FCEUX vs. SHAPX

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) and ClearBridge Appreciation Fund (SHAPX).

FCEUX is managed by Franklin Templeton. It was launched on Aug 1, 2019. SHAPX is managed by Franklin Templeton. It was launched on Mar 10, 1970.

Performance

FCEUX vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

FCEUX vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCEUX Franklin U.S. Core Equity (IU) Fund Advisor	-7.05%	18.76%	31.47%	22.29%	-14.71%	31.00%	19.13%	7.05%
SHAPX ClearBridge Appreciation Fund	-6.24%	14.32%	22.37%	19.50%	-12.56%	23.52%	14.53%	8.05%

Returns By Period

In the year-to-date period, FCEUX achieves a -7.05% return, which is significantly lower than SHAPX's -6.24% return.

FCEUX

• 1D: -0.22%
• 1M: -7.56%
• YTD: -7.05%
• 6M: -3.58%
• 1Y: 15.83%
• 3Y*: 18.48%
• 5Y*: 13.13%
• 10Y*: —

SHAPX

• 1D: -0.06%
• 1M: -7.91%
• YTD: -6.24%
• 6M: -5.30%
• 1Y: 10.69%
• 3Y*: 14.58%
• 5Y*: 10.06%
• 10Y*: 11.99%

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

FCEUX vs. SHAPX - Expense Ratio Comparison

FCEUX has a 0.00% expense ratio, which is lower than SHAPX's 0.93% expense ratio.

SHAPX

ClearBridge Appreciation Fund

FCEUX

Franklin U.S. Core Equity (IU) Fund Advisor

Return for Risk

FCEUX vs. SHAPX — Risk / Return Rank

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

FCEUX

FCEUX Risk / Return Rank: 53
FCEUX Sharpe Ratio Rank: 48
FCEUX Sortino Ratio Rank: 54
FCEUX Omega Ratio Rank: 53
FCEUX Calmar Ratio Rank: 48
FCEUX Martin Ratio Rank: 62

SHAPX

SHAPX Risk / Return Rank: 35
SHAPX Sharpe Ratio Rank: 32
SHAPX Sortino Ratio Rank: 34
SHAPX Omega Ratio Rank: 37
SHAPX Calmar Ratio Rank: 32
SHAPX Martin Ratio Rank: 40

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.

FCEUX vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) and ClearBridge Appreciation Fund (SHAPX). 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.

	FCEUX	SHAPX	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.72	+0.22
Sortino ratio Return per unit of downside risk	1.46	1.13	+0.33
Omega ratio Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio Return relative to maximum drawdown	1.19	0.89	+0.30
Martin ratio Return relative to average drawdown	5.93	4.11	+1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCEUX vs. SHAPX - Sharpe Ratio Comparison

The current FCEUX Sharpe Ratio is 0.94, which is higher than the SHAPX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of FCEUX and SHAPX, 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

	FCEUX	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.72	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.68	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.77	0.00

Correlation

The correlation between FCEUX and SHAPX is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCEUX vs. SHAPX - Dividend Comparison

FCEUX's dividend yield for the trailing twelve months is around 3.92%, less than SHAPX's 15.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCEUX Franklin U.S. Core Equity (IU) Fund Advisor	3.92%	3.64%	8.90%	1.45%	8.08%	8.52%	2.20%	0.39%	0.00%	0.00%	0.00%	0.00%
SHAPX ClearBridge Appreciation Fund	15.01%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Drawdowns

FCEUX vs. SHAPX - Drawdown Comparison

The maximum FCEUX drawdown since its inception was -33.57%, smaller than the maximum SHAPX drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for FCEUX and SHAPX.

Drawdown Indicators

	FCEUX	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-46.19%	+12.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-10.57%	-1.40%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	-20.53%	-2.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.21%	—
Current Drawdown Current decline from peak	-8.48%	-8.74%	+0.26%
Average Drawdown Average peak-to-trough decline	-4.89%	-4.79%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	2.29%	+0.12%

Volatility

FCEUX vs. SHAPX - Volatility Comparison

Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) has a higher volatility of 4.30% compared to ClearBridge Appreciation Fund (SHAPX) at 3.74%. This indicates that FCEUX's price experiences larger fluctuations and is considered to be riskier than SHAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEUX	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	3.74%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	7.86%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	15.90%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	14.85%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.92%	16.70%	+3.22%