FLCH
Franklin FTSE China ETF
The Franklin FTSE China ETF tracks a market-cap-weighted index of large- and midcap companies in China.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
19 bp
EXPENSES
$106.5 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Franklin Templeton |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 02, 2017 |
| Assets (mns) | $106 |
| 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
| TENCENT HOLDINGS LTD | 14.2 % |
| ALIBABA GROUP HOLDING LTD. | 7.5 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 4.3 % |
| MEITUAN DIANPING | 3.7 % |
| CHINA CONSTRUCTION BANK-H | 3.1 % |
| IND & COMM BK OF CHINA - H | 2.1 % |
| BANK OF CHINA LTD - H | 1.9 % |
| JD.COM, INC. CLASS A | 1.6 % |
| NETEASE, INC | 1.6 % |
| XIAOMI CORP. CLASS B | 1.5 % |
Constituent Breakdown
| Number of holdings | 961 |
| Herfindahl-Hirschman Index | 334 |
| Wgt avg mkt cap (mns) | $126,411 |
| Large cap (>$10bn) | 78.6% |
| Mid cap ($2-10bn) | 19.6% |
| Small cap (<$2bn) | 1.8% |
| Developed mkts. | 17.7% |
| Emerging mkts. | 82.3% |
Country Exposure
 |
CHINA | 89.7 % |
 |
HONG KONG | 5.9 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 1.9% | -5.0% | -11.6% | -18.4% | -4.7% | -- | -4.6% | Volatility | 23.6% | 23.9% | 27.8% | 30.8% | 29.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.35 | 4% |
| MSCI EAFE | 0.81 | 20% |
| MSCI Emg Mkts | 1.43 | 65% |
Liquidity Measures
| Avg. volume (000) | 34 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $43,617 |
Technical Indicators
| Recent close | $16.13 |
| 30d moving avg. | $16.81 |
| Annualized volatility | 31.4% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 4.3% |
| 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. FLCH |
Expenses vs. FLCH |
ALTAR Score™ vs. FLCH |
|---|---|---|---|---|
| MCHI | iShares MSCI China ETF | 84.3% | +40 bp | -0.7% |
| GXC | SPDR S&P China ETF | 69.6% | +40 bp | -0.7% |
| KALL | KraneShares MSCI All China Index ETF | 58.0% | +30 bp | -0.1% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 53.7% | +13 bp | -3.0% |
| FXI | iShares China Large-Cap ETF | 49.6% | +55 bp | -0.1% |
| BKF | iShares MSCI BIC ETF | 44.3% | +50 bp | -2.5% |
| MCH | Matthews China Active ETF | 42.9% | +60 bp | -3.4% |
| JCHI | JPMorgan Active China ETF | 36.6% | +46 bp | -1.3% |
| KWEB | KraneShares CSI China Internet ETF | 36.0% | +50 bp | -10.7% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 32.8% | +67 bp | -7.8% |
Risk and Returns: FLCH 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 7/25/2024
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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
FLCH
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
FLCH
9.8%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.8% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. FLCH's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places FLCH in the 72nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FLCH
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| FLCH (19 bp) Percentile rank | 7 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FLCH | 19.0 | 17.5 | 36.5 |
| Peer Avg. | 56.1 | 21.3 | 77.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .