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FLEU vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLEU vs. ACWI

Last updated Jun 14, 2026

FLEU (Franklin FTSE Eurozone ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 5 years, FLEU returned 12.00%/yr vs 10.88%/yr for ACWI. A 0.72 correlation means they provide meaningful diversification when combined. FLEU charges 0.09%/yr vs 0.32%/yr for ACWI.

Performance

FLEU vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Eurozone ETF (FLEU) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FLEU achieves a 8.48% return, which is significantly lower than ACWI's 10.59% return.

FLEU

1D
0.10%
1M
6.06%
YTD
8.48%
6M
10.20%
1Y
21.67%
3Y*
17.22%
5Y*
12.00%
10Y*
—

ACWI

1D
0.41%
1M
1.55%
YTD
10.59%
6M
11.34%
1Y
26.86%
3Y*
19.78%
5Y*
10.88%
10Y*
13.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLEU vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLEU
Franklin FTSE Eurozone ETF		8.48%41.56%2.26%16.21%-9.14%23.27%0.95%26.94%-8.54%-1.24%
ACWI
iShares MSCI ACWI ETF		10.59%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%3.07%

Correlation

The correlation between FLEU and ACWI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.79

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.72

The correlation between FLEU and ACWI shifts across timeframes, from 0.72 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.

FLEU vs. ACWI - Sectors Allocation Comparison

Sectors
FLEU
ACWI

Financial Services

24.6%
15.6%

Industrials

20.7%
10.2%

Technology

16.3%
32.2%

Consumer Cyclical

8.6%
8.7%

Utilities

6.6%
2.7%

Healthcare

5.6%
8.1%

Consumer Defensive

5.0%
4.7%

Basic Materials

4.2%
3.6%

Energy

3.7%
3.9%

Communication Services

3.6%
8.2%

Real Estate

1.2%
1.6%

Financial Services

FLEU
24.6%
ACWI
15.6%

Industrials

FLEU
20.7%
ACWI
10.2%

Technology

FLEU
16.3%
ACWI
32.2%

Consumer Cyclical

FLEU
8.6%
ACWI
8.7%

Utilities

FLEU
6.6%
ACWI
2.7%

Healthcare

FLEU
5.6%
ACWI
8.1%

Consumer Defensive

FLEU
5.0%
ACWI
4.7%

Basic Materials

FLEU
4.2%
ACWI
3.6%

Energy

FLEU
3.7%
ACWI
3.9%

Communication Services

FLEU
3.6%
ACWI
8.2%

Real Estate

FLEU
1.2%
ACWI
1.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE Eurozone ETF

iShares MSCI ACWI ETF

Often compared with FLEU:
FLEU vs. FLGRFLEU vs. VGKFLEU vs. FLEEFLEU vs. ARGFXFLEU vs. VEUFLEU vs. SPYFLEU vs. SWPPX
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

FLEU vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLEU
FLEU Risk / Return Rank: 3636
Overall Rank
FLEU Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
FLEU Sortino Ratio Rank: 3636
Sortino Ratio Rank
FLEU Omega Ratio Rank: 3535
Omega Ratio Rank
FLEU Calmar Ratio Rank: 3434
Calmar Ratio Rank
FLEU Martin Ratio Rank: 3939
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6767
Overall Rank
ACWI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6666
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6767
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6161
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7171
Martin Ratio Rank
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.

FLEU vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Eurozone ETF (FLEU) and iShares MSCI ACWI ETF (ACWI). 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.

FLEUACWIDifference
Sharpe ratioReturn per unit of total volatility
1.13
1.90

-0.77

Sortino ratioReturn per unit of downside risk
1.69
2.62

-0.93

Omega ratioGain probability vs. loss probability

1.21

1.35

-0.14

Calmar ratioReturn relative to maximum drawdown

1.49

2.62

-1.14

Martin ratioReturn relative to average drawdown

5.38

11.46

-6.08

FLEU vs. ACWI - Sharpe Ratio Comparison

The current FLEU Sharpe Ratio is 1.13, which is lower than the ACWI Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FLEU and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLEU vs. ACWI - Drawdown Comparison

The maximum FLEU drawdown since its inception was -33.94%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for FLEU and ACWI.

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Drawdown Indicators

FLEUACWIDifference

Max Drawdown

Largest peak-to-trough decline

-33.94%

-56.00%

+22.06%

Max Drawdown (1Y)

Largest decline over 1 year

-13.41%

-9.73%

-3.68%

Max Drawdown (3Y)

Largest decline over 3 years

-15.67%

-16.55%

+0.88%

Max Drawdown (5Y)

Largest decline over 5 years

-18.67%

-26.42%

+7.75%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.53%

—

Current Drawdown

Current decline from peak

0.00%

-2.19%

+2.19%

Average Drawdown

Average peak-to-trough decline

-4.70%

-8.60%

+3.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.70%

2.22%

+1.48%

Volatility

FLEU vs. ACWI - Volatility Comparison

Franklin FTSE Eurozone ETF (FLEU) has a higher volatility of 6.04% compared to iShares MSCI ACWI ETF (ACWI) at 5.17%. This indicates that FLEU's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLEUACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

5.17%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

15.01%

11.09%

+3.92%

Volatility (1Y)

Calculated over the trailing 1-year period

17.59%

13.42%

+4.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.45%

16.15%

+0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.29%

17.14%

+1.15%

FLEU vs. ACWI - Expense Ratio Comparison

FLEU has a 0.09% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

FLEU vs. ACWI - Dividend Comparison

FLEU's dividend yield for the trailing twelve months is around 2.05%, more than ACWI's 1.40% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.40%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
FLEU
Franklin FTSE Eurozone ETF		2.05%2.22%3.18%3.25%21.45%3.03%1.94%6.06%12.17%0.07%0.00%0.00%

Frequently Asked Questions

FLEU and ACWI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLEU has higher volatility (6.04%) compared to ACWI (5.17%). In terms of maximum drawdown, FLEU dropped -33.94% vs ACWI's -56.00%.

On 5-year performance, FLEU leads with 12.00% vs 10.88% for ACWI. On fees, FLEU is cheaper at 0.09% per year. On volatility, ACWI has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLEU has performed better with a 12.00% return vs 10.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLEU is cheaper with a 0.09% expense ratio, compared with 0.32% for ACWI.

FLEU has the higher dividend yield at 2.05%, compared with 1.40% for ACWI.

FLEU is categorized as Europe Equities, while ACWI is Global Equities. FLEU tracks FTSE Developed Eurozone Index - Benchmark TR Net, while ACWI tracks MSCI All Country World Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLEU and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (1.90 vs 1.13), 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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