FLUD vs. FLCB
FLUD (Franklin Ultra Short Bond ETF) and FLCB (Franklin U.S. Core Bond ETF) are both exchange-traded funds - FLUD is a Ultrashort Bond fund actively managed by Franklin Templeton, while FLCB is a Intermediate Core Bond fund actively managed by Franklin Templeton. Both are actively managed. Over the past 5 years, FLUD returned 3.74%/yr vs -0.49%/yr for FLCB. Their 0.16 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.
Performance
FLUD vs. FLCB - Performance Comparison
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Returns By Period
In the year-to-date period, FLUD achieves a 2.12% return, which is significantly higher than FLCB's -0.55% return.
FLUD
- 1D
- 0.12%
- 1M
- 0.32%
- 6M
- 1.66%
- YTD
- 2.12%
- 1Y
- 4.21%
- 3Y*
- 5.24%
- 5Y*
- 3.74%
- 10Y*
- —
- ALL TIME*
- 3.26%
FLCB
- 1D
- -0.31%
- 1M
- -1.27%
- 6M
- -0.85%
- YTD
- -0.55%
- 1Y
- 1.88%
- 3Y*
- 3.97%
- 5Y*
- -0.49%
- 10Y*
- —
- ALL TIME*
- 0.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.07M | $9.57M | $9.69M | |
| $1.22M | $5.07M | $7.19M |
FLUD vs. FLCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLUD Franklin Ultra Short Bond ETF | 2.12% | 5.36% | 5.44% | 5.95% | 0.16% | 0.09% | 0.71% |
FLCB Franklin U.S. Core Bond ETF | -0.55% | 6.95% | 1.59% | 5.72% | -13.54% | -1.73% | 1.13% |
Correlation
The correlation between FLUD and FLCB is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020 | 0.16 |
The correlation between FLUD and FLCB shifts across timeframes, from 0.10 (3 years) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLUD vs. FLCB — Risk / Return Rank
FLUD
FLCB
FLUD vs. FLCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Ultra Short Bond ETF (FLUD) and Franklin U.S. Core Bond ETF (FLCB). 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.
| FLUD | FLCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.13 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 9.97 | 0.96 | +9.01 |
| Martin ratioReturn relative to average drawdown | 41.22 | 2.43 | +38.79 |
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Drawdowns
FLUD vs. FLCB - Drawdown Comparison
The maximum FLUD drawdown since its inception was -1.66%, smaller than the maximum FLCB drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for FLUD and FLCB.
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Drawdown Indicators
| FLUD | FLCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.66% | -18.82% | +17.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.44% | -2.85% | +2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -0.59% | -5.03% | +4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -1.66% | -18.48% | +16.82% |
Current DrawdownCurrent decline from peak | 0.00% | -3.16% | +3.16% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -6.52% | +6.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 1.13% | -1.02% |
Volatility
FLUD vs. FLCB - Volatility Comparison
The current volatility for Franklin Ultra Short Bond ETF (FLUD) is 0.23%, while Franklin U.S. Core Bond ETF (FLCB) has a volatility of 0.92%. This indicates that FLUD experiences smaller price fluctuations and is considered to be less risky than FLCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLUD | FLCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 0.92% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 0.77% | 2.93% | -2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.53% | 3.77% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.34% | 5.75% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.25% | 5.47% | -4.22% |
FLUD vs. FLCB - Expense Ratio Comparison
Both FLUD and FLCB have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FLUD vs. FLCB - Dividend Comparison
FLUD's dividend yield for the trailing twelve months is around 4.14%, less than FLCB's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FLCB Franklin U.S. Core Bond ETF | 3.99% | 4.19% | 4.10% | 3.40% | 2.73% | 2.28% | 3.24% | 0.73% |
FLUD Franklin Ultra Short Bond ETF | 3.72% | 4.51% | 4.97% | 4.72% | 1.39% | 0.92% | 0.93% | 0.00% |
Frequently Asked Questions
FLUD and FLCB have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLCB has higher volatility (0.92%) compared to FLUD (0.23%). In terms of maximum drawdown, FLUD dropped -1.66% vs FLCB's -18.82%.
On 5-year performance, FLUD leads with 3.74% vs -0.49% for FLCB. Both ETFs have the same 0.15% expense ratio. On volatility, FLUD has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLUD has performed better with a 3.74% return vs -0.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLUD and FLCB have the same expense ratio: 0.15% per year.
FLCB has the higher dividend yield at 3.99%, compared with 3.72% for FLUD.
FLUD is categorized as Ultrashort Bond, while FLCB is Intermediate Core Bond.
FLUD currently has the higher Sharpe Ratio (2.86 vs 0.73), 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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