FQTEX vs. SHAPX

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Templeton SMACS: Series E (FQTEX) and ClearBridge Appreciation Fund (SHAPX).

FQTEX is managed by Franklin Templeton. It was launched on Jun 2, 2019. SHAPX is managed by Franklin Templeton. It was launched on Mar 10, 1970.

Performance

FQTEX vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Templeton SMACS: Series E (FQTEX) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

FQTEX vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FQTEX Franklin Templeton SMACS: Series E	-1.00%	18.87%	11.38%	11.57%	-0.98%	25.45%	3.35%	16.31%
SHAPX ClearBridge Appreciation Fund	-6.24%	14.32%	22.37%	19.50%	-12.56%	23.52%	14.53%	17.02%

Returns By Period

In the year-to-date period, FQTEX achieves a -1.00% return, which is significantly higher than SHAPX's -6.24% return.

FQTEX

• 1D: -0.29%
• 1M: -5.11%
• YTD: -1.00%
• 6M: 4.56%
• 1Y: 16.64%
• 3Y*: 12.47%
• 5Y*: 10.82%
• 10Y*: —

SHAPX

• 1D: -0.06%
• 1M: -7.91%
• YTD: -6.24%
• 6M: -5.30%
• 1Y: 10.69%
• 3Y*: 14.58%
• 5Y*: 10.06%
• 10Y*: 11.99%

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

FQTEX vs. SHAPX - Expense Ratio Comparison

FQTEX has a 0.00% expense ratio, which is lower than SHAPX's 0.93% expense ratio.

SHAPX

ClearBridge Appreciation Fund

FQTEX

Franklin Templeton SMACS: Series E

Return for Risk

FQTEX vs. SHAPX — Risk / Return Rank

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

FQTEX

FQTEX Risk / Return Rank: 66
FQTEX Sharpe Ratio Rank: 67
FQTEX Sortino Ratio Rank: 72
FQTEX Omega Ratio Rank: 71
FQTEX Calmar Ratio Rank: 51
FQTEX Martin Ratio Rank: 69

SHAPX

SHAPX Risk / Return Rank: 35
SHAPX Sharpe Ratio Rank: 32
SHAPX Sortino Ratio Rank: 34
SHAPX Omega Ratio Rank: 37
SHAPX Calmar Ratio Rank: 32
SHAPX Martin Ratio Rank: 40

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.

FQTEX vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series E (FQTEX) and ClearBridge Appreciation Fund (SHAPX). 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.

	FQTEX	SHAPX	Difference
Sharpe ratio Return per unit of total volatility	1.20	0.72	+0.48
Sortino ratio Return per unit of downside risk	1.79	1.13	+0.66
Omega ratio Gain probability vs. loss probability	1.27	1.17	+0.10
Calmar ratio Return relative to maximum drawdown	1.26	0.89	+0.37
Martin ratio Return relative to average drawdown	6.56	4.11	+2.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FQTEX vs. SHAPX - Sharpe Ratio Comparison

The current FQTEX Sharpe Ratio is 1.20, which is higher than the SHAPX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of FQTEX and SHAPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FQTEX	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	0.72	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.68	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.77	-0.05

Correlation

The correlation between FQTEX and SHAPX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FQTEX vs. SHAPX - Dividend Comparison

FQTEX's dividend yield for the trailing twelve months is around 6.15%, less than SHAPX's 15.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FQTEX Franklin Templeton SMACS: Series E	6.15%	4.74%	6.17%	6.56%	7.78%	10.36%	4.31%	4.13%	0.00%	0.00%	0.00%	0.00%
SHAPX ClearBridge Appreciation Fund	15.01%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Drawdowns

FQTEX vs. SHAPX - Drawdown Comparison

The maximum FQTEX drawdown since its inception was -33.47%, smaller than the maximum SHAPX drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for FQTEX and SHAPX.

Drawdown Indicators

	FQTEX	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.47%	-46.19%	+12.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-10.57%	-0.91%
Max Drawdown (5Y) Largest decline over 5 years	-16.47%	-20.53%	+4.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.21%	—
Current Drawdown Current decline from peak	-5.77%	-8.74%	+2.97%
Average Drawdown Average peak-to-trough decline	-3.47%	-4.79%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.29%	+0.05%

Volatility

FQTEX vs. SHAPX - Volatility Comparison

The current volatility for Franklin Templeton SMACS: Series E (FQTEX) is 3.40%, while ClearBridge Appreciation Fund (SHAPX) has a volatility of 3.74%. This indicates that FQTEX experiences smaller price fluctuations and is considered to be less risky than SHAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FQTEX	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	3.74%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	7.14%	7.86%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	15.90%	-1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.95%	14.85%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	16.70%	+0.21%