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FLBR vs. EPU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLBR vs. EPU

Last updated Aug 4, 2026
Documentation

FLBR (Franklin FTSE Brazil ETF) and EPU (iShares MSCI Peru ETF) are both Latin America Equities funds - FLBR tracks the FTSE Brazil RIC Capped Index while EPU tracks the MSCI All Peru Capped Index. Both are passively managed. Over the past 5 years, FLBR returned 8.40%/yr vs 32.28%/yr for EPU. Their 0.49 correlation means their historical movements had little consistent relationship. FLBR charges 0.19%/yr vs 0.59%/yr for EPU.

Performance

FLBR vs. EPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Brazil ETF (FLBR) and iShares MSCI Peru ETF (EPU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with FLBR having a 20.73% return and EPU slightly higher at 21.67%.

FLBR

1D
-0.70%
1M
6.17%
6M
1.18%
YTD
20.73%
1Y
45.07%
3Y*
12.92%
5Y*
8.40%
10Y*
—
ALL TIME*
5.52%

EPU

1D
0.72%
1M
2.93%
6M
0.72%
YTD
21.67%
1Y
82.82%
3Y*
43.36%
5Y*
32.28%
10Y*
13.28%
ALL TIME*
10.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EPU

iShares MSCI Peru ETF
$4.58M$4.06M$5.78M

FLBR

Franklin FTSE Brazil ETF
$3.31M$2.47M$3.89M

FLBR vs. EPU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLBR
Franklin FTSE Brazil ETF		20.73%45.57%-27.58%33.19%10.44%-16.78%-20.13%28.47%-2.13%2.27%
EPU
iShares MSCI Peru ETF		21.67%86.87%21.73%25.34%2.05%-11.81%-4.31%7.30%-12.17%-1.41%

Correlation

The correlation between FLBR and EPU is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.58

Correlation (3Y)
Balances recent behavior with more history.

0.51

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.50

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.49

The correlation between FLBR and EPU has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.

FLBR vs. EPU - Sectors Allocation Comparison

Sectors
FLBR
EPU

Financial Services

26.3%
31.6%

Energy

17.8%

-

Basic Materials

15.6%
49.5%

Utilities

15.0%
2.9%

Industrials

12.4%
2.9%

Consumer Defensive

4.6%
3.3%

Consumer Cyclical

2.6%
4.5%

Healthcare

2.5%
1.0%

Communication Services

1.8%
1.4%

Real Estate

0.9%
3.0%

Technology

0.7%

-

Financial Services

FLBR
26.3%
EPU
31.6%

Energy

FLBR
17.8%
EPU

-

Basic Materials

FLBR
15.6%
EPU
49.5%

Utilities

FLBR
15.0%
EPU
2.9%

Industrials

FLBR
12.4%
EPU
2.9%

Consumer Defensive

FLBR
4.6%
EPU
3.3%

Consumer Cyclical

FLBR
2.6%
EPU
4.5%

Healthcare

FLBR
2.5%
EPU
1.0%

Communication Services

FLBR
1.8%
EPU
1.4%

Real Estate

FLBR
0.9%
EPU
3.0%

Technology

FLBR
0.7%
EPU

-

Compare stocks, funds, or ETFs

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Franklin FTSE Brazil ETF

iShares MSCI Peru ETF

Often compared with FLBR:
FLBR vs. EWZFLBR vs. ILFFLBR vs. FLLAFLBR vs. FLAUFLBR vs. USDFLBR vs. VOOFLBR vs. GAL
Often compared with EPU:
EPU vs. ECHEPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EPIEPU vs. EWS

Return for Risk

FLBR vs. EPU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FLBR
FLBR Risk / Return Rank: 6767
Overall Rank
FLBR Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
FLBR Sortino Ratio Rank: 7171
Sortino Ratio Rank
FLBR Omega Ratio Rank: 7373
Omega Ratio Rank
FLBR Calmar Ratio Rank: 6868
Calmar Ratio Rank
FLBR Martin Ratio Rank: 4949
Martin Ratio Rank
EPU
EPU Risk / Return Rank: 8888
Overall Rank
EPU Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 8787
Sortino Ratio Rank
EPU Omega Ratio Rank: 8888
Omega Ratio Rank
EPU Calmar Ratio Rank: 9090
Calmar Ratio Rank
EPU Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLBR vs. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Brazil ETF (FLBR) and iShares MSCI Peru ETF (EPU). 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.

FLBREPUDifference
Sharpe ratioReturn per unit of total volatility
1.79
2.60

-0.81

Sortino ratioReturn per unit of downside risk
2.38
3.02

-0.64

Omega ratioGain probability vs. loss probability

1.31

1.40

-0.09

Calmar ratioReturn relative to maximum drawdown

2.46

3.99

-1.53

Martin ratioReturn relative to average drawdown

5.86

10.75

-4.89

FLBR vs. EPU - Sharpe Ratio Comparison

The current FLBR Sharpe Ratio is 1.79, which is lower than the EPU Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of FLBR and EPU, 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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Drawdowns

FLBR vs. EPU - Drawdown Comparison

The maximum FLBR drawdown since its inception was -57.42%, smaller than the maximum EPU drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for FLBR and EPU.

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Drawdown Indicators

FLBREPUDifference

Max Drawdown

Largest peak-to-trough decline

-57.42%

-60.62%

+3.20%

Max Drawdown (1Y)

Largest decline over 1 year

-18.38%

-20.85%

+2.47%

Max Drawdown (3Y)

Largest decline over 3 years

-28.97%

-20.85%

-8.12%

Max Drawdown (5Y)

Largest decline over 5 years

-32.31%

-35.59%

+3.28%

Max Drawdown (10Y)

Largest decline over 10 years

—

-50.97%

—

Current Drawdown

Current decline from peak

-11.75%

-6.19%

-5.56%

Average Drawdown

Average peak-to-trough decline

-18.55%

-18.72%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.71%

7.73%

-0.02%

Volatility

FLBR vs. EPU - Volatility Comparison

The current volatility for Franklin FTSE Brazil ETF (FLBR) is 6.47%, while iShares MSCI Peru ETF (EPU) has a volatility of 8.89%. This indicates that FLBR experiences smaller price fluctuations and is considered to be less risky than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLBREPUDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.47%

8.89%

-2.42%

Volatility (6M)

Calculated over the trailing 6-month period

19.20%

26.65%

-7.45%

Volatility (1Y)

Calculated over the trailing 1-year period

25.29%

32.07%

-6.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.46%

25.10%

+2.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.89%

23.72%

+9.17%

FLBR vs. EPU - Expense Ratio Comparison

FLBR has a 0.19% expense ratio, which is lower than EPU's 0.59% expense ratio.

Dividends

FLBR vs. EPU - Dividend Comparison

FLBR's dividend yield for the trailing twelve months is around 5.70%, more than EPU's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
EPU
iShares MSCI Peru ETF		1.97%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%
FLBR
Franklin FTSE Brazil ETF		5.70%7.71%7.68%8.84%11.99%8.71%2.32%3.42%3.72%0.42%0.00%0.00%

Frequently Asked Questions

FLBR and EPU have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPU has higher volatility (8.89%) compared to FLBR (6.47%). In terms of maximum drawdown, FLBR dropped -57.42% vs EPU's -60.62%.

On 5-year performance, EPU leads with 32.28% vs 8.40% for FLBR. On fees, FLBR is cheaper at 0.19% per year. On volatility, FLBR has been the lower-risk option at 6.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EPU has performed better with a 32.28% return vs 8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLBR is cheaper with a 0.19% expense ratio, compared with 0.59% for EPU.

FLBR has the higher dividend yield at 5.70%, compared with 1.97% for EPU.

FLBR tracks FTSE Brazil RIC Capped Index, while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLBR and 0.59% for EPU.

EPU currently has the higher Sharpe Ratio (2.60 vs 1.79), 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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