SPXS.L vs. FLXK.L
SPXS.L (Invesco S&P 500 UCITS ETF) and FLXK.L (Franklin FTSE Korea UCITS ETF) are both Global Equities funds - SPXS.L tracks the Invesco S&P 500 UCITS ETF while FLXK.L tracks the Franklin FTSE Korea UCITS ETF. Both are passively managed. Over the past 5 years, SPXS.L returned -54.94%/yr vs 15.67%/yr for FLXK.L. A 0.59 correlation means they provide meaningful diversification when combined. SPXS.L charges 0.05%/yr vs 0.09%/yr for FLXK.L.
Performance
SPXS.L vs. FLXK.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPXS.L achieves a 10.20% return, which is significantly lower than FLXK.L's 75.46% return.
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
FLXK.L
- 1D
- -1.68%
- 1M
- -19.56%
- 6M
- 57.13%
- YTD
- 75.46%
- 1Y
- 141.50%
- 3Y*
- 39.45%
- 5Y*
- 15.67%
- 10Y*
- —
SPXS.L vs. FLXK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 18.18% |
FLXK.L Franklin FTSE Korea UCITS ETF | 75.46% | 94.79% | -21.63% | 20.77% | -28.01% | -6.85% | 47.31% | 13.27% |
Correlation
The correlation between SPXS.L and FLXK.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.59 |
The correlation between SPXS.L and FLXK.L has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.
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Return for Risk
SPXS.L vs. FLXK.L — Risk / Return Rank
SPXS.L
FLXK.L
SPXS.L vs. FLXK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXS.L) and Franklin FTSE Korea UCITS ETF (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.
| SPXS.L | FLXK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.13 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.47 | -0.94 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 5.86 | -6.86 |
| Martin ratioReturn relative to average drawdown | -1.23 | 18.40 | -19.63 |
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Drawdowns
SPXS.L vs. FLXK.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than FLXK.L's maximum drawdown of -49.43%. Use the drawdown chart below to compare losses from any high point for SPXS.L and FLXK.L.
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Drawdown Indicators
| SPXS.L | FLXK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -49.43% | -49.64% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -24.10% | -74.97% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -28.54% | -70.53% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -47.00% | -52.07% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.90% | -24.10% | -74.80% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -20.23% | +12.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.57% | 7.70% | +72.87% |
Volatility
SPXS.L vs. FLXK.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXS.L) is 2.73%, while Franklin FTSE Korea UCITS ETF (FLXK.L) has a volatility of 19.75%. This indicates that SPXS.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.
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Volatility by Period
| SPXS.L | FLXK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 19.75% | -17.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 41.53% | -32.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 45.08% | +54.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.13% | 29.63% | +17.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.27% | 29.61% | +5.66% |
SPXS.L vs. FLXK.L - Expense Ratio Comparison
SPXS.L has a 0.05% expense ratio, which is lower than FLXK.L's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPXS.L vs. FLXK.L - Dividend Comparison
Neither SPXS.L nor FLXK.L has paid dividends to shareholders.
Frequently Asked Questions
SPXS.L and FLXK.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.09% for FLXK.L.
SPXS.L tracks Invesco S&P 500 UCITS ETF, while FLXK.L tracks Franklin FTSE Korea UCITS ETF. They also come from different issuers: Invesco and Franklin. Their fees differ too: 0.05% for SPXS.L and 0.09% for FLXK.L.
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