DIEM vs. FGDL

Last updated Jun 4, 2026

DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index, while FGDL is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 3 years, DIEM returned 28.35%/yr vs 31.32%/yr for FGDL. At a 0.37 correlation, their price movements are largely independent. DIEM charges 0.19%/yr vs 0.15%/yr for FGDL.

Performance

DIEM vs. FGDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Franklin Responsibly Sourced Gold ETF (FGDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIEM achieves a 32.78% return, which is significantly higher than FGDL's 2.43% return.

DIEM

• 1D: -1.37%
• 1M: 12.08%
• YTD: 32.78%
• 6M: 35.57%
• 1Y: 60.54%
• 3Y*: 28.35%
• 5Y*: 11.49%
• 10Y*: —

FGDL

• 1D: -1.09%
• 1M: -1.94%
• YTD: 2.43%
• 6M: 4.89%
• 1Y: 31.70%
• 3Y*: 31.32%
• 5Y*: —
• 10Y*: —

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

DIEM vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	32.78%	30.81%	12.29%	15.41%	-1.08%
FGDL Franklin Responsibly Sourced Gold ETF	2.43%	64.15%	27.31%	12.92%	0.91%

Correlation

The correlation between DIEM and FGDL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022	0.37

Return for Risk

DIEM vs. FGDL — Risk / Return Rank

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

DIEM

DIEM Risk / Return Rank: 90
DIEM Sharpe Ratio Rank: 92
DIEM Sortino Ratio Rank: 90
DIEM Omega Ratio Rank: 92
DIEM Calmar Ratio Rank: 87
DIEM Martin Ratio Rank: 89

FGDL

FGDL Risk / Return Rank: 31
FGDL Sharpe Ratio Rank: 32
FGDL Sortino Ratio Rank: 29
FGDL Omega Ratio Rank: 35
FGDL Calmar Ratio Rank: 33
FGDL Martin Ratio Rank: 28

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.

DIEM vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

	DIEM	FGDL	Difference
Sharpe ratio Return per unit of total volatility	3.35	1.19	+2.16
Sortino ratio Return per unit of downside risk	4.26	1.57	+2.68
Omega ratio Gain probability vs. loss probability	1.62	1.24	+0.39
Calmar ratio Return relative to maximum drawdown	4.93	1.66	+3.28
Martin ratio Return relative to average drawdown	20.34	4.03	+16.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIEM vs. FGDL - Sharpe Ratio Comparison

The current DIEM Sharpe Ratio is 3.35, which is higher than the FGDL Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of DIEM and FGDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIEM	FGDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	1.19	+2.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.35	-0.80

Drawdowns

DIEM vs. FGDL - Drawdown Comparison

The maximum DIEM drawdown since its inception was -38.61%, which is greater than FGDL's maximum drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for DIEM and FGDL.

Drawdown Indicators

	DIEM	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-38.61%	-19.23%	-19.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.33%	-19.23%	+6.90%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-19.23%	+2.41%
Max Drawdown (5Y) Largest decline over 5 years	-33.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.61%	—	—
Current Drawdown Current decline from peak	-1.37%	-18.16%	+16.79%
Average Drawdown Average peak-to-trough decline	-9.72%	-3.83%	-5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	7.88%	-4.89%

Volatility

DIEM vs. FGDL - Volatility Comparison

Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) has a higher volatility of 8.52% compared to Franklin Responsibly Sourced Gold ETF (FGDL) at 5.61%. This indicates that DIEM's price experiences larger fluctuations and is considered to be riskier than FGDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIEM	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	5.61%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	15.91%	23.18%	-7.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.17%	26.78%	-8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	19.03%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	19.03%	-1.44%

DIEM vs. FGDL - Expense Ratio Comparison

DIEM has a 0.19% expense ratio, which is higher than FGDL's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DIEM vs. FGDL - Dividend Comparison

DIEM's dividend yield for the trailing twelve months is around 2.30%, while FGDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.30%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIEM and FGDL in my portfolio?

DIEM and FGDL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIEM or FGDL?

DIEM has higher volatility (8.52%) compared to FGDL (5.61%). In terms of maximum drawdown, DIEM dropped -38.61% vs FGDL's -19.23%.

Which ETF is better, DIEM or FGDL?

On 3-year performance, FGDL leads with 31.32% vs 28.35% for DIEM. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIEM or FGDL?

Over the 3-year period, FGDL has performed better with a 31.32% return vs 28.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIEM or FGDL?

FGDL is cheaper with a 0.15% expense ratio, compared with 0.19% for DIEM.

Which ETF pays a higher dividend yield, DIEM or FGDL?

DIEM has the higher dividend yield at 2.30%, compared with 0.00% for FGDL.

What is the main difference between DIEM and FGDL?

DIEM is categorized as Emerging Markets Diversified, while FGDL is Precious Metals. DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index, while FGDL tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 0.19% for DIEM and 0.15% for FGDL.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.35 vs 1.19), 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.