FLCO vs. AVIG
FLCO (Franklin Liberty Investment Grade Corporate ETF) and AVIG (Avantis Core Fixed Income ETF) are both exchange-traded funds - FLCO is a Corporate Bonds fund actively managed by Franklin Templeton, while AVIG is a Intermediate Core Bond fund actively managed by Avantis. Both are actively managed. Over the past 5 years, FLCO returned 0.03%/yr vs 0.10%/yr for AVIG. Their correlation of 0.94 suggests significant overlap in exposure. FLCO charges 0.35%/yr vs 0.15%/yr for AVIG.
Performance
FLCO vs. AVIG - Performance Comparison
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Returns By Period
In the year-to-date period, FLCO achieves a 0.67% return, which is significantly higher than AVIG's 0.23% return.
FLCO
- 1D
- 0.12%
- 1M
- 0.76%
- YTD
- 0.67%
- 6M
- 0.83%
- 1Y
- 4.78%
- 3Y*
- 5.00%
- 5Y*
- 0.03%
- 10Y*
- —
AVIG
- 1D
- 0.12%
- 1M
- 0.51%
- YTD
- 0.23%
- 6M
- 0.39%
- 1Y
- 4.51%
- 3Y*
- 4.46%
- 5Y*
- 0.10%
- 10Y*
- —
FLCO vs. AVIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 0.67% | 7.53% | 1.93% | 7.94% | -16.08% | -2.06% | 2.41% |
AVIG Avantis Core Fixed Income ETF | 0.23% | 7.98% | 1.55% | 6.41% | -13.94% | -2.15% | 0.86% |
Correlation
The correlation between FLCO and AVIG is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.94 |
The correlation between FLCO and AVIG has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
FLCO vs. AVIG — Risk / Return Rank
FLCO
AVIG
FLCO vs. AVIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and Avantis Core Fixed Income ETF (AVIG). 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.
| FLCO | AVIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.61 | +0.13 |
| Martin ratioReturn relative to average drawdown | 5.12 | 4.56 | +0.56 |
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Drawdowns
FLCO vs. AVIG - Drawdown Comparison
The maximum FLCO drawdown since its inception was -22.71%, which is greater than AVIG's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for FLCO and AVIG.
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Drawdown Indicators
| FLCO | AVIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -19.64% | -3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.82% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.59% | -6.03% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -19.47% | -3.01% |
Current DrawdownCurrent decline from peak | -2.11% | -1.52% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -7.69% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.99% | -0.05% |
Volatility
FLCO vs. AVIG - Volatility Comparison
Franklin Liberty Investment Grade Corporate ETF (FLCO) and Avantis Core Fixed Income ETF (AVIG) have volatilities of 1.17% and 1.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCO | AVIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.15% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.32% | 2.96% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 3.83% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 6.24% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 5.99% | +0.83% |
FLCO vs. AVIG - Expense Ratio Comparison
FLCO has a 0.35% expense ratio, which is higher than AVIG's 0.15% expense ratio.
Dividends
FLCO vs. AVIG - Dividend Comparison
FLCO's dividend yield for the trailing twelve months is around 4.64%, more than AVIG's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 4.37% | 4.36% | 4.66% | 4.06% | 2.53% | 1.12% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
FLCO Franklin Liberty Investment Grade Corporate ETF | 4.64% | 4.60% | 4.63% | 3.83% | 3.85% | 2.85% | 3.99% | 3.39% | 3.86% | 3.33% | 0.51% |
Frequently Asked Questions
With a correlation of 0.95, FLCO and AVIG 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.
FLCO has higher volatility (1.17%) compared to AVIG (1.15%). In terms of maximum drawdown, FLCO dropped -22.71% vs AVIG's -19.64%.
On 5-year performance, AVIG leads with 0.10% vs 0.03% for FLCO. On fees, AVIG is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AVIG has performed better with a 0.10% return vs 0.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVIG is cheaper with a 0.15% expense ratio, compared with 0.35% for FLCO.
FLCO has the higher dividend yield at 4.64%, compared with 4.37% for AVIG.
FLCO is categorized as Corporate Bonds, while AVIG is Intermediate Core Bond. They also come from different issuers: Franklin Templeton and Avantis. Their fees differ too: 0.35% for FLCO and 0.15% for AVIG.
AVIG currently has the higher Sharpe Ratio (1.18 vs 1.09), 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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