FLGB vs. FLJH

Last updated Jul 14, 2026

FLGB (Franklin FTSE United Kingdom ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both exchange-traded funds - FLGB is a Europe Equities fund tracking the FTSE UK RIC Capped Index, while FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. Over the past 5 years, FLGB returned 11.43%/yr vs 21.04%/yr for FLJH. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.

Performance

FLGB vs. FLJH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE United Kingdom ETF (FLGB) and Franklin FTSE Japan Hedged ETF (FLJH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLGB achieves a 6.88% return, which is significantly lower than FLJH's 21.27% return.

FLGB

• 1D: -0.50%
• 1M: -0.02%
• 6M: 4.43%
• YTD: 6.88%
• 1Y: 19.32%
• 3Y*: 17.22%
• 5Y*: 11.43%
• 10Y*: —

FLJH

• 1D: -1.74%
• 1M: 2.04%
• 6M: 14.20%
• YTD: 21.27%
• 1Y: 45.96%
• 3Y*: 27.94%
• 5Y*: 21.04%
• 10Y*: —

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

FLGB vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLGB Franklin FTSE United Kingdom ETF	6.88%	33.73%	8.77%	14.33%	-6.00%	17.14%	-9.47%	23.23%	-11.60%	1.12%
FLJH Franklin FTSE Japan Hedged ETF	21.27%	25.26%	25.89%	36.02%	-2.75%	12.68%	10.65%	20.34%	-14.66%	1.26%

Correlation

The correlation between FLGB and FLJH is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.52

The correlation between FLGB and FLJH has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.

FLGB vs. FLJH - Sectors Allocation Comparison

Sectors	FLGB	FLJH
Financial Services	27.5%	15.8%
Consumer Defensive	14.2%	4.0%
Healthcare	13.4%	5.5%
Industrials	13.4%	25.2%
Energy	9.5%	0.9%
Basic Materials	8.1%	4.4%
Consumer Cyclical	5.1%	12.7%
Utilities	4.7%	1.2%
Communication Services	2.4%	8.0%
Real Estate	0.9%	3.0%
Technology	0.6%	19.4%

Return for Risk

FLGB vs. FLJH — Risk / Return Rank

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

FLGB

FLGB Risk / Return Rank: 47
FLGB Sharpe Ratio Rank: 48
FLGB Sortino Ratio Rank: 48
FLGB Omega Ratio Rank: 46
FLGB Calmar Ratio Rank: 46
FLGB Martin Ratio Rank: 48

FLJH

FLJH Risk / Return Rank: 89
FLJH Sharpe Ratio Rank: 90
FLJH Sortino Ratio Rank: 88
FLJH Omega Ratio Rank: 89
FLJH Calmar Ratio Rank: 89
FLJH Martin Ratio Rank: 90

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.

FLGB vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE United Kingdom ETF (FLGB) and Franklin FTSE Japan Hedged ETF (FLJH). 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.

	FLGB	FLJH	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.41	-1.08
Sortino ratio: Return per unit of downside risk	1.95	3.20	-1.25
Omega ratio: Gain probability vs. loss probability	1.24	1.44	-0.20
Calmar ratio: Return relative to maximum drawdown	1.89	4.28	-2.39
Martin ratio: Return relative to average drawdown	6.35	16.18	-9.83

FLGB vs. FLJH - Sharpe Ratio Comparison

The current FLGB Sharpe Ratio is 1.33, which is lower than the FLJH Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FLGB and FLJH, 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

FLGB vs. FLJH - Drawdown Comparison

The maximum FLGB drawdown since its inception was -42.61%, which is greater than FLJH's maximum drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for FLGB and FLJH.

Drawdown Indicators

	FLGB	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-42.61%	-31.51%	-11.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-10.80%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-13.13%	-20.39%	+7.26%
Max Drawdown (5Y) Largest decline over 5 years	-25.90%	-20.39%	-5.51%
Current Drawdown Current decline from peak	-3.11%	-3.22%	+0.11%
Average Drawdown Average peak-to-trough decline	-6.65%	-5.28%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.85%	+0.20%

Volatility

FLGB vs. FLJH - Volatility Comparison

The current volatility for Franklin FTSE United Kingdom ETF (FLGB) is 4.47%, while Franklin FTSE Japan Hedged ETF (FLJH) has a volatility of 7.11%. This indicates that FLGB experiences smaller price fluctuations and is considered to be less risky than FLJH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLGB	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	7.11%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	15.13%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	19.20%	-4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	18.72%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.93%	19.88%	-0.95%

FLGB vs. FLJH - Expense Ratio Comparison

Both FLGB and FLJH 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

FLGB vs. FLJH - Dividend Comparison

FLGB's dividend yield for the trailing twelve months is around 2.97%, more than FLJH's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLGB Franklin FTSE United Kingdom ETF	2.97%	3.50%	4.42%	3.95%	4.23%	2.93%	2.67%	4.30%	3.92%	0.43%
FLJH Franklin FTSE Japan Hedged ETF	2.48%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%

Frequently Asked Questions

Can I hold both FLGB and FLJH in my portfolio?

FLGB and FLJH have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLGB or FLJH?

FLJH has higher volatility (7.11%) compared to FLGB (4.47%). In terms of maximum drawdown, FLGB dropped -42.61% vs FLJH's -31.51%.

Which ETF is better, FLGB or FLJH?

On 5-year performance, FLJH leads with 21.04% vs 11.43% for FLGB. Both ETFs have the same 0.09% expense ratio. On volatility, FLGB has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLGB or FLJH?

Over the 5-year period, FLJH has performed better with a 21.04% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGB or FLJH?

FLGB and FLJH have the same expense ratio: 0.09% per year.

Which ETF pays a higher dividend yield, FLGB or FLJH?

FLGB has the higher dividend yield at 2.97%, compared with 2.48% for FLJH.

What is the main difference between FLGB and FLJH?

FLGB is categorized as Europe Equities, while FLJH is Japan Equities. FLGB tracks FTSE UK RIC Capped Index, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index.

Which has better risk-adjusted returns?

FLJH currently has the higher Sharpe Ratio (2.41 vs 1.33), 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.