FLSW vs. PBEU

Last updated Jun 24, 2026

FLSW (Franklin FTSE Switzerland ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - FLSW is a Europe Equities fund tracking the FTSE Switzerland RIC Capped Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. FLSW charges 0.09%/yr vs 0.13%/yr for PBEU.

Performance

FLSW vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Switzerland ETF (FLSW) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLSW achieves a 4.52% return, which is significantly lower than PBEU's 13.63% return.

FLSW

• 1D: 0.48%
• 1M: -0.04%
• YTD: 4.52%
• 6M: 3.79%
• 1Y: 17.63%
• 3Y*: 12.98%
• 5Y*: 7.06%
• 10Y*: —

PBEU

• 1D: -1.42%
• 1M: 7.22%
• YTD: 13.63%
• 6M: 14.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLSW vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
FLSW Franklin FTSE Switzerland ETF	4.52%	6.49%
PBEU Portfolio Building Block European Banks Index ETF	13.63%	11.42%

Correlation

The correlation between FLSW and PBEU is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.68

Return for Risk

FLSW vs. PBEU — Risk / Return Rank

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

FLSW

FLSW Risk / Return Rank: 31
FLSW Sharpe Ratio Rank: 33
FLSW Sortino Ratio Rank: 34
FLSW Omega Ratio Rank: 31
FLSW Calmar Ratio Rank: 28
FLSW Martin Ratio Rank: 31

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FLSW vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Switzerland ETF (FLSW) and Portfolio Building Block European Banks Index ETF (PBEU). 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.

	FLSW	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	1.14	—	—
Sortino ratio: Return per unit of downside risk	1.71	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.32	—	—
Martin ratio: Return relative to average drawdown	4.20	—	—

Drawdowns

FLSW vs. PBEU - Drawdown Comparison

The maximum FLSW drawdown since its inception was -28.16%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for FLSW and PBEU.

Drawdown Indicators

	FLSW	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-28.16%	-17.26%	-10.90%
Max Drawdown (1Y) Largest decline over 1 year	-13.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.16%	—	—
Current Drawdown Current decline from peak	-3.81%	-1.42%	-2.39%
Average Drawdown Average peak-to-trough decline	-5.95%	-3.94%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	—	—

Volatility

Volatility by Period

	FLSW	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	27.63%	-11.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	27.63%	-11.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	27.63%	-10.75%

FLSW vs. PBEU - Expense Ratio Comparison

FLSW has a 0.09% expense ratio, which is lower than PBEU's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLSW vs. PBEU - Dividend Comparison

FLSW's dividend yield for the trailing twelve months is around 0.12%, more than PBEU's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLSW Franklin FTSE Switzerland ETF	0.12%	2.12%	2.04%	2.36%	2.02%	1.86%	2.28%	1.15%	2.86%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLSW and PBEU in my portfolio?

FLSW and PBEU have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLSW or PBEU?

On fees, FLSW is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLSW or PBEU?

FLSW is cheaper with a 0.09% expense ratio, compared with 0.13% for PBEU.

Which ETF pays a higher dividend yield, FLSW or PBEU?

FLSW has the higher dividend yield at 0.12%, compared with 0.01% for PBEU.

What is the main difference between FLSW and PBEU?

FLSW is categorized as Europe Equities, while PBEU is Financials Equities. FLSW tracks FTSE Switzerland RIC Capped Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: Franklin Templeton and Portfolio Building Block. Their fees differ too: 0.09% for FLSW and 0.13% for PBEU.