FLQS vs. SQLV

Last updated Aug 2, 2026

FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) and SQLV (Royce Quant Small-Cap Quality Value ETF) are both exchange-traded funds - FLQS is a Small Cap Growth Equities fund tracking the LibertyQ U.S. Small Cap Equity Index, while SQLV is a Quality Factor fund actively managed by Franklin Templeton. FLQS is passively managed, while SQLV is actively managed. Over the past 5 years, FLQS returned 6.79%/yr vs 8.18%/yr for SQLV. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FLQS charges 0.35%/yr vs 0.60%/yr for SQLV.

Performance

FLQS vs. SQLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) and Royce Quant Small-Cap Quality Value ETF (SQLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLQS achieves a 15.12% return, which is significantly lower than SQLV's 23.57% return.

FLQS

• 1D: -0.31%
• 1M: 0.53%
• 6M: 11.66%
• YTD: 15.12%
• 1Y: 23.66%
• 3Y*: 11.90%
• 5Y*: 6.79%
• 10Y*: —
• ALL TIME*: 8.95%

SQLV

• 1D: -0.45%
• 1M: 1.00%
• 6M: 18.55%
• YTD: 23.57%
• 1Y: 37.64%
• 3Y*: 12.11%
• 5Y*: 8.18%
• 10Y*: —
• ALL TIME*: 9.92%

*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)
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	$106.78K	$111.39K	$163.90K
SQLV Royce Quant Small-Cap Quality Value ETF	$1.18M	$614.27K	$248.07K

FLQS vs. SQLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	15.12%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	8.48%
SQLV Royce Quant Small-Cap Quality Value ETF	23.57%	2.50%	4.76%	21.21%	-12.86%	37.14%	7.13%	17.41%	-10.55%	8.84%

Correlation

The correlation between FLQS and SQLV is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017	0.75

The correlation between FLQS and SQLV shifts across timeframes, from 0.75 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.

FLQS vs. SQLV - Sectors Allocation Comparison

Sectors	FLQS	SQLV
Technology	16.6%	15.9%
Consumer Cyclical	16.0%	13.8%
Healthcare	13.3%	18.7%
Financial Services	13.0%	19.0%
Industrials	12.7%	10.3%
Consumer Defensive	8.3%	7.4%
Real Estate	6.2%	0.9%
Utilities	5.6%	0.2%
Energy	4.7%	4.0%
Basic Materials	2.0%	3.8%
Communication Services	1.7%	6.0%

Return for Risk

FLQS vs. SQLV — Risk / Return Rank

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

FLQS

FLQS Risk / Return Rank: 65
FLQS Sharpe Ratio Rank: 63
FLQS Sortino Ratio Rank: 70
FLQS Omega Ratio Rank: 61
FLQS Calmar Ratio Rank: 71
FLQS Martin Ratio Rank: 62

SQLV

SQLV Risk / Return Rank: 86
SQLV Sharpe Ratio Rank: 86
SQLV Sortino Ratio Rank: 88
SQLV Omega Ratio Rank: 81
SQLV Calmar Ratio Rank: 90
SQLV 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.

FLQS vs. SQLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) and Royce Quant Small-Cap Quality Value ETF (SQLV). 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.

	FLQS	SQLV	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.02	-0.54
Sortino ratio: Return per unit of downside risk	2.28	2.97	-0.69
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.47	3.95	-1.48
Martin ratio: Return relative to average drawdown	7.42	12.39	-4.97

FLQS vs. SQLV - Sharpe Ratio Comparison

The current FLQS Sharpe Ratio is 1.48, which is comparable to the SQLV Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FLQS and SQLV, 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

FLQS vs. SQLV - Drawdown Comparison

The maximum FLQS drawdown since its inception was -42.16%, smaller than the maximum SQLV drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for FLQS and SQLV.

Drawdown Indicators

	FLQS	SQLV	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-48.34%	+6.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-8.84%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-23.12%	-26.86%	+3.74%
Max Drawdown (5Y) Largest decline over 5 years	-28.05%	-26.86%	-1.19%
Current Drawdown Current decline from peak	-1.28%	-1.74%	+0.46%
Average Drawdown Average peak-to-trough decline	-7.88%	-8.80%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.81%	+0.18%

Volatility

FLQS vs. SQLV - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) is 3.37%, while Royce Quant Small-Cap Quality Value ETF (SQLV) has a volatility of 4.34%. This indicates that FLQS experiences smaller price fluctuations and is considered to be less risky than SQLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQS	SQLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	4.34%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	11.60%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	17.33%	-2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	20.87%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	23.24%	-1.69%

FLQS vs. SQLV - Expense Ratio Comparison

FLQS has a 0.35% expense ratio, which is lower than SQLV's 0.60% expense ratio.

Dividends

FLQS vs. SQLV - Dividend Comparison

FLQS's dividend yield for the trailing twelve months is around 1.33%, more than SQLV's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.33%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%
SQLV Royce Quant Small-Cap Quality Value ETF	0.95%	1.15%	1.11%	1.09%	1.24%	1.12%	1.22%	1.20%	1.08%	0.40%

Frequently Asked Questions

Can I hold both FLQS and SQLV in my portfolio?

With a correlation of 0.92, FLQS and SQLV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FLQS or SQLV?

SQLV has higher volatility (4.34%) compared to FLQS (3.37%). In terms of maximum drawdown, FLQS dropped -42.16% vs SQLV's -48.34%.

Which ETF is better, FLQS or SQLV?

On 5-year performance, SQLV leads with 8.18% vs 6.79% for FLQS. On fees, FLQS is cheaper at 0.35% per year. On volatility, FLQS has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQS or SQLV?

Over the 5-year period, SQLV has performed better with a 8.18% return vs 6.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQS or SQLV?

FLQS is cheaper with a 0.35% expense ratio, compared with 0.60% for SQLV.

Which ETF pays a higher dividend yield, FLQS or SQLV?

FLQS has the higher dividend yield at 1.33%, compared with 0.95% for SQLV.

What is the main difference between FLQS and SQLV?

FLQS is categorized as Small Cap Growth Equities, while SQLV is Quality Factor. Their fees differ too: 0.35% for FLQS and 0.60% for SQLV.

Which has better risk-adjusted returns?

SQLV currently has the higher Sharpe Ratio (2.02 vs 1.48), 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.