 26.02%
• 5Y*: 14.74%
• 10Y*: —

UTIL.L

• 1D: -0.09%
• 1M: -2.86%
• YTD: 12.15%
• 6M: 12.96%
• 1Y: 30.18%
• 3Y*: 16.76%
• 5Y*: 11.99%
• 10Y*: 11.76%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FRQX.L Franklin AC Asia ex Japan UCITS ETF	43.69%	21.13%	9.39%	5.79%	-2.53%	5.94%	3.15%	6.30%	-4.69%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	12.15%	41.15%	-3.27%	10.84%	-1.95%	1.85%	18.14%	21.99%	3.65%

Correlation

The correlation between FRQX.L and UTIL.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018	0.27

The correlation between FRQX.L and UTIL.L shifts across timeframes, from 0.09 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

FRQX.L vs. UTIL.L - Sectors Allocation Comparison

Sectors	FRQX.L	UTIL.L
Technology	54.7%	-
Financial Services	15.6%	-
Industrials	8.9%	4.6%
Consumer Cyclical	4.6%	-
Basic Materials	3.2%	-
Communication Services	2.4%	-
Energy	2.3%	-
Healthcare	2.2%	-
Consumer Defensive	2.2%	-
Utilities	1.9%	95.4%
Real Estate	1.9%	-

Return for Risk

FRQX.L vs. UTIL.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: 94
FRQX.L Sharpe Ratio Rank: 96
FRQX.L Sortino Ratio Rank: 96
FRQX.L Omega Ratio Rank: 95
FRQX.L Calmar Ratio Rank: 92
FRQX.L Martin Ratio Rank: 93

UTIL.L

UTIL.L Risk / Return Rank: 57
UTIL.L Sharpe Ratio Rank: 53
UTIL.L Sortino Ratio Rank: 48
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 58

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. UTIL.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 SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

	FRQX.L	UTIL.L	Difference
Sharpe ratio: Return per unit of total volatility	4.05	1.99	+2.06
Sortino ratio: Return per unit of downside risk	5.31	2.59	+2.73
Omega ratio: Gain probability vs. loss probability	1.71	1.35	+0.37
Calmar ratio: Return relative to maximum drawdown	5.97	3.50	+2.46
Martin ratio: Return relative to average drawdown	23.58	10.34	+13.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FRQX.L Sharpe Ratio is 4.05, which is higher than the UTIL.L Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FRQX.L and UTIL.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

	FRQX.L	UTIL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.05	1.99	+2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.73	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.55	+0.10

Drawdowns

FRQX.L vs. UTIL.L - Drawdown Comparison

The maximum FRQX.L drawdown since its inception was -20.77%, smaller than the maximum UTIL.L drawdown of -28.73%. Use the drawdown chart below to compare losses from any high point for FRQX.L and UTIL.L.

Drawdown Indicators

	FRQX.L	UTIL.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.77%	-28.73%	+7.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-8.58%	-4.49%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	-12.60%	-6.82%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-19.90%	+0.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.73%	—
Current Drawdown Current decline from peak	-2.56%	-5.73%	+3.17%
Average Drawdown Average peak-to-trough decline	-3.94%	-5.71%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.91%	+0.40%

Volatility

FRQX.L vs. UTIL.L - Volatility Comparison

Franklin AC Asia ex Japan UCITS ETF (FRQX.L) has a higher volatility of 7.40% compared to SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) at 5.55%. This indicates that FRQX.L's price experiences larger fluctuations and is considered to be riskier than UTIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRQX.L	UTIL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	5.55%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	16.78%	12.97%	+3.81%
Volatility (1Y) Calculated over the trailing 1-year period	19.27%	15.09%	+4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	16.35%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.44%	17.82%	-1.38%

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

FRQX.L has a 0.40% expense ratio, which is higher than UTIL.L's 0.18% expense ratio.

Dividends

FRQX.L vs. UTIL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

FRQX.L and UTIL.L have a correlation of 0.09, 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 UTIL.L?

On fees, UTIL.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

UTIL.L is cheaper with a 0.18% expense ratio, compared with 0.40% for FRQX.L.

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

FRQX.L is categorized as Asia Pacific Equities, while UTIL.L is Utilities Equities. FRQX.L tracks MSCI AC Asia Ex Japan NR USD, while UTIL.L tracks MSCI World/Utilities NR USD. They also come from different issuers: Franklin Templeton and State Street. Their fees differ too: 0.40% for FRQX.L and 0.18% for UTIL.L.