FLEH vs. DIVI

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin FTSE Europe Hedged ETF (FLEH) and Franklin International Core Dividend Tilt Index ETF (DIVI).

FLEH and DIVI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLEH is a passively managed fund by Franklin Templeton that tracks the performance of the FTSE Developed Europe RIC Capped Index. It was launched on Nov 2, 2017. DIVI is an actively managed fund by Franklin Templeton. It was launched on Jun 1, 2016.

Performance

FLEH vs. DIVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Europe Hedged ETF (FLEH) and Franklin International Core Dividend Tilt Index ETF (DIVI). The values are adjusted to include any dividend payments, if applicable.

FLEH vs. DIVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEH Franklin FTSE Europe Hedged ETF	-2.81%	41.56%	2.26%	16.21%	-9.14%	23.27%	0.95%	26.94%	-8.54%	-1.24%
DIVI Franklin International Core Dividend Tilt Index ETF	2.64%	34.86%	1.77%	18.97%	-1.21%	16.95%	1.29%	22.98%	-6.73%	0.36%

Returns By Period

In the year-to-date period, FLEH achieves a -2.81% return, which is significantly lower than DIVI's 2.64% return.

FLEH

• 1D: 3.62%
• 1M: -9.14%
• YTD: -2.81%
• 6M: 1.86%
• 1Y: 21.11%
• 3Y*: 14.33%
• 5Y*: 10.90%
• 10Y*: —

DIVI

• 1D: 3.00%
• 1M: -7.06%
• YTD: 2.64%
• 6M: 8.63%
• 1Y: 27.28%
• 3Y*: 15.82%
• 5Y*: 12.65%
• 10Y*: —

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

FLEH vs. DIVI - Expense Ratio Comparison

Both FLEH and DIVI have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

FLEH

Franklin FTSE Europe Hedged ETF

DIVI

Franklin International Core Dividend Tilt Index ETF

Return for Risk

FLEH vs. DIVI — Risk / Return Rank

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

FLEH

FLEH Risk / Return Rank: 62
FLEH Sharpe Ratio Rank: 64
FLEH Sortino Ratio Rank: 66
FLEH Omega Ratio Rank: 63
FLEH Calmar Ratio Rank: 59
FLEH Martin Ratio Rank: 59

DIVI

DIVI Risk / Return Rank: 84
DIVI Sharpe Ratio Rank: 84
DIVI Sortino Ratio Rank: 85
DIVI Omega Ratio Rank: 84
DIVI Calmar Ratio Rank: 84
DIVI Martin Ratio Rank: 85

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.

FLEH vs. DIVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Europe Hedged ETF (FLEH) and Franklin International Core Dividend Tilt Index ETF (DIVI). 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.

	FLEH	DIVI	Difference
Sharpe ratio Return per unit of total volatility	1.10	1.59	-0.49
Sortino ratio Return per unit of downside risk	1.66	2.18	-0.52
Omega ratio Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio Return relative to maximum drawdown	1.48	2.31	-0.83
Martin ratio Return relative to average drawdown	5.76	9.28	-3.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLEH vs. DIVI - Sharpe Ratio Comparison

The current FLEH Sharpe Ratio is 1.10, which is lower than the DIVI Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FLEH and DIVI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLEH	DIVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	1.59	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.85	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.63	-0.11

Correlation

The correlation between FLEH and DIVI is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FLEH vs. DIVI - Dividend Comparison

FLEH's dividend yield for the trailing twelve months is around 2.29%, less than DIVI's 3.81% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLEH Franklin FTSE Europe Hedged ETF	2.29%	2.22%	3.18%	3.25%	21.45%	3.03%	1.94%	6.06%	12.17%	0.07%	0.00%
DIVI Franklin International Core Dividend Tilt Index ETF	3.81%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%

Drawdowns

FLEH vs. DIVI - Drawdown Comparison

The maximum FLEH drawdown since its inception was -33.94%, which is greater than DIVI's maximum drawdown of -27.76%. Use the drawdown chart below to compare losses from any high point for FLEH and DIVI.

Drawdown Indicators

	FLEH	DIVI	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-27.76%	-6.18%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-11.39%	-2.02%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	-18.53%	-0.14%
Current Drawdown Current decline from peak	-9.92%	-7.30%	-2.62%
Average Drawdown Average peak-to-trough decline	-4.73%	-3.66%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.83%	+0.62%

Volatility

FLEH vs. DIVI - Volatility Comparison

Franklin FTSE Europe Hedged ETF (FLEH) has a higher volatility of 8.86% compared to Franklin International Core Dividend Tilt Index ETF (DIVI) at 7.53%. This indicates that FLEH's price experiences larger fluctuations and is considered to be riskier than DIVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLEH	DIVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	7.53%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	10.71%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	17.24%	+2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	15.02%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	16.42%	+1.74%