FLMX ETF: What Is It? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
The Franklin FTSE Mexico ETF (FLMX) is a single-country fund that invests in Mexican large- and mid-cap stocks. Its low expense ratio and emerging-market diversification are the key factors shaping its outlook, and comparing fees and liquidity against related products with the same Mexico exposure, such as EWW, is the main selection criterion.
SubscribeWhat Is the Franklin FTSE Mexico ETF?
This is a single-country ETF that tracks the FTSE Mexico Index and holds large- and mid-cap stocks listed on the Mexican stock market, weighted by market capitalization. It captures the broad direction of the Mexican economy in a single holding.
It suits satellite-portfolio investors who want concentrated exposure to Mexico within emerging markets and prefer to adjust country allocations themselves.
The ETF is passively managed (index-tracking) by Franklin Templeton.
How Does the Franklin FTSE Mexico ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | FTSE Mexico Index |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Semiannual |
| Dividend Frequency | Semiannual |
| Issuer | Franklin Templeton |
| Total Expense Ratio | 0.19% |
The fund holds Mexican large- and mid-cap stocks at their index weights and tracks the performance of the country's market as a whole. It reflects index changes through semiannual rebalancing without any individual stock selection, and its low fee structure is aimed at reducing the cost burden of long-term holding.
- Pure Mexico exposure concentrated in a single country
- Aims for fees below the category average
Franklin FTSE Mexico ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $83.8M, and the total expense ratio is 0.19% per year.
Its fee burden tends to be lower than that of EWW, which offers the same Mexico exposure, but there may be differences in trading liquidity and fund size.
Franklin FTSE Mexico ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe Mexican stock market depends heavily on trade with the United States, and it has tended to react sensitively to the North American economy and the peso exchange rate. Volatility tends to appear in response to commodity prices and changes in US trade policy.
Interest in single-country ETFs ebbs and flows with the nearshoring trend and demand for emerging-market diversification. In periods of dollar strength, money tends to flow out of emerging-market assets broadly, so it is necessary to check the direction of fund flows.
Franklin FTSE Mexico ETF Strengths and Weaknesses
Its strengths are the low fee and pure Mexico exposure, while its main weaknesses are single-country concentration and currency volatility.
💪 Key Strengths
⚠️ Points to Watch
Franklin FTSE Mexico ETF Alternatives and Related Products
EWZ, MCHI, FXI, INDA, and EWT, shown in the table, are single-country ETFs with exposure to Brazil, China, India, and Taiwan respectively, and they serve as comparison candidates when building an emerging-market allocation alongside Mexico. A direct substitute that tracks the same Mexican market is EWW, which has a larger fund size and greater liquidity. To broaden exposure across emerging markets, broad emerging-market ETFs such as VWO and EEM can also be considered.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWZ | iShares MSCI Brazil ETF | $42.59 | +1.8% | $13.8B | 0.59% | 3.18% | +40.3% |
 EWT | iShares MSCI Taiwan ETF | $104.90 | +0.9% | $11.4B | 0.59% | 0.97% | +64.3% |
 INDA | iShares MSCI India ETF | $46.46 | -1.9% | $5.8B | 0.61% | - | -15.2% |
 MCHI | iShares MSCI China ETF | $49.00 | -0.0% | $5.5B | 0.59% | 2.24% | -23.6% |
 FLTW | Franklin FTSE Taiwan ETF | $100.93 | +1.1% | $4.7B | 0.19% | 1.62% | +65.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 GGAL | Grupo Financiero Galicia ADR | 0.24% | $37.91 | +5.0% | $5.0B | 50.6 | 2.49% |
 FMX | Fomento Economico Mexicano SAB de CV ADR | 0.16% | $128.52 | -0.4% | $25.9B | 25.0 | 5.5% |
| AMX | America Movil SAB de CV ADR | 0.16% | $24.57 | -1.6% | $75.2B | 14.2 | 2.59% |
 CX | Cemex SAB de CV ADR | 0.05% | $10.20 | +0.9% | $15.4B | 30.9 | 1.28% |
 ASR | Grupo Aeroportuario Del Sureste SA ADR | 0.04% | $248.37 | -1.1% | $6.9B | 13.4 | 5.84% |
 OMAB | Grupo Aeroportuario del Centro Norte SAB de C.V ADR | 0.06% | $98.52 | +0.1% | $4.1B | 15.8 | 5.59% |
Franklin FTSE Mexico ETF Investor Checkpoints
These are the points to review before investing in FLMX. Because it is a single-country product, it is advisable to check in advance country concentration, the peso exchange rate, trading liquidity, and the fee burden over a long holding period.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over long-term holding | Aims for a low level |
| 🌎 Country Concentration | Check the weight of single-country Mexico exposure | Concentrated in a single country |
| 💱 Exchange Rate | Impact of peso and dollar exchange rates on won-converted returns | No currency hedge applied |
| 💧 Liquidity | Check daily trading value and bid-ask spread | Needs verification |
Single-country concentration and peso exchange rate fluctuations are the main drivers of short-term volatility. Changes in US trade policy or domestic political events can directly affect the market as a whole.
For investors who want concentrated exposure to Mexico, it is a single-country option accessible at a low fee. If liquidity and fund size are the priority, it is reasonable to consider EWW, and if broad emerging-market diversification is the goal, products such as VWO and EEM can be considered alongside it.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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