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EIRL vs. FLGR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EIRL vs. FLGR

Last updated Aug 4, 2026
Documentation

EIRL (iShares MSCI Ireland ETF) and FLGR (Franklin FTSE Germany ETF) are both Europe Equities funds - EIRL tracks the MSCI Ireland Investable Market 25/50 Index while FLGR tracks the FTSE Germany RIC Capped Index. Both are passively managed. Over the past 5 years, EIRL returned 8.34%/yr vs 7.67%/yr for FLGR. Their 0.72 correlation means they have sometimes moved together and sometimes differently. EIRL charges 0.49%/yr vs 0.09%/yr for FLGR.

Performance

EIRL vs. FLGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Ireland ETF (EIRL) and Franklin FTSE Germany ETF (FLGR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EIRL achieves a 10.04% return, which is significantly higher than FLGR's 3.94% return.

EIRL

1D
0.12%
1M
0.25%
6M
6.83%
YTD
10.04%
1Y
25.72%
3Y*
12.88%
5Y*
8.34%
10Y*
9.76%
ALL TIME*
9.90%

FLGR

1D
1.07%
1M
2.46%
6M
1.50%
YTD
3.94%
1Y
8.57%
3Y*
18.47%
5Y*
7.67%
10Y*
—
ALL TIME*
6.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EIRL

iShares MSCI Ireland ETF
$628.14K$449.36K$1.15M

FLGR

Franklin FTSE Germany ETF
$116.66K$114.16K$161.06K

EIRL vs. FLGR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EIRL
iShares MSCI Ireland ETF		10.04%28.82%-1.64%35.13%-18.83%13.72%9.63%28.15%-21.92%3.84%
FLGR
Franklin FTSE Germany ETF		3.94%36.67%10.63%24.22%-21.96%5.40%12.11%19.99%-21.50%-0.16%

Correlation

The correlation between EIRL and FLGR is 0.69, 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.

0.69

Correlation (3Y)
Balances recent behavior with more history.

0.70

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.72

The correlation between EIRL and FLGR has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

EIRL vs. FLGR - Sectors Allocation Comparison

Sectors
EIRL
FLGR

Financial Services

39.6%
22.4%

Consumer Defensive

19.5%
1.5%

Healthcare

10.9%
6.6%

Industrials

10.4%
30.4%

Consumer Cyclical

8.5%
7.7%

Basic Materials

4.3%
5.2%

Energy

4.3%

-

Utilities

4.3%
4.7%

Real Estate

2.0%
1.2%

Technology

0.2%
14.8%

Communication Services

0.0%
5.4%

Financial Services

EIRL
39.6%
FLGR
22.4%

Consumer Defensive

EIRL
19.5%
FLGR
1.5%

Healthcare

EIRL
10.9%
FLGR
6.6%

Industrials

EIRL
10.4%
FLGR
30.4%

Consumer Cyclical

EIRL
8.5%
FLGR
7.7%

Basic Materials

EIRL
4.3%
FLGR
5.2%

Energy

EIRL
4.3%
FLGR

-

Utilities

EIRL
4.3%
FLGR
4.7%

Real Estate

EIRL
2.0%
FLGR
1.2%

Technology

EIRL
0.2%
FLGR
14.8%

Communication Services

EIRL
0.0%
FLGR
5.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Ireland ETF

Franklin FTSE Germany ETF

Often compared with EIRL:
EIRL vs. EPOLEIRL vs. EUFNEIRL vs. EWQEIRL vs. EWIEIRL vs. EWPEIRL vs. ENZLEIRL vs. EWZS
Often compared with FLGR:
FLGR vs. EWGFLGR vs. FLEUFLGR vs. DAXFLGR vs. EWSFLGR vs. FLSWFLGR vs. FLTWFLGR vs. ZECP

Return for Risk

EIRL vs. FLGR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EIRL
EIRL Risk / Return Rank: 5555
Overall Rank
EIRL Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EIRL Sortino Ratio Rank: 6060
Sortino Ratio Rank
EIRL Omega Ratio Rank: 5959
Omega Ratio Rank
EIRL Calmar Ratio Rank: 4848
Calmar Ratio Rank
EIRL Martin Ratio Rank: 5151
Martin Ratio Rank
FLGR
FLGR Risk / Return Rank: 2222
Overall Rank
FLGR Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
FLGR Sortino Ratio Rank: 2222
Sortino Ratio Rank
FLGR Omega Ratio Rank: 2222
Omega Ratio Rank
FLGR Calmar Ratio Rank: 2121
Calmar Ratio Rank
FLGR Martin Ratio Rank: 2323
Martin Ratio Rank
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.

EIRL vs. FLGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Ireland ETF (EIRL) and Franklin FTSE Germany ETF (FLGR). 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.

EIRLFLGRDifference
Sharpe ratioReturn per unit of total volatility
1.44
0.49

+0.95

Sortino ratioReturn per unit of downside risk
2.13
0.80

+1.32

Omega ratioGain probability vs. loss probability

1.27

1.10

+0.17

Calmar ratioReturn relative to maximum drawdown

1.81

0.60

+1.21

Martin ratioReturn relative to average drawdown

6.05

1.74

+4.31

EIRL vs. FLGR - Sharpe Ratio Comparison

The current EIRL Sharpe Ratio is 1.44, which is higher than the FLGR Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of EIRL and FLGR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EIRL vs. FLGR - Drawdown Comparison

The maximum EIRL drawdown since its inception was -46.48%, roughly equal to the maximum FLGR drawdown of -46.21%. Use the drawdown chart below to compare losses from any high point for EIRL and FLGR.

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Drawdown Indicators

EIRLFLGRDifference

Max Drawdown

Largest peak-to-trough decline

-46.48%

-46.21%

-0.27%

Max Drawdown (1Y)

Largest decline over 1 year

-14.28%

-14.44%

+0.16%

Max Drawdown (3Y)

Largest decline over 3 years

-23.04%

-15.53%

-7.51%

Max Drawdown (5Y)

Largest decline over 5 years

-40.14%

-42.69%

+2.55%

Max Drawdown (10Y)

Largest decline over 10 years

-46.48%

—

—

Current Drawdown

Current decline from peak

-1.05%

-0.92%

-0.13%

Average Drawdown

Average peak-to-trough decline

-9.02%

-12.23%

+3.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

4.93%

-0.67%

Volatility

EIRL vs. FLGR - Volatility Comparison

The current volatility for iShares MSCI Ireland ETF (EIRL) is 4.26%, while Franklin FTSE Germany ETF (FLGR) has a volatility of 4.59%. This indicates that EIRL experiences smaller price fluctuations and is considered to be less risky than FLGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EIRLFLGRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

4.59%

-0.33%

Volatility (6M)

Calculated over the trailing 6-month period

15.30%

15.16%

+0.14%

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

17.55%

+0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.10%

20.37%

+0.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.20%

21.37%

-0.17%

EIRL vs. FLGR - Expense Ratio Comparison

EIRL has a 0.49% expense ratio, which is higher than FLGR's 0.09% expense ratio.

Dividends

EIRL vs. FLGR - Dividend Comparison

EIRL's dividend yield for the trailing twelve months is around 2.37%, less than FLGR's 3.27% yield.

PositionTTM20252024202320222021202020192018201720162015
EIRL
iShares MSCI Ireland ETF		2.37%2.71%2.56%1.00%1.13%0.82%0.50%2.11%1.52%1.44%1.34%1.70%
FLGR
Franklin FTSE Germany ETF		3.27%1.72%2.40%2.99%3.50%2.67%2.61%2.52%3.06%0.00%0.00%0.00%

Frequently Asked Questions

EIRL and FLGR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLGR has higher volatility (4.59%) compared to EIRL (4.26%). In terms of maximum drawdown, EIRL dropped -46.48% vs FLGR's -46.21%.

On 5-year performance, EIRL leads with 8.34% vs 7.67% for FLGR. On fees, FLGR is cheaper at 0.09% per year. On volatility, EIRL has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EIRL has performed better with a 8.34% return vs 7.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLGR is cheaper with a 0.09% expense ratio, compared with 0.49% for EIRL.

FLGR has the higher dividend yield at 3.27%, compared with 2.37% for EIRL.

EIRL tracks MSCI Ireland Investable Market 25/50 Index, while FLGR tracks FTSE Germany RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.49% for EIRL and 0.09% for FLGR.

EIRL currently has the higher Sharpe Ratio (1.44 vs 0.49), 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.

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