FLSP vs. ATTR

Last updated Jun 4, 2026

FLSP (Franklin Liberty Systematic Style Premia ETF) and ATTR (Arin Tactical Tail Risk ETF) are both Long-Short funds. Both are actively managed. At a 0.11 correlation, their price movements are largely independent. FLSP charges 0.65%/yr vs 0.63%/yr for ATTR.

Performance

FLSP vs. ATTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Systematic Style Premia ETF (FLSP) and Arin Tactical Tail Risk ETF (ATTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLSP achieves a 1.26% return, which is significantly lower than ATTR's 4.25% return.

FLSP

• 1D: 0.04%
• 1M: 1.15%
• YTD: 1.26%
• 6M: 3.45%
• 1Y: 14.67%
• 3Y*: 10.00%
• 5Y*: 7.70%
• 10Y*: —

ATTR

• 1D: -0.12%
• 1M: 0.85%
• YTD: 4.25%
• 6M: 4.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLSP vs. ATTR - Yearly Performance Comparison

	2026 (YTD)	2025
FLSP Franklin Liberty Systematic Style Premia ETF	1.26%	4.54%
ATTR Arin Tactical Tail Risk ETF	4.25%	0.58%

Correlation

The correlation between FLSP and ATTR is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	0.11

Return for Risk

FLSP vs. ATTR — Risk / Return Rank

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

FLSP

FLSP Risk / Return Rank: 53
FLSP Sharpe Ratio Rank: 45
FLSP Sortino Ratio Rank: 45
FLSP Omega Ratio Rank: 42
FLSP Calmar Ratio Rank: 72
FLSP Martin Ratio Rank: 59

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.

FLSP vs. ATTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Systematic Style Premia ETF (FLSP) and Arin Tactical Tail Risk ETF (ATTR). 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.

	FLSP	ATTR	Difference
Sharpe ratio: Return per unit of total volatility	1.59	—	—
Sortino ratio: Return per unit of downside risk	2.27	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	3.66	—	—
Martin ratio: Return relative to average drawdown	10.59	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FLSP	ATTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	2.81	-2.51

Drawdowns

FLSP vs. ATTR - Drawdown Comparison

The maximum FLSP drawdown since its inception was -22.75%, which is greater than ATTR's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for FLSP and ATTR.

Drawdown Indicators

	FLSP	ATTR	Difference
Max Drawdown Largest peak-to-trough decline	-22.75%	-1.76%	-20.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.52%	—	—
Current Drawdown Current decline from peak	-1.94%	-0.19%	-1.75%
Average Drawdown Average peak-to-trough decline	-6.30%	-0.18%	-6.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	—	—

Volatility

Volatility by Period

	FLSP	ATTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.27%	2.97%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.37%	2.97%	+10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.53%	2.97%	+10.56%

FLSP vs. ATTR - Expense Ratio Comparison

FLSP has a 0.65% expense ratio, which is higher than ATTR's 0.63% expense ratio.

Dividends

FLSP vs. ATTR - Dividend Comparison

FLSP's dividend yield for the trailing twelve months is around 2.62%, while ATTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
ATTR Arin Tactical Tail Risk ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLSP Franklin Liberty Systematic Style Premia ETF	2.62%	2.65%	1.18%	1.19%	2.18%	1.19%	8.08%

Frequently Asked Questions

Can I hold both FLSP and ATTR in my portfolio?

FLSP and ATTR have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLSP or ATTR?

On fees, ATTR is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLSP or ATTR?

ATTR is cheaper with a 0.63% expense ratio, compared with 0.65% for FLSP.

Which ETF pays a higher dividend yield, FLSP or ATTR?

FLSP has the higher dividend yield at 2.62%, compared with 0.00% for ATTR.

What is the main difference between FLSP and ATTR?

They also come from different issuers: Franklin Templeton and Arin Risk Advisors. Their fees differ too: 0.65% for FLSP and 0.63% for ATTR.