FRUC.L vs. FRCH.L

Last updated Jun 5, 2026

FRUC.L (Franklin USD Investment Grade Corporate Bond UCITS ETF) and FRCH.L (Franklin FTSE China UCITS ETF) are both exchange-traded funds - FRUC.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while FRCH.L is a China Equities fund tracking the MSCI China NR USD. Both are passively managed. Over the past 5 years, FRUC.L returned 1.25%/yr vs -3.83%/yr for FRCH.L. At a 0.03 correlation, their price movements are largely independent. FRUC.L charges 0.35%/yr vs 0.19%/yr for FRCH.L.

Performance

FRUC.L vs. FRCH.L - Performance Comparison

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

Returns By Period

In the year-to-date period, FRUC.L achieves a 0.15% return, which is significantly higher than FRCH.L's -6.14% return.

FRUC.L

• 1D: 0.17%
• 1M: 1.25%
• YTD: 0.15%
• 6M: -0.08%
• 1Y: 6.57%
• 3Y*: 2.25%
• 5Y*: 1.25%
• 10Y*: —

FRCH.L

• 1D: -0.31%
• 1M: -3.45%
• YTD: -6.14%
• 6M: -8.95%
• 1Y: 7.20%
• 3Y*: 8.07%
• 5Y*: -3.83%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF	0.15%	0.24%	3.75%	1.75%	-5.43%	-1.01%	6.06%	2.82%
FRCH.L Franklin FTSE China UCITS ETF	-6.14%	23.22%	21.12%	-17.46%	-13.83%	-19.34%	26.80%	-10.87%

Correlation

The correlation between FRUC.L and FRCH.L is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019	0.03

The correlation between FRUC.L and FRCH.L shifts across timeframes, from -0.03 (3 years) to 0.10 (1 year), reflecting how their relationship changes across market environments.

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

Sectors	FRUC.L	FRCH.L
Healthcare	3.2%	5.5%
Communication Services	1.3%	16.4%
Technology	1.2%	11.3%
Financial Services	0.7%	18.3%
Energy	0.5%	3.5%
Basic Materials	-	5.6%
Consumer Cyclical	-	24.5%
Consumer Defensive	-	3.3%
Industrials	-	7.9%
Real Estate	-	1.7%
Utilities	-	2.0%

Return for Risk

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

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

FRUC.L

FRUC.L Risk / Return Rank: 27
FRUC.L Sharpe Ratio Rank: 28
FRUC.L Sortino Ratio Rank: 29
FRUC.L Omega Ratio Rank: 27
FRUC.L Calmar Ratio Rank: 28
FRUC.L Martin Ratio Rank: 25

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for Franklin USD Investment Grade Corporate Bond UCITS ETF (FRUC.L) and Franklin FTSE China UCITS ETF (FRCH.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.

	FRUC.L	FRCH.L	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.43	+0.58
Sortino ratio: Return per unit of downside risk	1.54	0.71	+0.82
Omega ratio: Gain probability vs. loss probability	1.18	1.08	+0.09
Calmar ratio: Return relative to maximum drawdown	1.34	0.48	+0.86
Martin ratio: Return relative to average drawdown	3.21	1.00	+2.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FRUC.L Sharpe Ratio is 1.01, which is higher than the FRCH.L Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of FRUC.L and FRCH.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

	FRUC.L	FRCH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.43	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	-0.12	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	-0.04	+0.29

Drawdowns

FRUC.L vs. FRCH.L - Drawdown Comparison

The maximum FRUC.L drawdown since its inception was -17.34%, smaller than the maximum FRCH.L drawdown of -56.27%. Use the drawdown chart below to compare losses from any high point for FRUC.L and FRCH.L.

Drawdown Indicators

	FRUC.L	FRCH.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.34%	-56.27%	+38.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.65%	-15.77%	+11.12%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-29.42%	+20.66%
Max Drawdown (5Y) Largest decline over 5 years	-13.26%	-49.18%	+35.92%
Current Drawdown Current decline from peak	-7.39%	-31.36%	+23.97%
Average Drawdown Average peak-to-trough decline	-8.18%	-29.72%	+21.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	7.53%	-5.58%

Volatility

FRUC.L vs. FRCH.L - Volatility Comparison

The current volatility for Franklin USD Investment Grade Corporate Bond UCITS ETF (FRUC.L) is 1.66%, while Franklin FTSE China UCITS ETF (FRCH.L) has a volatility of 6.61%. This indicates that FRUC.L experiences smaller price fluctuations and is considered to be less risky than FRCH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRUC.L	FRCH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	6.61%	-4.95%
Volatility (6M) Calculated over the trailing 6-month period	4.57%	12.34%	-7.77%
Volatility (1Y) Calculated over the trailing 1-year period	6.20%	17.57%	-11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	32.60%	-24.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.61%	31.15%	-21.54%

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

FRUC.L has a 0.35% expense ratio, which is higher than FRCH.L's 0.19% expense ratio.

Dividends

FRUC.L vs. FRCH.L - Dividend Comparison

FRUC.L's dividend yield for the trailing twelve months is around 4.01%, while FRCH.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
FRUC.L Franklin USD Investment Grade Corporate Bond UCITS ETF	4.01%	4.02%	4.19%	3.44%	2.71%	2.13%	2.42%	3.45%	1.64%

Frequently Asked Questions

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

FRUC.L and FRCH.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRUC.L or FRCH.L?

On fees, FRCH.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRUC.L or FRCH.L?

FRCH.L is cheaper with a 0.19% expense ratio, compared with 0.35% for FRUC.L.

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

FRUC.L is categorized as Corporate Bonds, while FRCH.L is China Equities. FRUC.L tracks Bloomberg US Corp Bond TR USD, while FRCH.L tracks MSCI China NR USD. Their fees differ too: 0.35% for FRUC.L and 0.19% for FRCH.L.