FLRG.L vs. IE15.L

Last updated Jul 16, 2026

FLRG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) and IE15.L (iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)) are both Global Bonds funds - FLRG.L tracks the Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) while IE15.L tracks the iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist). Both are passively managed. Over the past 5 years, FLRG.L returned -2.18%/yr vs 0.69%/yr for IE15.L. A 0.68 correlation means they provide meaningful diversification when combined. FLRG.L charges 0.25%/yr vs 0.20%/yr for IE15.L.

Performance

FLRG.L vs. IE15.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) and iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLRG.L achieves a 0.63% return, which is significantly higher than IE15.L's -1.14% return.

FLRG.L

• 1D: -0.04%
• 1M: -0.46%
• 6M: 0.08%
• YTD: 0.63%
• 1Y: 1.35%
• 3Y*: 3.27%
• 5Y*: -2.18%
• 10Y*: —

IE15.L

• 1D: -0.18%
• 1M: -0.30%
• 6M: -1.34%
• YTD: -1.14%
• 1Y: -0.17%
• 3Y*: 3.65%
• 5Y*: 0.69%
• 10Y*: 0.76%

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

FLRG.L vs. IE15.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)	0.63%	0.59%	2.78%	7.71%	-18.99%	-3.01%	5.46%	3.44%
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)	-1.14%	3.42%	4.34%	5.77%	-7.79%	-0.34%	1.06%	0.72%

Correlation

The correlation between FLRG.L and IE15.L is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.68

The correlation between FLRG.L and IE15.L has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

Return for Risk

FLRG.L vs. IE15.L — Risk / Return Rank

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

FLRG.L

FLRG.L Risk / Return Rank: 16
FLRG.L Sharpe Ratio Rank: 16
FLRG.L Sortino Ratio Rank: 14
FLRG.L Omega Ratio Rank: 14
FLRG.L Calmar Ratio Rank: 17
FLRG.L Martin Ratio Rank: 19

IE15.L

IE15.L Risk / Return Rank: 8
IE15.L Sharpe Ratio Rank: 8
IE15.L Sortino Ratio Rank: 7
IE15.L Omega Ratio Rank: 7
IE15.L Calmar Ratio Rank: 8
IE15.L Martin Ratio Rank: 8

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.

FLRG.L vs. IE15.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) and iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L). 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.

	FLRG.L	IE15.L	Difference
Sharpe ratio: Return per unit of total volatility	0.40	-0.11	+0.51
Sortino ratio: Return per unit of downside risk	0.59	-0.13	+0.71
Omega ratio: Gain probability vs. loss probability	1.07	0.98	+0.09
Calmar ratio: Return relative to maximum drawdown	0.58	-0.10	+0.68
Martin ratio: Return relative to average drawdown	1.62	-0.25	+1.86

FLRG.L vs. IE15.L - Sharpe Ratio Comparison

The current FLRG.L Sharpe Ratio is 0.40, which is higher than the IE15.L Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of FLRG.L and IE15.L, 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

FLRG.L vs. IE15.L - Drawdown Comparison

The maximum FLRG.L drawdown since its inception was -23.17%, which is greater than IE15.L's maximum drawdown of -10.14%. Use the drawdown chart below to compare losses from any high point for FLRG.L and IE15.L.

Drawdown Indicators

	FLRG.L	IE15.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.17%	-10.14%	-13.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-2.86%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-3.41%	-2.86%	-0.55%
Max Drawdown (5Y) Largest decline over 5 years	-22.63%	-10.14%	-12.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-10.14%	—
Current Drawdown Current decline from peak	-12.19%	-1.39%	-10.80%
Average Drawdown Average peak-to-trough decline	-10.42%	-1.46%	-8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.16%	-0.27%

Volatility

FLRG.L vs. IE15.L - Volatility Comparison

Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) has a higher volatility of 1.02% compared to iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) at 0.59%. This indicates that FLRG.L's price experiences larger fluctuations and is considered to be riskier than IE15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRG.L	IE15.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.59%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	1.85%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	2.50%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	2.75%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	3.32%	+1.67%

FLRG.L vs. IE15.L - Expense Ratio Comparison

FLRG.L has a 0.25% expense ratio, which is higher than IE15.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLRG.L vs. IE15.L - Dividend Comparison

FLRG.L has not paid dividends to shareholders, while IE15.L's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)	3.00%	2.92%	2.50%	1.41%	0.51%	0.57%	0.59%	0.62%	0.62%	0.68%	0.90%	0.56%

Frequently Asked Questions

Can I hold both FLRG.L and IE15.L in my portfolio?

FLRG.L and IE15.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLRG.L or IE15.L?

On fees, IE15.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLRG.L or IE15.L?

IE15.L is cheaper with a 0.20% expense ratio, compared with 0.25% for FLRG.L.

What is the main difference between FLRG.L and IE15.L?

FLRG.L tracks Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc), while IE15.L tracks iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist). They also come from different issuers: Franklin and iShares. Their fees differ too: 0.25% for FLRG.L and 0.20% for IE15.L.