FLMX vs KPHO

FLMXBFranklin FTSE Mexico ETF

KPHOFKraneshares Dragon Capital Vietnam Growth Index ETF

In short

FLMX Mexico exposure at a discount. Franklin's tracker charges 0.19%, a fraction of what single-country emerging-market funds usually cost, and holds a compact basket of the country's largest listed companies.

KPHO Vietnam, run by people who live there. KraneShares hands the stock selection to Dragon Capital, a Vietnam-based manager with three decades on the ground, and wraps it in a published growth index and a US-listed ETF.

Stated mandate

FLMX The Fund seeks to track the performance of the FTSE Mexico Capped Index before fees and expenses through an indexing strategy, investing at least 80% of assets in index components or related exposure.

KPHO The Fund seeks to provide investment results that generally correspond, before fees and expenses, to the performance of its specified equity securities index.

Why people hold it

• FLMX At 0.19%, one of the cheapest wrappers for Mexican equities: well under the roughly 0.59% median in its single-country EM cohort, and under EWW's 0.50%.
• Plain, rules-based mandate: it tracks the FTSE Mexico Capped Index, keeping at least 80% of assets in index components or related exposure. No manager guesswork.
• The index is a capped one, which limits how much of the portfolio any single Mexican mega-cap can occupy.
• Live since 2017 and, on our review, one of the stronger implementations among single-country emerging-market funds.

• KPHO The sub-advisor is Dragon Capital, a Vietnam-based manager the issuer describes as having over 30 years in the market. Local research, not a New York desk squinting at Ho Chi Minh City.kraneshares.comkraneshares.com 2
• It follows the Dragon Capital MerQube Vietnam Growth Index: published rules that pick locally listed Vietnamese companies on fundamental growth criteria rather than a manager's hunches.kraneshares.com
• One ticker gets you locally listed Vietnamese equities inside an ordinary US-listed 1940 Act fund, a market most US brokerage accounts cannot reach directly.kraneshares.com

Worth knowing

• FLMX Thinly traded. Spreads can run wider than at the category's busiest funds, which adds to the real cost of getting in and out beyond the headline fee.
• One country, roughly 40 stocks. Concentration is the point, but it means Mexican policy, oil and peso moves all land straight in a dollar-based return.
• Income arrives quarterly, not monthly.

• KPHO The 1.02% fee sits near the top of the single-country emerging-market shelf, where the typical fund charges closer to 0.59%. Local expertise is not priced like an index tracker.
• It listed in December 2025 and began life small and thinly traded, so quotes can be wider than on long-established country funds and there is little live track record yet.
• One country, one currency: Vietnam's market sets the whole result. Distributions come once or twice a year, so this is a growth-shaped holding, not an income stream.

Full FLMX profile⁠

Full KPHO profile⁠