FLGV vs. FTHI

Last updated Jun 4, 2026

FLGV (Franklin Liberty U.S. Treasury Bond ETF) and FTHI (First Trust BuyWrite Income ETF) are both exchange-traded funds - FLGV is a Government Bonds fund actively managed by Franklin Templeton, while FTHI is a Derivative Income fund actively managed by First Trust. Both are actively managed. Over the past 5 years, FLGV returned -0.17%/yr vs 10.17%/yr for FTHI. At a correlation of -0.00, they often move in opposite directions. FLGV charges 0.09%/yr vs 0.85%/yr for FTHI.

Performance

FLGV vs. FTHI - Performance Comparison

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

Returns By Period

In the year-to-date period, FLGV achieves a 0.06% return, which is significantly lower than FTHI's 4.79% return.

FLGV

• 1D: -0.17%
• 1M: 0.12%
• YTD: 0.06%
• 6M: -0.23%
• 1Y: 3.99%
• 3Y*: 2.91%
• 5Y*: -0.17%
• 10Y*: —

FTHI

• 1D: -0.17%
• 1M: 1.75%
• YTD: 4.79%
• 6M: 5.22%
• 1Y: 16.43%
• 3Y*: 14.50%
• 5Y*: 10.17%
• 10Y*: 8.54%

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

FLGV vs. FTHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	0.06%	6.22%	0.62%	4.18%	-11.53%	-2.39%	-0.27%
FTHI First Trust BuyWrite Income ETF	4.79%	11.03%	19.02%	20.72%	-4.37%	13.95%	10.51%

Correlation

The correlation between FLGV and FTHI is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	-0.00

The correlation between FLGV and FTHI shifts across timeframes, from -0.00 (all time) to 0.14 (3 years), reflecting how their relationship changes across market environments.

FLGV vs. FTHI - Sectors Allocation Comparison

Sectors	FLGV	FTHI
Communication Services	0.9%	5.0%
Basic Materials	-	5.0%
Consumer Cyclical	-	7.5%
Consumer Defensive	-	7.5%
Energy	-	7.0%
Financial Services	-	15.4%
Healthcare	-	8.5%
Industrials	-	13.9%
Real Estate	-	7.0%
Technology	-	11.4%
Utilities	-	10.0%

Return for Risk

FLGV vs. FTHI — Risk / Return Rank

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

FLGV

FLGV Risk / Return Rank: 29
FLGV Sharpe Ratio Rank: 30
FLGV Sortino Ratio Rank: 29
FLGV Omega Ratio Rank: 28
FLGV Calmar Ratio Rank: 29
FLGV Martin Ratio Rank: 29

FTHI

FTHI Risk / Return Rank: 59
FTHI Sharpe Ratio Rank: 54
FTHI Sortino Ratio Rank: 56
FTHI Omega Ratio Rank: 57
FTHI Calmar Ratio Rank: 60
FTHI Martin Ratio Rank: 70

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. FTHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Treasury Bond ETF (FLGV) and First Trust BuyWrite Income ETF (FTHI). 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	FTHI	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.87	-0.80
Sortino ratio: Return per unit of downside risk	1.63	2.71	-1.08
Omega ratio: Gain probability vs. loss probability	1.19	1.36	-0.17
Calmar ratio: Return relative to maximum drawdown	1.42	3.02	-1.60
Martin ratio: Return relative to average drawdown	4.20	13.19	-8.99
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. FTHI - Sharpe Ratio Comparison

The current FLGV Sharpe Ratio is 1.07, which is lower than the FTHI Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FLGV and FTHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLGV	FTHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.87	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.76	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.53	-0.67

Drawdowns

FLGV vs. FTHI - Drawdown Comparison

The maximum FLGV drawdown since its inception was -17.63%, smaller than the maximum FTHI drawdown of -32.65%. Use the drawdown chart below to compare losses from any high point for FLGV and FTHI.

Drawdown Indicators

	FLGV	FTHI	Difference
Max Drawdown Largest peak-to-trough decline	-17.63%	-32.65%	+15.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-5.47%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-5.23%	-15.92%	+10.69%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-16.70%	+1.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.65%	—
Current Drawdown Current decline from peak	-5.54%	-0.17%	-5.37%
Average Drawdown Average peak-to-trough decline	-8.73%	-3.68%	-5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.25%	-0.30%

Volatility

FLGV vs. FTHI - Volatility Comparison

The current volatility for Franklin Liberty U.S. Treasury Bond ETF (FLGV) is 1.20%, while First Trust BuyWrite Income ETF (FTHI) has a volatility of 1.67%. This indicates that FLGV experiences smaller price fluctuations and is considered to be less risky than FTHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLGV	FTHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.67%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	7.05%	-4.56%
Volatility (1Y) Calculated over the trailing 1-year period	3.73%	8.81%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.43%	13.44%	-8.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	14.33%	-9.18%

FLGV vs. FTHI - Expense Ratio Comparison

FLGV has a 0.09% expense ratio, which is lower than FTHI's 0.85% expense ratio.

Dividends

FLGV vs. FTHI - Dividend Comparison

FLGV's dividend yield for the trailing twelve months is around 4.15%, less than FTHI's 8.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLGV Franklin Liberty U.S. Treasury Bond ETF	4.15%	4.07%	4.13%	3.46%	2.21%	1.92%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%
FTHI First Trust BuyWrite Income ETF	8.73%	8.70%	8.61%	8.50%	9.06%	4.37%	4.76%	4.21%	4.76%	4.00%	4.41%	4.98%

Frequently Asked Questions

Can I hold both FLGV and FTHI in my portfolio?

FLGV and FTHI have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLGV or FTHI?

FTHI has higher volatility (1.67%) compared to FLGV (1.20%). In terms of maximum drawdown, FLGV dropped -17.63% vs FTHI's -32.65%.

Which ETF is better, FLGV or FTHI?

On 5-year performance, FTHI leads with 10.17% vs -0.17% for FLGV. On fees, FLGV is cheaper at 0.09% per year. On volatility, FLGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLGV or FTHI?

Over the 5-year period, FTHI has performed better with a 10.17% return vs -0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGV or FTHI?

FLGV is cheaper with a 0.09% expense ratio, compared with 0.85% for FTHI.

Which ETF pays a higher dividend yield, FLGV or FTHI?

FTHI has the higher dividend yield at 8.73%, compared with 4.15% for FLGV.

What is the main difference between FLGV and FTHI?

FLGV is categorized as Government Bonds, while FTHI is Derivative Income. They also come from different issuers: Franklin Templeton and First Trust. Their fees differ too: 0.09% for FLGV and 0.85% for FTHI.

Which has better risk-adjusted returns?

FTHI currently has the higher Sharpe Ratio (1.87 vs 1.07), 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.