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TRCLX vs. FLKR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRCLX vs. FLKR

Last updated Jun 23, 2026

TRCLX (T. Rowe Price China Evolution Equity Fund) and FLKR (Franklin FTSE South Korea ETF) are both funds - TRCLX is a China Equities fund managed by T. Rowe Price, while FLKR is a Asia Pacific Equities fund tracking the FTSE South Korea RIC Capped Index. Over the past 5 years, TRCLX returned 4.66%/yr vs 20.92%/yr for FLKR. At a 0.49 correlation, their price movements are largely independent. TRCLX charges 1.04%/yr vs 0.09%/yr for FLKR.

Performance

TRCLX vs. FLKR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price China Evolution Equity Fund (TRCLX) and Franklin FTSE South Korea ETF (FLKR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TRCLX achieves a 38.45% return, which is significantly lower than FLKR's 125.43% return.

TRCLX

1D
1.40%
1M
6.99%
YTD
38.45%
6M
38.94%
1Y
75.78%
3Y*
22.29%
5Y*
4.66%
10Y*
—

FLKR

1D
0.78%
1M
22.92%
YTD
125.43%
6M
139.24%
1Y
222.34%
3Y*
55.23%
5Y*
20.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRCLX vs. FLKR - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TRCLX
T. Rowe Price China Evolution Equity Fund		38.45%36.23%10.95%-15.51%-26.24%6.28%59.73%6.20%
FLKR
Franklin FTSE South Korea ETF		125.43%91.91%-18.84%19.16%-27.50%-7.54%42.64%10.22%

Correlation

The correlation between TRCLX and FLKR is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.40

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Dec 10, 2019

0.49

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price China Evolution Equity Fund

Franklin FTSE South Korea ETF

Often compared with TRCLX:
TRCLX vs. OBCHXTRCLX vs. FIQFXTRCLX vs. EVCGXTRCLX vs. FCHKXTRCLX vs. CHILXTRCLX vs. FHKIXTRCLX vs. ACEYX
Often compared with FLKR:
FLKR vs. EWYFLKR vs. SCHDFLKR vs. FLJPFLKR vs. VOOFLKR vs. KORUFLKR vs. HFXIFLKR vs. FLXK.DE

Return for Risk

TRCLX vs. FLKR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRCLX
TRCLX Risk / Return Rank: 9696
Overall Rank
TRCLX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
TRCLX Sortino Ratio Rank: 9494
Sortino Ratio Rank
TRCLX Omega Ratio Rank: 9191
Omega Ratio Rank
TRCLX Calmar Ratio Rank: 9898
Calmar Ratio Rank
TRCLX Martin Ratio Rank: 9797
Martin Ratio Rank
FLKR
FLKR Risk / Return Rank: 9595
Overall Rank
FLKR Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
FLKR Sortino Ratio Rank: 9393
Sortino Ratio Rank
FLKR Omega Ratio Rank: 9494
Omega Ratio Rank
FLKR Calmar Ratio Rank: 9797
Calmar Ratio Rank
FLKR Martin Ratio Rank: 9696
Martin Ratio Rank
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.

TRCLX vs. FLKR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price China Evolution Equity Fund (TRCLX) and Franklin FTSE South Korea ETF (FLKR). 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.

TRCLXFLKRDifference
Sharpe ratioReturn per unit of total volatility
3.75
4.80

-1.05

Sortino ratioReturn per unit of downside risk
4.50
4.38

+0.13

Omega ratioGain probability vs. loss probability

1.63

1.64

-0.02

Calmar ratioReturn relative to maximum drawdown

7.04

9.72

-2.68

Martin ratioReturn relative to average drawdown

24.80

33.72

-8.92

TRCLX vs. FLKR - Sharpe Ratio Comparison

The current TRCLX Sharpe Ratio is 3.75, which is comparable to the FLKR Sharpe Ratio of 4.80. The chart below compares the historical Sharpe Ratios of TRCLX and FLKR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TRCLX vs. FLKR - Drawdown Comparison

The maximum TRCLX drawdown since its inception was -50.67%, roughly equal to the maximum FLKR drawdown of -50.06%. Use the drawdown chart below to compare losses from any high point for TRCLX and FLKR.

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Drawdown Indicators

TRCLXFLKRDifference

Max Drawdown

Largest peak-to-trough decline

-50.67%

-50.06%

-0.61%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-23.03%

+12.56%

Max Drawdown (3Y)

Largest decline over 3 years

-25.49%

-26.39%

+0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-49.44%

-49.51%

+0.07%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-22.60%

-21.99%

-0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.97%

6.63%

-3.66%

Volatility

TRCLX vs. FLKR - Volatility Comparison

The current volatility for T. Rowe Price China Evolution Equity Fund (TRCLX) is 9.43%, while Franklin FTSE South Korea ETF (FLKR) has a volatility of 26.54%. This indicates that TRCLX experiences smaller price fluctuations and is considered to be less risky than FLKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TRCLXFLKRDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.43%

26.54%

-17.11%

Volatility (6M)

Calculated over the trailing 6-month period

15.70%

42.94%

-27.24%

Volatility (1Y)

Calculated over the trailing 1-year period

19.67%

46.77%

-27.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.41%

29.97%

-6.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.54%

28.56%

-5.02%

TRCLX vs. FLKR - Expense Ratio Comparison

TRCLX has a 1.04% expense ratio, which is higher than FLKR's 0.09% expense ratio.

Dividends

TRCLX vs. FLKR - Dividend Comparison

TRCLX's dividend yield for the trailing twelve months is around 1.18%, less than FLKR's 1.62% yield.

PositionTTM202520242023202220212020201920182017
FLKR
Franklin FTSE South Korea ETF		1.62%3.87%7.08%2.28%3.13%2.12%0.99%2.09%1.86%1.02%
TRCLX
T. Rowe Price China Evolution Equity Fund		1.18%1.64%1.78%2.56%2.76%8.23%1.50%0.01%0.00%0.00%

Frequently Asked Questions

TRCLX and FLKR have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLKR has higher volatility (26.54%) compared to TRCLX (9.43%). In terms of maximum drawdown, TRCLX dropped -50.67% vs FLKR's -50.06%.

FLKR currently has the higher Sharpe Ratio (4.80 vs 3.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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