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 2.20%/yr vs 3.56%/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 2.31% return, which is significantly higher than FLIN's -11.92% return.
FLMI
- 1D
- -0.04%
- 1M
- 0.94%
- YTD
- 2.31%
- 6M
- 2.59%
- 1Y
- 8.28%
- 3Y*
- 6.02%
- 5Y*
- 2.20%
- 10Y*
- —
FLIN
- 1D
- -1.51%
- 1M
- -2.58%
- YTD
- -11.92%
- 6M
- -10.85%
- 1Y
- -11.63%
- 3Y*
- 5.53%
- 5Y*
- 3.56%
- 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 | 2.31% | 5.89% | 4.91% | 7.89% | -10.23% | 4.06% | 6.11% | 6.71% | 1.90% |
FLIN Franklin FTSE India ETF | -11.92% | 2.40% | 10.33% | 20.58% | -7.96% | 24.96% | 14.50% | 4.77% | -6.70% |
Correlation
The correlation between FLMI and FLIN is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2018 | 0.04 |
Over the past year, FLMI and FLIN have become more correlated (0.30) 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.
| FLMI | FLIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.47 | ||
| Sortino ratioReturn per unit of downside risk | +5.12 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 0.88 | +0.73 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | -0.62 | +3.49 |
| Martin ratioReturn relative to average drawdown | 10.34 | -1.54 | +11.87 |
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
| FLMI | FLIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | -0.78 | +3.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.23 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.26 | +0.38 |
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 | -0.33% | -18.91% | +18.58% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -8.01% | +5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 7.57% | -6.77% |
Volatility
FLMI vs. FLIN - Volatility Comparison
The current volatility for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) is 1.00%, while Franklin FTSE India ETF (FLIN) has a volatility of 5.21%. 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 | 1.00% | 5.21% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 12.81% | -10.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.09% | 14.92% | -11.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 15.74% | -11.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 20.45% | -15.73% |
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 3.87%, more than FLIN's 0.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLIN Franklin FTSE India ETF | 0.64% | 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 | 3.87% | 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 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLIN has higher volatility (5.21%) compared to FLMI (1.00%). In terms of maximum drawdown, FLMI dropped -14.66% vs FLIN's -41.90%.
On 5-year performance, FLIN leads with 3.56% vs 2.20% for FLMI. On fees, FLIN is cheaper at 0.19% per year. On volatility, FLMI has been the lower-risk option at 1.00%. 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 3.56% return vs 2.20%. 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 3.87%, compared with 0.64% 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 (2.69 vs -0.78), 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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