BIAHX vs. FLEU

Last updated Aug 1, 2026

BIAHX (Brown Advisory - WMC Strategic European Equity Fund) and FLEU (Franklin FTSE Eurozone ETF) are both Europe Equities funds. Over the past 5 years, BIAHX returned 12.50%/yr vs 12.16%/yr for FLEU. Their 0.75 correlation means they have sometimes moved together and sometimes differently. BIAHX charges 1.19%/yr vs 0.09%/yr for FLEU.

Performance

BIAHX vs. FLEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory - WMC Strategic European Equity Fund (BIAHX) 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, BIAHX achieves a 4.98% return, which is significantly lower than FLEU's 10.02% return.

BIAHX

• 1D: 0.59%
• 1M: 3.31%
• 6M: -0.58%
• YTD: 4.98%
• 1Y: 12.99%
• 3Y*: 21.01%
• 5Y*: 12.50%
• 10Y*: 12.27%
• ALL TIME*: 9.84%

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)
BIAHX Brown Advisory - WMC Strategic European Equity Fund	$0.00	$0.00	$0.00
FLEU Franklin FTSE Eurozone ETF	$166.73K	$205.09K	$250.17K

BIAHX vs. FLEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIAHX Brown Advisory - WMC Strategic European Equity Fund	4.98%	47.26%	10.85%	19.36%	-11.95%	14.54%	11.34%	29.43%	-16.60%	1.63%
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 BIAHX and FLEU is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.75

The correlation between BIAHX and FLEU has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

Return for Risk

BIAHX vs. FLEU — Risk / Return Rank

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

BIAHX

BIAHX Risk / Return Rank: 25
BIAHX Sharpe Ratio Rank: 28
BIAHX Sortino Ratio Rank: 29
BIAHX Omega Ratio Rank: 28
BIAHX Calmar Ratio Rank: 21
BIAHX Martin Ratio Rank: 19

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.

BIAHX vs. FLEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory - WMC Strategic European Equity Fund (BIAHX) 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.

	BIAHX	FLEU	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.32	-0.40
Sortino ratio: Return per unit of downside risk	1.42	1.93	-0.51
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	0.99	1.74	-0.75
Martin ratio: Return relative to average drawdown	2.60	6.33	-3.73

BIAHX vs. FLEU - Sharpe Ratio Comparison

The current BIAHX Sharpe Ratio is 0.92, which is lower than the FLEU Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of BIAHX 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

BIAHX vs. FLEU - Drawdown Comparison

The maximum BIAHX drawdown since its inception was -34.90%, roughly equal to the maximum FLEU drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for BIAHX and FLEU.

Drawdown Indicators

	BIAHX	FLEU	Difference
Max Drawdown Largest peak-to-trough decline	-34.90%	-33.94%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	-13.41%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-15.67%	+2.49%
Max Drawdown (5Y) Largest decline over 5 years	-30.95%	-18.67%	-12.28%
Max Drawdown (10Y) Largest decline over 10 years	-34.90%	—	—
Current Drawdown Current decline from peak	-3.10%	-0.32%	-2.78%
Average Drawdown Average peak-to-trough decline	-6.03%	-4.65%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.00%	3.67%	+1.33%

Volatility

BIAHX vs. FLEU - Volatility Comparison

The current volatility for Brown Advisory - WMC Strategic European Equity Fund (BIAHX) is 4.07%, while Franklin FTSE Eurozone ETF (FLEU) has a volatility of 4.77%. This indicates that BIAHX experiences smaller price fluctuations and is considered to be less risky than FLEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIAHX	FLEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	4.77%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	12.14%	15.47%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	17.78%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	16.53%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	18.25%	-1.36%

BIAHX vs. FLEU - Expense Ratio Comparison

BIAHX has a 1.19% expense ratio, which is higher than FLEU's 0.09% expense ratio.

Dividends

BIAHX vs. FLEU - Dividend Comparison

BIAHX's dividend yield for the trailing twelve months is around 7.24%, more than FLEU's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIAHX Brown Advisory - WMC Strategic European Equity Fund	7.24%	7.60%	5.16%	1.13%	2.66%	9.72%	6.39%	9.78%	12.12%	0.83%	1.19%
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%

Frequently Asked Questions

Can I hold both BIAHX and FLEU in my portfolio?

BIAHX and FLEU have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIAHX or FLEU?

FLEU has higher volatility (4.77%) compared to BIAHX (4.07%). In terms of maximum drawdown, BIAHX dropped -34.90% vs FLEU's -33.94%.

Which has better risk-adjusted returns?

FLEU currently has the higher Sharpe Ratio (1.32 vs 0.92), 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.