FLMI vs. FLIN
FLMI (Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF) and FLIN (Franklin FTSE India ETF) are both exchange-traded funds - FLMI is a Municipal Bonds fund actively managed by Franklin Templeton, while FLIN is a Asia Pacific Equities fund tracking the FTSE India RIC Capped Index. FLMI is actively managed, while FLIN is passively managed. Over the past 5 years, FLMI returned 2.22%/yr vs 4.79%/yr for FLIN. At a 0.04 correlation, their price movements are largely independent. FLMI charges 0.30%/yr vs 0.19%/yr for FLIN.
Performance
FLMI vs. FLIN - Performance Comparison
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Returns By Period
In the year-to-date period, FLMI achieves a 2.68% return, which is significantly higher than FLIN's -7.84% return.
FLMI
- 1D
- 0.08%
- 1M
- 1.18%
- YTD
- 2.68%
- 6M
- 2.82%
- 1Y
- 7.99%
- 3Y*
- 5.79%
- 5Y*
- 2.22%
- 10Y*
- —
FLIN
- 1D
- -0.35%
- 1M
- 2.23%
- YTD
- -7.84%
- 6M
- -7.74%
- 1Y
- -9.16%
- 3Y*
- 6.64%
- 5Y*
- 4.79%
- 10Y*
- —
FLMI vs. FLIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 2.68% | 5.89% | 4.91% | 7.89% | -10.23% | 4.06% | 6.11% | 6.71% | 0.13% |
FLIN Franklin FTSE India ETF | -7.84% | 2.40% | 10.33% | 20.58% | -7.96% | 24.96% | 14.50% | 4.77% | -7.13% |
Correlation
The correlation between FLMI and FLIN is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2018 | 0.04 |
Over the past year, FLMI and FLIN have become more correlated (0.37) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
FLMI vs. FLIN — Risk / Return Rank
FLMI
FLIN
FLMI vs. FLIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) and Franklin FTSE India ETF (FLIN). 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.
| FLMI | FLIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.35 | ||
| Sortino ratioReturn per unit of downside risk | +4.96 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 0.91 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | -0.49 | +3.26 |
| Martin ratioReturn relative to average drawdown | 9.96 | -1.13 | +11.09 |
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Drawdowns
FLMI vs. FLIN - Drawdown Comparison
The maximum FLMI drawdown since its inception was -14.66%, smaller than the maximum FLIN drawdown of -41.90%. Use the drawdown chart below to compare losses from any high point for FLMI and FLIN.
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Drawdown Indicators
| FLMI | FLIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.66% | -41.90% | +27.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -18.79% | +15.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.31% | -22.85% | +17.54% |
Max Drawdown (5Y)Largest decline over 5 years | -14.66% | -22.85% | +8.19% |
Current DrawdownCurrent decline from peak | 0.00% | -15.15% | +15.15% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -8.07% | +5.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 8.16% | -7.36% |
Volatility
FLMI vs. FLIN - Volatility Comparison
The current volatility for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) is 0.54%, while Franklin FTSE India ETF (FLIN) has a volatility of 4.66%. This indicates that FLMI experiences smaller price fluctuations and is considered to be less risky than FLIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLMI | FLIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 4.66% | -4.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 13.12% | -11.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 15.17% | -12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 15.79% | -11.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 20.42% | -15.71% |
FLMI vs. FLIN - Expense Ratio Comparison
FLMI has a 0.30% expense ratio, which is higher than FLIN's 0.19% expense ratio.
Dividends
FLMI vs. FLIN - Dividend Comparison
FLMI's dividend yield for the trailing twelve months is around 3.86%, more than FLIN's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLIN Franklin FTSE India ETF | 0.43% | 0.56% | 1.58% | 0.73% | 0.73% | 2.26% | 0.68% | 0.90% | 0.92% | 0.00% |
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 3.86% | 3.89% | 4.08% | 3.71% | 3.08% | 2.22% | 2.09% | 2.71% | 2.41% | 0.34% |
Frequently Asked Questions
FLMI and FLIN have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLIN has higher volatility (4.66%) compared to FLMI (0.54%). In terms of maximum drawdown, FLMI dropped -14.66% vs FLIN's -41.90%.
On 5-year performance, FLIN leads with 4.79% vs 2.22% for FLMI. On fees, FLIN is cheaper at 0.19% per year. On volatility, FLMI has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLIN has performed better with a 4.79% return vs 2.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLIN is cheaper with a 0.19% expense ratio, compared with 0.30% for FLMI.
FLMI has the higher dividend yield at 3.86%, compared with 0.43% for FLIN.
FLMI is categorized as Municipal Bonds, while FLIN is Asia Pacific Equities. Their fees differ too: 0.30% for FLMI and 0.19% for FLIN.
FLMI currently has the higher Sharpe Ratio (2.74 vs -0.61), 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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