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Franklin FTSE Asia ex Japan (FLAX)Overvalued or undervalued?
Look-through valuation · Country · Expense ratio 0.19 % · ISIN US35473P6604
Price history (since 2018)
Monthly close since 2018. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. 2330 | 16.4 % | +10.0 % | 72 |
| Samsung Electronics Co Ltd SSNLF | 6.1 % | n/a | n/a |
| SK Hynix Inc 000660 | 4.4 % | +13.8 % | 72 |
| Tencent Holdings Ltd 0700 | 2.9 % | +84.2 % | 70 |
| Alibaba Group Holding Ltd 9988 | 2.3 % | n/a | n/a |
| MediaTek Inc 2454 | 1.6 % | −21.7 % | 79 |
| DBS Group Holdings Ltd D05 | 1.0 % | −45.7 % | 65 |
| China Construction Bank Corp 0939 | 1.0 % | n/a | n/a |
| AIA Group Ltd 1299 | 0.9 % | −41.4 % | 59 |
| Samsung Electronics Co Pref 005935 | 0.9 % | n/a | n/a |
| Delta Electronics Inc 2308 | 0.9 % | −66.7 % | 71 |
| Hon Hai Precision Industry Co Ltd 2317 | 0.8 % | +19.3 % | 56 |
| HDFC Bank Limited HDFCBANK | 0.7 % | −41.3 % | 51 |
| Reliance Industries Limited RELIANCE | 0.7 % | −27.3 % | 50 |
| ICICI Bank Limited ICICIBANK | 0.7 % | −55.8 % | 57 |
| Industrial and Commercial Bank of China 1398 | 0.7 % | n/a | n/a |
| OVERSEA-CHINESE BANKING CORP O39 | 0.6 % | −31.8 % | 58 |
| ASE Industrial Holding Co Ltd 3711 | 0.6 % | −69.5 % | 50 |
| PDD Holdings Inc. PDD | 0.6 % | +200.0 % | 67 |
| Bharti Airtel Limited BHARTIARTL | 0.6 % | −10.0 % | 58 |
| Xiaomi Corp 1810 | 0.5 % | +89.3 % | 56 |
| Hong Kong Exchange and Clearing Ltd 0388 | 0.5 % | +11.4 % | 76 |
| Meituan 3690 | 0.5 % | n/a | n/a |
| SK Square Co Ltd 402340 | 0.5 % | −47.5 % | 78 |
| Bank of China Ltd H 3988 | 0.4 % | n/a | n/a |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 1546 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 KWEB KraneShares CSI China Internet ETF 49.7 % below FV
- 2 CHIQ Global X MSCI China Consumer Disc ETF 49.3 % below FV
- 3 CHIU Global X MSCI China Utilities ETF 45.9 % below FV
- 4 MCHI iShares MSCI China ETF 36.3 % below FV
- 5 FLCH Franklin FTSE China ETF 35.9 % below FV
- 6 FDNI First Trust Dow Jones International Internet ETF 28.4 % below FV
- 7 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF 26.1 % below FV
- 8 ITB iShares U.S. Home Construction ETF 23.0 % below FV
- 9 FDEM Fidelity® Emerging Markets Multifactor ETF 17.0 % below FV
- 10 XLC Communication Services Select Sector SPDR® Fund 16.2 % below FV
Frequently asked about FLAX
Is FLAX overvalued?
What is the fair value of FLAX?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of FLAX?
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How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Franklin FTSE Asia ex Japan ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Oct 26, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.