- Issuer
- Franklin Templeton
- Inception Date
- Nov 2, 2017
- Region
- Developed Europe (Broad)
- Category
- Europe Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- FTSE Developed Europe RIC Capped Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $29M
Share Price Chart
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Performance
FLEH Performance Chart
Franklin FTSE Europe Hedged ETF (FLEH) is up 9.3% since the beginning of the year. FLEH is currently trading at $36 per share. Investors who bought $1,000 worth of FLEH shares 5 years ago would now be looking at an investment worth $1,790.
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Returns By Period
Franklin FTSE Europe Hedged ETF (FLEH) has returned 9.26% so far this year and 23.73% over the past 12 months.
Franklin FTSE Europe Hedged ETF
- 1D
- -0.30%
- 1M
- 3.52%
- YTD
- 9.26%
- 6M
- 10.22%
- 1Y
- 23.73%
- 3Y*
- 18.17%
- 5Y*
- 12.35%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FLEH Monthly Returns History
Based on dividend-adjusted daily data since Nov 6, 2017, FLEH's average daily return is +0.05%, while the average monthly return is +0.93%. At this rate, an investment would double in approximately 6.2 years.
Historically, 63% of months were positive and 38% were negative. The best month was Nov 2020 with a return of +14.4%, while the worst month was Mar 2020 at -13.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FLEH closed higher 49% of trading days. The best single day was Dec 20, 2018 with a return of +10.9%, while the worst single day was Dec 24, 2018 at -12.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.86% | 2.98% | -9.14% | 6.62% | 3.03% | 2.34% | 9.26% | ||||||
| 2025 | 7.01% | 4.05% | 2.02% | 6.11% | 4.79% | 3.00% | -2.81% | 3.43% | 3.28% | 0.27% | 0.86% | 3.64% | 41.56% |
| 2024 | -0.71% | 4.58% | 3.47% | -3.43% | 5.43% | -4.32% | 1.55% | 3.81% | 1.79% | -5.54% | -2.94% | -0.69% | 2.26% |
| 2023 | 7.49% | 1.25% | 0.52% | 3.68% | -2.54% | 2.69% | 1.15% | -4.63% | -5.97% | -2.95% | 11.00% | 4.76% | 16.21% |
| 2022 | -2.21% | -4.94% | 1.72% | -1.44% | 0.67% | -7.33% | 6.20% | -4.42% | -6.12% | 7.07% | 8.05% | -5.19% | -9.14% |
| 2021 | -0.74% | 3.25% | 5.24% | 2.56% | 2.74% | 1.39% | 1.36% | 2.31% | -3.36% | 4.42% | -2.60% | 4.98% | 23.27% |
Benchmark Metrics
Franklin FTSE Europe Hedged ETF has an annualized alpha of 2.67%, beta of 0.64, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since November 06, 2017.
- This ETF participated in 72.35% of S&P 500 Index downside but only 68.55% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.64 may look defensive, but with R2 of 0.46 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 0.46 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 2.67%
- Beta
- 0.64
- R²
- 0.46
- Upside Capture
- 68.55%
- Downside Capture
- 72.35%
Expense Ratio
FLEH has an expense ratio of 0.09%, which is considered low.
Return for Risk
Risk / Return Rank
FLEH ranks 39 for risk / return — below 39% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Franklin FTSE Europe Hedged ETF (FLEH) 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.
| FLEH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 2.78 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.45 | 12.44 | -5.99 |
Dividends
Dividend History
Franklin FTSE Europe Hedged ETF provided a 1.06% dividend yield over the last twelve months, with an annual payout of $0.38 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.74 | $0.76 | $0.79 | $4.62 | $0.87 | $0.47 | $1.47 | $2.47 | $0.02 |
Dividend yield | 1.06% | 2.22% | 3.18% | 3.25% | 21.45% | 3.03% | 1.94% | 6.06% | 12.17% | 0.07% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin FTSE Europe Hedged 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.74 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.76 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.79 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.39 | $4.62 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.72 | $0.87 |
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 FTSE Europe Hedged 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 FTSE Europe Hedged ETF was 33.94%, occurring on Mar 16, 2020. Recovery took 206 trading sessions.
The current Franklin FTSE Europe Hedged ETF drawdown is 0.30%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -33.94%Mar 2020 | 25d | 9mo 27d | 10mo 22dFeb 2020 - Jan 2021 |
Bear market2022 | -18.67%Sep 2022 | 8mo 27d | 6mo 17d | 1y 3moJan 2022 - Apr 2023 |
2025 selloff2025 | -15.67%Apr 2025 | 19d | 20d | 1mo 9dMar 2025 - Apr 2025 |
2023 correction2023 | -14.86%Oct 2023 | 2mo 28d | 1mo 18d | 4mo 16dJul 2023 - Dec 2023 |
Rate-hike selloffLate 2018 | -14.33%Dec 2018 | 6mo 2d | 3mo 10d | 9mo 12dJun 2018 - Apr 2019 |
Drawdown Indicators
| FLEH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.94% | -56.78% | +22.84% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -9.10% | -4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.67% | -18.90% | +3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.67% | -25.43% | +6.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.30% | -1.80% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -10.71% | +6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 2.03% | +1.66% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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