FLGV vs. FLUD

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Liberty U.S. Treasury Bond ETF (FLGV) and Franklin Ultra Short Bond ETF (FLUD).

FLGV and FLUD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLGV is an actively managed fund by Franklin Templeton. It was launched on Jun 9, 2020. FLUD is an actively managed fund by Franklin Templeton. It was launched on Jul 14, 2020.

Performance

FLGV vs. FLUD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty U.S. Treasury Bond ETF (FLGV) and Franklin Ultra Short Bond ETF (FLUD). The values are adjusted to include any dividend payments, if applicable.

FLGV vs. FLUD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	0.19%	6.22%	0.62%	4.18%	-11.53%	-2.39%	-0.92%
FLUD Franklin Ultra Short Bond ETF	0.68%	5.36%	5.44%	5.95%	0.16%	0.09%	0.77%

Returns By Period

In the year-to-date period, FLGV achieves a 0.19% return, which is significantly lower than FLUD's 0.68% return.

FLGV

• 1D: 0.12%
• 1M: -1.62%
• YTD: 0.19%
• 6M: 0.98%
• 1Y: 3.43%
• 3Y*: 2.67%
• 5Y*: 0.02%
• 10Y*: —

FLUD

• 1D: 0.14%
• 1M: 0.03%
• YTD: 0.68%
• 6M: 1.74%
• 1Y: 4.50%
• 3Y*: 5.42%
• 5Y*: 3.47%
• 10Y*: —

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

FLGV vs. FLUD - Expense Ratio Comparison

FLGV has a 0.09% expense ratio, which is lower than FLUD'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%.

FLUD

Franklin Ultra Short Bond ETF

FLGV

Franklin Liberty U.S. Treasury Bond ETF

Return for Risk

FLGV vs. FLUD — Risk / Return Rank

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

FLGV

FLGV Risk / Return Rank: 46
FLGV Sharpe Ratio Rank: 45
FLGV Sortino Ratio Rank: 46
FLGV Omega Ratio Rank: 37
FLGV Calmar Ratio Rank: 60
FLGV Martin Ratio Rank: 42

FLUD

FLUD Risk / Return Rank: 98
FLUD Sharpe Ratio Rank: 96
FLUD Sortino Ratio Rank: 98
FLUD Omega Ratio Rank: 97
FLUD Calmar Ratio Rank: 99
FLUD Martin Ratio Rank: 98

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.

FLGV vs. FLUD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Treasury Bond ETF (FLGV) and Franklin Ultra Short Bond ETF (FLUD). 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.

	FLGV	FLUD	Difference
Sharpe ratio Return per unit of total volatility	0.84	2.61	-1.77
Sortino ratio Return per unit of downside risk	1.25	4.10	-2.85
Omega ratio Gain probability vs. loss probability	1.15	1.54	-0.40
Calmar ratio Return relative to maximum drawdown	1.51	10.63	-9.12
Martin ratio Return relative to average drawdown	3.95	39.41	-35.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLGV vs. FLUD - Sharpe Ratio Comparison

The current FLGV Sharpe Ratio is 0.84, which is lower than the FLUD Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FLGV and FLUD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLGV	FLUD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.61	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	2.63	-2.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	2.54	-2.67

Correlation

The correlation between FLGV and FLUD is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FLGV vs. FLUD - Dividend Comparison

FLGV's dividend yield for the trailing twelve months is around 4.06%, less than FLUD's 4.48% yield.

	TTM	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	4.06%	4.07%	4.13%	3.46%	2.21%	1.92%	0.97%
FLUD Franklin Ultra Short Bond ETF	4.48%	4.51%	4.97%	4.72%	1.39%	0.92%	0.93%

Drawdowns

FLGV vs. FLUD - Drawdown Comparison

The maximum FLGV drawdown since its inception was -17.63%, which is greater than FLUD's maximum drawdown of -1.66%. Use the drawdown chart below to compare losses from any high point for FLGV and FLUD.

Drawdown Indicators

	FLGV	FLUD	Difference
Max Drawdown Largest peak-to-trough decline	-17.63%	-1.66%	-15.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-0.44%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-1.66%	-13.60%
Current Drawdown Current decline from peak	-5.41%	-0.08%	-5.33%
Average Drawdown Average peak-to-trough decline	-8.83%	-0.25%	-8.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.12%	+0.82%

Volatility

FLGV vs. FLUD - Volatility Comparison

Franklin Liberty U.S. Treasury Bond ETF (FLGV) has a higher volatility of 1.45% compared to Franklin Ultra Short Bond ETF (FLUD) at 0.38%. This indicates that FLGV's price experiences larger fluctuations and is considered to be riskier than FLUD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLGV	FLUD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	0.38%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	1.12%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	4.13%	1.74%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.41%	1.32%	+4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.19%	1.27%	+3.92%