FSML vs. EZBC
FSML (Franklin Small Cap Enhanced ETF) and EZBC (Franklin Bitcoin ETF) are both exchange-traded funds - FSML is a Small Cap Blend Equities fund actively managed by Franklin Templeton, while EZBC is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. FSML is actively managed, while EZBC is passively managed. At a 0.46 correlation, their price movements are largely independent. FSML charges 0.45%/yr vs 0.19%/yr for EZBC.
Performance
FSML vs. EZBC - Performance Comparison
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Returns By Period
In the year-to-date period, FSML achieves a 14.90% return, which is significantly higher than EZBC's -31.15% return.
FSML
- 1D
- -3.10%
- 1M
- -0.56%
- YTD
- 14.90%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EZBC
- 1D
- -5.09%
- 1M
- -26.01%
- YTD
- -31.15%
- 6M
- -32.61%
- 1Y
- -40.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSML vs. EZBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FSML Franklin Small Cap Enhanced ETF | 14.90% | -3.75% |
EZBC Franklin Bitcoin ETF | -31.15% | -4.78% |
Correlation
The correlation between FSML and EZBC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025 | 0.46 |
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Return for Risk
FSML vs. EZBC — Risk / Return Rank
FSML
EZBC
FSML vs. EZBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Small Cap Enhanced ETF (FSML) and Franklin Bitcoin ETF (EZBC). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| FSML | EZBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.94 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.22 | +0.92 |
Drawdowns
FSML vs. EZBC - Drawdown Comparison
The maximum FSML drawdown since its inception was -10.83%, smaller than the maximum EZBC drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for FSML and EZBC.
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Drawdown Indicators
| FSML | EZBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.83% | -52.07% | +41.24% |
Max Drawdown (1Y)Largest decline over 1 year | — | -52.07% | — |
Current DrawdownCurrent decline from peak | -3.10% | -52.07% | +48.97% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -16.13% | +13.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 28.78% | — |
Volatility
FSML vs. EZBC - Volatility Comparison
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Volatility by Period
| FSML | EZBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.87% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.18% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.71% | 43.97% | -23.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 50.12% | -29.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 50.12% | -29.41% |
FSML vs. EZBC - Expense Ratio Comparison
FSML has a 0.45% expense ratio, which is higher than EZBC's 0.19% expense ratio.
Dividends
FSML vs. EZBC - Dividend Comparison
FSML's dividend yield for the trailing twelve months is around 0.16%, while EZBC has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
EZBC Franklin Bitcoin ETF | 0.00% | 0.00% |
FSML Franklin Small Cap Enhanced ETF | 0.16% | 0.06% |
Frequently Asked Questions
FSML and EZBC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EZBC is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EZBC is cheaper with a 0.19% expense ratio, compared with 0.45% for FSML.
FSML has the higher dividend yield at 0.16%, compared with 0.00% for EZBC.
FSML is categorized as Small Cap Blend Equities, while EZBC is Cryptocurrency. Their fees differ too: 0.45% for FSML and 0.19% for EZBC.
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