FLGR vs. FGDL

Last updated Jun 25, 2026

FLGR (Franklin FTSE Germany ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - FLGR is a Europe Equities fund tracking the FTSE Germany RIC Capped Index, while FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 3 years, FLGR returned 16.15%/yr vs 27.36%/yr for FGDL. At a 0.31 correlation, their price movements are largely independent. FLGR charges 0.09%/yr vs 0.15%/yr for FGDL.

Performance

FLGR vs. FGDL - Performance Comparison

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

Returns By Period

In the year-to-date period, FLGR achieves a -2.86% return, which is significantly higher than FGDL's -7.99% return.

FLGR

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

FGDL

• 1D: -3.28%
• 1M: -11.58%
• YTD: -7.99%
• 6M: -11.39%
• 1Y: 19.61%
• 3Y*: 27.36%
• 5Y*: —
• 10Y*: —

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

FLGR vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLGR Franklin FTSE Germany ETF	-2.86%	36.67%	10.63%	24.22%	6.42%
FGDL Franklin Responsibly Sourced Gold ETF	-7.99%	64.15%	27.31%	12.92%	0.72%

Correlation

The correlation between FLGR and FGDL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022	0.31

Return for Risk

FLGR vs. FGDL — Risk / Return Rank

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

FLGR

FLGR Risk / Return Rank: 9
FLGR Sharpe Ratio Rank: 9
FLGR Sortino Ratio Rank: 8
FLGR Omega Ratio Rank: 8
FLGR Calmar Ratio Rank: 9
FLGR Martin Ratio Rank: 8

FGDL

FGDL Risk / Return Rank: 21
FGDL Sharpe Ratio Rank: 22
FGDL Sortino Ratio Rank: 20
FGDL Omega Ratio Rank: 23
FGDL Calmar Ratio Rank: 18
FGDL Martin Ratio Rank: 20

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. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Germany ETF (FLGR) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

	FLGR	FGDL	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	0.70	-0.73
Sortino ratio: Return per unit of downside risk	0.09	1.04	-0.95
Omega ratio: Gain probability vs. loss probability	1.01	1.15	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.03	0.74	-0.77
Martin ratio: Return relative to average drawdown	-0.07	2.10	-2.17

FLGR vs. FGDL - Sharpe Ratio Comparison

The current FLGR Sharpe Ratio is -0.02, which is lower than the FGDL Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of FLGR and FGDL, 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

FLGR vs. FGDL - Drawdown Comparison

The maximum FLGR drawdown since its inception was -46.21%, which is greater than FGDL's maximum drawdown of -26.48%. Use the drawdown chart below to compare losses from any high point for FLGR and FGDL.

Drawdown Indicators

	FLGR	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-46.21%	-26.48%	-19.73%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-26.48%	+12.04%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-26.48%	+10.95%
Max Drawdown (5Y) Largest decline over 5 years	-42.69%	—	—
Current Drawdown Current decline from peak	-7.40%	-26.48%	+19.08%
Average Drawdown Average peak-to-trough decline	-12.32%	-4.10%	-8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.17%	9.38%	-4.21%

Volatility

FLGR vs. FGDL - Volatility Comparison

The current volatility for Franklin FTSE Germany ETF (FLGR) is 5.40%, while Franklin Responsibly Sourced Gold ETF (FGDL) has a volatility of 8.93%. This indicates that FLGR experiences smaller price fluctuations and is considered to be less risky than FGDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLGR	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	8.93%	-3.53%
Volatility (6M) Calculated over the trailing 6-month period	14.60%	24.70%	-10.10%
Volatility (1Y) Calculated over the trailing 1-year period	17.51%	28.04%	-10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.32%	19.39%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.41%	19.39%	+2.02%

FLGR vs. FGDL - Expense Ratio Comparison

FLGR has a 0.09% expense ratio, which is lower than FGDL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLGR vs. FGDL - Dividend Comparison

FLGR's dividend yield for the trailing twelve months is around 0.33%, while FGDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLGR Franklin FTSE Germany ETF	0.33%	1.72%	2.40%	2.99%	3.50%	2.67%	2.61%	2.52%	3.06%

Frequently Asked Questions

Can I hold both FLGR and FGDL in my portfolio?

FLGR and FGDL have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLGR or FGDL?

FGDL has higher volatility (8.93%) compared to FLGR (5.40%). In terms of maximum drawdown, FLGR dropped -46.21% vs FGDL's -26.48%.

Which ETF is better, FLGR or FGDL?

On 3-year performance, FGDL leads with 27.36% vs 16.15% for FLGR. 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.

Which ETF has performed better, FLGR or FGDL?

Over the 3-year period, FGDL has performed better with a 27.36% return vs 16.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGR or FGDL?

FLGR is cheaper with a 0.09% expense ratio, compared with 0.15% for FGDL.

Which ETF pays a higher dividend yield, FLGR or FGDL?

FLGR has the higher dividend yield at 0.33%, compared with 0.00% for FGDL.

What is the main difference between FLGR and FGDL?

FLGR is categorized as Europe Equities, while FGDL is Gold. FLGR tracks FTSE Germany RIC Capped Index, while FGDL tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 0.09% for FLGR and 0.15% for FGDL.

Which has better risk-adjusted returns?

FGDL currently has the higher Sharpe Ratio (0.70 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.