FRXT.L vs. EMAS.L
FRXT.L (Franklin FTSE Taiwan UCITS ETF) and EMAS.L (SPDR MSCI EM Asia UCITS ETF) are both Asia Pacific Equities funds - FRXT.L tracks the MSCI Taiwan NR USD while EMAS.L tracks the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 3 years, FRXT.L returned 43.32%/yr vs 35.88%/yr for EMAS.L. A 0.71 correlation means they provide meaningful diversification when combined. FRXT.L charges 0.19%/yr vs 0.55%/yr for EMAS.L.
Performance
FRXT.L vs. EMAS.L - Performance Comparison
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Returns By Period
In the year-to-date period, FRXT.L achieves a 71.15% return, which is significantly lower than EMAS.L's 81.22% return.
FRXT.L
- 1D
- 0.00%
- 1M
- 11.24%
- YTD
- 71.15%
- 6M
- 75.12%
- 1Y
- 114.12%
- 3Y*
- 43.32%
- 5Y*
- —
- 10Y*
- —
EMAS.L
- 1D
- 38.71%
- 1M
- 44.55%
- YTD
- 81.22%
- 6M
- 83.42%
- 1Y
- 109.79%
- 3Y*
- 35.88%
- 5Y*
- 15.70%
- 10Y*
- 15.67%
FRXT.L vs. EMAS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FRXT.L Franklin FTSE Taiwan UCITS ETF | 71.15% | 25.34% | 25.66% | 22.61% | -36.11% |
EMAS.L SPDR MSCI EM Asia UCITS ETF | 81.22% | 22.99% | 12.86% | 0.62% | -6.38% |
Correlation
The correlation between FRXT.L and EMAS.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2022 | 0.71 |
The correlation between FRXT.L and EMAS.L has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
FRXT.L vs. EMAS.L — Risk / Return Rank
FRXT.L
EMAS.L
FRXT.L vs. EMAS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Taiwan UCITS ETF (FRXT.L) and SPDR MSCI EM Asia UCITS ETF (EMAS.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.
| FRXT.L | EMAS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 2.09 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 12.62 | 10.86 | +1.77 |
| Martin ratioReturn relative to average drawdown | 35.01 | 35.46 | -0.46 |
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Drawdowns
FRXT.L vs. EMAS.L - Drawdown Comparison
The maximum FRXT.L drawdown since its inception was -42.57%, smaller than the maximum EMAS.L drawdown of -53.67%. Use the drawdown chart below to compare losses from any high point for FRXT.L and EMAS.L.
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Drawdown Indicators
| FRXT.L | EMAS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.57% | -53.67% | +11.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -11.14% | +2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -28.86% | -25.14% | -3.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.79% | — |
Current DrawdownCurrent decline from peak | -5.13% | 0.00% | -5.13% |
Average DrawdownAverage peak-to-trough decline | -16.55% | -22.16% | +5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.42% | -0.15% |
Volatility
FRXT.L vs. EMAS.L - Volatility Comparison
The current volatility for Franklin FTSE Taiwan UCITS ETF (FRXT.L) is 10.91%, while SPDR MSCI EM Asia UCITS ETF (EMAS.L) has a volatility of 33.13%. This indicates that FRXT.L experiences smaller price fluctuations and is considered to be less risky than EMAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRXT.L | EMAS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.91% | 33.13% | -22.22% |
Volatility (6M)Calculated over the trailing 6-month period | 20.06% | 35.89% | -15.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.17% | 42.41% | -18.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.81% | 28.52% | -4.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.81% | 24.30% | -0.49% |
FRXT.L vs. EMAS.L - Expense Ratio Comparison
FRXT.L has a 0.19% expense ratio, which is lower than EMAS.L's 0.55% expense ratio.
Dividends
FRXT.L vs. EMAS.L - Dividend Comparison
Neither FRXT.L nor EMAS.L has paid dividends to shareholders.
Frequently Asked Questions
FRXT.L and EMAS.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FRXT.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRXT.L is cheaper with a 0.19% expense ratio, compared with 0.55% for EMAS.L.
FRXT.L tracks MSCI Taiwan NR USD, while EMAS.L tracks MSCI AC Asia Ex Japan NR USD. They also come from different issuers: Franklin Templeton and State Street. Their fees differ too: 0.19% for FRXT.L and 0.55% for EMAS.L.
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