PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWU vs. FLGB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWU vs. FLGB

Last updated Jun 5, 2026

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 while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, EWU returned 10.86%/yr vs 10.79%/yr for FLGB. Their correlation of 0.95 suggests significant overlap in exposure. EWU charges 0.50%/yr vs 0.09%/yr for FLGB.

Performance

EWU vs. FLGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI United Kingdom ETF (EWU) 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, EWU achieves a 6.59% return, which is significantly higher than FLGB's 6.10% return.

EWU

1D
0.99%
1M
0.93%
YTD
6.59%
6M
10.05%
1Y
21.33%
3Y*
17.73%
5Y*
10.86%
10Y*
7.86%

FLGB

1D
1.10%
1M
0.70%
YTD
6.10%
6M
9.49%
1Y
20.40%
3Y*
18.21%
5Y*
10.79%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWU vs. FLGB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWU
iShares MSCI United Kingdom ETF		6.59%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%4.07%
FLGB
Franklin FTSE United Kingdom ETF		6.10%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 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

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

0.98

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

0.99

Correlation (All Time)
Calculated using the full available price history since Nov 7, 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

26.0%
24.2%

Consumer Defensive

14.2%
14.0%

Healthcare

13.9%
13.6%

Industrials

12.1%
14.2%

Energy

11.0%
11.8%

Basic Materials

9.3%
8.6%

Utilities

5.1%
5.3%

Consumer Cyclical

4.0%
4.4%

Communication Services

2.4%
2.6%

Technology

0.6%
0.7%

Real Estate

0.6%
0.7%

Financial Services

EWU
26.0%
FLGB
24.2%

Consumer Defensive

EWU
14.2%
FLGB
14.0%

Healthcare

EWU
13.9%
FLGB
13.6%

Industrials

EWU
12.1%
FLGB
14.2%

Energy

EWU
11.0%
FLGB
11.8%

Basic Materials

EWU
9.3%
FLGB
8.6%

Utilities

EWU
5.1%
FLGB
5.3%

Consumer Cyclical

EWU
4.0%
FLGB
4.4%

Communication Services

EWU
2.4%
FLGB
2.6%

Technology

EWU
0.6%
FLGB
0.7%

Real Estate

EWU
0.6%
FLGB
0.7%

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 United Kingdom ETF

Franklin FTSE United Kingdom ETF

Often compared with EWU:
EWU vs. EWUSEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. BNDWEWU vs. VOOEWU vs. VEA
Often compared with FLGB:
FLGB vs. FLAUFLGB vs. FLEEFLGB vs. IUKD.LFLGB vs. VFIAXFLGB vs. EUFNFLGB vs. HEDJFLGB vs. LVHI

Return for Risk

EWU vs. FLGB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWU
EWU Risk / Return Rank: 4444
Overall Rank
EWU Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 4343
Sortino Ratio Rank
EWU Omega Ratio Rank: 4141
Omega Ratio Rank
EWU Calmar Ratio Rank: 4444
Calmar Ratio Rank
EWU Martin Ratio Rank: 4848
Martin Ratio Rank
FLGB
FLGB Risk / Return Rank: 4242
Overall Rank
FLGB Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
FLGB Sortino Ratio Rank: 4141
Sortino Ratio Rank
FLGB Omega Ratio Rank: 4141
Omega Ratio Rank
FLGB Calmar Ratio Rank: 4141
Calmar Ratio Rank
FLGB Martin Ratio Rank: 4545
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.

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.

EWUFLGBDifference
Sharpe ratioReturn per unit of total volatility
1.49
1.44

+0.05

Sortino ratioReturn per unit of downside risk
2.12
2.06

+0.05

Omega ratioGain probability vs. loss probability

1.26

1.26

+0.01

Calmar ratioReturn relative to maximum drawdown

2.16

2.00

+0.16

Martin ratioReturn relative to average drawdown

7.80

7.31

+0.49

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWU vs. FLGB - Sharpe Ratio Comparison

The current EWU Sharpe Ratio is 1.49, which is comparable to the FLGB Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of EWU 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.

Loading charts...

Sharpe Ratios by Period

EWUFLGBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

1.44

+0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.65

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.42

-0.16

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.

Loading charts...

Drawdown Indicators

EWUFLGBDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-3.70%

-3.81%

+0.11%

Average Drawdown

Average peak-to-trough decline

-14.16%

-6.69%

-7.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

2.80%

-0.06%

Volatility

EWU vs. FLGB - Volatility Comparison

iShares MSCI United Kingdom ETF (EWU) and Franklin FTSE United Kingdom ETF (FLGB) have volatilities of 5.64% and 5.60%, 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.

Loading charts...

Volatility by Period

EWUFLGBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

5.60%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

12.33%

12.10%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

14.40%

14.21%

+0.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.43%

16.63%

-0.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.84%

18.97%

-0.13%

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 3.50%, more than FLGB's 3.29% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.50%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		3.29%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.

EWU has higher volatility (5.64%) compared to FLGB (5.60%). In terms of maximum drawdown, EWU dropped -63.99% vs FLGB's -42.61%.

On 5-year performance, EWU leads with 10.86% vs 10.79% 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.

Over the 5-year period, EWU has performed better with a 10.86% return vs 10.79%. 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 3.50%, compared with 3.29% for FLGB.

EWU tracks MSCI United Kingdom 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 EWU and 0.09% for FLGB.

EWU currently has the higher Sharpe Ratio (1.49 vs 1.44), 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.

Portfolio Optimizer

Find the right allocation for EWU and FLGB

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer