FLBR vs. USD

Last updated Aug 5, 2026

FLBR (Franklin FTSE Brazil ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - FLBR is a Latin America Equities fund tracking the FTSE Brazil RIC Capped Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 5 years, FLBR returned 8.29%/yr vs 57.55%/yr for USD. Their 0.32 correlation means their historical movements had little consistent relationship. FLBR charges 0.19%/yr vs 0.95%/yr for USD.

Performance

FLBR vs. USD - Performance Comparison

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

Returns By Period

In the year-to-date period, FLBR achieves a 19.08% return, which is significantly lower than USD's 71.41% return.

FLBR

• 1D: -1.36%
• 1M: 4.72%
• 6M: -2.09%
• YTD: 19.08%
• 1Y: 42.08%
• 3Y*: 12.40%
• 5Y*: 8.29%
• 10Y*: —
• ALL TIME*: 5.36%

USD

• 1D: 10.39%
• 1M: 2.58%
• 6M: 64.91%
• YTD: 71.41%
• 1Y: 106.91%
• 3Y*: 102.00%
• 5Y*: 57.55%
• 10Y*: 55.47%
• ALL TIME*: 28.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLBR Franklin FTSE Brazil ETF	$3.43M	$2.44M	$3.68M
USD ProShares Ultra Semiconductors	$73.98M	$71.11M	$96.07M

FLBR vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLBR Franklin FTSE Brazil ETF	19.08%	45.57%	-27.58%	33.19%	10.44%	-16.78%	-20.13%	28.47%	-2.13%	2.27%
USD ProShares Ultra Semiconductors	71.41%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	-6.01%

Correlation

The correlation between FLBR and USD is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.26
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.32

The correlation between FLBR and USD shifts across timeframes, from 0.26 (5 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

FLBR vs. USD - Sectors Allocation Comparison

Sectors	FLBR	USD
Financial Services	26.3%	32.1%
Energy	17.8%	0.0%
Basic Materials	15.6%	-
Utilities	15.0%	-
Industrials	12.4%	-
Consumer Defensive	4.6%	-
Consumer Cyclical	2.6%	-
Healthcare	2.5%	-
Communication Services	1.8%	-
Real Estate	0.9%	-
Technology	0.7%	32.6%

Return for Risk

FLBR vs. USD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLBR

FLBR Risk / Return Rank: 57
FLBR Sharpe Ratio Rank: 63
FLBR Sortino Ratio Rank: 59
FLBR Omega Ratio Rank: 60
FLBR Calmar Ratio Rank: 57
FLBR Martin Ratio Rank: 44

USD

USD Risk / Return Rank: 56
USD Sharpe Ratio Rank: 52
USD Sortino Ratio Rank: 49
USD Omega Ratio Rank: 49
USD Calmar Ratio Rank: 70
USD Martin Ratio Rank: 59

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. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Brazil ETF (FLBR) and ProShares Ultra Semiconductors (USD). 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.

	FLBR	USD	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.45	+0.22
Sortino ratio: Return per unit of downside risk	2.25	1.96	+0.29
Omega ratio: Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio: Return relative to maximum drawdown	2.30	2.73	-0.43
Martin ratio: Return relative to average drawdown	5.44	7.78	-2.34

FLBR vs. USD - Sharpe Ratio Comparison

The current FLBR Sharpe Ratio is 1.67, which is comparable to the USD Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of FLBR and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLBR vs. USD - Drawdown Comparison

The maximum FLBR drawdown since its inception was -57.42%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for FLBR and USD.

Drawdown Indicators

	FLBR	USD	Difference
Max Drawdown Largest peak-to-trough decline	-57.42%	-88.63%	+31.21%
Max Drawdown (1Y) Largest decline over 1 year	-18.38%	-39.33%	+20.95%
Max Drawdown (3Y) Largest decline over 3 years	-28.97%	-64.46%	+35.49%
Max Drawdown (5Y) Largest decline over 5 years	-32.31%	-77.85%	+45.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-12.95%	-20.81%	+7.86%
Average Drawdown Average peak-to-trough decline	-18.55%	-32.23%	+13.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.76%	13.80%	-6.04%

Volatility

FLBR vs. USD - Volatility Comparison

The current volatility for Franklin FTSE Brazil ETF (FLBR) is 6.63%, while ProShares Ultra Semiconductors (USD) has a volatility of 29.12%. This indicates that FLBR experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLBR	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	29.12%	-22.49%
Volatility (6M) Calculated over the trailing 6-month period	19.21%	61.81%	-42.60%
Volatility (1Y) Calculated over the trailing 1-year period	25.28%	74.29%	-49.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.46%	78.90%	-51.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.88%	70.46%	-37.58%

FLBR vs. USD - Expense Ratio Comparison

FLBR has a 0.19% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

FLBR vs. USD - Dividend Comparison

FLBR's dividend yield for the trailing twelve months is around 5.78%, more than USD's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLBR Franklin FTSE Brazil ETF	5.78%	7.71%	7.68%	8.84%	11.99%	8.71%	2.32%	3.42%	3.72%	0.42%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.34%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both FLBR and USD in my portfolio?

FLBR and USD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLBR or USD?

USD has higher volatility (29.12%) compared to FLBR (6.63%). In terms of maximum drawdown, FLBR dropped -57.42% vs USD's -88.63%.

Which ETF is better, FLBR or USD?

On 5-year performance, USD leads with 57.55% vs 8.29% for FLBR. On fees, FLBR is cheaper at 0.19% per year. On volatility, FLBR has been the lower-risk option at 6.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLBR or USD?

Over the 5-year period, USD has performed better with a 57.55% return vs 8.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLBR or USD?

FLBR is cheaper with a 0.19% expense ratio, compared with 0.95% for USD.

Which ETF pays a higher dividend yield, FLBR or USD?

FLBR has the higher dividend yield at 5.78%, compared with 0.34% for USD.

What is the main difference between FLBR and USD?

FLBR is categorized as Latin America Equities, while USD is Leveraged Equities. FLBR tracks FTSE Brazil RIC Capped Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for FLBR and 0.95% for USD.

Which has better risk-adjusted returns?

FLBR currently has the higher Sharpe Ratio (1.67 vs 1.45), 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.