FLXU.L vs. FRUE.L

Last updated Jun 5, 2026

FLXU.L (Franklin LibertyQ U.S. Equity UCITS ETF) and FRUE.L (Franklin LibertyQ U.S. Equity UCITS ETF) are both Large Cap Blend Equities funds from Franklin Templeton tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, FLXU.L returned 13.30%/yr vs 13.31%/yr for FRUE.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

FLXU.L vs. FRUE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) and Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLXU.L is traded in GBP, while FRUE.L is traded in USD. To make them comparable, the FRUE.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FLXU.L having a 12.19% return and FRUE.L slightly higher at 12.48%.

FLXU.L

• 1D: -0.02%
• 1M: 4.25%
• YTD: 12.19%
• 6M: 11.33%
• 1Y: 30.40%
• 3Y*: 15.71%
• 5Y*: 13.30%
• 10Y*: —

FRUE.L

• 1D: -0.02%
• 1M: 5.17%
• YTD: 12.48%
• 6M: 11.87%
• 1Y: 30.66%
• 3Y*: 15.79%
• 5Y*: 13.31%
• 10Y*: —

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

FLXU.L vs. FRUE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLXU.L Franklin LibertyQ U.S. Equity UCITS ETF	12.19%	13.10%	12.49%	8.52%	2.19%	28.57%	5.69%	24.32%	2.24%	8.48%
FRUE.L Franklin LibertyQ U.S. Equity UCITS ETF	12.44%	12.74%	12.10%	9.54%	2.14%	28.05%	6.28%	23.34%	2.51%	8.51%

Correlation

The correlation between FLXU.L and FRUE.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 11, 2017	0.92

The correlation between FLXU.L and FRUE.L has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

FLXU.L vs. FRUE.L - Sectors Allocation Comparison

Sectors	FLXU.L	FRUE.L
Technology	34.3%	34.3%
Communication Services	12.2%	12.2%
Consumer Cyclical	11.5%	11.5%
Healthcare	10.5%	10.5%
Industrials	10.1%	10.1%
Financial Services	9.9%	9.9%
Consumer Defensive	4.4%	4.4%
Real Estate	2.9%	2.9%
Basic Materials	1.7%	1.7%
Utilities	1.6%	1.6%
Energy	1.0%	1.0%

Return for Risk

FLXU.L vs. FRUE.L — Risk / Return Rank

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

FLXU.L

FLXU.L Risk / Return Rank: 86
FLXU.L Sharpe Ratio Rank: 84
FLXU.L Sortino Ratio Rank: 85
FLXU.L Omega Ratio Rank: 84
FLXU.L Calmar Ratio Rank: 89
FLXU.L Martin Ratio Rank: 88

FRUE.L

FRUE.L Risk / Return Rank: 75
FRUE.L Sharpe Ratio Rank: 73
FRUE.L Sortino Ratio Rank: 79
FRUE.L Omega Ratio Rank: 73
FRUE.L Calmar Ratio Rank: 71
FRUE.L Martin Ratio Rank: 81

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.

FLXU.L vs. FRUE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) and Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.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.

	FLXU.L	FRUE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.41	+0.30
Sortino ratio: Return per unit of downside risk	3.77	3.31	+0.46
Omega ratio: Gain probability vs. loss probability	1.50	1.45	+0.05
Calmar ratio: Return relative to maximum drawdown	5.18	5.16	+0.02
Martin ratio: Return relative to average drawdown	18.83	17.84	+0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLXU.L vs. FRUE.L - Sharpe Ratio Comparison

The current FLXU.L Sharpe Ratio is 2.72, which is comparable to the FRUE.L Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FLXU.L and FRUE.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.

Sharpe Ratios by Period

	FLXU.L	FRUE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.41	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	0.94	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.85	+0.05

Drawdowns

FLXU.L vs. FRUE.L - Drawdown Comparison

The maximum FLXU.L drawdown since its inception was -24.72%, roughly equal to the maximum FRUE.L drawdown of -25.31%. Use the drawdown chart below to compare losses from any high point for FLXU.L and FRUE.L.

Drawdown Indicators

	FLXU.L	FRUE.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.72%	-25.31%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.90%	-5.91%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-20.18%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-20.18%	+0.05%
Current Drawdown Current decline from peak	-0.02%	-0.02%	0.00%
Average Drawdown Average peak-to-trough decline	-3.01%	-3.07%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.71%	-0.08%

Volatility

FLXU.L vs. FRUE.L - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) is 3.47%, while Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) has a volatility of 4.07%. This indicates that FLXU.L experiences smaller price fluctuations and is considered to be less risky than FRUE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXU.L	FRUE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	4.07%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	8.19%	9.52%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	12.65%	-1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	14.23%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	15.74%	-0.81%

FLXU.L vs. FRUE.L - Expense Ratio Comparison

Both FLXU.L and FRUE.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FLXU.L vs. FRUE.L - Dividend Comparison

Neither FLXU.L nor FRUE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLXU.L and FRUE.L in my portfolio?

With a correlation of 0.91, FLXU.L and FRUE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FLXU.L or FRUE.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXU.L or FRUE.L?

FLXU.L and FRUE.L have the same expense ratio: 0.25% per year.

What is the main difference between FLXU.L and FRUE.L?

Both ETFs track Russell 1000 TR USD.