FLEU vs. LVHD

Last updated Jun 3, 2026

FLEU (Franklin FTSE Eurozone ETF) and LVHD (Legg Mason Low Volatility High Dividend ETF) are both exchange-traded funds - FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net, while LVHD is a Volatility Hedged Equity fund tracking the QS Low Volatility High Dividend Index. Both are passively managed. Over the past 5 years, FLEU returned 12.08%/yr vs 6.16%/yr for LVHD. At a 0.45 correlation, their price movements are largely independent. FLEU charges 0.09%/yr vs 0.27%/yr for LVHD.

Performance

FLEU vs. LVHD - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FLEU having a 7.22% return and LVHD slightly lower at 6.87%.

FLEU

• 1D: 0.52%
• 1M: 3.45%
• YTD: 7.22%
• 6M: 10.70%
• 1Y: 19.04%
• 3Y*: 16.81%
• 5Y*: 12.08%
• 10Y*: —

LVHD

• 1D: 0.65%
• 1M: -1.96%
• YTD: 6.87%
• 6M: 7.02%
• 1Y: 9.87%
• 3Y*: 9.38%
• 5Y*: 6.16%
• 10Y*: 8.05%

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

FLEU vs. LVHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEU Franklin FTSE Eurozone ETF	7.22%	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	6.87%	7.50%	10.18%	-0.95%	-1.82%	26.90%	-1.28%	22.91%	-5.58%	4.28%

Correlation

The correlation between FLEU and LVHD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.45

The correlation between FLEU and LVHD shifts across timeframes, from 0.31 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.

FLEU vs. LVHD - Sectors Allocation Comparison

Sectors	FLEU	LVHD
Financial Services	24.8%	8.6%
Industrials	21.0%	4.6%
Technology	14.7%	5.9%
Consumer Cyclical	8.4%	6.8%
Utilities	7.1%	25.5%
Healthcare	5.8%	4.6%
Consumer Defensive	5.2%	18.5%
Basic Materials	4.3%	-
Energy	4.0%	6.7%
Communication Services	3.6%	3.8%
Real Estate	1.2%	15.0%

Return for Risk

FLEU vs. LVHD — Risk / Return Rank

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

FLEU

FLEU Risk / Return Rank: 32
FLEU Sharpe Ratio Rank: 31
FLEU Sortino Ratio Rank: 31
FLEU Omega Ratio Rank: 31
FLEU Calmar Ratio Rank: 30
FLEU Martin Ratio Rank: 36

LVHD

LVHD Risk / Return Rank: 29
LVHD Sharpe Ratio Rank: 29
LVHD Sortino Ratio Rank: 29
LVHD Omega Ratio Rank: 26
LVHD Calmar Ratio Rank: 32
LVHD Martin Ratio Rank: 29

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. LVHD - Risk-Adjusted Trends Comparison

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

	FLEU	LVHD	Difference
Sharpe ratio Return per unit of total volatility	1.13	1.04	+0.09
Sortino ratio Return per unit of downside risk	1.67	1.55	+0.12
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio Return relative to maximum drawdown	1.50	1.60	-0.10
Martin ratio Return relative to average drawdown	5.48	4.11	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLEU vs. LVHD - Sharpe Ratio Comparison

The current FLEU Sharpe Ratio is 1.13, which is comparable to the LVHD Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of FLEU and LVHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLEU	LVHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.04	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.48	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.56	+0.01

Drawdowns

FLEU vs. LVHD - Drawdown Comparison

The maximum FLEU 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 FLEU and LVHD.

Drawdown Indicators

	FLEU	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%	-6.17%	-7.24%
Max Drawdown (3Y) Largest decline over 3 years	-15.67%	-14.29%	-1.38%
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	-0.63%	-4.70%	+4.07%
Average Drawdown Average peak-to-trough decline	-4.71%	-4.05%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	2.40%	+1.28%

Volatility

FLEU vs. LVHD - Volatility Comparison

Franklin FTSE Eurozone ETF (FLEU) has a higher volatility of 7.12% compared to Legg Mason Low Volatility High Dividend ETF (LVHD) at 2.97%. This indicates that FLEU'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

	FLEU	LVHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.12%	2.97%	+4.15%
Volatility (6M) Calculated over the trailing 6-month period	14.35%	6.73%	+7.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	9.52%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	12.87%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	15.51%	+2.75%

FLEU vs. LVHD - Expense Ratio Comparison

FLEU 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%.

Dividends

FLEU vs. LVHD - Dividend Comparison

FLEU's dividend yield for the trailing twelve months is around 2.07%, less than LVHD's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLEU Franklin FTSE Eurozone ETF	2.07%	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	3.40%	3.35%	4.23%	3.55%	3.30%	2.56%	3.27%	3.30%	3.82%	3.33%	2.48%

Frequently Asked Questions

Can I hold both FLEU and LVHD in my portfolio?

FLEU and LVHD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLEU or LVHD?

FLEU has higher volatility (7.12%) compared to LVHD (2.97%). In terms of maximum drawdown, FLEU dropped -33.94% vs LVHD's -37.32%.

Which ETF is better, FLEU or LVHD?

On 5-year performance, FLEU leads with 12.08% vs 6.16% for LVHD. On fees, FLEU is cheaper at 0.09% per year. On volatility, LVHD has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLEU or LVHD?

Over the 5-year period, FLEU has performed better with a 12.08% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLEU or LVHD?

FLEU is cheaper with a 0.09% expense ratio, compared with 0.27% for LVHD.

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

LVHD has the higher dividend yield at 3.40%, compared with 2.07% for FLEU.

What is the main difference between FLEU and LVHD?

FLEU is categorized as Europe Equities, while LVHD is Volatility Hedged Equity. FLEU tracks FTSE Developed Eurozone Index - Benchmark TR Net, while LVHD tracks QS Low Volatility High Dividend Index. Their fees differ too: 0.09% for FLEU and 0.27% for LVHD.

Which has better risk-adjusted returns?

FLEU currently has the higher Sharpe Ratio (1.13 vs 1.04), 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.