XKS2.L vs. FLXK.L
XKS2.L (Xtrackers MSCI Korea UCITS ETF 1C) and FLXK.L (Franklin FTSE Korea UCITS ETF USD (Acc)) are both South Korea Equities funds - XKS2.L tracks the MSCI Korea NR USD while FLXK.L tracks the FTSE Korea 30/18 Capped Index (Net Return). Both are passively managed. Over the past 5 years, XKS2.L returned 14.77%/yr vs 15.73%/yr for FLXK.L. With a 0.96 correlation, they move nearly in lockstep. XKS2.L charges 0.65%/yr vs 0.09%/yr for FLXK.L.
Performance
XKS2.L vs. FLXK.L - Performance Comparison
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Different Trading Currencies
XKS2.L is traded in GBp, while FLXK.L is traded in USD. To make them comparable, the FLXK.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XKS2.L achieves a 66.70% return, which is significantly lower than FLXK.L's 72.16% return.
XKS2.L
- 1D
- -1.51%
- 1M
- -23.12%
- 6M
- 44.70%
- YTD
- 66.70%
- 1Y
- 133.74%
- 3Y*
- 35.54%
- 5Y*
- 14.77%
- 10Y*
- 13.84%
FLXK.L
- 1D
- -1.88%
- 1M
- -23.34%
- 6M
- 49.24%
- YTD
- 72.16%
- 1Y
- 136.47%
- 3Y*
- 37.03%
- 5Y*
- 15.73%
- 10Y*
- —
XKS2.L vs. FLXK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C | 66.70% | 85.79% | -21.66% | 13.44% | -19.57% | -7.21% | 38.65% | 9.43% |
FLXK.L Franklin FTSE Korea UCITS ETF USD (Acc) | 72.16% | 80.91% | -20.26% | 14.73% | -19.45% | -5.96% | 42.98% | 8.49% |
Correlation
The correlation between XKS2.L and FLXK.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.96 |
The correlation between XKS2.L and FLXK.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
XKS2.L vs. FLXK.L — Risk / Return Rank
XKS2.L
FLXK.L
XKS2.L vs. FLXK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (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.
| XKS2.L | FLXK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.46 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.00 | 5.03 | -0.02 |
| Martin ratioReturn relative to average drawdown | 16.81 | 17.21 | -0.40 |
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Drawdowns
XKS2.L vs. FLXK.L - Drawdown Comparison
The maximum XKS2.L drawdown since its inception was -76.54%, which is greater than FLXK.L's maximum drawdown of -41.70%. Use the drawdown chart below to compare losses from any high point for XKS2.L and FLXK.L.
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Drawdown Indicators
| XKS2.L | FLXK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.54% | -41.70% | -34.84% |
Max Drawdown (1Y)Largest decline over 1 year | -26.58% | -26.99% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -37.56% | -28.10% | -9.46% |
Max Drawdown (5Y)Largest decline over 5 years | -39.18% | -37.31% | -1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -44.01% | — | — |
Current DrawdownCurrent decline from peak | -26.58% | -26.99% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -29.28% | -17.72% | -11.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.92% | 7.90% | +0.02% |
Volatility
XKS2.L vs. FLXK.L - Volatility Comparison
Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) and Franklin FTSE Korea UCITS ETF USD (Acc) (FLXK.L) have volatilities of 18.87% and 18.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XKS2.L | FLXK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.87% | 18.55% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 40.42% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.52% | 43.95% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.59% | 27.96% | +2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.19% | 28.13% | -0.94% |
XKS2.L vs. FLXK.L - Expense Ratio Comparison
XKS2.L has a 0.65% expense ratio, which is higher than FLXK.L's 0.09% expense ratio.
Dividends
XKS2.L vs. FLXK.L - Dividend Comparison
Neither XKS2.L nor FLXK.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, XKS2.L and FLXK.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, FLXK.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXK.L is cheaper with a 0.09% expense ratio, compared with 0.65% for XKS2.L.
XKS2.L tracks MSCI Korea NR USD, while FLXK.L tracks FTSE Korea 30/18 Capped Index (Net Return). They also come from different issuers: Xtrackers and Franklin. Their fees differ too: 0.65% for XKS2.L and 0.09% for FLXK.L.
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