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FLGR vs. EWD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLGR vs. EWD

Last updated Jun 25, 2026

FLGR (Franklin FTSE Germany ETF) and EWD (iShares MSCI Sweden ETF) are both Europe Equities funds - FLGR tracks the FTSE Germany RIC Capped Index while EWD tracks the MSCI Sweden Index. Both are passively managed. Over the past 5 years, FLGR returned 6.08%/yr vs 4.08%/yr for EWD. A 0.79 correlation means they provide meaningful diversification when combined. FLGR charges 0.09%/yr vs 0.55%/yr for EWD.

Performance

FLGR vs. EWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Germany ETF (FLGR) and iShares MSCI Sweden ETF (EWD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FLGR achieves a -2.86% return, which is significantly lower than EWD's 1.51% return.

FLGR

1D
-1.28%
1M
-3.55%
YTD
-2.86%
6M
-3.03%
1Y
-0.38%
3Y*
16.15%
5Y*
6.08%
10Y*
—

EWD

1D
0.08%
1M
-4.68%
YTD
1.51%
6M
1.35%
1Y
12.56%
3Y*
16.27%
5Y*
4.08%
10Y*
9.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLGR vs. EWD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLGR
Franklin FTSE Germany ETF		-2.86%36.67%10.63%24.22%-21.96%5.40%12.11%19.99%-21.50%-0.16%
EWD
iShares MSCI Sweden ETF		1.51%36.55%-3.90%25.07%-27.84%22.84%22.27%21.74%-12.78%-3.69%

Correlation

The correlation between FLGR and EWD is 0.81, 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

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.79

The correlation between FLGR and EWD has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

FLGR vs. EWD - Sectors Allocation Comparison

Sectors
FLGR
EWD

Industrials

29.9%
45.3%

Financial Services

20.5%
24.1%

Technology

16.1%
7.5%

Consumer Cyclical

8.7%
2.4%

Communication Services

6.4%
13.2%

Healthcare

5.6%
1.2%

Basic Materials

5.6%
3.1%

Utilities

4.5%

-

Consumer Defensive

1.4%
2.2%

Real Estate

1.2%
1.1%

Energy

-

-

Industrials

FLGR
29.9%
EWD
45.3%

Financial Services

FLGR
20.5%
EWD
24.1%

Technology

FLGR
16.1%
EWD
7.5%

Consumer Cyclical

FLGR
8.7%
EWD
2.4%

Communication Services

FLGR
6.4%
EWD
13.2%

Healthcare

FLGR
5.6%
EWD
1.2%

Basic Materials

FLGR
5.6%
EWD
3.1%

Utilities

FLGR
4.5%
EWD

-

Consumer Defensive

FLGR
1.4%
EWD
2.2%

Real Estate

FLGR
1.2%
EWD
1.1%

Energy

FLGR

-

EWD

-

Compare stocks, funds, or ETFs

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Franklin FTSE Germany ETF

iShares MSCI Sweden ETF

Often compared with FLGR:
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Often compared with EWD:
EWD vs. EWGEWD vs. NORWEWD vs. EWCEWD vs. EWNEWD vs. VOOEWD vs. OMXS.LEWD vs. QQQ

Return for Risk

FLGR vs. EWD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLGR
FLGR Risk / Return Rank: 99
Overall Rank
FLGR Sharpe Ratio Rank: 99
Sharpe Ratio Rank
FLGR Sortino Ratio Rank: 88
Sortino Ratio Rank
FLGR Omega Ratio Rank: 88
Omega Ratio Rank
FLGR Calmar Ratio Rank: 99
Calmar Ratio Rank
FLGR Martin Ratio Rank: 88
Martin Ratio Rank
EWD
EWD Risk / Return Rank: 2020
Overall Rank
EWD Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
EWD Sortino Ratio Rank: 1919
Sortino Ratio Rank
EWD Omega Ratio Rank: 1919
Omega Ratio Rank
EWD Calmar Ratio Rank: 2121
Calmar Ratio Rank
EWD Martin Ratio Rank: 2424
Martin Ratio Rank
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.

FLGR vs. EWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Germany ETF (FLGR) and iShares MSCI Sweden ETF (EWD). 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.

FLGREWDDifference
Sharpe ratioReturn per unit of total volatility
-0.02
0.62

-0.65

Sortino ratioReturn per unit of downside risk
0.09
1.00

-0.91

Omega ratioGain probability vs. loss probability

1.01

1.12

-0.11

Calmar ratioReturn relative to maximum drawdown

-0.03

0.87

-0.90

Martin ratioReturn relative to average drawdown

-0.07

2.81

-2.89

FLGR vs. EWD - Sharpe Ratio Comparison

The current FLGR Sharpe Ratio is -0.02, which is lower than the EWD Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of FLGR and EWD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLGR vs. EWD - Drawdown Comparison

The maximum FLGR drawdown since its inception was -46.21%, smaller than the maximum EWD drawdown of -75.40%. Use the drawdown chart below to compare losses from any high point for FLGR and EWD.

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Drawdown Indicators

FLGREWDDifference

Max Drawdown

Largest peak-to-trough decline

-46.21%

-75.40%

+29.19%

Max Drawdown (1Y)

Largest decline over 1 year

-14.44%

-14.49%

+0.05%

Max Drawdown (3Y)

Largest decline over 3 years

-15.53%

-17.84%

+2.31%

Max Drawdown (5Y)

Largest decline over 5 years

-42.69%

-42.33%

-0.36%

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.33%

—

Current Drawdown

Current decline from peak

-7.40%

-8.67%

+1.27%

Average Drawdown

Average peak-to-trough decline

-12.32%

-19.20%

+6.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.17%

4.47%

+0.70%

Volatility

FLGR vs. EWD - Volatility Comparison

The current volatility for Franklin FTSE Germany ETF (FLGR) is 5.40%, while iShares MSCI Sweden ETF (EWD) has a volatility of 6.65%. This indicates that FLGR experiences smaller price fluctuations and is considered to be less risky than EWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLGREWDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.40%

6.65%

-1.25%

Volatility (6M)

Calculated over the trailing 6-month period

14.60%

17.18%

-2.58%

Volatility (1Y)

Calculated over the trailing 1-year period

17.51%

20.33%

-2.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.32%

24.00%

-3.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.41%

23.22%

-1.81%

FLGR vs. EWD - Expense Ratio Comparison

FLGR has a 0.09% expense ratio, which is lower than EWD's 0.55% expense ratio.

Dividends

FLGR vs. EWD - Dividend Comparison

FLGR's dividend yield for the trailing twelve months is around 0.33%, less than EWD's 3.68% yield.

PositionTTM20252024202320222021202020192018201720162015
EWD
iShares MSCI Sweden ETF		3.68%3.27%1.77%2.41%3.68%5.46%0.98%4.15%5.17%3.23%3.91%4.08%
FLGR
Franklin FTSE Germany ETF		0.33%1.72%2.40%2.99%3.50%2.67%2.61%2.52%3.06%0.00%0.00%0.00%

Frequently Asked Questions

FLGR and EWD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWD has higher volatility (6.65%) compared to FLGR (5.40%). In terms of maximum drawdown, FLGR dropped -46.21% vs EWD's -75.40%.

On 5-year performance, FLGR leads with 6.08% vs 4.08% for EWD. On fees, FLGR is cheaper at 0.09% per year. On volatility, FLGR has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLGR has performed better with a 6.08% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLGR is cheaper with a 0.09% expense ratio, compared with 0.55% for EWD.

EWD has the higher dividend yield at 3.68%, compared with 0.33% for FLGR.

FLGR tracks FTSE Germany RIC Capped Index, while EWD tracks MSCI Sweden Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLGR and 0.55% for EWD.

EWD currently has the higher Sharpe Ratio (0.62 vs -0.02), 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.

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