FLEU vs. PIT

Last updated Jun 24, 2026

FLEU (Franklin FTSE Eurozone ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net, while PIT is a Commodities fund actively managed by VanEck. FLEU is passively managed, while PIT is actively managed. Over the past 3 years, FLEU returned 17.50%/yr vs 18.98%/yr for PIT. At a 0.08 correlation, their price movements are largely independent. FLEU charges 0.09%/yr vs 0.55%/yr for PIT.

Performance

FLEU vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Eurozone ETF (FLEU) and VanEck Commodity Strategy ETF (PIT). 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 PIT's 25.62% return.

FLEU

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

PIT

• 1D: -1.32%
• 1M: -11.78%
• YTD: 25.62%
• 6M: 23.58%
• 1Y: 39.64%
• 3Y*: 18.98%
• 5Y*: —
• 10Y*: —

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

FLEU vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLEU Franklin FTSE Eurozone ETF	7.40%	41.56%	2.26%	16.21%	-1.16%
PIT VanEck Commodity Strategy ETF	25.62%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between FLEU and PIT is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.08

The correlation between FLEU and PIT shifts across timeframes, from -0.13 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FLEU vs. PIT — 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

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 59
PIT Sortino Ratio Rank: 52
PIT Omega Ratio Rank: 56
PIT Calmar Ratio Rank: 56
PIT Martin Ratio Rank: 63

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. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Eurozone ETF (FLEU) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.85	-0.67
Sortino ratio: Return per unit of downside risk	1.75	2.40	-0.65
Omega ratio: Gain probability vs. loss probability	1.22	1.33	-0.11
Calmar ratio: Return relative to maximum drawdown	1.53	2.62	-1.09
Martin ratio: Return relative to average drawdown	5.57	10.88	-5.32

FLEU vs. PIT - Sharpe Ratio Comparison

The current FLEU Sharpe Ratio is 1.18, which is lower than the PIT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FLEU and PIT, 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. PIT - Drawdown Comparison

The maximum FLEU drawdown since its inception was -33.94%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for FLEU and PIT.

Drawdown Indicators

	FLEU	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-15.19%	-18.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-15.19%	+1.78%
Max Drawdown (3Y) Largest decline over 3 years	-15.67%	-15.19%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	—	—
Current Drawdown Current decline from peak	-2.00%	-15.19%	+13.19%
Average Drawdown Average peak-to-trough decline	-4.68%	-4.08%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	3.66%	+0.03%

Volatility

FLEU vs. PIT - Volatility Comparison

Franklin FTSE Eurozone ETF (FLEU) has a higher volatility of 5.38% compared to VanEck Commodity Strategy ETF (PIT) at 4.72%. This indicates that FLEU's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLEU	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.72%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	19.40%	-4.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	21.66%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	17.50%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	17.50%	+0.77%

FLEU vs. PIT - Expense Ratio Comparison

FLEU has a 0.09% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

FLEU vs. PIT - Dividend Comparison

FLEU's dividend yield for the trailing twelve months is around 1.08%, less than PIT's 7.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
PIT VanEck Commodity Strategy ETF	7.10%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLEU and PIT in my portfolio?

FLEU and PIT have a correlation of -0.13, 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 PIT?

FLEU has higher volatility (5.38%) compared to PIT (4.72%). In terms of maximum drawdown, FLEU dropped -33.94% vs PIT's -15.19%.

Which ETF is better, FLEU or PIT?

On 3-year performance, PIT leads with 18.98% vs 17.50% for FLEU. On fees, FLEU is cheaper at 0.09% per year. On volatility, PIT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLEU or PIT?

Over the 3-year period, PIT has performed better with a 18.98% return vs 17.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLEU or PIT?

FLEU is cheaper with a 0.09% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 7.10%, compared with 1.08% for FLEU.

What is the main difference between FLEU and PIT?

FLEU is categorized as Europe Equities, while PIT is Commodities. They also come from different issuers: Franklin Templeton and VanEck. Their fees differ too: 0.09% for FLEU and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.85 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.