FLSP vs. UYLD
FLSP (Franklin Liberty Systematic Style Premia ETF) and UYLD (Angel Oak Ultrashort Income ETF) are both exchange-traded funds - FLSP is a Long-Short fund actively managed by Franklin Templeton, while UYLD is a Ultrashort Bond fund actively managed by Angel Oak. Both are actively managed. Over the past 3 years, FLSP returned 10.00%/yr vs 5.89%/yr for UYLD. At a correlation of -0.05, they often move in opposite directions. FLSP charges 0.65%/yr vs 0.29%/yr for UYLD.
Performance
FLSP vs. UYLD - Performance Comparison
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Returns By Period
In the year-to-date period, FLSP achieves a 1.26% return, which is significantly lower than UYLD's 1.91% return.
FLSP
- 1D
- 0.04%
- 1M
- 1.15%
- YTD
- 1.26%
- 6M
- 3.45%
- 1Y
- 14.67%
- 3Y*
- 10.00%
- 5Y*
- 7.70%
- 10Y*
- —
UYLD
- 1D
- -0.01%
- 1M
- 0.67%
- YTD
- 1.91%
- 6M
- 2.37%
- 1Y
- 5.18%
- 3Y*
- 5.89%
- 5Y*
- —
- 10Y*
- —
FLSP vs. UYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLSP Franklin Liberty Systematic Style Premia ETF | 1.26% | 15.56% | 11.75% | 3.14% | -1.02% |
UYLD Angel Oak Ultrashort Income ETF | 1.91% | 5.36% | 6.10% | 6.90% | 1.12% |
Correlation
The correlation between FLSP and UYLD is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2022 | -0.05 |
The correlation between FLSP and UYLD shifts across timeframes, from -0.17 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLSP vs. UYLD — Risk / Return Rank
FLSP
UYLD
FLSP vs. UYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Systematic Style Premia ETF (FLSP) and Angel Oak Ultrashort Income ETF (UYLD). 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 | UYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.41 | ||
| Sortino ratioReturn per unit of downside risk | -19.64 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 4.35 | -3.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 38.06 | -34.40 |
| Martin ratioReturn relative to average drawdown | 10.59 | 225.76 | -215.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLSP | UYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 8.00 | -6.41 |
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 | 5.98 | -5.68 |
Drawdowns
FLSP vs. UYLD - Drawdown Comparison
The maximum FLSP drawdown since its inception was -22.75%, which is greater than UYLD's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for FLSP and UYLD.
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Drawdown Indicators
| FLSP | UYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.75% | -0.54% | -22.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.03% | -0.14% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.69% | -0.54% | -6.15% |
Max Drawdown (5Y)Largest decline over 5 years | -9.52% | — | — |
Current DrawdownCurrent decline from peak | -1.94% | -0.01% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -0.03% | -6.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.02% | +1.37% |
Volatility
FLSP vs. UYLD - Volatility Comparison
Franklin Liberty Systematic Style Premia ETF (FLSP) has a higher volatility of 1.98% compared to Angel Oak Ultrashort Income ETF (UYLD) at 0.38%. This indicates that FLSP's price experiences larger fluctuations and is considered to be riskier than UYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLSP | UYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 0.38% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 0.50% | +6.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.27% | 0.65% | +8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.37% | 1.00% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.53% | 1.00% | +12.53% |
FLSP vs. UYLD - Expense Ratio Comparison
FLSP has a 0.65% expense ratio, which is higher than UYLD's 0.29% expense ratio.
Dividends
FLSP vs. UYLD - Dividend Comparison
FLSP's dividend yield for the trailing twelve months is around 2.62%, less than UYLD's 5.03% yield.
| Position | 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% |
UYLD Angel Oak Ultrashort Income ETF | 5.03% | 5.07% | 4.97% | 5.92% | 0.75% | 0.00% | 0.00% |
Frequently Asked Questions
FLSP and UYLD have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLSP has higher volatility (1.98%) compared to UYLD (0.38%). In terms of maximum drawdown, FLSP dropped -22.75% vs UYLD's -0.54%.
On 3-year performance, FLSP leads with 10.00% vs 5.89% for UYLD. On fees, UYLD is cheaper at 0.29% per year. On volatility, UYLD has been the lower-risk option at 0.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FLSP has performed better with a 10.00% return vs 5.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UYLD is cheaper with a 0.29% expense ratio, compared with 0.65% for FLSP.
UYLD has the higher dividend yield at 5.03%, compared with 2.62% for FLSP.
FLSP is categorized as Long-Short, while UYLD is Ultrashort Bond. They also come from different issuers: Franklin Templeton and Angel Oak. Their fees differ too: 0.65% for FLSP and 0.29% for UYLD.
UYLD currently has the higher Sharpe Ratio (8.00 vs 1.59), 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.
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