FGDL vs. FLBL
Compare and contrast key facts about Franklin Responsibly Sourced Gold ETF (FGDL) and Franklin Liberty Senior Loan ETF (FLBL).
FGDL and FLBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FGDL is a passively managed fund by Franklin Templeton that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Jun 30, 2022. FLBL is an actively managed fund by Franklin Templeton. It was launched on May 30, 2018.
Performance
FGDL vs. FLBL - Performance Comparison
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FGDL vs. FLBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | 7.93% | 64.15% | 27.31% | 12.92% | 0.91% |
FLBL Franklin Liberty Senior Loan ETF | -0.76% | 3.59% | 8.26% | 14.83% | 3.37% |
Returns By Period
In the year-to-date period, FGDL achieves a 7.93% return, which is significantly higher than FLBL's -0.76% return.
FGDL
- 1D
- 3.39%
- 1M
- -11.22%
- YTD
- 7.93%
- 6M
- 20.34%
- 1Y
- 48.63%
- 3Y*
- 33.11%
- 5Y*
- —
- 10Y*
- —
FLBL
- 1D
- 0.35%
- 1M
- 1.58%
- YTD
- -0.76%
- 6M
- -0.68%
- 1Y
- 2.56%
- 3Y*
- 6.82%
- 5Y*
- 5.19%
- 10Y*
- —
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FGDL vs. FLBL - Expense Ratio Comparison
FGDL has a 0.15% expense ratio, which is lower than FLBL's 0.45% expense ratio.
Return for Risk
FGDL vs. FLBL — Risk / Return Rank
FGDL
FLBL
FGDL vs. FLBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) 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.
| FGDL | FLBL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 0.60 | +1.15 |
Sortino ratioReturn per unit of downside risk | 2.16 | 0.87 | +1.29 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.15 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 2.64 | 0.76 | +1.88 |
Martin ratioReturn relative to average drawdown | 9.52 | 2.59 | +6.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FGDL | FLBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 0.60 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.52 | 0.77 | +0.75 |
Correlation
The correlation between FGDL and FLBL is 0.10, 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
FGDL vs. FLBL - Dividend Comparison
FGDL has not paid dividends to shareholders, while FLBL's dividend yield for the trailing twelve months is around 7.32%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold 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 | 7.32% | 7.24% | 8.05% | 8.37% | 5.53% | 3.57% | 3.22% | 3.97% | 2.21% |
Drawdowns
FGDL vs. FLBL - Drawdown Comparison
The maximum FGDL drawdown since its inception was -19.23%, roughly equal to the maximum FLBL drawdown of -19.52%. Use the drawdown chart below to compare losses from any high point for FGDL and FLBL.
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Drawdown Indicators
| FGDL | FLBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.23% | -19.52% | +0.29% |
Max Drawdown (1Y)Largest decline over 1 year | -19.23% | -3.32% | -15.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.80% | — |
Current DrawdownCurrent decline from peak | -13.76% | -1.56% | -12.20% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -1.01% | -2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 1.01% | +4.32% |
Volatility
FGDL vs. FLBL - Volatility Comparison
Franklin Responsibly Sourced Gold ETF (FGDL) has a higher volatility of 10.75% compared to Franklin Liberty Senior Loan ETF (FLBL) at 1.16%. This indicates that FGDL'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.
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Volatility by Period
| FGDL | FLBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 1.16% | +9.59% |
Volatility (6M)Calculated over the trailing 6-month period | 24.37% | 2.23% | +22.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 4.29% | +23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 3.88% | +15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 5.77% | +13.19% |