FLCO vs. IGBH
FLCO (Franklin Liberty Investment Grade Corporate ETF) and IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) are both Corporate Bonds funds. FLCO is actively managed, while IGBH is passively managed. Over the past 5 years, FLCO returned 0.21%/yr vs 5.30%/yr for IGBH. At a 0.26 correlation, their price movements are largely independent. FLCO charges 0.35%/yr vs 0.16%/yr for IGBH.
Performance
FLCO vs. IGBH - Performance Comparison
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Returns By Period
In the year-to-date period, FLCO achieves a 0.59% return, which is significantly lower than IGBH's 2.44% return.
FLCO
- 1D
- 0.19%
- 1M
- 0.47%
- YTD
- 0.59%
- 6M
- 0.59%
- 1Y
- 5.18%
- 3Y*
- 5.11%
- 5Y*
- 0.21%
- 10Y*
- —
IGBH
- 1D
- 0.12%
- 1M
- 1.52%
- YTD
- 2.44%
- 6M
- 3.11%
- 1Y
- 9.11%
- 3Y*
- 9.02%
- 5Y*
- 5.30%
- 10Y*
- 5.04%
FLCO vs. IGBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 0.59% | 7.53% | 1.93% | 7.94% | -16.08% | -2.06% | 10.01% | 14.82% | -3.06% | 5.98% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.44% | 7.90% | 7.80% | 12.12% | -2.82% | 2.20% | 1.09% | 9.62% | -4.54% | 9.36% |
Correlation
The correlation between FLCO and IGBH is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2016 | 0.26 |
Over the past year, FLCO and IGBH have become more correlated (0.46) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
FLCO vs. IGBH — Risk / Return Rank
FLCO
IGBH
FLCO vs. IGBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH). 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 | IGBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.44 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.16 | -0.27 |
| Martin ratioReturn relative to average drawdown | 5.66 | 7.90 | -2.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLCO | IGBH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.26 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.87 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.52 | -0.20 |
Drawdowns
FLCO vs. IGBH - Drawdown Comparison
The maximum FLCO drawdown since its inception was -22.71%, smaller than the maximum IGBH drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for FLCO and IGBH.
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Drawdown Indicators
| FLCO | IGBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -33.67% | +10.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -4.24% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -6.59% | -6.93% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -10.48% | -12.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.67% | — |
Current DrawdownCurrent decline from peak | -2.18% | -0.07% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -2.66% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.15% | -0.23% |
Volatility
FLCO vs. IGBH - Volatility Comparison
Franklin Liberty Investment Grade Corporate ETF (FLCO) has a higher volatility of 1.42% compared to iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) at 0.82%. This indicates that FLCO's price experiences larger fluctuations and is considered to be riskier than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCO | IGBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.82% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 3.14% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 4.05% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 6.13% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 9.20% | -2.37% |
FLCO vs. IGBH - Expense Ratio Comparison
FLCO has a 0.35% expense ratio, which is higher than IGBH's 0.16% expense ratio.
Dividends
FLCO vs. IGBH - Dividend Comparison
FLCO's dividend yield for the trailing twelve months is around 4.65%, less than IGBH's 5.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
Frequently Asked Questions
FLCO and IGBH have a correlation of 0.46, 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 IGBH (0.82%). In terms of maximum drawdown, FLCO dropped -22.71% vs IGBH's -33.67%.
On 5-year performance, IGBH leads with 5.30% vs 0.21% for FLCO. On fees, IGBH is cheaper at 0.16% per year. On volatility, IGBH has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGBH has performed better with a 5.30% return vs 0.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.35% for FLCO.
IGBH has the higher dividend yield at 5.66%, compared with 4.65% for FLCO.
They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.35% for FLCO and 0.16% for IGBH.
IGBH currently has the higher Sharpe Ratio (2.26 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.
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