ACVT vs. FLSP

Last updated Jun 24, 2026

ACVT (Advent Convertible Bond ETF) and FLSP (Franklin Liberty Systematic Style Premia ETF) are both exchange-traded funds - ACVT is a Convertible Bonds fund actively managed by Advent, while FLSP is a Long-Short fund actively managed by Franklin Templeton. Both are actively managed. Over the past year, ACVT returned 9.03% vs 14.58% for FLSP. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.65% expense ratio.

Performance

ACVT vs. FLSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advent Convertible Bond ETF (ACVT) and Franklin Liberty Systematic Style Premia ETF (FLSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACVT achieves a 4.05% return, which is significantly higher than FLSP's 1.97% return.

ACVT

• 1D: -0.34%
• 1M: 0.66%
• YTD: 4.05%
• 6M: 3.26%
• 1Y: 9.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLSP

• 1D: -0.36%
• 1M: 0.59%
• YTD: 1.97%
• 6M: 2.01%
• 1Y: 14.58%
• 3Y*: 10.33%
• 5Y*: 8.35%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACVT vs. FLSP - Yearly Performance Comparison

	2026 (YTD)	2025
ACVT Advent Convertible Bond ETF	4.05%	8.04%
FLSP Franklin Liberty Systematic Style Premia ETF	1.97%	15.37%

Correlation

The correlation between ACVT and FLSP is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.07

Return for Risk

ACVT vs. FLSP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACVT

ACVT Risk / Return Rank: 47
ACVT Sharpe Ratio Rank: 49
ACVT Sortino Ratio Rank: 51
ACVT Omega Ratio Rank: 49
ACVT Calmar Ratio Rank: 41
ACVT Martin Ratio Rank: 45

FLSP

FLSP Risk / Return Rank: 56
FLSP Sharpe Ratio Rank: 49
FLSP Sortino Ratio Rank: 50
FLSP Omega Ratio Rank: 46
FLSP Calmar Ratio Rank: 75
FLSP Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACVT vs. FLSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advent Convertible Bond ETF (ACVT) and Franklin Liberty Systematic Style Premia ETF (FLSP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ACVT	FLSP	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.62	-0.05
Sortino ratio: Return per unit of downside risk	2.31	2.31	0.00
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	1.88	3.63	-1.75
Martin ratio: Return relative to average drawdown	6.82	10.82	-4.00

ACVT vs. FLSP - Sharpe Ratio Comparison

The current ACVT Sharpe Ratio is 1.57, which is comparable to the FLSP Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ACVT and FLSP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACVT vs. FLSP - Drawdown Comparison

The maximum ACVT drawdown since its inception was -4.81%, smaller than the maximum FLSP drawdown of -22.75%. Use the drawdown chart below to compare losses from any high point for ACVT and FLSP.

Drawdown Indicators

	ACVT	FLSP	Difference
Max Drawdown Largest peak-to-trough decline	-4.81%	-22.75%	+17.94%
Max Drawdown (1Y) Largest decline over 1 year	-4.81%	-4.03%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.52%	—
Current Drawdown Current decline from peak	-2.04%	-1.26%	-0.78%
Average Drawdown Average peak-to-trough decline	-0.82%	-6.26%	+5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	1.39%	-0.06%

Volatility

ACVT vs. FLSP - Volatility Comparison

Advent Convertible Bond ETF (ACVT) has a higher volatility of 2.42% compared to Franklin Liberty Systematic Style Premia ETF (FLSP) at 1.79%. This indicates that ACVT's price experiences larger fluctuations and is considered to be riskier than FLSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACVT	FLSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	1.79%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	4.73%	6.78%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	5.79%	9.07%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	13.35%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	13.48%	-7.69%

ACVT vs. FLSP - Expense Ratio Comparison

Both ACVT and FLSP have an expense ratio of 0.65%.

Dividends

ACVT vs. FLSP - Dividend Comparison

ACVT's dividend yield for the trailing twelve months is around 1.66%, less than FLSP's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ACVT Advent Convertible Bond ETF	1.66%	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%
FLSP Franklin Liberty Systematic Style Premia ETF	2.60%	2.65%	1.18%	1.19%	2.18%	1.19%	8.08%

Frequently Asked Questions

Can I hold both ACVT and FLSP in my portfolio?

ACVT and FLSP have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACVT or FLSP?

ACVT has higher volatility (2.42%) compared to FLSP (1.79%). In terms of maximum drawdown, ACVT dropped -4.81% vs FLSP's -22.75%.

Which ETF is better, ACVT or FLSP?

On 1-year performance, FLSP leads with 14.58% vs 9.03% for ACVT. Both ETFs have the same 0.65% expense ratio. On volatility, FLSP has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACVT or FLSP?

Over the 1-year period, FLSP has performed better with a 14.58% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACVT or FLSP?

ACVT and FLSP have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, ACVT or FLSP?

FLSP has the higher dividend yield at 2.60%, compared with 1.66% for ACVT.

What is the main difference between ACVT and FLSP?

ACVT is categorized as Convertible Bonds, while FLSP is Long-Short. They also come from different issuers: Advent and Franklin Templeton.

Which has better risk-adjusted returns?

FLSP currently has the higher Sharpe Ratio (1.62 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.