- Issuer
- Franklin Templeton
- Inception Date
- May 30, 2018
- Region
- Developed Markets (Broad)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $1B
Share Price Chart
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Performance
FLHY Performance Chart
Franklin Liberty High Yield Corporate ETF (FLHY) is up 1.9% since the beginning of the year. FLHY is currently trading at $24 per share. Investors who bought $1,000 worth of FLHY shares 5 years ago would now be looking at an investment worth $1,264.
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Returns By Period
Franklin Liberty High Yield Corporate ETF (FLHY) has returned 1.94% so far this year and 8.18% over the past 12 months.
Franklin Liberty High Yield Corporate ETF
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- 1.94%
- 6M
- 2.66%
- 1Y
- 8.18%
- 3Y*
- 9.33%
- 5Y*
- 4.80%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
FLHY Monthly Returns History
Based on dividend-adjusted daily data since Jun 1, 2018, FLHY's average daily return is +0.02%, while the average monthly return is +0.51%. At this rate, an investment would double in approximately 11.4 years.
Historically, 69% of months were positive and 31% were negative. The best month was May 2020 with a return of +6.0%, while the worst month was Mar 2020 at -11.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FLHY closed higher 51% of trading days. The best single day was Mar 26, 2020 with a return of +4.1%, while the worst single day was Mar 16, 2020 at -5.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.76% | 0.00% | -0.88% | 1.66% | 0.39% | 0.01% | 1.94% | ||||||
| 2025 | 1.26% | 0.67% | -1.04% | 0.33% | 1.68% | 1.93% | 0.18% | 1.15% | 1.05% | 0.21% | 0.69% | 0.82% | 9.26% |
| 2024 | 0.47% | 0.52% | 1.32% | -0.99% | 1.98% | 0.67% | 2.09% | 1.55% | 1.03% | -1.01% | 1.38% | -0.56% | 8.70% |
| 2023 | 3.93% | -1.82% | 2.46% | 0.27% | -0.63% | 1.76% | 1.40% | 0.22% | -1.16% | -1.31% | 4.53% | 3.24% | 13.40% |
| 2022 | -2.14% | -1.58% | -1.35% | -3.74% | 1.30% | -7.16% | 5.69% | -2.91% | -3.56% | 2.99% | 3.51% | -1.30% | -10.45% |
| 2021 | -0.56% | 0.17% | 0.47% | 0.89% | 0.20% | 1.22% | 0.37% | 0.36% | 0.09% | -0.45% | -1.33% | 2.82% | 4.27% |
Benchmark Metrics
Franklin Liberty High Yield Corporate ETF has an annualized alpha of 1.54%, beta of 0.31, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since June 04, 2018.
- This ETF participated in 40.79% of S&P 500 Index downside but only 33.76% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.31 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.54%
- Beta
- 0.31
- R²
- 0.56
- Upside Capture
- 33.76%
- Downside Capture
- 40.79%
Expense Ratio
FLHY has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FLHY ranks 70 for risk / return — better than 70% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Franklin Liberty High Yield Corporate ETF (FLHY) and compare them to S&P 500 Index.
| FLHY | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.15 | 2.39 | -0.24 |
Sortino ratioReturn per unit of downside risk | 3.28 | 3.25 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.43 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.38 | 3.11 | +0.26 |
Martin ratioReturn relative to average drawdown | 15.87 | 14.38 | +1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Franklin Liberty High Yield Corporate ETF provided a 6.46% dividend yield over the last twelve months, with an annual payout of $1.57 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.57 | $1.60 | $1.55 | $1.47 | $1.44 | $1.51 | $1.46 | $1.47 | $1.02 |
Dividend yield | 6.46% | 6.53% | 6.51% | 6.26% | 6.54% | 5.76% | 5.47% | 5.61% | 4.27% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Liberty High Yield 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 | $0.13 | $0.11 | $0.14 | $0.13 | $0.13 | $0.64 | ||||||
| 2025 | $0.00 | $0.13 | $0.12 | $0.14 | $0.15 | $0.13 | $0.12 | $0.15 | $0.13 | $0.13 | $0.14 | $0.26 | $1.60 |
| 2024 | $0.00 | $0.13 | $0.12 | $0.13 | $0.14 | $0.14 | $0.11 | $0.14 | $0.12 | $0.11 | $0.15 | $0.26 | $1.55 |
| 2023 | $0.00 | $0.07 | $0.11 | $0.12 | $0.16 | $0.14 | $0.12 | $0.11 | $0.13 | $0.12 | $0.13 | $0.25 | $1.47 |
| 2022 | $0.00 | $0.10 | $0.10 | $0.15 | $0.12 | $0.12 | $0.11 | $0.09 | $0.14 | $0.13 | $0.11 | $0.28 | $1.44 |
| 2021 | $0.18 | $0.09 | $0.10 | $0.10 | $0.10 | $0.12 | $0.11 | $0.11 | $0.12 | $0.10 | $0.00 | $0.37 | $1.51 |
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 High Yield 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 High Yield Corporate ETF was 22.58%, occurring on Mar 23, 2020. Recovery took 89 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -22.58%Mar 2020 | 1mo 9d | 4mo 8d | 5mo 17dFeb 2020 - Jul 2020 |
Bear market2022 | -15.19%Sep 2022 | 9mo 3d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
Rate-hike selloffLate 2018 | -5.44%Dec 2018 | 2mo 21d | 25d | 3mo 16dOct 2018 - Jan 2019 |
2025 selloff2025 | -4.49%Apr 2025 | 1mo 5d | 1mo 4d | 2mo 9dMar 2025 - May 2025 |
2021 pullback2021 | -2.48%Nov 2021 | 2mo 11d | 26d | 3mo 7dSep 2021 - Dec 2021 |
Drawdown Indicators
| FLHY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -56.78% | +34.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -9.10% | +6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -4.49% | -18.90% | +14.41% |
Max Drawdown (5Y)Largest decline over 5 years | -15.19% | -25.43% | +10.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -10.72% | +8.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 1.97% | -1.45% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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