FLEU vs. DIVI

Last updated Jun 24, 2026

FLEU (Franklin FTSE Eurozone ETF) and DIVI (Franklin International Core Dividend Tilt Index ETF) are both exchange-traded funds - FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net, while DIVI is a Foreign Large Cap Equities fund tracking the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Both are passively managed. Over the past 5 years, FLEU returned 11.75%/yr vs 13.30%/yr for DIVI. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.

Performance

FLEU vs. DIVI - Performance Comparison

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

Returns By Period

In the year-to-date period, FLEU achieves a 7.40% return, which is significantly lower than DIVI's 10.71% return.

FLEU

• 1D: -1.70%
• 1M: 1.76%
• YTD: 7.40%
• 6M: 7.90%
• 1Y: 20.48%
• 3Y*: 17.50%
• 5Y*: 11.75%
• 10Y*: —

DIVI

• 1D: -2.01%
• 1M: -0.05%
• YTD: 10.71%
• 6M: 10.37%
• 1Y: 26.90%
• 3Y*: 18.25%
• 5Y*: 13.30%
• 10Y*: 11.73%

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

FLEU vs. DIVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEU Franklin FTSE Eurozone ETF	7.40%	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	10.71%	34.86%	1.77%	18.97%	-1.21%	16.95%	1.29%	22.98%	-6.73%	0.62%

Correlation

The correlation between FLEU and DIVI is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.80

The correlation between FLEU and DIVI shifts across timeframes, from 0.80 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

FLEU vs. DIVI - Sectors Allocation Comparison

Sectors	FLEU	DIVI
Financial Services	24.6%	29.7%
Industrials	20.7%	17.3%
Technology	16.3%	12.2%
Consumer Cyclical	8.6%	7.1%
Utilities	6.6%	4.8%
Healthcare	5.6%	7.3%
Consumer Defensive	5.0%	6.4%
Basic Materials	4.2%	5.2%
Energy	3.7%	3.2%
Communication Services	3.6%	4.1%
Real Estate	1.2%	2.1%

Return for Risk

FLEU vs. DIVI — Risk / Return Rank

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

FLEU

FLEU Risk / Return Rank: 34
FLEU Sharpe Ratio Rank: 34
FLEU Sortino Ratio Rank: 35
FLEU Omega Ratio Rank: 34
FLEU Calmar Ratio Rank: 32
FLEU Martin Ratio Rank: 37

DIVI

DIVI Risk / Return Rank: 54
DIVI Sharpe Ratio Rank: 54
DIVI Sortino Ratio Rank: 53
DIVI Omega Ratio Rank: 52
DIVI Calmar Ratio Rank: 54
DIVI Martin Ratio Rank: 58

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. DIVI - Risk-Adjusted Trends Comparison

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

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.

	FLEU	DIVI	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.76	-0.59
Sortino ratio: Return per unit of downside risk	1.75	2.46	-0.72
Omega ratio: Gain probability vs. loss probability	1.22	1.31	-0.09
Calmar ratio: Return relative to maximum drawdown	1.53	2.56	-1.03
Martin ratio: Return relative to average drawdown	5.57	9.86	-4.29

FLEU vs. DIVI - Sharpe Ratio Comparison

The current FLEU Sharpe Ratio is 1.18, which is lower than the DIVI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FLEU and DIVI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLEU vs. DIVI - Drawdown Comparison

The maximum FLEU 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 FLEU and DIVI.

Drawdown Indicators

	FLEU	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%	-10.54%	-2.87%
Max Drawdown (3Y) Largest decline over 3 years	-15.67%	-14.58%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	-18.53%	-0.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.76%	—
Current Drawdown Current decline from peak	-2.00%	-2.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-4.68%	-3.62%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	2.73%	+0.96%

Volatility

FLEU vs. DIVI - Volatility Comparison

Franklin FTSE Eurozone ETF (FLEU) and Franklin International Core Dividend Tilt Index ETF (DIVI) have volatilities of 5.38% and 5.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLEU	DIVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	5.19%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	12.95%	+2.10%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	15.34%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	15.43%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	16.36%	+1.91%

FLEU vs. DIVI - Expense Ratio Comparison

Both FLEU 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%.

Dividends

FLEU vs. DIVI - Dividend Comparison

FLEU's dividend yield for the trailing twelve months is around 1.08%, less than DIVI's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVI Franklin International Core Dividend Tilt Index ETF	2.05%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%
FLEU Franklin FTSE Eurozone ETF	1.08%	2.22%	3.18%	3.25%	21.45%	3.03%	1.94%	6.06%	12.17%	0.07%	0.00%

Frequently Asked Questions

Can I hold both FLEU and DIVI in my portfolio?

With a correlation of 0.93, FLEU and DIVI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FLEU or DIVI?

FLEU has higher volatility (5.38%) compared to DIVI (5.19%). In terms of maximum drawdown, FLEU dropped -33.94% vs DIVI's -27.76%.

Which ETF is better, FLEU or DIVI?

On 5-year performance, DIVI leads with 13.30% vs 11.75% for FLEU. Both ETFs have the same 0.09% expense ratio. On volatility, DIVI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLEU or DIVI?

Over the 5-year period, DIVI has performed better with a 13.30% return vs 11.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLEU or DIVI?

FLEU and DIVI have the same expense ratio: 0.09% per year.

Which ETF pays a higher dividend yield, FLEU or DIVI?

DIVI has the higher dividend yield at 2.05%, compared with 1.08% for FLEU.

What is the main difference between FLEU and DIVI?

FLEU is categorized as Europe Equities, while DIVI is Foreign Large Cap Equities. FLEU tracks FTSE Developed Eurozone Index - Benchmark TR Net, while DIVI tracks Morningstar Developed Markets ex-North America Dividend Enhanced Select Index.

Which has better risk-adjusted returns?

DIVI currently has the higher Sharpe Ratio (1.76 vs 1.18), 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.