Franklin Asian Equity Fund vs Franklin India Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin Asian Equity Fund is a Thematic fund and Franklin India Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Franklin Asian Equity Fund (Direct) returned 21.8% a year and Franklin India Flexi Cap Fund (Direct) returned 10.4% a year. Franklin Asian Equity Fund charges 1.24% a year and Franklin India Flexi Cap Fund 0.99% (Direct plans). Their portfolios overlap 23.9%: they hold 18 of the same securities.
Franklin Asian Equity Fund
Thematic
- 3 year return
- 21.8%
- Expense ratio
- 1.24%
- NAV
- ₹45.69
Franklin India Flexi Cap Fund
Flexi Cap
- 3 year return
- 10.4%
- Expense ratio
- 0.99%
- NAV
- ₹1,706.13
Which is better, Franklin Asian Equity or Franklin India Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Franklin India Flexi Cap returned more over 5 years: 10.1% a year against 6.9%.
- Franklin Asian Equity returned more over 3 years: 21.8% a year against 10.4%.
- Franklin India Flexi Cap costs less: 0.99% a year against 1.24% (Direct plans).
- Franklin India Flexi Cap swung less over 3 years: a standard deviation of 13.4% a year against 16.7%.
- Franklin India Flexi Cap fell less in its worst fall since 01-01-2013: −37.7% against −40.2%.
- Franklin Asian Equity holds 50.0% of the fund in foreign stocks; Franklin India Flexi Cap 0.0%.
- Franklin India Flexi Cap holds more in large companies: 71.5% of the fund in large caps against 31.0%.
- Franklin India Flexi Cap is the larger fund: ₹18,188 Cr against ₹981 Cr.
- Their portfolios overlap 23.9%: 18 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Franklin Asian Equity Fund | Franklin India Flexi Cap Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Franklin Templeton Mutual Fund |
| Category | Thematic | Flexi Cap |
| AUM | ₹981 Cr (30-09-2026) | ₹18,188 Cr (30-09-2026) |
| NAV | ₹45.69 (Direct) | ₹1,706.13 (Direct) |
| Expense ratio (Direct) | 1.24% | 0.99% |
| Expense ratio (Regular) | 2.51% | 1.78% |
| Riskometer | Not available | Not available |
| Benchmark | 75% MSCI Asia (Ex-Japan) Standard Index + 25% Nifty 500 Index | Nifty 500 TRI |
| Launch date | 16-01-2008 | 29-09-1994 |
| Minimum investment | 5000/1 | 5000/1 |
| Lock in | None | None |
| Fund managers | Shyam Sundar Sriram, Sandeep Manam | Janakiraman Rengaraju, Rajasa Kakulavarapu, Sandeep Manam |
| Exit load | 1% if the units are redeemed/switched- out within one year from the date of allotment | Exit load of 1% if redeemed within 1 year |
Franklin Asian Equity vs Franklin India Flexi Cap: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Franklin Asian Equity Fund (Direct) | −7.04% | −1.35% | +2.88% | +17.49% | +21.75% | +6.86% | +9.80% |
| Franklin India Flexi Cap Fund (Direct) | +0.23% | −5.54% | −2.48% | −8.94% | +10.40% | +10.05% | +12.84% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
Category average: the average of the 235 Thematic funds and the 46 Flexi Cap funds, same plan type.
Franklin Asian Equity vs Franklin India Flexi Cap: Year-wise Returns
| Year | Asian EquityFranklin Asian Equity | India Flexi CapFranklin India Flexi Cap |
|---|---|---|
| 2026to date | +17.11% | −8.33% |
| 2025 | +24.71% | +4.15% |
| 2024 | +15.43% | +22.69% |
| 2023 | +1.67% | +31.81% |
| 2022 | −13.75% | +6.10% |
| 2021 | −5.16% | +41.32% |
Franklin Asian Equity vs Franklin India Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Franklin India Flexi Cap Fund
Rolling returns
Every 3-year holding period, 2,667 of them, one for each trading day from 01-01-2016 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Franklin Asian Equity Fund (Direct)
Franklin India Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin Asian Equity | 12.9 | 15.0 | 28.3 | 32.6 | 7.0 | 4.2 | 0.0 | 8.2% | 8.9% | −10.5% | 25.0% | 27% |
| Franklin India Flexi Cap | 3.8 | 4.3 | 10.6 | 21.0 | 23.4 | 25.2 | 11.8 | 16.6% | 17.8% | −8.6% | 36.8% | 68% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.0 | 34.8 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 01-01-2013. Past returns do not promise future returns.
Franklin Asian Equity vs Franklin India Flexi Cap: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin Asian EquityFranklin Asian Equity Fund (Direct) | ₹16,60,000 | ₹34,24,441 | ₹17,64,441 | 9.9% |
| Franklin India Flexi CapFranklin India Flexi Cap Fund (Direct) | ₹16,60,000 | ₹47,02,574 | ₹30,42,574 | 14.0% |
Franklin Asian EquityFranklin Asian Equity Fund (Direct)
Franklin India Flexi CapFranklin India Flexi Cap Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Franklin Asian Equity vs Franklin India Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin Asian Equity Fund (Direct) | Franklin India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.49% | −8.94% |
| Standard deviation | 20.62% | 13.83% |
| Sharpe ratio | 0.59 | -1.03 |
| Sortino ratio | 0.83 | -1.37 |
| Maximum drawdown | −12.5% (31-03-2026) | −14.0% (31-03-2026) |
| Beta | -- | 0.95 |
| Alpha | -- | −2.29% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Franklin Asian Equity Fund (Direct) | Franklin India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.75% | +10.40% |
| Standard deviation | 16.65% | 13.37% |
| Sharpe ratio | 0.94 | 0.33 |
| Sortino ratio | 1.34 | 0.45 |
| Maximum drawdown | −14.2% (07-04-2025) | −16.4% (28-02-2025) |
| Beta | -- | 0.92 |
| Alpha | -- | +0.51% |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Franklin Asian Equity Fund (Direct) | Franklin India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.86% | +10.05% |
| Standard deviation | 17.63% | 13.67% |
| Sharpe ratio | 0.06 | 0.31 |
| Sortino ratio | 0.09 | 0.42 |
| Maximum drawdown | −32.6% (25-10-2022) | −17.6% (20-06-2022) |
| Beta | -- | 0.93 |
| Alpha | -- | +1.44% |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Franklin Asian Equity Fund (Direct) | Franklin India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.42% | +14.78% |
| Standard deviation | 15.43% | 15.03% |
| Sharpe ratio | 0.22 | 0.58 |
| Sortino ratio | 0.31 | 0.79 |
| Maximum drawdown | −40.2% (25-10-2022) | −37.7% (23-03-2020) |
| Beta | -- | 0.92 |
| Alpha | -- | +2.47% |
From daily NAVs, 01-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Franklin Asian Equity Fund (Direct)
Franklin India Flexi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin Asian Equity Fund (Direct) | −40.2% | 17-02-2021 | 25-10-2022 | 03-10-2025 | 35 months | −11.0% |
| Franklin India Flexi Cap Fund (Direct) | −37.7% | 31-08-2018 | 23-03-2020 | 10-11-2020 | 8 months | −10.0% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 01-01-2013, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Franklin Asian Equity Fund (Direct)
Franklin India Flexi Cap Fund (Direct)
Nifty 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Franklin Asian Equity Fund (Direct)
Franklin India Flexi Cap Fund (Direct)
Nifty 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Franklin Asian Equity Fund (Direct)
Franklin India Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin Asian Equity Fund (Direct) | 51% | 28% | 17.13% |
| Franklin India Flexi Cap Fund (Direct) | 98% | 87% | 4.05% |
From month-end values since 01-01-2013. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Franklin Asian Equity vs Franklin India Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin Asian Equity Fund, September 2026; Franklin India Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 23.9%
- Held by both
- 18
- Only in Franklin Asian Equity
- 12
- Only in Franklin India Flexi Cap
- 41
| Security | % of Franklin Asian Equity | % of Franklin India Flexi Cap |
|---|---|---|
| ICICI Bank Ltd | 3.05% | 6.46% |
| Eternal Ltd | 1.83% | 3.20% |
| Larsen & Toubro Ltd | 1.77% | 3.82% |
| Bharat Electronics Ltd | 1.63% | 2.02% |
| HDFC Bank Ltd | 1.50% | 5.24% |
| Reliance Industries Ltd | 1.40% | 2.93% |
| Tube Investments of India Ltd | 1.28% | 1.34% |
| Mahindra & Mahindra Ltd | 1.27% | 3.09% |
| Hindalco Industries Ltd | 1.87% | 1.26% |
| 360 One Wam Ltd | 1.45% | 1.22% |
| Meesho Ltd | 1.24% | 1.21% |
| State Bank of India | 1.08% | 3.43% |
| Tata Capital Ltd | 1.02% | 1.22% |
| Tata Power Co Ltd | 1.02% | 1.90% |
| HCL Technologies Ltd | 1.01% | 2.00% |
| Ultratech Cement Ltd | 0.95% | 1.40% |
| Infosys Ltd | 0.93% | 2.54% |
| Divi's Laboratories Ltd | 2.72% | 0.51% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.9% means 23.9% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Franklin Asian Equity Fund
| Security | % of fund |
|---|---|
| Torrent Pharmaceuticals Ltd | 2.23% |
| Oberoi Realty Ltd | 2.07% |
| Indian Hotels Co Ltd | 1.71% |
| ABB India Ltd | 1.59% |
| Lodha Developers Ltd | 1.47% |
Largest holdings only in Franklin India Flexi Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Ltd | 5.27% |
| Bharti Airtel Ltd | 3.32% |
| Kotak Mahindra Bank Ltd | 3.12% |
| Apollo Hospitals Enterprise Ltd | 2.52% |
| Kirloskar Oil Engines Ltd | 2.34% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin Asian Equity | Franklin India Flexi Cap |
|---|---|---|
| Equity | 93.8% | 94.7% |
| Debt | 0.0% | 0.4% |
| Cash and others | 6.2% | 4.9% |
Market cap of stocks
| Market cap | Franklin Asian Equity | Franklin India Flexi Cap |
|---|---|---|
| Large Cap | 31.0% | 71.5% |
| Mid Cap | 11.8% | 12.8% |
| Small Cap | 0.0% | 10.4% |
| Foreign stocks | 50.0% | 0.0% |
| Not on AMFI's list | 1.0% | 0.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Franklin Asian Equity | Franklin India Flexi Cap |
|---|---|---|
| Banks | 7.5% | 23.5% |
| IT - Hardware | 20.7% | 0.0% |
| Consumer Durables | 7.9% | 4.4% |
| Pharmaceuticals & Biotechnology | 7.3% | 3.4% |
| Retailing | 5.2% | 6.3% |
| IT - Software | 4.4% | 5.0% |
| Finance | 4.9% | 1.8% |
| Power | 1.0% | 4.2% |
| Petroleum Products | 1.4% | 4.1% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin Asian Equity vs Franklin India Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin Asian Equity Fund | Franklin India Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.24% | 0.99% |
| Base expense ratio (Direct) | 0.87% | 0.75% |
| Total expense ratio (Regular) | 2.51% | 1.78% |
| Base expense ratio (Regular) | 1.96% | 1.43% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Franklin Asian Equity with
Franklin Asian Equity Fund vs Franklin India Flexi Cap Fund: Frequently Asked Questions
What is the difference between Franklin Asian Equity Fund and Franklin India Flexi Cap Fund?
Franklin Asian Equity Fund is a Thematic fund, Franklin India Flexi Cap Fund is a Flexi Cap fund, run by Franklin Templeton Mutual Fund. Their portfolios overlap 23.9%. Franklin Asian Equity Fund charges 1.24% a year and Franklin India Flexi Cap Fund 0.99%.
Which has given higher returns, Franklin Asian Equity Fund or Franklin India Flexi Cap Fund?
Over 1 year: Franklin Asian Equity Fund +17.49%, Franklin India Flexi Cap Fund −8.94%. Over 3 years: Franklin Asian Equity Fund +21.75% a year, Franklin India Flexi Cap Fund +10.40% a year. Over 5 years: Franklin Asian Equity Fund +6.86% a year, Franklin India Flexi Cap Fund +10.05% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin Asian Equity Fund or Franklin India Flexi Cap Fund?
Franklin India Flexi Cap Fund charges less: 0.99% a year against 1.24%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin Asian Equity Fund and Franklin India Flexi Cap Fund overlap?
23.9%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, ETERNAL, LT. From each fund's latest monthly portfolio.
Which is better for SIP, Franklin Asian Equity Fund or Franklin India Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,02,714 in Franklin Asian Equity Fund (XIRR 15.4% a year) and ₹7,56,520 in Franklin India Flexi Cap Fund (XIRR 8.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Franklin Asian Equity Fund and Franklin India Flexi Cap Fund?
Yes. 23.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin Asian Equity Fund and Franklin India Flexi Cap Fund?
Franklin Asian Equity Fund: Shyam Sundar Sriram, Sandeep Manam. Franklin India Flexi Cap Fund: Janakiraman Rengaraju, Rajasa Kakulavarapu, Sandeep Manam.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.