FLCO vs. EZBC

Last updated Jul 12, 2026

FLCO (Franklin Liberty Investment Grade Corporate ETF) and EZBC (Franklin Bitcoin ETF) are both exchange-traded funds - FLCO is a Corporate Bonds fund actively managed by Franklin Templeton, while EZBC is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. FLCO is actively managed, while EZBC is passively managed. Over the past year, FLCO returned 3.94% vs -46.08% for EZBC. At a 0.09 correlation, their price movements are largely independent. FLCO charges 0.35%/yr vs 0.19%/yr for EZBC.

Performance

FLCO vs. EZBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Investment Grade Corporate ETF (FLCO) and Franklin Bitcoin ETF (EZBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCO achieves a 0.05% return, which is significantly higher than EZBC's -27.02% return.

FLCO

• 1D: -0.26%
• 1M: -0.63%
• 6M: -0.18%
• YTD: 0.05%
• 1Y: 3.94%
• 3Y*: 5.01%
• 5Y*: -0.26%
• 10Y*: —

EZBC

• 1D: 1.15%
• 1M: 0.49%
• 6M: -29.23%
• YTD: -27.02%
• 1Y: -46.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLCO vs. EZBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLCO Franklin Liberty Investment Grade Corporate ETF	0.05%	7.53%	2.91%
EZBC Franklin Bitcoin ETF	-27.02%	-6.56%	87.83%

Correlation

The correlation between FLCO and EZBC is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.09

Return for Risk

FLCO vs. EZBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLCO

FLCO Risk / Return Rank: 28
FLCO Sharpe Ratio Rank: 27
FLCO Sortino Ratio Rank: 25
FLCO Omega Ratio Rank: 24
FLCO Calmar Ratio Rank: 31
FLCO Martin Ratio Rank: 32

EZBC

EZBC Risk / Return Rank: 2
EZBC Sharpe Ratio Rank: 2
EZBC Sortino Ratio Rank: 2
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLCO vs. EZBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and Franklin Bitcoin ETF (EZBC). 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	EZBC	Difference
Sharpe ratio: Return per unit of total volatility	0.81	-0.99	+1.80
Sortino ratio: Return per unit of downside risk	1.19	-1.45	+2.64
Omega ratio: Gain probability vs. loss probability	1.14	0.84	+0.30
Calmar ratio: Return relative to maximum drawdown	1.27	-0.82	+2.10
Martin ratio: Return relative to average drawdown	3.75	-1.35	+5.10

FLCO vs. EZBC - Sharpe Ratio Comparison

The current FLCO Sharpe Ratio is 0.81, which is higher than the EZBC Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of FLCO and EZBC, 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

FLCO vs. EZBC - Drawdown Comparison

The maximum FLCO drawdown since its inception was -22.71%, smaller than the maximum EZBC drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for FLCO and EZBC.

Drawdown Indicators

	FLCO	EZBC	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-53.35%	+30.64%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-53.35%	+50.59%
Max Drawdown (3Y) Largest decline over 3 years	-6.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.48%	—	—
Current Drawdown Current decline from peak	-2.71%	-49.20%	+46.49%
Average Drawdown Average peak-to-trough decline	-5.84%	-17.55%	+11.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	32.55%	-31.61%

Volatility

FLCO vs. EZBC - Volatility Comparison

The current volatility for Franklin Liberty Investment Grade Corporate ETF (FLCO) is 1.27%, while Franklin Bitcoin ETF (EZBC) has a volatility of 11.08%. This indicates that FLCO experiences smaller price fluctuations and is considered to be less risky than EZBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCO	EZBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	11.08%	-9.81%
Volatility (6M) Calculated over the trailing 6-month period	3.40%	34.69%	-31.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	44.40%	-40.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	49.91%	-42.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	49.91%	-43.10%

FLCO vs. EZBC - Expense Ratio Comparison

FLCO has a 0.35% expense ratio, which is higher than EZBC's 0.19% expense ratio.

Dividends

FLCO vs. EZBC - Dividend Comparison

FLCO's dividend yield for the trailing twelve months is around 4.71%, while EZBC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLCO Franklin Liberty Investment Grade Corporate ETF	4.71%	4.60%	4.63%	3.83%	3.85%	2.85%	3.99%	3.39%	3.86%	3.33%	0.51%

Frequently Asked Questions

Can I hold both FLCO and EZBC in my portfolio?

FLCO and EZBC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCO or EZBC?

EZBC has higher volatility (11.08%) compared to FLCO (1.27%). In terms of maximum drawdown, FLCO dropped -22.71% vs EZBC's -53.35%.

Which ETF is better, FLCO or EZBC?

On 1-year performance, FLCO leads with 3.94% vs -46.08% for EZBC. On fees, EZBC is cheaper at 0.19% per year. On volatility, FLCO has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCO or EZBC?

Over the 1-year period, FLCO has performed better with a 3.94% return vs -46.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCO or EZBC?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.35% for FLCO.

Which ETF pays a higher dividend yield, FLCO or EZBC?

FLCO has the higher dividend yield at 4.71%, compared with 0.00% for EZBC.

What is the main difference between FLCO and EZBC?

FLCO is categorized as Corporate Bonds, while EZBC is Cryptocurrency. Their fees differ too: 0.35% for FLCO and 0.19% for EZBC.

Which has better risk-adjusted returns?

FLCO currently has the higher Sharpe Ratio (0.81 vs -0.99), 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.