FLEH vs. LVHD

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin FTSE Europe Hedged ETF (FLEH) and Legg Mason Low Volatility High Dividend ETF (LVHD).

FLEH and LVHD 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. LVHD is a passively managed fund by Franklin Templeton that tracks the performance of the QS Low Volatility High Dividend Index. It was launched on Dec 29, 2015. Both FLEH and LVHD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FLEH vs. LVHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Europe Hedged ETF (FLEH) and Legg Mason Low Volatility High Dividend ETF (LVHD). The values are adjusted to include any dividend payments, if applicable.

FLEH vs. LVHD - 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%
LVHD Legg Mason Low Volatility High Dividend ETF	6.93%	7.50%	10.18%	-0.95%	-1.82%	26.90%	-1.28%	22.91%	-5.58%	4.28%

Returns By Period

In the year-to-date period, FLEH achieves a -2.81% return, which is significantly lower than LVHD's 6.93% return.

FLEH

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

LVHD

• 1D: 0.34%
• 1M: -4.58%
• YTD: 6.93%
• 6M: 4.97%
• 1Y: 7.44%
• 3Y*: 8.53%
• 5Y*: 7.59%
• 10Y*: 8.20%

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

FLEH vs. LVHD - Expense Ratio Comparison

FLEH has a 0.09% expense ratio, which is lower than LVHD's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

LVHD

Legg Mason Low Volatility High Dividend ETF

FLEH

Franklin FTSE Europe Hedged ETF

Return for Risk

FLEH vs. LVHD — 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

LVHD

LVHD Risk / Return Rank: 37
LVHD Sharpe Ratio Rank: 36
LVHD Sortino Ratio Rank: 34
LVHD Omega Ratio Rank: 32
LVHD Calmar Ratio Rank: 43
LVHD Martin Ratio Rank: 41

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. LVHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Europe Hedged ETF (FLEH) and Legg Mason Low Volatility High Dividend ETF (LVHD). 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	LVHD	Difference
Sharpe ratio Return per unit of total volatility	1.10	0.62	+0.48
Sortino ratio Return per unit of downside risk	1.66	0.94	+0.72
Omega ratio Gain probability vs. loss probability	1.23	1.12	+0.10
Calmar ratio Return relative to maximum drawdown	1.48	1.02	+0.46
Martin ratio Return relative to average drawdown	5.76	3.64	+2.12
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. LVHD - Sharpe Ratio Comparison

The current FLEH Sharpe Ratio is 1.10, which is higher than the LVHD Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of FLEH and LVHD, 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	LVHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	0.62	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.59	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.57	-0.05

Correlation

The correlation between FLEH and LVHD is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FLEH vs. LVHD - Dividend Comparison

FLEH's dividend yield for the trailing twelve months is around 2.29%, less than LVHD's 3.19% 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%
LVHD Legg Mason Low Volatility High Dividend ETF	3.19%	3.35%	4.23%	3.55%	3.30%	2.56%	3.27%	3.30%	3.82%	3.33%	2.48%

Drawdowns

FLEH vs. LVHD - Drawdown Comparison

The maximum FLEH drawdown since its inception was -33.94%, smaller than the maximum LVHD drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for FLEH and LVHD.

Drawdown Indicators

	FLEH	LVHD	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-37.32%	+3.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-8.52%	-4.89%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	-16.75%	-1.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.32%	—
Current Drawdown Current decline from peak	-9.92%	-4.66%	-5.26%
Average Drawdown Average peak-to-trough decline	-4.73%	-4.05%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.47%	+0.98%

Volatility

FLEH vs. LVHD - Volatility Comparison

Franklin FTSE Europe Hedged ETF (FLEH) has a higher volatility of 8.86% compared to Legg Mason Low Volatility High Dividend ETF (LVHD) at 2.83%. This indicates that FLEH's price experiences larger fluctuations and is considered to be riskier than LVHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLEH	LVHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	2.83%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	6.53%	+5.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	12.07%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	12.87%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	15.50%	+2.66%