FLAX
Franklin FTSE Asia Ex Japan ETF
The Franklin FTSE Asia ex Japan ETF tracks a market-cap-weighted index of large- and midcap stocks from developed and emerging Asian countries, excluding Japan.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
27.7 M
ASSETS UNDER MGMT
19 bp
EXPENSES
Fund Basics
| Fund sponsor | Franklin Templeton Investments |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 06, 2018 |
| Assets (mns) | $28 |
| Expense ratio | 19 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 9.4 % |
| TENCENT HOLDINGS LTD | 4.0 % |
| SAMSUNG ELECTRONICS CO LTD | 3.9 % |
| RELIANCE INDS-SPONS GDR 144A | 2.6 % |
| ALIBABA GROUP HOLDING LTD. | 2.2 % |
| HDFC BANK LIMITED | 1.5 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.3 % |
| INFOSYS TECHNOLOGIES LTD | 1.1 % |
| HYNIX SEMICONDUCTOR INC | 1.0 % |
| AIA GROUP LTD | 1.0 % |
Constituent Breakdown
| Number of holdings | 1580 |
| Herfindahl-Hirschman Index | 153 |
| Wgt avg mkt cap (mns) | $150,495 |
| Large cap (>$10bn) | 79.2% |
| Mid cap ($2-10bn) | 19.2% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 14.4% |
| Emerging mkts. | 85.6% |
Country Exposure
 |
CHINA | 24.9 % |
 |
INDIA | 23.6 % |
 |
TAIWAN | 19.6 % |
 |
SOUTH KOREA | 12.4 % |
 |
HONG KONG | 6.1 % |
 |
SINGAPORE | 3.2 % |
 |
MALAYSIA | 1.9 % |
 |
INDONESIA | 1.8 % |
 |
THAILAND | 0.8 % |
 |
PHILIPPINES | 0.6 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.3% | 11.8% | 6.6% | -1.9% | 3.6% | -- | 1.5% | Volatility | 16.5% | 16.1% | 17.0% | 18.9% | 21.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.62 | 32% |
| MSCI EAFE | 0.82 | 54% |
| MSCI Emg Mkts | 1.11 | 97% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.21% |
| ADV of underlying (mns) | $83,507 |
Technical Indicators
| Recent close | $23.07 |
| 30d moving avg. | $23.52 |
| Annualized volatility | 19.5% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FLAX |
Expenses vs. FLAX |
ALTAR Score™ vs. FLAX |
|---|---|---|---|---|
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 79.3% | +51 bp | -0.7% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 74.6% | +30 bp | -0.3% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 72.1% | +47 bp | +3.2% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 71.6% | -8 bp | +1.5% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 71.4% | -4 bp | +0.4% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 70.6% | +17 bp | +1.0% |
| EEM | iShares MSCI Emerging Markets ETF | 68.3% | +50 bp | +0.1% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 67.3% | +11 bp | +0.6% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 64.5% | +30 bp | +1.4% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 63.0% | -10 bp | +0.7% |
Risk and Returns: FLAX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/18/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FLAX
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
FLAX
6.9%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.7%. FLAX's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places FLAX in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FLAXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| FLAX (19 bp) Percentile rank | 16 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FLAX | 19.0 | 20.7 | 39.7 |
| Peer Avg. | 42.6 | 27.0 | 69.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .