EWU vs. FLGB
EWU (iShares MSCI United Kingdom ETF) and FLGB (Franklin FTSE United Kingdom ETF) are both Europe Equities funds - EWU tracks the MSCI United Kingdom Index (Net) while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, EWU returned 12.00%/yr vs 12.08%/yr for FLGB. Their correlation of 0.95 means they have usually moved in the same direction. EWU charges 0.50%/yr vs 0.09%/yr for FLGB.
Performance
EWU vs. FLGB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EWU having a 11.49% return and FLGB slightly higher at 11.65%.
EWU
- 1D
- 0.23%
- 1M
- 2.50%
- 6M
- 5.51%
- YTD
- 11.49%
- 1Y
- 24.30%
- 3Y*
- 18.84%
- 5Y*
- 12.00%
- 10Y*
- 8.54%
- ALL TIME*
- 6.08%
FLGB
- 1D
- 0.22%
- 1M
- 2.96%
- 6M
- 5.61%
- YTD
- 11.65%
- 1Y
- 24.09%
- 3Y*
- 19.36%
- 5Y*
- 12.08%
- 10Y*
- —
- ALL TIME*
- 8.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $58.72M | $68.87M | $65.85M | |
| $8.66M | $4.82M | $3.34M |
EWU vs. FLGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWU iShares MSCI United Kingdom ETF | 11.49% | 34.95% | 6.74% | 12.40% | -4.39% | 18.19% | -11.80% | 21.29% | -14.30% | 4.72% |
FLGB Franklin FTSE United Kingdom ETF | 11.65% | 33.73% | 8.77% | 14.33% | -6.00% | 17.14% | -9.47% | 23.23% | -11.60% | 1.12% |
Correlation
The correlation between EWU and FLGB is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | 0.95 |
The correlation between EWU and FLGB has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
EWU vs. FLGB - Sectors Allocation Comparison
Sectors
EWU
FLGB
Financial Services
Industrials
Consumer Defensive
Healthcare
Energy
Basic Materials
Utilities
Consumer Cyclical
Communication Services
Real Estate
Technology
Financial Services
EWU
FLGB
Industrials
EWU
FLGB
Consumer Defensive
EWU
FLGB
Healthcare
EWU
FLGB
Energy
EWU
FLGB
Basic Materials
EWU
FLGB
Utilities
EWU
FLGB
Consumer Cyclical
EWU
FLGB
Communication Services
EWU
FLGB
Real Estate
EWU
FLGB
Technology
EWU
FLGB
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Return for Risk
EWU vs. FLGB — Risk / Return Rank
EWU
FLGB
EWU vs. FLGB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom ETF (EWU) 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.
| EWU | FLGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.36 | +0.10 |
| Martin ratioReturn relative to average drawdown | 8.07 | 7.91 | +0.16 |
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Drawdowns
EWU vs. FLGB - Drawdown Comparison
The maximum EWU drawdown since its inception was -63.99%, which is greater than FLGB's maximum drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for EWU and FLGB.
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Drawdown Indicators
| EWU | FLGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.99% | -42.61% | -21.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -10.26% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -12.63% | -13.13% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -24.91% | -25.90% | +0.99% |
Max Drawdown (10Y)Largest decline over 10 years | -43.33% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -0.69% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -14.10% | -6.61% | -7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 3.05% | -0.03% |
Volatility
EWU vs. FLGB - Volatility Comparison
The current volatility for iShares MSCI United Kingdom ETF (EWU) is 3.70%, while Franklin FTSE United Kingdom ETF (FLGB) has a volatility of 3.96%. This indicates that EWU experiences smaller price fluctuations and is considered to be less risky 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
| EWU | FLGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 3.96% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 12.88% | 12.79% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.95% | 14.77% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.39% | 16.59% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.90% | -0.67% |
EWU vs. FLGB - Expense Ratio Comparison
EWU has a 0.50% expense ratio, which is higher than FLGB's 0.09% expense ratio.
Dividends
EWU vs. FLGB - Dividend Comparison
EWU's dividend yield for the trailing twelve months is around 3.09%, more than FLGB's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWU iShares MSCI United Kingdom ETF | 3.09% | 3.73% | 4.16% | 4.14% | 3.43% | 4.35% | 2.48% | 4.13% | 4.98% | 3.91% | 3.97% | 4.11% |
FLGB Franklin FTSE United Kingdom ETF | 2.84% | 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
With a correlation of 0.98, EWU and FLGB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FLGB has higher volatility (3.96%) compared to EWU (3.70%). In terms of maximum drawdown, EWU dropped -63.99% vs FLGB's -42.61%.
On 5-year performance, FLGB leads with 12.08% vs 12.00% for EWU. On fees, FLGB is cheaper at 0.09% per year. On volatility, EWU has been the lower-risk option at 3.70%. 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 12.08% return vs 12.00%. 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 EWU.
EWU has the higher dividend yield at 3.09%, compared with 2.84% for FLGB.
EWU tracks MSCI United Kingdom Index (Net), 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 EWU and 0.09% for FLGB.
FLGB currently has the higher Sharpe Ratio (1.64 vs 1.63), 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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