EZBC vs. FLBL

Last updated Apr 2, 2026

Compare and contrast key facts about Franklin Bitcoin ETF (EZBC) and Franklin Liberty Senior Loan ETF (FLBL).

EZBC and FLBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZBC is a passively managed fund by Franklin Templeton that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 11, 2024. FLBL is an actively managed fund by Franklin Templeton. It was launched on May 30, 2018.

Performance

EZBC vs. FLBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and Franklin Liberty Senior Loan ETF (FLBL). The values are adjusted to include any dividend payments, if applicable.

EZBC vs. FLBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-22.09%	-6.56%	100.18%
FLBL Franklin Liberty Senior Loan ETF	-0.69%	3.59%	8.24%

Returns By Period

In the year-to-date period, EZBC achieves a -22.09% return, which is significantly lower than FLBL's -0.69% return.

EZBC

• 1D: 0.59%
• 1M: -1.43%
• YTD: -22.09%
• 6M: -42.07%
• 1Y: -19.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLBL

• 1D: 0.07%
• 1M: 1.52%
• YTD: -0.69%
• 6M: -0.66%
• 1Y: 2.75%
• 3Y*: 6.85%
• 5Y*: 5.21%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EZBC vs. FLBL - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is lower than FLBL's 0.45% expense ratio.

FLBL

Franklin Liberty Senior Loan ETF

EZBC

Franklin Bitcoin ETF

Return for Risk

EZBC vs. FLBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EZBC

EZBC Risk / Return Rank: 6
EZBC Sharpe Ratio Rank: 5
EZBC Sortino Ratio Rank: 5
EZBC Omega Ratio Rank: 6
EZBC Calmar Ratio Rank: 6
EZBC Martin Ratio Rank: 6

FLBL

FLBL Risk / Return Rank: 32
FLBL Sharpe Ratio Rank: 32
FLBL Sortino Ratio Rank: 30
FLBL Omega Ratio Rank: 39
FLBL Calmar Ratio Rank: 31
FLBL Martin Ratio Rank: 30

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.

EZBC vs. FLBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and Franklin Liberty Senior Loan ETF (FLBL). 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.

	EZBC	FLBL	Difference
Sharpe ratio Return per unit of total volatility	-0.44	0.64	-1.09
Sortino ratio Return per unit of downside risk	-0.37	0.93	-1.30
Omega ratio Gain probability vs. loss probability	0.96	1.16	-0.21
Calmar ratio Return relative to maximum drawdown	-0.35	0.79	-1.15
Martin ratio Return relative to average drawdown	-0.75	2.63	-3.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZBC vs. FLBL - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -0.44, which is lower than the FLBL Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of EZBC and FLBL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EZBC	FLBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	0.64	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.77	-0.41

Correlation

The correlation between EZBC and FLBL is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EZBC vs. FLBL - Dividend Comparison

EZBC has not paid dividends to shareholders, while FLBL's dividend yield for the trailing twelve months is around 7.46%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLBL Franklin Liberty Senior Loan ETF	7.46%	7.24%	8.05%	8.37%	5.53%	3.57%	3.22%	3.97%	2.21%

Drawdowns

EZBC vs. FLBL - Drawdown Comparison

The maximum EZBC drawdown since its inception was -49.37%, which is greater than FLBL's maximum drawdown of -19.52%. Use the drawdown chart below to compare losses from any high point for EZBC and FLBL.

Drawdown Indicators

	EZBC	FLBL	Difference
Max Drawdown Largest peak-to-trough decline	-49.37%	-19.52%	-29.85%
Max Drawdown (1Y) Largest decline over 1 year	-49.37%	-3.26%	-46.11%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.80%	—
Current Drawdown Current decline from peak	-45.77%	-1.49%	-44.28%
Average Drawdown Average peak-to-trough decline	-14.18%	-1.01%	-13.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.25%	1.00%	+22.25%

Volatility

EZBC vs. FLBL - Volatility Comparison

Franklin Bitcoin ETF (EZBC) has a higher volatility of 13.02% compared to Franklin Liberty Senior Loan ETF (FLBL) at 1.11%. This indicates that EZBC's price experiences larger fluctuations and is considered to be riskier than FLBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	FLBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.02%	1.11%	+11.91%
Volatility (6M) Calculated over the trailing 6-month period	36.81%	2.23%	+34.58%
Volatility (1Y) Calculated over the trailing 1-year period	45.37%	4.29%	+41.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.08%	3.88%	+47.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.08%	5.77%	+45.31%