XCHA.L vs. FLQA.L
XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) and FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF) are both China Equities funds - XCHA.L tracks the MSCI China A Onshore NR CNY while FLQA.L tracks the Franklin FTSE Asia ex China ex Japan UCITS ETF. Both are passively managed. Over the past 5 years, XCHA.L returned 2.69%/yr vs 12.63%/yr for FLQA.L. A 0.61 correlation means they provide meaningful diversification when combined. XCHA.L charges 0.50%/yr vs 0.14%/yr for FLQA.L.
Performance
XCHA.L vs. FLQA.L - Performance Comparison
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Returns By Period
In the year-to-date period, XCHA.L achieves a 9.79% return, which is significantly lower than FLQA.L's 32.52% return.
XCHA.L
- 1D
- -0.23%
- 1M
- -1.60%
- 6M
- 7.00%
- YTD
- 9.79%
- 1Y
- 33.96%
- 3Y*
- 14.18%
- 5Y*
- 2.69%
- 10Y*
- 8.65%
FLQA.L
- 1D
- -1.74%
- 1M
- -9.13%
- 6M
- 26.58%
- YTD
- 32.52%
- 1Y
- 52.26%
- 3Y*
- 25.15%
- 5Y*
- 12.63%
- 10Y*
- —
XCHA.L vs. FLQA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C | 9.79% | 30.11% | 16.00% | -11.00% | -24.25% | 3.24% | 45.85% | 40.57% | -10.94% |
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF | 32.52% | 29.84% | 7.76% | 12.02% | -12.93% | 4.57% | 6.71% | 9.75% | -5.84% |
Correlation
The correlation between XCHA.L and FLQA.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.61 |
The correlation between XCHA.L and FLQA.L shifts across timeframes, from 0.45 (3 years) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XCHA.L vs. FLQA.L — Risk / Return Rank
XCHA.L
FLQA.L
XCHA.L vs. FLQA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.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.
| XCHA.L | FLQA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | 3.75 | +1.06 |
| Martin ratioReturn relative to average drawdown | 13.29 | 11.86 | +1.43 |
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Drawdowns
XCHA.L vs. FLQA.L - Drawdown Comparison
The maximum XCHA.L drawdown since its inception was -50.90%, which is greater than FLQA.L's maximum drawdown of -29.21%. Use the drawdown chart below to compare losses from any high point for XCHA.L and FLQA.L.
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Drawdown Indicators
| XCHA.L | FLQA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.90% | -29.21% | -21.69% |
Max Drawdown (1Y)Largest decline over 1 year | -7.02% | -13.77% | +6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -26.85% | -22.19% | -4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -39.75% | -25.38% | -14.37% |
Max Drawdown (10Y)Largest decline over 10 years | -44.89% | — | — |
Current DrawdownCurrent decline from peak | -4.94% | -12.64% | +7.70% |
Average DrawdownAverage peak-to-trough decline | -24.00% | -7.22% | -16.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 4.36% | -1.81% |
Volatility
XCHA.L vs. FLQA.L - Volatility Comparison
The current volatility for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) is 8.65%, while Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.L) has a volatility of 11.18%. This indicates that XCHA.L experiences smaller price fluctuations and is considered to be less risky than FLQA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCHA.L | FLQA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.65% | 11.18% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 14.40% | 22.99% | -8.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 25.11% | -6.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.62% | 17.74% | +4.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.77% | 18.52% | +4.25% |
XCHA.L vs. FLQA.L - Expense Ratio Comparison
XCHA.L has a 0.50% expense ratio, which is higher than FLQA.L's 0.14% expense ratio.
Dividends
XCHA.L vs. FLQA.L - Dividend Comparison
Neither XCHA.L nor FLQA.L has paid dividends to shareholders.
Frequently Asked Questions
XCHA.L and FLQA.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLQA.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLQA.L is cheaper with a 0.14% expense ratio, compared with 0.50% for XCHA.L.
XCHA.L tracks MSCI China A Onshore NR CNY, while FLQA.L tracks Franklin FTSE Asia ex China ex Japan UCITS ETF. They also come from different issuers: Xtrackers and Franklin. Their fees differ too: 0.50% for XCHA.L and 0.14% for FLQA.L.
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