PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FLBR vs. FLN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLBR vs. FLN

Last updated Aug 4, 2026
Documentation

FLBR (Franklin FTSE Brazil ETF) and FLN (First Trust Latin America AlphaDEX Fund) are both Latin America Equities funds - FLBR tracks the FTSE Brazil RIC Capped Index while FLN tracks the NASDAQ AlphaDEX Latin America Index. Both are passively managed. Over the past 5 years, FLBR returned 8.40%/yr vs 11.42%/yr for FLN. Their correlation of 0.82 means they have usually moved in the same direction. FLBR charges 0.19%/yr vs 0.80%/yr for FLN.

Performance

FLBR vs. FLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Brazil ETF (FLBR) and First Trust Latin America AlphaDEX Fund (FLN). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FLBR achieves a 20.73% return, which is significantly higher than FLN's 17.17% return.

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%

FLN

1D
-0.20%
1M
5.96%
6M
0.98%
YTD
17.17%
1Y
42.75%
3Y*
15.22%
5Y*
11.42%
10Y*
7.88%
ALL TIME*
2.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

FLBR

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

FLN

First Trust Latin America AlphaDEX Fund
$512.65K$431.00K$341.56K

FLBR vs. FLN - 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%
FLN
First Trust Latin America AlphaDEX Fund		17.17%55.05%-23.10%29.68%2.73%-6.94%-12.27%27.22%-8.31%4.10%

Correlation

The correlation between FLBR and FLN is 0.89, meaning they have usually moved in the same direction, including during past declines.

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

0.89

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

0.82

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

0.82

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

0.82

The correlation between FLBR and FLN has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

FLBR vs. FLN - Sectors Allocation Comparison

Sectors
FLBR
FLN

Financial Services

26.3%
24.6%

Energy

17.8%
8.6%

Basic Materials

15.6%
11.9%

Utilities

15.0%
16.9%

Industrials

12.4%
12.5%

Consumer Defensive

4.6%
7.8%

Consumer Cyclical

2.6%
5.4%

Healthcare

2.5%
0.5%

Communication Services

1.8%
6.8%

Real Estate

0.9%
5.0%

Technology

0.7%
2.1%

Financial Services

FLBR
26.3%
FLN
24.6%

Energy

FLBR
17.8%
FLN
8.6%

Basic Materials

FLBR
15.6%
FLN
11.9%

Utilities

FLBR
15.0%
FLN
16.9%

Industrials

FLBR
12.4%
FLN
12.5%

Consumer Defensive

FLBR
4.6%
FLN
7.8%

Consumer Cyclical

FLBR
2.6%
FLN
5.4%

Healthcare

FLBR
2.5%
FLN
0.5%

Communication Services

FLBR
1.8%
FLN
6.8%

Real Estate

FLBR
0.9%
FLN
5.0%

Technology

FLBR
0.7%
FLN
2.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE Brazil ETF

First Trust Latin America AlphaDEX Fund

Often compared with FLBR:
FLBR vs. EWZFLBR vs. ILFFLBR vs. FLLAFLBR vs. FLAUFLBR vs. USDFLBR vs. VOOFLBR vs. GAL
Often compared with FLN:
FLN vs. ILFFLN vs. BRFFLN vs. FLLAFLN vs. BRAZFLN vs. EWZFLN vs. CHILXFLN vs. VOO

Return for Risk

FLBR vs. FLN — 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
FLN
FLN Risk / Return Rank: 7878
Overall Rank
FLN Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
FLN Sortino Ratio Rank: 7878
Sortino Ratio Rank
FLN Omega Ratio Rank: 7979
Omega Ratio Rank
FLN Calmar Ratio Rank: 8383
Calmar Ratio Rank
FLN Martin Ratio Rank: 6666
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. FLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Brazil ETF (FLBR) and First Trust Latin America AlphaDEX Fund (FLN). 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.

FLBRFLNDifference
Sharpe ratioReturn per unit of total volatility
1.79
2.02

-0.23

Sortino ratioReturn per unit of downside risk
2.38
2.65

-0.27

Omega ratioGain probability vs. loss probability

1.31

1.35

-0.03

Calmar ratioReturn relative to maximum drawdown

2.46

3.28

-0.81

Martin ratioReturn relative to average drawdown

5.86

8.36

-2.50

FLBR vs. FLN - Sharpe Ratio Comparison

The current FLBR Sharpe Ratio is 1.79, which is comparable to the FLN Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FLBR and FLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

FLBR vs. FLN - Drawdown Comparison

The maximum FLBR drawdown since its inception was -57.42%, roughly equal to the maximum FLN drawdown of -57.95%. Use the drawdown chart below to compare losses from any high point for FLBR and FLN.

Loading charts...

Drawdown Indicators

FLBRFLNDifference

Max Drawdown

Largest peak-to-trough decline

-57.42%

-57.95%

+0.53%

Max Drawdown (1Y)

Largest decline over 1 year

-18.38%

-13.10%

-5.28%

Max Drawdown (3Y)

Largest decline over 3 years

-28.97%

-25.23%

-3.74%

Max Drawdown (5Y)

Largest decline over 5 years

-32.31%

-25.95%

-6.36%

Max Drawdown (10Y)

Largest decline over 10 years

—

-57.75%

—

Current Drawdown

Current decline from peak

-11.75%

-5.56%

-6.19%

Average Drawdown

Average peak-to-trough decline

-18.55%

-18.79%

+0.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.71%

5.13%

+2.58%

Volatility

FLBR vs. FLN - Volatility Comparison

Franklin FTSE Brazil ETF (FLBR) has a higher volatility of 6.47% compared to First Trust Latin America AlphaDEX Fund (FLN) at 5.00%. This indicates that FLBR's price experiences larger fluctuations and is considered to be riskier than FLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FLBRFLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.47%

5.00%

+1.47%

Volatility (6M)

Calculated over the trailing 6-month period

19.20%

17.08%

+2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

25.29%

21.27%

+4.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.46%

22.54%

+4.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.89%

27.40%

+5.49%

FLBR vs. FLN - Expense Ratio Comparison

FLBR has a 0.19% expense ratio, which is lower than FLN's 0.80% expense ratio.

Dividends

FLBR vs. FLN - Dividend Comparison

FLBR's dividend yield for the trailing twelve months is around 5.70%, more than FLN's 3.39% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
FLN
First Trust Latin America AlphaDEX Fund		3.39%3.40%6.26%4.17%5.57%4.70%1.64%1.91%3.08%10.28%1.06%2.34%

Frequently Asked Questions

FLBR and FLN have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLBR has higher volatility (6.47%) compared to FLN (5.00%). In terms of maximum drawdown, FLBR dropped -57.42% vs FLN's -57.95%.

On 5-year performance, FLN leads with 11.42% vs 8.40% for FLBR. On fees, FLBR is cheaper at 0.19% per year. On volatility, FLN has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLN has performed better with a 11.42% 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 0.80% for FLN.

FLBR has the higher dividend yield at 5.70%, compared with 3.39% for FLN.

FLBR tracks FTSE Brazil RIC Capped Index, while FLN tracks NASDAQ AlphaDEX Latin America Index. They also come from different issuers: Franklin Templeton and First Trust. Their fees differ too: 0.19% for FLBR and 0.80% for FLN.

FLN currently has the higher Sharpe Ratio (2.02 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.

Portfolio Optimizer

Find the right allocation for FLBR and FLN

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer