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FLGR vs. EWU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLGR vs. EWU

Last updated Jun 4, 2026

FLGR (Franklin FTSE Germany ETF) and EWU (iShares MSCI United Kingdom ETF) are both Europe Equities funds - FLGR tracks the FTSE Germany RIC Capped Index while EWU tracks the MSCI United Kingdom Index. Both are passively managed. Over the past 5 years, FLGR returned 6.45%/yr vs 10.64%/yr for EWU. A 0.74 correlation means they provide meaningful diversification when combined. FLGR charges 0.09%/yr vs 0.50%/yr for EWU.

Performance

FLGR vs. EWU - Performance Comparison

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

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Returns By Period

In the year-to-date period, FLGR achieves a 0.44% return, which is significantly lower than EWU's 5.55% return.

FLGR

1D
-1.91%
1M
3.04%
YTD
0.44%
6M
4.14%
1Y
3.18%
3Y*
17.60%
5Y*
6.45%
10Y*
—

EWU

1D
-1.09%
1M
-0.00%
YTD
5.55%
6M
8.87%
1Y
20.53%
3Y*
17.10%
5Y*
10.64%
10Y*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLGR vs. EWU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLGR
Franklin FTSE Germany ETF		0.44%36.67%10.63%24.22%-21.96%5.40%12.11%19.99%-21.50%-0.27%
EWU
iShares MSCI United Kingdom ETF		5.55%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%4.07%

Correlation

The correlation between FLGR and EWU is 0.71, 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

0.72

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

0.74

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

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2017

0.74

The correlation between FLGR and EWU has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

FLGR vs. EWU - Sectors Allocation Comparison

Sectors
FLGR
EWU

Industrials

30.5%
12.1%

Financial Services

21.7%
26.0%

Technology

13.9%
0.6%

Consumer Cyclical

8.2%
4.0%

Communication Services

6.3%
2.4%

Basic Materials

5.9%
9.3%

Healthcare

5.8%
13.9%

Utilities

5.0%
5.1%

Consumer Defensive

1.4%
14.2%

Real Estate

1.3%
0.6%

Energy

-

11.0%

Industrials

FLGR
30.5%
EWU
12.1%

Financial Services

FLGR
21.7%
EWU
26.0%

Technology

FLGR
13.9%
EWU
0.6%

Consumer Cyclical

FLGR
8.2%
EWU
4.0%

Communication Services

FLGR
6.3%
EWU
2.4%

Basic Materials

FLGR
5.9%
EWU
9.3%

Healthcare

FLGR
5.8%
EWU
13.9%

Utilities

FLGR
5.0%
EWU
5.1%

Consumer Defensive

FLGR
1.4%
EWU
14.2%

Real Estate

FLGR
1.3%
EWU
0.6%

Energy

FLGR

-

EWU
11.0%

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Franklin FTSE Germany ETF

iShares MSCI United Kingdom ETF

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Return for Risk

FLGR vs. EWU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLGR
FLGR Risk / Return Rank: 1111
Overall Rank
FLGR Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
FLGR Sortino Ratio Rank: 1111
Sortino Ratio Rank
FLGR Omega Ratio Rank: 1111
Omega Ratio Rank
FLGR Calmar Ratio Rank: 1111
Calmar Ratio Rank
FLGR Martin Ratio Rank: 1212
Martin Ratio Rank
EWU
EWU Risk / Return Rank: 4141
Overall Rank
EWU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 3939
Sortino Ratio Rank
EWU Omega Ratio Rank: 3939
Omega Ratio Rank
EWU Calmar Ratio Rank: 4242
Calmar Ratio Rank
EWU Martin Ratio Rank: 4646
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. EWU - Risk-Adjusted Trends Comparison

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

FLGREWUDifference
Sharpe ratioReturn per unit of total volatility
0.19
1.44

-1.25

Sortino ratioReturn per unit of downside risk
0.38
2.05

-1.67

Omega ratioGain probability vs. loss probability

1.05

1.26

-0.21

Calmar ratioReturn relative to maximum drawdown

0.22

2.08

-1.86

Martin ratioReturn relative to average drawdown

0.63

7.54

-6.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLGR vs. EWU - Sharpe Ratio Comparison

The current FLGR Sharpe Ratio is 0.19, which is lower than the EWU Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of FLGR and EWU, 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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Sharpe Ratios by Period

FLGREWUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.19

1.44

-1.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.65

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.41

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.26

+0.01

Drawdowns

FLGR vs. EWU - Drawdown Comparison

The maximum FLGR drawdown since its inception was -46.21%, smaller than the maximum EWU drawdown of -63.99%. Use the drawdown chart below to compare losses from any high point for FLGR and EWU.

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Drawdown Indicators

FLGREWUDifference

Max Drawdown

Largest peak-to-trough decline

-46.21%

-63.99%

+17.78%

Max Drawdown (1Y)

Largest decline over 1 year

-14.44%

-9.92%

-4.52%

Max Drawdown (3Y)

Largest decline over 3 years

-15.53%

-12.63%

-2.90%

Max Drawdown (5Y)

Largest decline over 5 years

-43.54%

-24.91%

-18.63%

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.33%

—

Current Drawdown

Current decline from peak

-4.26%

-4.64%

+0.38%

Average Drawdown

Average peak-to-trough decline

-12.37%

-14.16%

+1.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.03%

2.73%

+2.30%

Volatility

FLGR vs. EWU - Volatility Comparison

Franklin FTSE Germany ETF (FLGR) has a higher volatility of 6.23% compared to iShares MSCI United Kingdom ETF (EWU) at 5.56%. This indicates that FLGR's price experiences larger fluctuations and is considered to be riskier than EWU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLGREWUDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.23%

5.56%

+0.67%

Volatility (6M)

Calculated over the trailing 6-month period

14.03%

12.30%

+1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

17.18%

14.39%

+2.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.26%

16.43%

+3.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.43%

18.84%

+2.59%

FLGR vs. EWU - Expense Ratio Comparison

FLGR has a 0.09% expense ratio, which is lower than EWU's 0.50% expense ratio.

Dividends

FLGR vs. EWU - Dividend Comparison

FLGR's dividend yield for the trailing twelve months is around 1.71%, less than EWU's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.53%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%
FLGR
Franklin FTSE Germany ETF		1.71%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 EWU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLGR has higher volatility (6.23%) compared to EWU (5.56%). In terms of maximum drawdown, FLGR dropped -46.21% vs EWU's -63.99%.

On 5-year performance, EWU leads with 10.64% vs 6.45% for FLGR. On fees, FLGR is cheaper at 0.09% per year. On volatility, EWU has been the lower-risk option at 5.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EWU has performed better with a 10.64% return vs 6.45%. 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 0.50% for EWU.

EWU has the higher dividend yield at 3.53%, compared with 1.71% for FLGR.

FLGR tracks FTSE Germany RIC Capped Index, while EWU tracks MSCI United Kingdom Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLGR and 0.50% for EWU.

EWU currently has the higher Sharpe Ratio (1.44 vs 0.19), 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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