FLCO vs. FLDR
FLCO (Franklin Liberty Investment Grade Corporate ETF) and FLDR (Fidelity Low Duration Bond Factor ETF) are both Corporate Bonds funds. FLCO is actively managed, while FLDR is passively managed. Over the past 5 years, FLCO returned 0.21%/yr vs 3.70%/yr for FLDR. At a 0.49 correlation, their price movements are largely independent. FLCO charges 0.35%/yr vs 0.15%/yr for FLDR.
Performance
FLCO vs. FLDR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLCO achieves a 0.59% return, which is significantly lower than FLDR's 1.44% return.
FLCO
- 1D
- 0.19%
- 1M
- 0.47%
- YTD
- 0.59%
- 6M
- 0.59%
- 1Y
- 5.18%
- 3Y*
- 5.11%
- 5Y*
- 0.21%
- 10Y*
- —
FLDR
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.44%
- 6M
- 1.76%
- 1Y
- 4.70%
- 3Y*
- 5.35%
- 5Y*
- 3.70%
- 10Y*
- —
FLCO vs. FLDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 0.59% | 7.53% | 1.93% | 7.94% | -16.08% | -2.06% | 10.01% | 14.82% | 0.56% |
FLDR Fidelity Low Duration Bond Factor ETF | 1.44% | 5.41% | 5.71% | 6.32% | -0.33% | -0.18% | 2.01% | 4.52% | 0.94% |
Correlation
The correlation between FLCO and FLDR is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2018 | 0.50 |
The correlation between FLCO and FLDR shifts across timeframes, from 0.49 (all time) to 0.70 (3 years), reflecting how their relationship changes across market environments.
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
FLCO vs. FLDR — Risk / Return Rank
FLCO
FLDR
FLCO vs. FLDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and Fidelity Low Duration Bond Factor ETF (FLDR). 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.
| FLCO | FLDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.69 | ||
| Sortino ratioReturn per unit of downside risk | -8.18 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 2.73 | -1.53 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 10.10 | -8.22 |
| Martin ratioReturn relative to average drawdown | 5.66 | 69.31 | -63.65 |
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
| FLCO | FLDR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 5.88 | -4.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 3.07 | -3.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.61 | -0.30 |
Drawdowns
FLCO vs. FLDR - Drawdown Comparison
The maximum FLCO drawdown since its inception was -22.71%, which is greater than FLDR's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for FLCO and FLDR.
Loading charts...
Drawdown Indicators
| FLCO | FLDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -12.23% | -10.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -0.47% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -6.59% | -0.76% | -5.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -2.33% | -20.15% |
Current DrawdownCurrent decline from peak | -2.18% | -0.02% | -2.16% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -0.35% | -5.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.07% | +0.85% |
Volatility
FLCO vs. FLDR - Volatility Comparison
Franklin Liberty Investment Grade Corporate ETF (FLCO) has a higher volatility of 1.42% compared to Fidelity Low Duration Bond Factor ETF (FLDR) at 0.19%. This indicates that FLCO's price experiences larger fluctuations and is considered to be riskier than FLDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FLCO | FLDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.19% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 0.58% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 0.80% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 1.21% | +5.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 5.26% | +1.57% |
FLCO vs. FLDR - Expense Ratio Comparison
FLCO has a 0.35% expense ratio, which is higher than FLDR's 0.15% expense ratio.
Dividends
FLCO vs. FLDR - Dividend Comparison
FLCO's dividend yield for the trailing twelve months is around 4.65%, more than FLDR's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 4.65% | 4.60% | 4.63% | 3.83% | 3.85% | 2.85% | 3.99% | 3.39% | 3.86% | 3.33% | 0.51% |
FLDR Fidelity Low Duration Bond Factor ETF | 4.43% | 4.66% | 5.50% | 5.28% | 2.09% | 0.51% | 1.22% | 2.69% | 1.38% | 0.00% | 0.00% |
Frequently Asked Questions
FLCO and FLDR have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLCO has higher volatility (1.42%) compared to FLDR (0.19%). In terms of maximum drawdown, FLCO dropped -22.71% vs FLDR's -12.23%.
On 5-year performance, FLDR leads with 3.70% vs 0.21% for FLCO. On fees, FLDR is cheaper at 0.15% per year. On volatility, FLDR has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLDR has performed better with a 3.70% return vs 0.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLDR is cheaper with a 0.15% expense ratio, compared with 0.35% for FLCO.
FLCO has the higher dividend yield at 4.65%, compared with 4.43% for FLDR.
They also come from different issuers: Franklin Templeton and Fidelity. Their fees differ too: 0.35% for FLCO and 0.15% for FLDR.
FLDR currently has the higher Sharpe Ratio (5.88 vs 1.19), 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 FLCO and FLDR
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