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FLXD.L vs. UD02.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLXD.L vs. UD02.L

Last updated Jun 25, 2026

FLXD.L (Franklin European Quality Dividend UCITS ETF) and UD02.L (UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis) are both Europe Equities funds - FLXD.L tracks the MSCI Europe High Div Yld NR EUR while UD02.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, FLXD.L returned 12.45%/yr vs 6.66%/yr for UD02.L. A 0.77 correlation means they provide meaningful diversification when combined. FLXD.L charges 0.25%/yr vs 0.28%/yr for UD02.L.

Performance

FLXD.L vs. UD02.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin European Quality Dividend UCITS ETF (FLXD.L) and UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis (UD02.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FLXD.L is traded in GBP, while UD02.L is traded in GBp. To make them comparable, the UD02.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLXD.L achieves a 10.05% return, which is significantly higher than UD02.L's 8.93% return.

FLXD.L

1D
-0.10%
1M
-1.58%
YTD
10.05%
6M
10.51%
1Y
20.92%
3Y*
19.71%
5Y*
12.45%
10Y*
—

UD02.L

1D
0.76%
1M
2.39%
YTD
8.93%
6M
9.35%
1Y
13.52%
3Y*
12.40%
5Y*
6.66%
10Y*
7.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLXD.L vs. UD02.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLXD.L
Franklin European Quality Dividend UCITS ETF		10.05%30.47%7.67%8.27%5.37%9.65%1.13%17.43%-7.79%-11.45%
UD02.L
UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis		8.93%22.44%0.56%9.91%-9.99%11.20%-2.65%16.38%-5.80%1.19%

Correlation

The correlation between FLXD.L and UD02.L is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Sep 6, 2017

0.77

The correlation between FLXD.L and UD02.L has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

FLXD.L vs. UD02.L - Sectors Allocation Comparison

Sectors
FLXD.L
UD02.L

Financial Services

42.8%
22.8%

Communication Services

15.0%
8.6%

Healthcare

8.9%
3.2%

Energy

8.7%
2.2%

Industrials

7.1%
19.0%

Basic Materials

6.7%
2.8%

Real Estate

4.5%
3.1%

Consumer Defensive

3.7%
18.3%

Consumer Cyclical

1.2%
1.4%

Technology

0.8%

-

Utilities

0.7%
18.7%

Financial Services

FLXD.L
42.8%
UD02.L
22.8%

Communication Services

FLXD.L
15.0%
UD02.L
8.6%

Healthcare

FLXD.L
8.9%
UD02.L
3.2%

Energy

FLXD.L
8.7%
UD02.L
2.2%

Industrials

FLXD.L
7.1%
UD02.L
19.0%

Basic Materials

FLXD.L
6.7%
UD02.L
2.8%

Real Estate

FLXD.L
4.5%
UD02.L
3.1%

Consumer Defensive

FLXD.L
3.7%
UD02.L
18.3%

Consumer Cyclical

FLXD.L
1.2%
UD02.L
1.4%

Technology

FLXD.L
0.8%
UD02.L

-

Utilities

FLXD.L
0.7%
UD02.L
18.7%

Compare stocks, funds, or ETFs

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Franklin European Quality Dividend UCITS ETF

UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis

Often compared with FLXD.L:
FLXD.L vs. TDGB.LFLXD.L vs. LDEG.LFLXD.L vs. XSTC.LFLXD.L vs. EQDS.LFLXD.L vs. S7XP.LFLXD.L vs. IDVY.LFLXD.L vs. VUAG.L
Often compared with UD02.L:
UD02.L vs. FEUZ.LUD02.L vs. VLEU.DEUD02.L vs. EEIP.LUD02.L vs. SX5S.LUD02.L vs. HDEU.LUD02.L vs. IMV.LUD02.L vs. CEUR.L

Return for Risk

FLXD.L vs. UD02.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLXD.L
FLXD.L Risk / Return Rank: 8686
Overall Rank
FLXD.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FLXD.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
FLXD.L Omega Ratio Rank: 8282
Omega Ratio Rank
FLXD.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
FLXD.L Martin Ratio Rank: 8383
Martin Ratio Rank
UD02.L
UD02.L Risk / Return Rank: 3838
Overall Rank
UD02.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
UD02.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
UD02.L Omega Ratio Rank: 4444
Omega Ratio Rank
UD02.L Calmar Ratio Rank: 3131
Calmar Ratio Rank
UD02.L Martin Ratio Rank: 3232
Martin Ratio Rank
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.

FLXD.L vs. UD02.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin European Quality Dividend UCITS ETF (FLXD.L) and UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis (UD02.L). 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.

FLXD.LUD02.LDifference
Sharpe ratioReturn per unit of total volatility
2.42
1.35

+1.06

Sortino ratioReturn per unit of downside risk
3.54
1.78

+1.76

Omega ratioGain probability vs. loss probability

1.43

1.25

+0.18

Calmar ratioReturn relative to maximum drawdown

5.65

1.41

+4.24

Martin ratioReturn relative to average drawdown

15.11

4.14

+10.98

FLXD.L vs. UD02.L - Sharpe Ratio Comparison

The current FLXD.L Sharpe Ratio is 2.42, which is higher than the UD02.L Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of FLXD.L and UD02.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLXD.L vs. UD02.L - Drawdown Comparison

The maximum FLXD.L drawdown since its inception was -30.29%, smaller than the maximum UD02.L drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for FLXD.L and UD02.L.

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Drawdown Indicators

FLXD.LUD02.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.29%

-33.25%

+2.96%

Max Drawdown (1Y)

Largest decline over 1 year

-3.68%

-9.54%

+5.86%

Max Drawdown (3Y)

Largest decline over 3 years

-7.80%

-9.54%

+1.74%

Max Drawdown (5Y)

Largest decline over 5 years

-12.31%

-21.37%

+9.06%

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.80%

—

Current Drawdown

Current decline from peak

-2.06%

-2.11%

+0.05%

Average Drawdown

Average peak-to-trough decline

-5.38%

-7.23%

+1.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.38%

3.26%

-1.88%

Volatility

FLXD.L vs. UD02.L - Volatility Comparison

Franklin European Quality Dividend UCITS ETF (FLXD.L) has a higher volatility of 2.36% compared to UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis (UD02.L) at 2.23%. This indicates that FLXD.L's price experiences larger fluctuations and is considered to be riskier than UD02.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLXD.LUD02.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.36%

2.23%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

7.00%

8.30%

-1.30%

Volatility (1Y)

Calculated over the trailing 1-year period

8.65%

9.94%

-1.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.87%

12.43%

-1.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.15%

13.83%

-0.68%

FLXD.L vs. UD02.L - Expense Ratio Comparison

FLXD.L has a 0.25% expense ratio, which is lower than UD02.L's 0.28% expense ratio.

Dividends

FLXD.L vs. UD02.L - Dividend Comparison

FLXD.L's dividend yield for the trailing twelve months is around 3.99%, more than UD02.L's 2.26% yield.

PositionTTM2025202420232022202120202019201820172016
FLXD.L
Franklin European Quality Dividend UCITS ETF		3.99%4.20%4.36%4.96%5.02%4.72%3.57%4.56%5.43%0.00%0.00%
UD02.L
UBS ETF (LU) Factor MSCI EMU Low Volatility UCITS ETF (EUR) A-dis		2.26%3.03%4.76%2.56%2.38%2.25%2.16%2.80%2.65%1.92%2.37%

Frequently Asked Questions

FLXD.L and UD02.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FLXD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLXD.L is cheaper with a 0.25% expense ratio, compared with 0.28% for UD02.L.

FLXD.L tracks MSCI Europe High Div Yld NR EUR, while UD02.L tracks MSCI EMU NR EUR. They also come from different issuers: Franklin Templeton and UBS. Their fees differ too: 0.25% for FLXD.L and 0.28% for UD02.L.

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