FLQL vs. CPAI

Last updated Jun 4, 2026

FLQL (Franklin LibertyQ U.S. Equity ETF) and CPAI (Counterpoint Quantitative Equity ETF) are both exchange-traded funds - FLQL is a Large Cap Growth Equities fund tracking the LibertyQ U.S. Large Cap Equity Index, while CPAI is a Mid Cap Blend Equities fund actively managed by Counterpoint Funds. FLQL is passively managed, while CPAI is actively managed. Over the past year, FLQL returned 29.48% vs 45.47% for CPAI. A 0.74 correlation means they provide meaningful diversification when combined. FLQL charges 0.15%/yr vs 0.75%/yr for CPAI.

Performance

FLQL vs. CPAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity ETF (FLQL) and Counterpoint Quantitative Equity ETF (CPAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLQL achieves a 12.66% return, which is significantly lower than CPAI's 27.41% return.

FLQL

• 1D: -0.08%
• 1M: 5.00%
• YTD: 12.66%
• 6M: 12.54%
• 1Y: 29.48%
• 3Y*: 23.56%
• 5Y*: 14.70%
• 10Y*: —

CPAI

• 1D: -1.84%
• 1M: 8.24%
• YTD: 27.41%
• 6M: 29.49%
• 1Y: 45.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLQL vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLQL Franklin LibertyQ U.S. Equity ETF	12.66%	19.64%	24.33%	4.80%
CPAI Counterpoint Quantitative Equity ETF	27.41%	17.79%	28.37%	6.69%

Correlation

The correlation between FLQL and CPAI is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.74

The correlation between FLQL and CPAI has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

FLQL vs. CPAI - Sectors Allocation Comparison

Sectors	FLQL	CPAI
Technology	34.3%	45.4%
Communication Services	12.2%	7.9%
Consumer Cyclical	11.5%	4.2%
Healthcare	10.5%	16.0%
Industrials	10.0%	5.7%
Financial Services	9.9%	4.3%
Consumer Defensive	4.4%	9.5%
Real Estate	2.9%	-
Basic Materials	1.7%	3.3%
Utilities	1.6%	-
Energy	1.0%	3.7%

Return for Risk

FLQL vs. CPAI — Risk / Return Rank

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

FLQL

FLQL Risk / Return Rank: 71
FLQL Sharpe Ratio Rank: 69
FLQL Sortino Ratio Rank: 70
FLQL Omega Ratio Rank: 70
FLQL Calmar Ratio Rank: 65
FLQL Martin Ratio Rank: 79

CPAI

CPAI Risk / Return Rank: 77
CPAI Sharpe Ratio Rank: 78
CPAI Sortino Ratio Rank: 73
CPAI Omega Ratio Rank: 71
CPAI Calmar Ratio Rank: 82
CPAI Martin Ratio Rank: 81

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.

FLQL vs. CPAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity ETF (FLQL) and Counterpoint Quantitative Equity ETF (CPAI). 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.

	FLQL	CPAI	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.52	-0.22
Sortino ratio: Return per unit of downside risk	3.24	3.33	-0.09
Omega ratio: Gain probability vs. loss probability	1.42	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.27	4.36	-1.09
Martin ratio: Return relative to average drawdown	15.42	15.90	-0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLQL vs. CPAI - Sharpe Ratio Comparison

The current FLQL Sharpe Ratio is 2.31, which is comparable to the CPAI Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FLQL and CPAI, 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

	FLQL	CPAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.52	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.78	-0.92

Drawdowns

FLQL vs. CPAI - Drawdown Comparison

The maximum FLQL drawdown since its inception was -33.64%, which is greater than CPAI's maximum drawdown of -21.46%. Use the drawdown chart below to compare losses from any high point for FLQL and CPAI.

Drawdown Indicators

	FLQL	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-21.46%	-12.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-10.48%	+1.43%
Max Drawdown (3Y) Largest decline over 3 years	-19.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.41%	—	—
Current Drawdown Current decline from peak	-0.08%	-1.84%	+1.76%
Average Drawdown Average peak-to-trough decline	-4.04%	-2.97%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.87%	-0.95%

Volatility

FLQL vs. CPAI - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Equity ETF (FLQL) is 3.19%, while Counterpoint Quantitative Equity ETF (CPAI) has a volatility of 5.35%. This indicates that FLQL experiences smaller price fluctuations and is considered to be less risky than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQL	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	5.35%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	14.50%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	18.14%	-5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	19.19%	-3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	19.19%	-1.69%

FLQL vs. CPAI - Expense Ratio Comparison

FLQL has a 0.15% expense ratio, which is lower than CPAI's 0.75% expense ratio.

Dividends

FLQL vs. CPAI - Dividend Comparison

FLQL's dividend yield for the trailing twelve months is around 1.01%, more than CPAI's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLQL Franklin LibertyQ U.S. Equity ETF	1.01%	1.10%	1.13%	1.50%	2.07%	1.81%	1.99%	1.78%	1.82%	1.22%

Frequently Asked Questions

Can I hold both FLQL and CPAI in my portfolio?

FLQL and CPAI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQL or CPAI?

CPAI has higher volatility (5.35%) compared to FLQL (3.19%). In terms of maximum drawdown, FLQL dropped -33.64% vs CPAI's -21.46%.

Which ETF is better, FLQL or CPAI?

On 1-year performance, CPAI leads with 45.47% vs 29.48% for FLQL. On fees, FLQL is cheaper at 0.15% per year. On volatility, FLQL has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQL or CPAI?

Over the 1-year period, CPAI has performed better with a 45.47% return vs 29.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQL or CPAI?

FLQL is cheaper with a 0.15% expense ratio, compared with 0.75% for CPAI.

Which ETF pays a higher dividend yield, FLQL or CPAI?

FLQL has the higher dividend yield at 1.01%, compared with 0.70% for CPAI.

What is the main difference between FLQL and CPAI?

FLQL is categorized as Large Cap Growth Equities, while CPAI is Mid Cap Blend Equities. They also come from different issuers: Franklin Templeton and Counterpoint Funds. Their fees differ too: 0.15% for FLQL and 0.75% for CPAI.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.52 vs 2.31), 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.