FLSP vs. FNGS

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Liberty Systematic Style Premia ETF (FLSP) and MicroSectors FANG+ ETN (FNGS).

FLSP and FNGS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLSP is an actively managed fund by Franklin Templeton. It was launched on Dec 18, 2019. FNGS is a passively managed fund by BMO that tracks the performance of the NYSE FANG+ Index. It was launched on Nov 12, 2019.

Performance

FLSP vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Systematic Style Premia ETF (FLSP) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

FLSP vs. FNGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLSP Franklin Liberty Systematic Style Premia ETF	1.08%	15.56%	11.75%	3.14%	0.44%	11.44%	-15.19%	0.90%
FNGS MicroSectors FANG+ ETN	-12.40%	18.64%	51.99%	95.24%	-40.32%	16.96%	101.99%	-0.39%

Returns By Period

In the year-to-date period, FLSP achieves a 1.08% return, which is significantly higher than FNGS's -12.40% return.

FLSP

• 1D: 0.63%
• 1M: -1.63%
• YTD: 1.08%
• 6M: 5.31%
• 1Y: 13.76%
• 3Y*: 10.39%
• 5Y*: 8.49%
• 10Y*: —

FNGS

• 1D: 4.69%
• 1M: -4.21%
• YTD: -12.40%
• 6M: -14.82%
• 1Y: 19.65%
• 3Y*: 30.42%
• 5Y*: 15.68%
• 10Y*: —

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

FLSP vs. FNGS - Expense Ratio Comparison

FLSP has a 0.65% expense ratio, which is higher than FNGS's 0.58% expense ratio.

FLSP

Franklin Liberty Systematic Style Premia ETF

FNGS

MicroSectors FANG+ ETN

Return for Risk

FLSP vs. FNGS — Risk / Return Rank

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

FLSP

FLSP Risk / Return Rank: 73
FLSP Sharpe Ratio Rank: 66
FLSP Sortino Ratio Rank: 64
FLSP Omega Ratio Rank: 63
FLSP Calmar Ratio Rank: 82
FLSP Martin Ratio Rank: 88

FNGS

FNGS Risk / Return Rank: 41
FNGS Sharpe Ratio Rank: 43
FNGS Sortino Ratio Rank: 51
FNGS Omega Ratio Rank: 45
FNGS Calmar Ratio Rank: 36
FNGS Martin Ratio Rank: 32

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. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Systematic Style Premia ETF (FLSP) and MicroSectors FANG+ ETN (FNGS). 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	FNGS	Difference
Sharpe ratio Return per unit of total volatility	1.12	0.73	+0.39
Sortino ratio Return per unit of downside risk	1.59	1.26	+0.33
Omega ratio Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio Return relative to maximum drawdown	2.29	0.84	+1.45
Martin ratio Return relative to average drawdown	10.40	2.59	+7.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLSP vs. FNGS - Sharpe Ratio Comparison

The current FLSP Sharpe Ratio is 1.12, which is higher than the FNGS Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of FLSP and FNGS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLSP	FNGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	0.73	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.53	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.90	-0.59

Correlation

The correlation between FLSP and FNGS is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FLSP vs. FNGS - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020
FLSP Franklin Liberty Systematic Style Premia ETF	2.62%	2.65%	1.18%	1.19%	2.18%	1.19%	8.08%
FNGS MicroSectors FANG+ ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FLSP vs. FNGS - Drawdown Comparison

The maximum FLSP drawdown since its inception was -22.75%, smaller than the maximum FNGS drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for FLSP and FNGS.

Drawdown Indicators

	FLSP	FNGS	Difference
Max Drawdown Largest peak-to-trough decline	-22.75%	-48.98%	+26.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-22.93%	+16.27%
Max Drawdown (5Y) Largest decline over 5 years	-9.52%	-48.98%	+39.46%
Current Drawdown Current decline from peak	-2.12%	-19.32%	+17.20%
Average Drawdown Average peak-to-trough decline	-6.42%	-11.02%	+4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	7.43%	-5.97%

Volatility

FLSP vs. FNGS - Volatility Comparison

The current volatility for Franklin Liberty Systematic Style Premia ETF (FLSP) is 3.54%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 8.31%. This indicates that FLSP experiences smaller price fluctuations and is considered to be less risky than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLSP	FNGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	8.31%	-4.77%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	15.68%	-8.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	26.98%	-14.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.41%	29.97%	-16.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.67%	31.34%	-17.67%