USPA.L vs. FLXX.L

Last updated Jul 17, 2026

USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) and FLXX.L (Franklin Global Quality Dividend UCITS ETF USD (Dist)) are both exchange-traded funds - USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index, while FLXX.L is a Dividend fund tracking the LibertyQ Global Dividend Index - Net Return. Both are passively managed. Over the past 5 years, USPA.L returned 12.24%/yr vs 9.54%/yr for FLXX.L. A 0.65 correlation means they provide meaningful diversification when combined. USPA.L charges 0.07%/yr vs 0.30%/yr for FLXX.L.

Performance

USPA.L vs. FLXX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) and Franklin Global Quality Dividend UCITS ETF USD (Dist) (FLXX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USPA.L is traded in USD, while FLXX.L is traded in GBP. To make them comparable, the FLXX.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USPA.L achieves a 7.42% return, which is significantly lower than FLXX.L's 11.89% return.

USPA.L

• 1D: 0.05%
• 1M: 0.06%
• 6M: 7.17%
• YTD: 7.42%
• 1Y: 18.97%
• 3Y*: 19.16%
• 5Y*: 12.24%
• 10Y*: —

FLXX.L

• 1D: -3.22%
• 1M: 0.13%
• 6M: 8.48%
• YTD: 11.89%
• 1Y: 19.87%
• 3Y*: 15.94%
• 5Y*: 9.54%
• 10Y*: —

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

USPA.L vs. FLXX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)	7.42%	15.76%	26.74%	30.46%	-22.10%	32.21%	16.58%
FLXX.L Franklin Global Quality Dividend UCITS ETF USD (Dist)	11.89%	14.57%	15.19%	9.94%	-9.40%	19.82%	16.13%

Correlation

The correlation between USPA.L and FLXX.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020	0.65

The correlation between USPA.L and FLXX.L shifts across timeframes, from 0.51 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USPA.L vs. FLXX.L — Risk / Return Rank

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

USPA.L

USPA.L Risk / Return Rank: 53
USPA.L Sharpe Ratio Rank: 56
USPA.L Sortino Ratio Rank: 62
USPA.L Omega Ratio Rank: 56
USPA.L Calmar Ratio Rank: 42
USPA.L Martin Ratio Rank: 50

FLXX.L

FLXX.L Risk / Return Rank: 81
FLXX.L Sharpe Ratio Rank: 83
FLXX.L Sortino Ratio Rank: 78
FLXX.L Omega Ratio Rank: 83
FLXX.L Calmar Ratio Rank: 80
FLXX.L Martin Ratio Rank: 82

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.

USPA.L vs. FLXX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) and Franklin Global Quality Dividend UCITS ETF USD (Dist) (FLXX.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.

	USPA.L	FLXX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.87	-0.33
Sortino ratio: Return per unit of downside risk	2.34	2.65	-0.31
Omega ratio: Gain probability vs. loss probability	1.28	1.34	-0.06
Calmar ratio: Return relative to maximum drawdown	1.79	2.96	-1.17
Martin ratio: Return relative to average drawdown	6.76	10.37	-3.62

USPA.L vs. FLXX.L - Sharpe Ratio Comparison

The current USPA.L Sharpe Ratio is 1.54, which is comparable to the FLXX.L Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of USPA.L and FLXX.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.

Drawdowns

USPA.L vs. FLXX.L - Drawdown Comparison

The maximum USPA.L drawdown since its inception was -27.78%, smaller than the maximum FLXX.L drawdown of -34.61%. Use the drawdown chart below to compare losses from any high point for USPA.L and FLXX.L.

Drawdown Indicators

	USPA.L	FLXX.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.78%	-34.61%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-6.69%	-3.89%
Max Drawdown (3Y) Largest decline over 3 years	-18.86%	-12.36%	-6.50%
Max Drawdown (5Y) Largest decline over 5 years	-27.78%	-23.01%	-4.77%
Current Drawdown Current decline from peak	-0.93%	-3.22%	+2.29%
Average Drawdown Average peak-to-trough decline	-5.97%	-5.22%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.91%	+0.89%

Volatility

USPA.L vs. FLXX.L - Volatility Comparison

The current volatility for Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) is 3.40%, while Franklin Global Quality Dividend UCITS ETF USD (Dist) (FLXX.L) has a volatility of 5.03%. This indicates that USPA.L experiences smaller price fluctuations and is considered to be less risky than FLXX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USPA.L	FLXX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	5.03%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	8.72%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.28%	10.59%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	13.16%	+3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	14.65%	+1.83%

USPA.L vs. FLXX.L - Expense Ratio Comparison

USPA.L has a 0.07% expense ratio, which is lower than FLXX.L's 0.30% expense ratio.

Dividends

USPA.L vs. FLXX.L - Dividend Comparison

USPA.L has not paid dividends to shareholders, while FLXX.L's dividend yield for the trailing twelve months is around 2.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLXX.L Franklin Global Quality Dividend UCITS ETF USD (Dist)	2.51%	2.70%	2.40%	2.79%	2.97%	2.30%	2.58%	3.30%	3.23%	0.45%
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USPA.L and FLXX.L in my portfolio?

USPA.L and FLXX.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USPA.L or FLXX.L?

On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USPA.L or FLXX.L?

USPA.L is cheaper with a 0.07% expense ratio, compared with 0.30% for FLXX.L.

What is the main difference between USPA.L and FLXX.L?

USPA.L is categorized as S&P 500, while FLXX.L is Dividend. USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index, while FLXX.L tracks LibertyQ Global Dividend Index - Net Return. Their fees differ too: 0.07% for USPA.L and 0.30% for FLXX.L.