XLG vs. FLCH

Last updated Jul 26, 2026

XLG (Invesco S&P 500 Top 50 ETF) and FLCH (Franklin FTSE China ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while FLCH is a China Equities fund tracking the FTSE China RIC Capped Index. Both are passively managed. Over the past 5 years, XLG returned 13.16%/yr vs -3.87%/yr for FLCH. Their 0.49 correlation means their historical movements had little consistent relationship. XLG charges 0.20%/yr vs 0.19%/yr for FLCH.

Performance

XLG vs. FLCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and Franklin FTSE China ETF (FLCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLG achieves a 1.55% return, which is significantly higher than FLCH's -10.17% return.

XLG

• 1D: -0.22%
• 1M: 0.71%
• 6M: 2.67%
• YTD: 1.55%
• 1Y: 12.21%
• 3Y*: 19.71%
• 5Y*: 13.16%
• 10Y*: 16.25%
• ALL TIME*: 11.26%

FLCH

• 1D: -0.33%
• 1M: 4.49%
• 6M: -13.97%
• YTD: -10.17%
• 1Y: -6.50%
• 3Y*: 7.74%
• 5Y*: -3.87%
• 10Y*: —
• ALL TIME*: 0.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCH Franklin FTSE China ETF	$3.91M	$4.48M	$3.36M
XLG Invesco S&P 500 Top 50 ETF	$60.47M	$91.92M	$104.94M

XLG vs. FLCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLG Invesco S&P 500 Top 50 ETF	1.55%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-3.59%	3.81%
FLCH Franklin FTSE China ETF	-10.17%	32.55%	18.00%	-11.21%	-22.74%	-20.87%	30.09%	24.32%	-19.52%	1.51%

Correlation

The correlation between XLG and FLCH is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.36
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.49

The correlation between XLG and FLCH shifts across timeframes, from 0.36 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

XLG vs. FLCH - Sectors Allocation Comparison

Sectors	XLG	FLCH
Technology	49.5%	10.5%
Communication Services	13.5%	16.2%
Consumer Cyclical	10.0%	23.2%
Financial Services	9.7%	19.0%
Healthcare	6.6%	6.1%
Consumer Defensive	5.0%	3.2%
Industrials	2.9%	8.2%
Energy	2.2%	3.4%
Utilities	0.8%	2.0%
Basic Materials	0.6%	5.6%
Real Estate	-	1.6%

Return for Risk

XLG vs. FLCH — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 34
XLG Sharpe Ratio Rank: 36
XLG Sortino Ratio Rank: 34
XLG Omega Ratio Rank: 34
XLG Calmar Ratio Rank: 31
XLG Martin Ratio Rank: 34

FLCH

FLCH Risk / Return Rank: 8
FLCH Sharpe Ratio Rank: 7
FLCH Sortino Ratio Rank: 7
FLCH Omega Ratio Rank: 7
FLCH Calmar Ratio Rank: 8
FLCH Martin Ratio Rank: 8

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.

XLG vs. FLCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Franklin FTSE China ETF (FLCH). 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.

	XLG	FLCH	Difference
Sharpe ratio: Return per unit of total volatility	0.88	-0.34	+1.22
Sortino ratio: Return per unit of downside risk	1.28	-0.36	+1.64
Omega ratio: Gain probability vs. loss probability	1.16	0.96	+0.20
Calmar ratio: Return relative to maximum drawdown	1.02	-0.32	+1.34
Martin ratio: Return relative to average drawdown	3.29	-0.68	+3.97

XLG vs. FLCH - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 0.88, which is higher than the FLCH Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of XLG and FLCH, 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

XLG vs. FLCH - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, smaller than the maximum FLCH drawdown of -62.09%. Use the drawdown chart below to compare losses from any high point for XLG and FLCH.

Drawdown Indicators

	XLG	FLCH	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-62.09%	+9.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-21.48%	+9.07%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-25.43%	+4.73%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-50.38%	+22.36%
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	—	—
Current Drawdown Current decline from peak	-6.96%	-36.68%	+29.72%
Average Drawdown Average peak-to-trough decline	-7.62%	-30.62%	+23.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	10.01%	-6.17%

Volatility

XLG vs. FLCH - Volatility Comparison

The current volatility for Invesco S&P 500 Top 50 ETF (XLG) is 4.47%, while Franklin FTSE China ETF (FLCH) has a volatility of 5.99%. This indicates that XLG experiences smaller price fluctuations and is considered to be less risky than FLCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLG	FLCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	5.99%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	13.93%	-2.83%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	19.83%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	29.58%	-10.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	27.80%	-8.91%

XLG vs. FLCH - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is higher than FLCH's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLG vs. FLCH - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.66%, less than FLCH's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLCH Franklin FTSE China ETF	2.41%	2.36%	2.87%	3.47%	2.69%	1.48%	0.91%	1.98%	1.92%	0.01%	0.00%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.66%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both XLG and FLCH in my portfolio?

XLG and FLCH have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLG or FLCH?

FLCH has higher volatility (5.99%) compared to XLG (4.47%). In terms of maximum drawdown, XLG dropped -52.39% vs FLCH's -62.09%.

Which ETF is better, XLG or FLCH?

On 5-year performance, XLG leads with 13.16% vs -3.87% for FLCH. On fees, FLCH is cheaper at 0.19% per year. On volatility, XLG has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or FLCH?

Over the 5-year period, XLG has performed better with a 13.16% return vs -3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or FLCH?

FLCH is cheaper with a 0.19% expense ratio, compared with 0.20% for XLG.

Which ETF pays a higher dividend yield, XLG or FLCH?

FLCH has the higher dividend yield at 2.41%, compared with 0.66% for XLG.

What is the main difference between XLG and FLCH?

XLG is categorized as S&P 500, while FLCH is China Equities. XLG tracks S&P 500 Top 50 Index, while FLCH tracks FTSE China RIC Capped Index. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.20% for XLG and 0.19% for FLCH.

Which has better risk-adjusted returns?

XLG currently has the higher Sharpe Ratio (0.88 vs -0.34), 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.