FLES.L vs. FRXE.L
FLES.L (Franklin Euro Short Maturity UCITS ETF) and FRXE.L (Franklin Euro Short Maturity UCITS ETF) are both Global Equities funds from Franklin tracking the Franklin Euro Short Maturity UCITS ETF. Both are passively managed. Over the past 5 years, FLES.L returned 2.20%/yr vs 2.27%/yr for FRXE.L. At a 0.22 correlation, their price movements are largely independent.
Performance
FLES.L vs. FRXE.L - Performance Comparison
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Different Trading Currencies
FLES.L is traded in EUR, while FRXE.L is traded in GBP. To make them comparable, the FRXE.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with FLES.L at 0.86% and FRXE.L at 0.86%.
FLES.L
- 1D
- 0.04%
- 1M
- 0.08%
- 6M
- 0.82%
- YTD
- 0.86%
- 1Y
- 1.80%
- 3Y*
- 3.16%
- 5Y*
- 2.20%
- 10Y*
- —
FRXE.L
- 1D
- 0.14%
- 1M
- 0.17%
- 6M
- 0.83%
- YTD
- 0.86%
- 1Y
- 1.84%
- 3Y*
- 3.22%
- 5Y*
- 2.27%
- 10Y*
- —
FLES.L vs. FRXE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLES.L Franklin Euro Short Maturity UCITS ETF | 0.86% | 2.37% | 4.21% | 3.29% | 0.14% | 0.12% | -0.12% | 0.52% | -0.44% |
FRXE.L Franklin Euro Short Maturity UCITS ETF | 0.86% | 2.09% | 4.32% | 3.43% | 0.24% | -0.27% | -0.29% | 1.55% | -12.54% |
Correlation
The correlation between FLES.L and FRXE.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.22 |
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Return for Risk
FLES.L vs. FRXE.L — Risk / Return Rank
FLES.L
FRXE.L
FLES.L vs. FRXE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Euro Short Maturity UCITS ETF (FLES.L) and Franklin Euro Short Maturity UCITS ETF (FRXE.L). 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.
| FLES.L | FRXE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.14 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 5.16 | 2.49 | +2.67 |
| Martin ratioReturn relative to average drawdown | 14.62 | 8.68 | +5.94 |
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Drawdowns
FLES.L vs. FRXE.L - Drawdown Comparison
The maximum FLES.L drawdown since its inception was -4.50%, smaller than the maximum FRXE.L drawdown of -16.03%. Use the drawdown chart below to compare losses from any high point for FLES.L and FRXE.L.
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Drawdown Indicators
| FLES.L | FRXE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.50% | -16.03% | +11.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.35% | -0.72% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -0.35% | -1.20% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -0.88% | -2.37% | +1.49% |
Current DrawdownCurrent decline from peak | -0.12% | -1.63% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -9.41% | +8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.21% | -0.09% |
Volatility
FLES.L vs. FRXE.L - Volatility Comparison
The current volatility for Franklin Euro Short Maturity UCITS ETF (FLES.L) is 0.30%, while Franklin Euro Short Maturity UCITS ETF (FRXE.L) has a volatility of 0.48%. This indicates that FLES.L experiences smaller price fluctuations and is considered to be less risky than FRXE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLES.L | FRXE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 0.48% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.71% | 1.69% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.87% | 2.22% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.80% | 3.03% | -2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.19% | 5.60% | -4.41% |
Dividends
FLES.L vs. FRXE.L - Dividend Comparison
FLES.L's dividend yield for the trailing twelve months is around 1.92%, less than FRXE.L's 1.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLES.L Franklin Euro Short Maturity UCITS ETF | 1.92% | 2.62% | 2.55% | 1.20% | 0.26% |
FRXE.L Franklin Euro Short Maturity UCITS ETF | 1.94% | 2.54% | 2.59% | 1.19% | 0.25% |
Frequently Asked Questions
FLES.L and FRXE.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs track Franklin Euro Short Maturity UCITS ETF.
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