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EWUS vs. FLGB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWUS vs. FLGB

Last updated Jun 5, 2026

EWUS (iShares MSCI United Kingdom Small-Cap ETF) and FLGB (Franklin FTSE United Kingdom ETF) are both Europe Equities funds - EWUS tracks the MSCI United Kingdom Small Cap Index while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, EWUS returned 0.18%/yr vs 10.79%/yr for FLGB. A 0.79 correlation means they provide meaningful diversification when combined. EWUS charges 0.59%/yr vs 0.09%/yr for FLGB.

Performance

EWUS vs. FLGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI United Kingdom Small-Cap ETF (EWUS) 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, EWUS achieves a 2.92% return, which is significantly lower than FLGB's 6.10% return.

EWUS

1D
1.69%
1M
2.59%
YTD
2.92%
6M
6.42%
1Y
9.64%
3Y*
13.01%
5Y*
0.18%
10Y*
3.99%

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)

EWUS vs. FLGB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWUS
iShares MSCI United Kingdom Small-Cap ETF		2.92%25.13%3.55%15.41%-31.19%12.55%-2.58%35.16%-20.16%4.20%
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 EWUS and FLGB is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.82

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

0.84

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2017

0.79

The correlation between EWUS and FLGB has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

EWUS vs. FLGB - Sectors Allocation Comparison

Sectors
EWUS
FLGB

Financial Services

22.9%
24.2%

Industrials

20.7%
14.2%

Consumer Cyclical

14.6%
4.4%

Real Estate

10.1%
0.7%

Basic Materials

6.7%
8.6%

Communication Services

5.7%
2.6%

Consumer Defensive

4.6%
14.0%

Technology

4.3%
0.7%

Energy

3.3%
11.8%

Healthcare

3.2%
13.6%

Utilities

3.0%
5.3%

Financial Services

EWUS
22.9%
FLGB
24.2%

Industrials

EWUS
20.7%
FLGB
14.2%

Consumer Cyclical

EWUS
14.6%
FLGB
4.4%

Real Estate

EWUS
10.1%
FLGB
0.7%

Basic Materials

EWUS
6.7%
FLGB
8.6%

Communication Services

EWUS
5.7%
FLGB
2.6%

Consumer Defensive

EWUS
4.6%
FLGB
14.0%

Technology

EWUS
4.3%
FLGB
0.7%

Energy

EWUS
3.3%
FLGB
11.8%

Healthcare

EWUS
3.2%
FLGB
13.6%

Utilities

EWUS
3.0%
FLGB
5.3%

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 Small-Cap ETF

Franklin FTSE United Kingdom ETF

Often compared with EWUS:
EWUS vs. EWUEWUS vs. HSCZEWUS vs. EWZSEWUS vs. SCJEWUS vs. SCZEWUS vs. SMINEWUS vs. QQQ
Often compared with FLGB:
FLGB vs. EWUFLGB vs. FLAUFLGB vs. FLEEFLGB vs. IUKD.LFLGB vs. VFIAXFLGB vs. EUFNFLGB vs. HEDJ

Return for Risk

EWUS vs. FLGB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWUS
EWUS Risk / Return Rank: 1818
Overall Rank
EWUS Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
EWUS Sortino Ratio Rank: 1919
Sortino Ratio Rank
EWUS Omega Ratio Rank: 1818
Omega Ratio Rank
EWUS Calmar Ratio Rank: 1717
Calmar Ratio Rank
EWUS Martin Ratio Rank: 1919
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.

EWUS vs. FLGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom Small-Cap ETF (EWUS) 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.

EWUSFLGBDifference
Sharpe ratioReturn per unit of total volatility
0.54
1.44

-0.90

Sortino ratioReturn per unit of downside risk
0.92
2.06

-1.15

Omega ratioGain probability vs. loss probability

1.10

1.26

-0.15

Calmar ratioReturn relative to maximum drawdown

0.64

2.00

-1.36

Martin ratioReturn relative to average drawdown

2.08

7.31

-5.24

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

EWUS vs. FLGB - Sharpe Ratio Comparison

The current EWUS Sharpe Ratio is 0.54, which is lower than the FLGB Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of EWUS 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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Sharpe Ratios by Period

EWUSFLGBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.54

1.44

-0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.01

0.65

-0.64

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.18

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.42

-0.12

Drawdowns

EWUS vs. FLGB - Drawdown Comparison

The maximum EWUS drawdown since its inception was -49.33%, which is greater than FLGB's maximum drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for EWUS and FLGB.

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Drawdown Indicators

EWUSFLGBDifference

Max Drawdown

Largest peak-to-trough decline

-49.33%

-42.61%

-6.72%

Max Drawdown (1Y)

Largest decline over 1 year

-15.21%

-10.26%

-4.95%

Max Drawdown (3Y)

Largest decline over 3 years

-19.84%

-13.13%

-6.71%

Max Drawdown (5Y)

Largest decline over 5 years

-48.14%

-25.90%

-22.24%

Max Drawdown (10Y)

Largest decline over 10 years

-49.33%

—

—

Current Drawdown

Current decline from peak

-4.34%

-3.81%

-0.53%

Average Drawdown

Average peak-to-trough decline

-13.08%

-6.69%

-6.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.66%

2.80%

+1.86%

Volatility

EWUS vs. FLGB - Volatility Comparison

iShares MSCI United Kingdom Small-Cap ETF (EWUS) has a higher volatility of 6.23% compared to Franklin FTSE United Kingdom ETF (FLGB) at 5.60%. This indicates that EWUS'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

EWUSFLGBDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.23%

5.60%

+0.63%

Volatility (6M)

Calculated over the trailing 6-month period

14.61%

12.10%

+2.51%

Volatility (1Y)

Calculated over the trailing 1-year period

17.83%

14.21%

+3.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.13%

16.63%

+4.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.59%

18.97%

+3.62%

EWUS vs. FLGB - Expense Ratio Comparison

EWUS has a 0.59% expense ratio, which is higher than FLGB's 0.09% expense ratio.

Dividends

EWUS vs. FLGB - Dividend Comparison

EWUS's dividend yield for the trailing twelve months is around 3.49%, more than FLGB's 3.29% yield.

PositionTTM20252024202320222021202020192018201720162015
EWUS
iShares MSCI United Kingdom Small-Cap ETF		3.49%3.59%3.67%2.88%2.03%3.54%1.97%2.59%3.53%2.61%3.18%2.85%
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

EWUS and FLGB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWUS has higher volatility (6.23%) compared to FLGB (5.60%). In terms of maximum drawdown, EWUS dropped -49.33% vs FLGB's -42.61%.

On 5-year performance, FLGB leads with 10.79% vs 0.18% for EWUS. On fees, FLGB is cheaper at 0.09% per year. On volatility, FLGB has been the lower-risk option at 5.60%. 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 10.79% return vs 0.18%. 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 0.59% for EWUS.

EWUS has the higher dividend yield at 3.49%, compared with 3.29% for FLGB.

EWUS tracks MSCI United Kingdom Small Cap Index, while FLGB tracks FTSE UK RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.59% for EWUS and 0.09% for FLGB.

FLGB currently has the higher Sharpe Ratio (1.44 vs 0.54), 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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