FLEU vs. SWPPX

Last updated Jun 24, 2026

FLEU (Franklin FTSE Eurozone ETF) and SWPPX (Schwab S&P 500 Index Fund) are both funds - FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, FLEU returned 11.75%/yr vs 13.58%/yr for SWPPX. A 0.64 correlation means they provide meaningful diversification when combined. FLEU charges 0.09%/yr vs 0.02%/yr for SWPPX.

Performance

FLEU vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Eurozone ETF (FLEU) and Schwab S&P 500 Index Fund (SWPPX). 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 SWPPX's 9.75% return.

FLEU

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

SWPPX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.75%
• 6M: 8.76%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

FLEU vs. SWPPX - 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%
SWPPX Schwab S&P 500 Index Fund	9.75%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	3.70%

Correlation

The correlation between FLEU and SWPPX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.64

The correlation between FLEU and SWPPX has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.

FLEU vs. SWPPX - Sectors Allocation Comparison

Sectors	FLEU	SWPPX
Financial Services	24.6%	11.1%
Industrials	20.7%	7.8%
Technology	16.3%	39.0%
Consumer Cyclical	8.6%	9.9%
Utilities	6.6%	2.1%
Healthcare	5.6%	8.3%
Consumer Defensive	5.0%	4.5%
Basic Materials	4.2%	1.7%
Energy	3.7%	3.1%
Communication Services	3.6%	10.6%
Real Estate	1.2%	1.8%

Return for Risk

FLEU vs. SWPPX — 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

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 56
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 78

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. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Eurozone ETF (FLEU) and Schwab S&P 500 Index Fund (SWPPX). 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	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.14	-0.97
Sortino ratio: Return per unit of downside risk	1.75	2.89	-1.14
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.53	3.02	-1.48
Martin ratio: Return relative to average drawdown	5.57	13.59	-8.02

FLEU vs. SWPPX - Sharpe Ratio Comparison

The current FLEU Sharpe Ratio is 1.18, which is lower than the SWPPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of FLEU and SWPPX, 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. SWPPX - Drawdown Comparison

The maximum FLEU drawdown since its inception was -33.94%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for FLEU and SWPPX.

Drawdown Indicators

	FLEU	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-55.06%	+21.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-8.89%	-4.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.67%	-18.74%	+3.07%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	-24.51%	+5.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-2.00%	-1.74%	-0.26%
Average Drawdown Average peak-to-trough decline	-4.68%	-9.93%	+5.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	1.97%	+1.72%

Volatility

FLEU vs. SWPPX - Volatility Comparison

Franklin FTSE Eurozone ETF (FLEU) has a higher volatility of 5.38% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.73%. This indicates that FLEU's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLEU	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.73%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	9.87%	+5.18%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	12.53%	+5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	17.02%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	18.27%	0.00%

FLEU vs. SWPPX - Expense Ratio Comparison

FLEU has a 0.09% expense ratio, which is higher than SWPPX's 0.02% expense ratio. However, 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. SWPPX - Dividend Comparison

FLEU's dividend yield for the trailing twelve months is around 1.08%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both FLEU and SWPPX in my portfolio?

FLEU and SWPPX have a correlation of 0.74, 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 SWPPX?

FLEU has higher volatility (5.38%) compared to SWPPX (4.73%). In terms of maximum drawdown, FLEU dropped -33.94% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.14 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.