ARGFX vs. FLEU

Last updated Aug 1, 2026

ARGFX (Ariel Fund) and FLEU (Franklin FTSE Eurozone ETF) are both funds - ARGFX is a Mid Cap Value Equities fund managed by Ariel Investments, while FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net. Over the past 5 years, ARGFX returned 6.92%/yr vs 12.16%/yr for FLEU. Their 0.60 correlation means they have sometimes moved together and sometimes differently. ARGFX charges 1.00%/yr vs 0.09%/yr for FLEU.

Performance

ARGFX vs. FLEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ariel Fund (ARGFX) and Franklin FTSE Eurozone ETF (FLEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGFX achieves a 13.71% return, which is significantly higher than FLEU's 10.02% return.

ARGFX

• 1D: -0.13%
• 1M: 1.34%
• 6M: 8.08%
• YTD: 13.71%
• 1Y: 27.30%
• 3Y*: 13.24%
• 5Y*: 6.92%
• 10Y*: 10.54%
• ALL TIME*: 10.93%

FLEU

• 1D: 0.00%
• 1M: 0.40%
• 6M: 5.93%
• YTD: 10.02%
• 1Y: 23.92%
• 3Y*: 17.76%
• 5Y*: 12.16%
• 10Y*: —
• ALL TIME*: 10.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARGFX Ariel Fund	$0.00	$0.00	$0.00
FLEU Franklin FTSE Eurozone ETF	$166.73K	$205.09K	$250.17K

ARGFX vs. FLEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARGFX Ariel Fund	13.71%	14.08%	11.56%	15.78%	-18.68%	30.29%	10.05%	24.64%	-13.59%	7.44%
FLEU Franklin FTSE Eurozone ETF	10.02%	41.56%	2.26%	16.21%	-9.14%	23.27%	0.95%	26.94%	-8.54%	-1.24%

Correlation

The correlation between ARGFX and FLEU is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.60

The correlation between ARGFX and FLEU has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.

Return for Risk

ARGFX vs. FLEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ARGFX

ARGFX Risk / Return Rank: 53
ARGFX Sharpe Ratio Rank: 53
ARGFX Sortino Ratio Rank: 59
ARGFX Omega Ratio Rank: 48
ARGFX Calmar Ratio Rank: 62
ARGFX Martin Ratio Rank: 43

FLEU

FLEU Risk / Return Rank: 53
FLEU Sharpe Ratio Rank: 55
FLEU Sortino Ratio Rank: 56
FLEU Omega Ratio Rank: 54
FLEU Calmar Ratio Rank: 49
FLEU Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ARGFX vs. FLEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ariel Fund (ARGFX) and Franklin FTSE Eurozone ETF (FLEU). 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.

	ARGFX	FLEU	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.32	+0.03
Sortino ratio: Return per unit of downside risk	2.06	1.93	+0.13
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	2.06	1.74	+0.33
Martin ratio: Return relative to average drawdown	6.06	6.33	-0.28

ARGFX vs. FLEU - Sharpe Ratio Comparison

The current ARGFX Sharpe Ratio is 1.35, which is comparable to the FLEU Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of ARGFX and FLEU, 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

ARGFX vs. FLEU - Drawdown Comparison

The maximum ARGFX drawdown since its inception was -71.02%, which is greater than FLEU's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for ARGFX and FLEU.

Drawdown Indicators

	ARGFX	FLEU	Difference
Max Drawdown Largest peak-to-trough decline	-71.02%	-33.94%	-37.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-13.41%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-28.07%	-15.67%	-12.40%
Max Drawdown (5Y) Largest decline over 5 years	-33.00%	-18.67%	-14.33%
Max Drawdown (10Y) Largest decline over 10 years	-45.29%	—	—
Current Drawdown Current decline from peak	-0.99%	-0.32%	-0.67%
Average Drawdown Average peak-to-trough decline	-8.43%	-4.65%	-3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	3.67%	+0.54%

Volatility

ARGFX vs. FLEU - Volatility Comparison

Ariel Fund (ARGFX) and Franklin FTSE Eurozone ETF (FLEU) have volatilities of 4.62% and 4.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGFX	FLEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	4.77%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	13.69%	15.47%	-1.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.93%	17.78%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.44%	16.53%	+5.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	18.25%	+4.45%

ARGFX vs. FLEU - Expense Ratio Comparison

ARGFX has a 1.00% expense ratio, which is higher than FLEU's 0.09% expense ratio.

Dividends

ARGFX vs. FLEU - Dividend Comparison

ARGFX's dividend yield for the trailing twelve months is around 10.38%, more than FLEU's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARGFX Ariel Fund	10.38%	11.80%	5.49%	5.09%	9.01%	5.56%	5.33%	5.81%	10.35%	6.30%	6.56%	16.28%
FLEU Franklin FTSE Eurozone ETF	2.67%	2.22%	3.18%	3.25%	21.45%	3.03%	1.94%	6.06%	12.17%	0.07%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARGFX and FLEU in my portfolio?

ARGFX and FLEU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGFX or FLEU?

FLEU has higher volatility (4.77%) compared to ARGFX (4.62%). In terms of maximum drawdown, ARGFX dropped -71.02% vs FLEU's -33.94%.

Which has better risk-adjusted returns?

ARGFX currently has the higher Sharpe Ratio (1.35 vs 1.32), 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.