FGDL vs. FTMH

Last updated Jun 24, 2026

FGDL (Franklin Responsibly Sourced Gold ETF) and FTMH (Franklin Municipal High Yield ETF) are both exchange-traded funds - FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while FTMH is a High Yield Muni fund actively managed by Franklin Templeton. FGDL is passively managed, while FTMH is actively managed. At a 0.26 correlation, their price movements are largely independent. FGDL charges 0.15%/yr vs 0.35%/yr for FTMH.

Performance

FGDL vs. FTMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Responsibly Sourced Gold ETF (FGDL) and Franklin Municipal High Yield ETF (FTMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGDL achieves a -4.86% return, which is significantly lower than FTMH's 3.83% return.

FGDL

• 1D: -1.86%
• 1M: -8.58%
• YTD: -4.86%
• 6M: -8.67%
• 1Y: 21.26%
• 3Y*: 28.79%
• 5Y*: —
• 10Y*: —

FTMH

• 1D: -0.08%
• 1M: 2.14%
• YTD: 3.83%
• 6M: 3.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGDL vs. FTMH - Yearly Performance Comparison

	2026 (YTD)	2025
FGDL Franklin Responsibly Sourced Gold ETF	-4.86%	4.96%
FTMH Franklin Municipal High Yield ETF	3.83%	-0.43%

Correlation

The correlation between FGDL and FTMH is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	0.26

Return for Risk

FGDL vs. FTMH — Risk / Return Rank

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

FGDL

FGDL Risk / Return Rank: 21
FGDL Sharpe Ratio Rank: 23
FGDL Sortino Ratio Rank: 21
FGDL Omega Ratio Rank: 24
FGDL Calmar Ratio Rank: 20
FGDL Martin Ratio Rank: 20

FTMH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FGDL vs. FTMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and Franklin Municipal High Yield ETF (FTMH). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FGDL	FTMH	Difference
Sharpe ratio: Return per unit of total volatility	0.77	—	—
Sortino ratio: Return per unit of downside risk	1.12	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.86	—	—
Martin ratio: Return relative to average drawdown	2.31	—	—

Drawdowns

FGDL vs. FTMH - Drawdown Comparison

The maximum FGDL drawdown since its inception was -24.73%, which is greater than FTMH's maximum drawdown of -3.12%. Use the drawdown chart below to compare losses from any high point for FGDL and FTMH.

Drawdown Indicators

	FGDL	FTMH	Difference
Max Drawdown Largest peak-to-trough decline	-24.73%	-3.12%	-21.61%
Max Drawdown (1Y) Largest decline over 1 year	-24.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.73%	—	—
Current Drawdown Current decline from peak	-23.98%	-0.08%	-23.90%
Average Drawdown Average peak-to-trough decline	-4.07%	-0.62%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.24%	—	—

Volatility

Volatility by Period

	FGDL	FTMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.83%	4.02%	+23.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	4.02%	+15.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	4.02%	+15.31%

FGDL vs. FTMH - Expense Ratio Comparison

FGDL has a 0.15% expense ratio, which is lower than FTMH's 0.35% expense ratio.

Dividends

FGDL vs. FTMH - Dividend Comparison

FGDL has not paid dividends to shareholders, while FTMH's dividend yield for the trailing twelve months is around 2.70%.

Position	TTM	2025
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%
FTMH Franklin Municipal High Yield ETF	2.70%	0.86%

Frequently Asked Questions

Can I hold both FGDL and FTMH in my portfolio?

FGDL and FTMH have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FGDL or FTMH?

On fees, FGDL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FGDL or FTMH?

FGDL is cheaper with a 0.15% expense ratio, compared with 0.35% for FTMH.

Which ETF pays a higher dividend yield, FGDL or FTMH?

FTMH has the higher dividend yield at 2.70%, compared with 0.00% for FGDL.

What is the main difference between FGDL and FTMH?

FGDL is categorized as Gold, while FTMH is High Yield Muni. Their fees differ too: 0.15% for FGDL and 0.35% for FTMH.