FLBR vs. UBR
FLBR (Franklin FTSE Brazil ETF) and UBR (ProShares Ultra MSCI Brazil) are both exchange-traded funds - FLBR is a Latin America Equities fund tracking the FTSE Brazil RIC Capped Index, while UBR is a Leveraged Equities fund tracking the MSCI Brazil Index (200%). Both are passively managed. Over the past 5 years, FLBR returned 5.54%/yr vs -5.17%/yr for UBR. With a 0.97 correlation, they move nearly in lockstep. FLBR charges 0.19%/yr vs 0.95%/yr for UBR.
Performance
FLBR vs. UBR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLBR achieves a 15.12% return, which is significantly higher than UBR's 13.03% return.
FLBR
- 1D
- -3.35%
- 1M
- -10.42%
- YTD
- 15.12%
- 6M
- 10.76%
- 1Y
- 35.11%
- 3Y*
- 13.91%
- 5Y*
- 5.54%
- 10Y*
- —
UBR
- 1D
- -5.40%
- 1M
- -21.46%
- YTD
- 13.03%
- 6M
- 3.25%
- 1Y
- 56.81%
- 3Y*
- 8.90%
- 5Y*
- -5.17%
- 10Y*
- -1.90%
FLBR vs. UBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLBR Franklin FTSE Brazil ETF | 15.12% | 45.57% | -27.58% | 33.19% | 10.44% | -16.78% | -20.13% | 28.47% | -2.13% | 2.27% |
UBR ProShares Ultra MSCI Brazil | 13.03% | 96.11% | -57.05% | 49.98% | 5.60% | -39.03% | -60.67% | 44.19% | -19.11% | 1.69% |
Correlation
The correlation between FLBR and UBR is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017 | 0.97 |
The correlation between FLBR and UBR has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLBR vs. UBR — Risk / Return Rank
FLBR
UBR
FLBR vs. UBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Brazil ETF (FLBR) and ProShares Ultra MSCI Brazil (UBR). 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.
| FLBR | UBR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 1.81 | +0.41 |
| Martin ratioReturn relative to average drawdown | 6.93 | 5.36 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FLBR | UBR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.15 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | -0.09 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | -0.20 | +0.35 |
Drawdowns
FLBR vs. UBR - Drawdown Comparison
The maximum FLBR drawdown since its inception was -57.42%, smaller than the maximum UBR drawdown of -97.15%. Use the drawdown chart below to compare losses from any high point for FLBR and UBR.
Loading charts...
Drawdown Indicators
| FLBR | UBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.42% | -97.15% | +39.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.85% | -31.50% | +15.65% |
Max Drawdown (3Y)Largest decline over 3 years | -28.97% | -58.11% | +29.14% |
Max Drawdown (5Y)Largest decline over 5 years | -32.74% | -67.07% | +34.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.57% | — |
Current DrawdownCurrent decline from peak | -15.85% | -92.84% | +76.99% |
Average DrawdownAverage peak-to-trough decline | -18.62% | -77.90% | +59.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 10.63% | -5.55% |
Volatility
FLBR vs. UBR - Volatility Comparison
The current volatility for Franklin FTSE Brazil ETF (FLBR) is 8.12%, while ProShares Ultra MSCI Brazil (UBR) has a volatility of 15.51%. This indicates that FLBR experiences smaller price fluctuations and is considered to be less risky than UBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FLBR | UBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 15.51% | -7.39% |
Volatility (6M)Calculated over the trailing 6-month period | 21.22% | 41.58% | -20.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.09% | 49.62% | -24.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.69% | 55.66% | -27.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.08% | 66.68% | -33.60% |
FLBR vs. UBR - Expense Ratio Comparison
FLBR has a 0.19% expense ratio, which is lower than UBR's 0.95% expense ratio.
Dividends
FLBR vs. UBR - Dividend Comparison
FLBR's dividend yield for the trailing twelve months is around 6.69%, more than UBR's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLBR Franklin FTSE Brazil ETF | 6.69% | 7.71% | 7.68% | 8.84% | 11.99% | 8.71% | 2.32% | 3.42% | 3.72% | 0.42% |
UBR ProShares Ultra MSCI Brazil | 1.85% | 2.05% | 8.09% | 1.15% | 0.00% | 0.00% | 0.00% | 0.53% | 0.13% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, FLBR and UBR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
UBR has higher volatility (15.51%) compared to FLBR (8.12%). In terms of maximum drawdown, FLBR dropped -57.42% vs UBR's -97.15%.
On 5-year performance, FLBR leads with 5.54% vs -5.17% for UBR. On fees, FLBR is cheaper at 0.19% per year. On volatility, FLBR has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLBR has performed better with a 5.54% return vs -5.17%. 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 0.95% for UBR.
FLBR has the higher dividend yield at 6.69%, compared with 1.85% for UBR.
FLBR is categorized as Latin America Equities, while UBR is Leveraged Equities. FLBR tracks FTSE Brazil RIC Capped Index, while UBR tracks MSCI Brazil Index (200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for FLBR and 0.95% for UBR.
FLBR currently has the higher Sharpe Ratio (1.41 vs 1.15), 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.
Find the right allocation for FLBR and UBR
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