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FLGR vs. IEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLGR vs. IEV

Last updated Jun 4, 2026

FLGR (Franklin FTSE Germany ETF) and IEV (iShares Europe ETF) are both Europe Equities funds - FLGR tracks the FTSE Germany RIC Capped Index while IEV tracks the S&P Europe 350 Index. Both are passively managed. Over the past 5 years, FLGR returned 6.45%/yr vs 8.55%/yr for IEV. Their correlation of 0.87 suggests significant overlap in exposure. FLGR charges 0.09%/yr vs 0.59%/yr for IEV.

Performance

FLGR vs. IEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Germany ETF (FLGR) and iShares Europe ETF (IEV). 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 0.44% return, which is significantly lower than IEV's 5.38% return.

FLGR

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

IEV

1D
-1.26%
1M
2.73%
YTD
5.38%
6M
8.19%
1Y
17.71%
3Y*
15.90%
5Y*
8.55%
10Y*
9.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLGR vs. IEV - 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%
IEV
iShares Europe ETF		5.38%35.63%1.36%20.14%-14.24%16.73%4.07%24.03%-14.68%0.85%

Correlation

The correlation between FLGR and IEV is 0.87, 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

0.87

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

0.90

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

0.92

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

0.87

The correlation between FLGR and IEV has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

FLGR vs. IEV - Sectors Allocation Comparison

Sectors
FLGR
IEV

Industrials

30.5%
19.3%

Financial Services

21.7%
23.9%

Technology

13.9%
8.7%

Consumer Cyclical

8.2%
6.7%

Communication Services

6.3%
2.9%

Basic Materials

5.9%
5.7%

Healthcare

5.8%
13.1%

Utilities

5.0%
5.0%

Consumer Defensive

1.4%
8.3%

Real Estate

1.3%
0.8%

Energy

-

5.6%

Industrials

FLGR
30.5%
IEV
19.3%

Financial Services

FLGR
21.7%
IEV
23.9%

Technology

FLGR
13.9%
IEV
8.7%

Consumer Cyclical

FLGR
8.2%
IEV
6.7%

Communication Services

FLGR
6.3%
IEV
2.9%

Basic Materials

FLGR
5.9%
IEV
5.7%

Healthcare

FLGR
5.8%
IEV
13.1%

Utilities

FLGR
5.0%
IEV
5.0%

Consumer Defensive

FLGR
1.4%
IEV
8.3%

Real Estate

FLGR
1.3%
IEV
0.8%

Energy

FLGR

-

IEV
5.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE Germany ETF

iShares Europe ETF

Often compared with FLGR:
FLGR vs. EWGFLGR vs. FLEUFLGR vs. DAXFLGR vs. EWSFLGR vs. FLSWFLGR vs. ZECPFLGR vs. FLTW
Often compared with IEV:
IEV vs. VGKIEV vs. IEURIEV vs. SPYIEV vs. FEZIEV vs. EZUIEV vs. VOOIEV vs. SPEU

Return for Risk

FLGR vs. IEV — 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
IEV
IEV Risk / Return Rank: 3131
Overall Rank
IEV Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IEV Sortino Ratio Rank: 3131
Sortino Ratio Rank
IEV Omega Ratio Rank: 2929
Omega Ratio Rank
IEV Calmar Ratio Rank: 2929
Calmar Ratio Rank
IEV Martin Ratio Rank: 3434
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. IEV - Risk-Adjusted Trends Comparison

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

FLGRIEVDifference
Sharpe ratioReturn per unit of total volatility
0.19
1.14

-0.96

Sortino ratioReturn per unit of downside risk
0.38
1.67

-1.30

Omega ratioGain probability vs. loss probability

1.05

1.20

-0.16

Calmar ratioReturn relative to maximum drawdown

0.22

1.45

-1.22

Martin ratioReturn relative to average drawdown

0.63

5.29

-4.65

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. IEV - Sharpe Ratio Comparison

The current FLGR Sharpe Ratio is 0.19, which is lower than the IEV Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of FLGR and IEV, 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

FLGRIEVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.19

1.14

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.49

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.49

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.23

+0.04

Drawdowns

FLGR vs. IEV - Drawdown Comparison

The maximum FLGR drawdown since its inception was -46.21%, smaller than the maximum IEV drawdown of -63.27%. Use the drawdown chart below to compare losses from any high point for FLGR and IEV.

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Drawdown Indicators

FLGRIEVDifference

Max Drawdown

Largest peak-to-trough decline

-46.21%

-63.27%

+17.06%

Max Drawdown (1Y)

Largest decline over 1 year

-14.44%

-12.31%

-2.13%

Max Drawdown (3Y)

Largest decline over 3 years

-15.53%

-14.63%

-0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-43.54%

-30.60%

-12.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.62%

—

Current Drawdown

Current decline from peak

-4.26%

-2.77%

-1.49%

Average Drawdown

Average peak-to-trough decline

-12.37%

-15.04%

+2.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.03%

3.36%

+1.67%

Volatility

FLGR vs. IEV - Volatility Comparison

Franklin FTSE Germany ETF (FLGR) has a higher volatility of 6.23% compared to iShares Europe ETF (IEV) at 5.61%. This indicates that FLGR's price experiences larger fluctuations and is considered to be riskier than IEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLGRIEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.23%

5.61%

+0.62%

Volatility (6M)

Calculated over the trailing 6-month period

14.03%

12.95%

+1.08%

Volatility (1Y)

Calculated over the trailing 1-year period

17.18%

15.62%

+1.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.26%

17.57%

+2.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.43%

18.66%

+2.77%

FLGR vs. IEV - Expense Ratio Comparison

FLGR has a 0.09% expense ratio, which is lower than IEV's 0.59% expense ratio.

Dividends

FLGR vs. IEV - Dividend Comparison

FLGR's dividend yield for the trailing twelve months is around 1.71%, less than IEV's 2.59% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IEV
iShares Europe ETF		2.59%2.73%3.10%2.77%3.06%2.81%1.76%3.06%3.43%2.39%3.08%2.81%

Frequently Asked Questions

FLGR and IEV have a correlation of 0.87, 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 IEV (5.61%). In terms of maximum drawdown, FLGR dropped -46.21% vs IEV's -63.27%.

On 5-year performance, IEV leads with 8.55% vs 6.45% for FLGR. On fees, FLGR is cheaper at 0.09% per year. On volatility, IEV has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IEV has performed better with a 8.55% 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 0.59% for IEV.

IEV has the higher dividend yield at 2.59%, compared with 1.71% for FLGR.

FLGR tracks FTSE Germany RIC Capped Index, while IEV tracks S&P Europe 350 Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLGR and 0.59% for IEV.

IEV currently has the higher Sharpe Ratio (1.14 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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