ENZL vs FLKR

ENZLCiShares MSCI New Zealand ETF

FLKRBFranklin FTSE South Korea ETF

In short

ENZL The rare single-ticker route to New Zealand stocks: a compact basket of about 25 NZ names, run by iShares since 2010. Not a Pacific blend, not Australia with a garnish. Just New Zealand.

FLKR Korea in one passive basket for 0.09% a year, a fraction of the 0.50% typical single-country fee. Roughly 160 Korean names tracking a capped FTSE index, run as plain index plumbing rather than a stock-picking bet.

Stated mandate

ENZL The fund seeks to track an index of New Zealand equities and provides targeted exposure to companies in that single country.

FLKR The Fund uses a passive indexing approach to seek returns that closely correspond, before fees and expenses, to the FTSE South Korea Capped Index.

Why people hold it

• ENZL Pure country mandate. Holdings are New Zealand equities only, so the trade never gets diluted by a bigger neighbor's market.ishares.com
• Tracks the MSCI New Zealand All Cap Top 25 Capped Index, which caps individual weights so no single giant can swallow the basket.ishares.com
• Launched in 2010, with a long operating record on an iShares platform rather than a recent shelf addition.
• The 0.50% expense ratio sits right at the median for single-country developed-market ETFs.

• FLKR Charges 0.09% a year against a 0.50% median for single-country developed-market ETFs, tying FLAU as the cheapest fee among this cohort's leaders and undercutting EWC and EWU by a wide margin.
• Straight indexing: it seeks returns that closely correspond, before fees, to the FTSE South Korea Capped Index. No manager views, no discretionary tilts.
• The capped index spreads roughly 160 stocks and limits how far any single giant can dominate the basket, which matters in a market this top-heavy.
• A billion-dollar-plus fund that trades actively, and it has been running since 2017, so it is well past the launch-window stage.

Worth knowing

• ENZL Around 25 stocks. A few companies steer the whole fund, which is the deal you accept with a small developed market.
• Cheaper single-country options exist: FLKR and FLAU both run 0.09%. The New Zealand mandate carries a higher fee.
• Mid-size and only moderately traded, so limit orders matter more here than in the giants of the category. Distributions land once or twice a year.

• FLKR One country, one currency. Korean shares price in won, so the exchange rate is baked into what a US investor sees, separate from how the companies do.
• Roughly 160 stocks in a single export-driven market is a narrow slice next to a global fund. Capping softens concentration, it does not erase it.
• Distributions land annually or semiannually, not monthly, so it is built as an equity holding rather than an income schedule.

Full ENZL profile⁠

Full FLKR profile⁠