FLMB vs. CA
Compare and contrast key facts about Franklin Liberty Federal Tax-Free Bond ETF (FLMB) and Xtrackers California Municipal Bond ETF (CA).
FLMB and CA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLMB is an actively managed fund by Franklin Templeton. It was launched on Aug 31, 2017. CA is a passively managed fund by Xtrackers that tracks the performance of the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. It was launched on Dec 13, 2023.
Performance
FLMB vs. CA - Performance Comparison
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FLMB vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FLMB Franklin Liberty Federal Tax-Free Bond ETF | -0.26% | 3.93% | 2.47% | 0.69% |
CA Xtrackers California Municipal Bond ETF | -0.08% | 3.05% | 1.51% | 0.79% |
Returns By Period
In the year-to-date period, FLMB achieves a -0.26% return, which is significantly lower than CA's -0.08% return.
FLMB
- 1D
- 0.29%
- 1M
- -2.56%
- YTD
- -0.26%
- 6M
- 1.58%
- 1Y
- 4.42%
- 3Y*
- 3.41%
- 5Y*
- 0.52%
- 10Y*
- —
CA
- 1D
- 0.38%
- 1M
- -2.00%
- YTD
- -0.08%
- 6M
- 1.22%
- 1Y
- 3.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FLMB vs. CA - Expense Ratio Comparison
FLMB has a 0.30% expense ratio, which is higher than CA's 0.07% expense ratio.
Return for Risk
FLMB vs. CA — Risk / Return Rank
FLMB
CA
FLMB vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Federal Tax-Free Bond ETF (FLMB) and Xtrackers California Municipal Bond ETF (CA). 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.
| FLMB | CA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.89 | -0.06 |
Sortino ratioReturn per unit of downside risk | 1.07 | 1.17 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.99 | 1.17 | -0.19 |
Martin ratioReturn relative to average drawdown | 2.57 | 3.35 | -0.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLMB | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.89 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.57 | -0.19 |
Correlation
The correlation between FLMB and CA is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FLMB vs. CA - Dividend Comparison
FLMB's dividend yield for the trailing twelve months is around 3.76%, more than CA's 3.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLMB Franklin Liberty Federal Tax-Free Bond ETF | 3.42% | 3.86% | 3.79% | 3.49% | 2.80% | 1.66% | 2.07% | 2.40% | 2.68% | 0.54% |
CA Xtrackers California Municipal Bond ETF | 2.93% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FLMB vs. CA - Drawdown Comparison
The maximum FLMB drawdown since its inception was -17.90%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for FLMB and CA.
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Drawdown Indicators
| FLMB | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -5.24% | -12.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -3.67% | -1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -2.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -1.30% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 1.28% | +0.55% |
Volatility
FLMB vs. CA - Volatility Comparison
Franklin Liberty Federal Tax-Free Bond ETF (FLMB) has a higher volatility of 1.60% compared to Xtrackers California Municipal Bond ETF (CA) at 1.31%. This indicates that FLMB's price experiences larger fluctuations and is considered to be riskier than CA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLMB | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 1.31% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.16% | 1.78% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.39% | 4.40% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 4.09% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 4.09% | +1.52% |