- ISIN
- US35473P6034
- CUSIP
- 35473P603
- Issuer
- Franklin Templeton
- Inception Date
- Oct 3, 2016
- Region
- Developed Markets (Broad)
- Category
- Corporate Bonds, Investment Grade Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $555M
Highlights
- Avg. Volume (1M)
- 85K
- Avg. Volume Value (1M)
- $1.79M
Share Price Chart
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Performance
FLCO Performance Chart
Franklin Liberty Investment Grade Corporate ETF (FLCO) is down 0.8% since the beginning of the year. FLCO is currently trading at $21 per share. Investors who bought $1,000 worth of FLCO shares 5 years ago would now be looking at an investment worth $971.
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Returns By Period
Franklin Liberty Investment Grade Corporate ETF (FLCO) has returned -0.84% so far this year and 1.48% over the past 12 months.
Franklin Liberty Investment Grade Corporate ETF
- 1D
- -0.19%
- 1M
- -1.66%
- 6M
- -1.11%
- YTD
- -0.84%
- 1Y
- 1.48%
- 3Y*
- 4.57%
- 5Y*
- -0.59%
- 10Y*
- —
- ALL TIME*
- 1.98%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FLCO Monthly Returns History
Based on dividend-adjusted daily data since Oct 5, 2016, FLCO's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2020 with a return of +6.5%, while the worst month was Mar 2020 at -9.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FLCO closed higher 49% of trading days. The best single day was Apr 9, 2020 with a return of +3.0%, while the worst single day was Mar 19, 2020 at -5.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.28% | 1.03% | -1.69% | 0.30% | 0.78% | 0.22% | -1.72% | -0.84% | |||||
| 2025 | 0.44% | 1.95% | -0.09% | -0.01% | 0.34% | 1.64% | -0.04% | 0.84% | 1.71% | 0.15% | 0.75% | -0.36% | 7.53% |
| 2024 | -0.30% | -1.51% | 1.34% | -2.60% | 2.06% | 0.56% | 2.13% | 1.85% | 1.71% | -2.54% | 1.42% | -2.01% | 1.93% |
| 2023 | 4.41% | -3.25% | 2.32% | 0.70% | -1.33% | 0.46% | 0.23% | -0.90% | -2.80% | -1.78% | 5.76% | 4.29% | 7.94% |
| 2022 | -3.12% | -2.04% | -2.49% | -5.99% | 1.14% | -3.07% | 3.74% | -3.54% | -4.93% | -1.17% | 5.42% | -0.72% | -16.08% |
| 2021 | -1.49% | -2.02% | -1.68% | 1.05% | 0.54% | 1.80% | 1.22% | -0.20% | -1.28% | 0.25% | -0.33% | 0.16% | -2.06% |
Benchmark Metrics
Franklin Liberty Investment Grade Corporate ETF has an annualized alpha of 0.64%, beta of 0.11, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since October 05, 2016.
- This ETF participated in 38.12% of S&P 500 Index downside but only 21.19% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.11 may look defensive, but with R2 of 0.08 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.08 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.64%
- Beta
- 0.11
- R²
- 0.08
- Upside Capture
- 21.19%
- Downside Capture
- 38.12%
Expense Ratio
FLCO has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FLCO ranks 24 for risk / return — above 24% of ETFs peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLCO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 2.00 | -1.19 |
| Martin ratioReturn relative to average drawdown | 2.16 | 8.49 | -6.33 |
Dividends
Dividend History
Franklin Liberty Investment Grade Corporate ETF provided a 4.32% dividend yield over the last twelve months, with an annual payout of $0.91 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.91 | $1.00 | $0.98 | $0.83 | $0.80 | $0.74 | $1.08 | $0.87 | $0.89 | $0.83 | $0.12 |
Dividend yield | 4.32% | 4.60% | 4.63% | 3.83% | 3.85% | 2.85% | 3.99% | 3.39% | 3.86% | 3.33% | 0.51% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Liberty Investment Grade Corporate ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.07 | $0.07 | $0.09 | $0.09 | $0.08 | $0.08 | $0.48 | |||||
| 2025 | $0.00 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.09 | $0.08 | $0.08 | $0.10 | $0.17 | $1.00 |
| 2024 | $0.00 | $0.07 | $0.12 | $0.07 | $0.08 | $0.08 | $0.07 | $0.08 | $0.08 | $0.07 | $0.09 | $0.16 | $0.98 |
| 2023 | $0.00 | $0.03 | $0.06 | $0.07 | $0.06 | $0.08 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.15 | $0.83 |
| 2022 | $0.00 | $0.11 | $0.06 | $0.07 | $0.06 | $0.06 | $0.07 | $0.08 | $0.07 | $0.06 | $0.06 | $0.10 | $0.80 |
| 2021 | $0.06 | $0.06 | $0.07 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.00 | $0.13 | $0.74 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Franklin Liberty Investment Grade Corporate ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Franklin Liberty Investment Grade Corporate ETF was 22.71%, occurring on Oct 20, 2022. The portfolio has not yet recovered.
The current Franklin Liberty Investment Grade Corporate ETF drawdown is 3.58%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-22.71%Oct 2022 | 1y 9mo | — | 5y 7moJan 2021 - now | Bear market2022 |
-18.62%Mar 2020 | 10d | 2mo 29d | 3mo 9dMar 2020 - Jun 2020 | COVID crash2020 |
-4.75%Nov 2018 | 11mo 7d | 3mo 18d | 1y 2moDec 2017 - Mar 2019 | Rate-hike selloffLate 2018 |
-4.15%Dec 2016 | 1mo 18d | 6mo 3d | 7mo 21dOct 2016 - Jun 2017 | — |
-2.74%Oct 2020 | 1mo 29d | 1mo 26d | 3mo 25dAug 2020 - Nov 2020 | — |
Drawdown Indicators
| FLCO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -56.78% | +34.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -9.10% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -18.90% | +13.54% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -25.43% | +2.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -3.58% | -1.58% | -2.00% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -10.70% | +4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.14% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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