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EWQ vs. FLGB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWQ vs. FLGB

Last updated Jul 16, 2026
Documentation

EWQ (iShares MSCI France ETF) and FLGB (Franklin FTSE United Kingdom ETF) are both Europe Equities funds - EWQ tracks the MSCI France Index while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, EWQ returned 7.67%/yr vs 12.13%/yr for FLGB. Their correlation of 0.80 suggests significant overlap in exposure. EWQ charges 0.50%/yr vs 0.09%/yr for FLGB.

Performance

EWQ vs. FLGB - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, EWQ achieves a 3.48% return, which is significantly lower than FLGB's 7.99% return.

EWQ

1D
0.95%
1M
-0.61%
6M
1.50%
YTD
3.48%
1Y
9.94%
3Y*
7.98%
5Y*
7.67%
10Y*
9.81%

FLGB

1D
1.01%
1M
1.75%
6M
5.00%
YTD
7.99%
1Y
21.83%
3Y*
17.62%
5Y*
12.13%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWQ vs. FLGB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWQ
iShares MSCI France ETF		3.48%28.90%-5.63%21.71%-12.05%21.43%2.86%26.69%-12.90%-0.11%
FLGB
Franklin FTSE United Kingdom ETF		7.99%33.73%8.77%14.33%-6.00%17.14%-9.47%23.23%-11.60%1.12%

Correlation

The correlation between EWQ and FLGB is 0.77, 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

0.77

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.82

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

0.80

The correlation between EWQ and FLGB has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

EWQ vs. FLGB - Sectors Allocation Comparison

Sectors
EWQ
FLGB

Industrials

33.3%
13.4%

Financial Services

13.3%
27.5%

Consumer Cyclical

11.6%
5.1%

Healthcare

8.6%
13.4%

Consumer Defensive

8.5%
14.2%

Basic Materials

7.3%
8.1%

Energy

6.9%
9.5%

Technology

3.4%
0.6%

Communication Services

2.7%
2.4%

Utilities

2.5%
4.7%

Real Estate

1.3%
0.9%

Industrials

EWQ
33.3%
FLGB
13.4%

Financial Services

EWQ
13.3%
FLGB
27.5%

Consumer Cyclical

EWQ
11.6%
FLGB
5.1%

Healthcare

EWQ
8.6%
FLGB
13.4%

Consumer Defensive

EWQ
8.5%
FLGB
14.2%

Basic Materials

EWQ
7.3%
FLGB
8.1%

Energy

EWQ
6.9%
FLGB
9.5%

Technology

EWQ
3.4%
FLGB
0.6%

Communication Services

EWQ
2.7%
FLGB
2.4%

Utilities

EWQ
2.5%
FLGB
4.7%

Real Estate

EWQ
1.3%
FLGB
0.9%

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 France ETF

Franklin FTSE United Kingdom ETF

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Return for Risk

EWQ vs. FLGB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWQ
EWQ Risk / Return Rank: 2020
Overall Rank
EWQ Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
EWQ Sortino Ratio Rank: 2020
Sortino Ratio Rank
EWQ Omega Ratio Rank: 1919
Omega Ratio Rank
EWQ Calmar Ratio Rank: 2020
Calmar Ratio Rank
EWQ Martin Ratio Rank: 2222
Martin Ratio Rank
FLGB
FLGB Risk / Return Rank: 5353
Overall Rank
FLGB Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
FLGB Sortino Ratio Rank: 5656
Sortino Ratio Rank
FLGB Omega Ratio Rank: 5353
Omega Ratio Rank
FLGB Calmar Ratio Rank: 5252
Calmar Ratio Rank
FLGB Martin Ratio Rank: 5252
Martin Ratio Rank
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.

EWQ vs. FLGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI France ETF (EWQ) 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.

EWQFLGBDifference
Sharpe ratioReturn per unit of total volatility
0.57
1.50

-0.94

Sortino ratioReturn per unit of downside risk
0.91
2.18

-1.27

Omega ratioGain probability vs. loss probability

1.11

1.27

-0.16

Calmar ratioReturn relative to maximum drawdown

0.72

2.14

-1.41

Martin ratioReturn relative to average drawdown

2.14

7.16

-5.02

EWQ vs. FLGB - Sharpe Ratio Comparison

The current EWQ Sharpe Ratio is 0.57, which is lower than the FLGB Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of EWQ 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.

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Drawdowns

EWQ vs. FLGB - Drawdown Comparison

The maximum EWQ drawdown since its inception was -61.41%, which is greater than FLGB's maximum drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for EWQ and FLGB.

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Drawdown Indicators

EWQFLGBDifference

Max Drawdown

Largest peak-to-trough decline

-61.41%

-42.61%

-18.80%

Max Drawdown (1Y)

Largest decline over 1 year

-13.80%

-10.26%

-3.54%

Max Drawdown (3Y)

Largest decline over 3 years

-15.16%

-13.13%

-2.03%

Max Drawdown (5Y)

Largest decline over 5 years

-31.46%

-25.90%

-5.56%

Max Drawdown (10Y)

Largest decline over 10 years

-39.23%

—

—

Current Drawdown

Current decline from peak

-3.71%

-2.11%

-1.60%

Average Drawdown

Average peak-to-trough decline

-16.03%

-6.65%

-9.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.67%

3.06%

+1.61%

Volatility

EWQ vs. FLGB - Volatility Comparison

iShares MSCI France ETF (EWQ) has a higher volatility of 4.57% compared to Franklin FTSE United Kingdom ETF (FLGB) at 3.93%. This indicates that EWQ's price experiences larger fluctuations and is considered to be riskier than FLGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWQFLGBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

3.93%

+0.64%

Volatility (6M)

Calculated over the trailing 6-month period

14.60%

12.63%

+1.97%

Volatility (1Y)

Calculated over the trailing 1-year period

17.70%

14.61%

+3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.86%

16.62%

+3.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.38%

18.92%

+1.46%

EWQ vs. FLGB - Expense Ratio Comparison

EWQ has a 0.50% expense ratio, which is higher than FLGB's 0.09% expense ratio.

Dividends

EWQ vs. FLGB - Dividend Comparison

EWQ's dividend yield for the trailing twelve months is around 2.89%, less than FLGB's 2.94% yield.

PositionTTM20252024202320222021202020192018201720162015
EWQ
iShares MSCI France ETF		2.89%2.63%3.31%2.73%3.23%3.79%1.02%2.44%2.90%1.90%2.84%2.25%
FLGB
Franklin FTSE United Kingdom ETF		2.94%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

EWQ and FLGB have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWQ has higher volatility (4.57%) compared to FLGB (3.93%). In terms of maximum drawdown, EWQ dropped -61.41% vs FLGB's -42.61%.

On 5-year performance, FLGB leads with 12.13% vs 7.67% for EWQ. On fees, FLGB is cheaper at 0.09% per year. On volatility, FLGB has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLGB has performed better with a 12.13% return vs 7.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLGB is cheaper with a 0.09% expense ratio, compared with 0.50% for EWQ.

FLGB has the higher dividend yield at 2.94%, compared with 2.89% for EWQ.

EWQ tracks MSCI France Index, while FLGB tracks FTSE UK RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.50% for EWQ and 0.09% for FLGB.

FLGB currently has the higher Sharpe Ratio (1.50 vs 0.57), 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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