FLQM vs. AFMC

Last updated Aug 2, 2026

FLQM (Franklin LibertyQ U.S. Mid Cap Equity ETF) and AFMC (First Trust Active Factor Mid Cap ETF) are both Mid Cap Blend Equities funds. FLQM is passively managed, while AFMC is actively managed. Over the past 5 years, FLQM returned 7.28%/yr vs 10.83%/yr for AFMC. Their correlation of 0.89 means they have usually moved in the same direction. FLQM charges 0.30%/yr vs 0.65%/yr for AFMC.

Performance

FLQM vs. AFMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM) and First Trust Active Factor Mid Cap ETF (AFMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLQM achieves a 7.46% return, which is significantly lower than AFMC's 18.05% return.

FLQM

• 1D: -0.51%
• 1M: 1.32%
• 6M: 6.05%
• YTD: 7.46%
• 1Y: 12.52%
• 3Y*: 10.57%
• 5Y*: 7.28%
• 10Y*: —
• ALL TIME*: 11.18%

AFMC

• 1D: -0.05%
• 1M: 0.74%
• 6M: 13.07%
• YTD: 18.05%
• 1Y: 28.37%
• 3Y*: 17.45%
• 5Y*: 10.83%
• 10Y*: —
• ALL TIME*: 12.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AFMC First Trust Active Factor Mid Cap ETF	$1.44M	$1.57M	$1.21M
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	$4.73M	$5.15M	$5.86M

FLQM vs. AFMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	7.46%	5.16%	14.32%	17.47%	-12.95%	28.76%	15.50%	3.69%
AFMC First Trust Active Factor Mid Cap ETF	18.05%	10.23%	19.06%	21.46%	-15.55%	25.75%	5.87%	1.97%

Correlation

The correlation between FLQM and AFMC is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.89

The correlation between FLQM and AFMC shifts across timeframes, from 0.72 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

FLQM vs. AFMC - Sectors Allocation Comparison

Sectors	FLQM	AFMC
Industrials	17.7%	18.3%
Financial Services	16.9%	11.0%
Consumer Cyclical	15.4%	14.4%
Healthcare	15.2%	11.0%
Technology	11.7%	21.7%
Consumer Defensive	8.9%	3.8%
Energy	5.0%	3.8%
Real Estate	3.6%	6.5%
Communication Services	2.4%	1.5%
Utilities	2.1%	1.1%
Basic Materials	1.1%	6.1%

Return for Risk

FLQM vs. AFMC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLQM

FLQM Risk / Return Rank: 39
FLQM Sharpe Ratio Rank: 38
FLQM Sortino Ratio Rank: 41
FLQM Omega Ratio Rank: 35
FLQM Calmar Ratio Rank: 43
FLQM Martin Ratio Rank: 40

AFMC

AFMC Risk / Return Rank: 82
AFMC Sharpe Ratio Rank: 80
AFMC Sortino Ratio Rank: 82
AFMC Omega Ratio Rank: 78
AFMC Calmar Ratio Rank: 86
AFMC Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLQM vs. AFMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM) and First Trust Active Factor Mid Cap ETF (AFMC). 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.

	FLQM	AFMC	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.84	-0.89
Sortino ratio: Return per unit of downside risk	1.51	2.68	-1.17
Omega ratio: Gain probability vs. loss probability	1.17	1.32	-0.16
Calmar ratio: Return relative to maximum drawdown	1.55	3.35	-1.80
Martin ratio: Return relative to average drawdown	4.31	12.18	-7.87

FLQM vs. AFMC - Sharpe Ratio Comparison

The current FLQM Sharpe Ratio is 0.94, which is lower than the AFMC Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of FLQM and AFMC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLQM vs. AFMC - Drawdown Comparison

The maximum FLQM drawdown since its inception was -37.26%, smaller than the maximum AFMC drawdown of -42.14%. Use the drawdown chart below to compare losses from any high point for FLQM and AFMC.

Drawdown Indicators

	FLQM	AFMC	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-42.14%	+4.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.57%	-8.20%	+0.63%
Max Drawdown (3Y) Largest decline over 3 years	-19.70%	-21.99%	+2.29%
Max Drawdown (5Y) Largest decline over 5 years	-22.51%	-25.40%	+2.89%
Current Drawdown Current decline from peak	-2.04%	-0.98%	-1.06%
Average Drawdown Average peak-to-trough decline	-4.86%	-7.45%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.25%	+0.47%

Volatility

FLQM vs. AFMC - Volatility Comparison

Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM) has a higher volatility of 4.57% compared to First Trust Active Factor Mid Cap ETF (AFMC) at 2.96%. This indicates that FLQM's price experiences larger fluctuations and is considered to be riskier than AFMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQM	AFMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	2.96%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	11.01%	-2.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	15.00%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	18.84%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	22.74%	-4.33%

FLQM vs. AFMC - Expense Ratio Comparison

FLQM has a 0.30% expense ratio, which is lower than AFMC's 0.65% expense ratio.

Dividends

FLQM vs. AFMC - Dividend Comparison

FLQM's dividend yield for the trailing twelve months is around 1.64%, more than AFMC's 0.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFMC First Trust Active Factor Mid Cap ETF	0.69%	0.96%	0.64%	0.87%	1.42%	0.84%	1.05%	0.29%	0.00%	0.00%
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	1.64%	1.49%	1.28%	1.27%	1.33%	1.05%	1.10%	1.37%	1.42%	1.15%

Frequently Asked Questions

Can I hold both FLQM and AFMC in my portfolio?

FLQM and AFMC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQM or AFMC?

FLQM has higher volatility (4.57%) compared to AFMC (2.96%). In terms of maximum drawdown, FLQM dropped -37.26% vs AFMC's -42.14%.

Which ETF is better, FLQM or AFMC?

On 5-year performance, AFMC leads with 10.83% vs 7.28% for FLQM. On fees, FLQM is cheaper at 0.30% per year. On volatility, AFMC has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQM or AFMC?

Over the 5-year period, AFMC has performed better with a 10.83% return vs 7.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQM or AFMC?

FLQM is cheaper with a 0.30% expense ratio, compared with 0.65% for AFMC.

Which ETF pays a higher dividend yield, FLQM or AFMC?

FLQM has the higher dividend yield at 1.64%, compared with 0.69% for AFMC.

What is the main difference between FLQM and AFMC?

They also come from different issuers: Franklin Templeton and First Trust. Their fees differ too: 0.30% for FLQM and 0.65% for AFMC.

Which has better risk-adjusted returns?

AFMC currently has the higher Sharpe Ratio (1.84 vs 0.94), 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.