FLGB vs. IEUR

Last updated Jun 6, 2026

FLGB (Franklin FTSE United Kingdom ETF) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds - FLGB tracks the FTSE UK RIC Capped Index while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Over the past 5 years, FLGB returned 10.55%/yr vs 7.85%/yr for IEUR. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.

Performance

FLGB vs. IEUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE United Kingdom ETF (FLGB) and iShares Core MSCI Europe ETF (IEUR). 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 FLGB having a 4.93% return and IEUR slightly lower at 4.76%.

FLGB

• 1D: -1.10%
• 1M: -2.39%
• YTD: 4.93%
• 6M: 8.94%
• 1Y: 18.89%
• 3Y*: 17.48%
• 5Y*: 10.55%
• 10Y*: —

IEUR

• 1D: -2.00%
• 1M: -2.25%
• YTD: 4.76%
• 6M: 7.75%
• 1Y: 15.55%
• 3Y*: 15.86%
• 5Y*: 7.85%
• 10Y*: 8.94%

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

FLGB vs. IEUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLGB Franklin FTSE United Kingdom ETF	4.93%	33.73%	8.77%	14.33%	-6.00%	17.14%	-9.47%	23.23%	-11.60%	1.12%
IEUR iShares Core MSCI Europe ETF	4.76%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	1.33%

Correlation

The correlation between FLGB and IEUR is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.88

The correlation between FLGB and IEUR has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

FLGB vs. IEUR - Sectors Allocation Comparison

Sectors	FLGB	IEUR
Financial Services	24.2%	22.5%
Industrials	14.2%	20.4%
Consumer Defensive	14.0%	8.0%
Healthcare	13.6%	12.5%
Energy	11.8%	5.3%
Basic Materials	8.6%	5.8%
Utilities	5.3%	4.8%
Consumer Cyclical	4.4%	6.9%
Communication Services	2.6%	3.8%
Real Estate	0.7%	1.6%
Technology	0.7%	8.4%

Return for Risk

FLGB vs. IEUR — Risk / Return Rank

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

FLGB

FLGB Risk / Return Rank: 40
FLGB Sharpe Ratio Rank: 39
FLGB Sortino Ratio Rank: 39
FLGB Omega Ratio Rank: 38
FLGB Calmar Ratio Rank: 39
FLGB Martin Ratio Rank: 43

IEUR

IEUR Risk / Return Rank: 29
IEUR Sharpe Ratio Rank: 29
IEUR Sortino Ratio Rank: 28
IEUR Omega Ratio Rank: 28
IEUR Calmar Ratio Rank: 27
IEUR Martin Ratio Rank: 33

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. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE United Kingdom ETF (FLGB) and iShares Core MSCI Europe ETF (IEUR). 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.

	FLGB	IEUR	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.01	+0.32
Sortino ratio: Return per unit of downside risk	1.92	1.50	+0.42
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.06
Calmar ratio: Return relative to maximum drawdown	1.85	1.30	+0.55
Martin ratio: Return relative to average drawdown	6.73	4.86	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLGB vs. IEUR - Sharpe Ratio Comparison

The current FLGB Sharpe Ratio is 1.33, which is higher than the IEUR Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of FLGB and IEUR, 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

	FLGB	IEUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.01	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.44	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.35	+0.07

Drawdowns

FLGB vs. IEUR - Drawdown Comparison

The maximum FLGB drawdown since its inception was -42.61%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for FLGB and IEUR.

Drawdown Indicators

	FLGB	IEUR	Difference
Max Drawdown Largest peak-to-trough decline	-42.61%	-36.96%	-5.65%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-12.04%	+1.78%
Max Drawdown (3Y) Largest decline over 3 years	-13.13%	-14.25%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.90%	-32.75%	+6.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.96%	—
Current Drawdown Current decline from peak	-4.88%	-3.11%	-1.77%
Average Drawdown Average peak-to-trough decline	-6.69%	-8.22%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.21%	-0.40%

Volatility

FLGB vs. IEUR - Volatility Comparison

Franklin FTSE United Kingdom ETF (FLGB) and iShares Core MSCI Europe ETF (IEUR) have volatilities of 5.31% and 5.24%, 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

	FLGB	IEUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	5.24%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.14%	12.95%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	15.46%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	17.75%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.97%	18.69%	+0.28%

FLGB vs. IEUR - Expense Ratio Comparison

Both FLGB and IEUR 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. IEUR - Dividend Comparison

FLGB's dividend yield for the trailing twelve months is around 3.33%, more than IEUR's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLGB Franklin FTSE United Kingdom ETF	3.33%	3.50%	4.42%	3.95%	4.23%	2.93%	2.67%	4.30%	3.92%	0.43%	0.00%	0.00%
IEUR iShares Core MSCI Europe ETF	2.84%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%

Frequently Asked Questions

Can I hold both FLGB and IEUR in my portfolio?

FLGB and IEUR have a correlation of 0.88, 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 IEUR?

FLGB has higher volatility (5.31%) compared to IEUR (5.24%). In terms of maximum drawdown, FLGB dropped -42.61% vs IEUR's -36.96%.

Which ETF is better, FLGB or IEUR?

On 5-year performance, FLGB leads with 10.55% vs 7.85% for IEUR. Both ETFs have the same 0.09% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLGB or IEUR?

Over the 5-year period, FLGB has performed better with a 10.55% return vs 7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGB or IEUR?

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

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

FLGB has the higher dividend yield at 3.33%, compared with 2.84% for IEUR.

What is the main difference between FLGB and IEUR?

FLGB tracks FTSE UK RIC Capped Index, while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: Franklin Templeton and iShares.

Which has better risk-adjusted returns?

FLGB currently has the higher Sharpe Ratio (1.33 vs 1.01), 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.