DBEZ vs. FLGB

Last updated Jul 17, 2026

DBEZ (Xtrackers MSCI Eurozone Hedged Equity ETF) and FLGB (Franklin FTSE United Kingdom ETF) are both Europe Equities funds - DBEZ tracks the MSCI EMU IMI 100% Hedged to USD Net Variant while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, DBEZ returned 12.55%/yr vs 12.22%/yr for FLGB. A 0.75 correlation means they provide meaningful diversification when combined. DBEZ charges 0.47%/yr vs 0.09%/yr for FLGB.

Performance

DBEZ vs. FLGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) and Franklin FTSE United Kingdom ETF (FLGB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEZ achieves a 12.12% return, which is significantly higher than FLGB's 8.41% return.

DBEZ

• 1D: -0.49%
• 1M: -0.23%
• 6M: 7.82%
• YTD: 12.12%
• 1Y: 22.19%
• 3Y*: 17.42%
• 5Y*: 12.55%
• 10Y*: 12.18%

FLGB

• 1D: 0.39%
• 1M: 1.52%
• 6M: 5.84%
• YTD: 8.41%
• 1Y: 21.54%
• 3Y*: 17.82%
• 5Y*: 12.22%
• 10Y*: —

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

DBEZ vs. FLGB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF	12.12%	26.14%	9.51%	21.78%	-10.13%	23.52%	0.36%	29.94%	-10.81%	-2.93%
FLGB Franklin FTSE United Kingdom ETF	8.41%	33.73%	8.77%	14.33%	-6.00%	17.14%	-9.47%	23.23%	-11.60%	1.12%

Correlation

The correlation between DBEZ and FLGB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.75

The correlation between DBEZ and FLGB has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

DBEZ vs. FLGB - Sectors Allocation Comparison

Sectors	DBEZ	FLGB
Financial Services	23.3%	27.5%
Industrials	20.4%	13.4%
Technology	16.0%	0.6%
Consumer Cyclical	7.3%	5.1%
Utilities	6.0%	4.7%
Healthcare	5.7%	13.4%
Consumer Defensive	5.1%	14.2%
Basic Materials	4.4%	8.1%
Communication Services	4.4%	2.4%
Energy	3.4%	9.5%
Real Estate	1.2%	0.9%

Return for Risk

DBEZ vs. FLGB — Risk / Return Rank

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

DBEZ

DBEZ Risk / Return Rank: 54
DBEZ Sharpe Ratio Rank: 54
DBEZ Sortino Ratio Rank: 54
DBEZ Omega Ratio Rank: 53
DBEZ Calmar Ratio Rank: 49
DBEZ Martin Ratio Rank: 58

FLGB

FLGB Risk / Return Rank: 53
FLGB Sharpe Ratio Rank: 53
FLGB Sortino Ratio Rank: 55
FLGB Omega Ratio Rank: 52
FLGB Calmar Ratio Rank: 52
FLGB Martin Ratio Rank: 52

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.

DBEZ vs. FLGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) and Franklin FTSE United Kingdom ETF (FLGB). 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.

	DBEZ	FLGB	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.49	-0.01
Sortino ratio: Return per unit of downside risk	2.12	2.16	-0.03
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	2.02	2.11	-0.09
Martin ratio: Return relative to average drawdown	7.97	7.06	+0.91

DBEZ vs. FLGB - Sharpe Ratio Comparison

The current DBEZ Sharpe Ratio is 1.48, which is comparable to the FLGB Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of DBEZ and FLGB, 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

DBEZ vs. FLGB - Drawdown Comparison

The maximum DBEZ drawdown since its inception was -38.76%, smaller than the maximum FLGB drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for DBEZ and FLGB.

Drawdown Indicators

	DBEZ	FLGB	Difference
Max Drawdown Largest peak-to-trough decline	-38.76%	-42.61%	+3.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-10.26%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-15.59%	-13.13%	-2.46%
Max Drawdown (5Y) Largest decline over 5 years	-23.38%	-25.90%	+2.52%
Max Drawdown (10Y) Largest decline over 10 years	-38.76%	—	—
Current Drawdown Current decline from peak	-2.13%	-1.72%	-0.41%
Average Drawdown Average peak-to-trough decline	-5.76%	-6.65%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	3.06%	-0.27%

Volatility

DBEZ vs. FLGB - Volatility Comparison

Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) and Franklin FTSE United Kingdom ETF (FLGB) have volatilities of 3.86% and 3.86%, 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

	DBEZ	FLGB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.86%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.63%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	14.57%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	16.61%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	18.92%	-0.85%

DBEZ vs. FLGB - Expense Ratio Comparison

DBEZ has a 0.47% expense ratio, which is higher than FLGB's 0.09% expense ratio.

Dividends

DBEZ vs. FLGB - Dividend Comparison

DBEZ's dividend yield for the trailing twelve months is around 1.28%, less than FLGB's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF	1.28%	4.20%	0.62%	1.84%	1.68%	1.64%	1.99%	2.86%	2.56%	2.11%	3.42%	4.92%
FLGB Franklin FTSE United Kingdom ETF	2.93%	3.50%	4.42%	3.95%	4.23%	2.93%	2.67%	4.30%	3.92%	0.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBEZ and FLGB in my portfolio?

DBEZ and FLGB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEZ or FLGB?

FLGB has higher volatility (3.86%) compared to DBEZ (3.86%). In terms of maximum drawdown, DBEZ dropped -38.76% vs FLGB's -42.61%.

Which ETF is better, DBEZ or FLGB?

On 5-year performance, DBEZ leads with 12.55% vs 12.22% for FLGB. On fees, FLGB is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEZ or FLGB?

Over the 5-year period, DBEZ has performed better with a 12.55% return vs 12.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEZ or FLGB?

FLGB is cheaper with a 0.09% expense ratio, compared with 0.47% for DBEZ.

Which ETF pays a higher dividend yield, DBEZ or FLGB?

FLGB has the higher dividend yield at 2.93%, compared with 1.28% for DBEZ.

What is the main difference between DBEZ and FLGB?

DBEZ tracks MSCI EMU IMI 100% Hedged to USD Net Variant, while FLGB tracks FTSE UK RIC Capped Index. They also come from different issuers: Deutsche Bank and Franklin Templeton. Their fees differ too: 0.47% for DBEZ and 0.09% for FLGB.

Which has better risk-adjusted returns?

FLGB currently has the higher Sharpe Ratio (1.49 vs 1.48), 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.