FTMH vs. FGDL

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Municipal High Yield ETF (FTMH) and Franklin Responsibly Sourced Gold ETF (FGDL).

FTMH and FGDL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTMH is an actively managed fund by Franklin Templeton. It was launched on May 22, 2018. FGDL is a passively managed fund by Franklin Templeton that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Jun 30, 2022.

Performance

FTMH vs. FGDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Municipal High Yield ETF (FTMH) and Franklin Responsibly Sourced Gold ETF (FGDL). The values are adjusted to include any dividend payments, if applicable.

FTMH vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025
FTMH Franklin Municipal High Yield ETF	0.39%	0.11%
FGDL Franklin Responsibly Sourced Gold ETF	7.93%	8.41%

Returns By Period

In the year-to-date period, FTMH achieves a 0.39% return, which is significantly lower than FGDL's 7.93% return.

FTMH

• 1D: 0.26%
• 1M: -2.44%
• YTD: 0.39%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGDL

• 1D: 3.39%
• 1M: -11.22%
• YTD: 7.93%
• 6M: 20.34%
• 1Y: 48.63%
• 3Y*: 33.11%
• 5Y*: —
• 10Y*: —

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

FTMH vs. FGDL - Expense Ratio Comparison

FTMH has a 0.35% expense ratio, which is higher than FGDL's 0.15% expense ratio.

FTMH

Franklin Municipal High Yield ETF

FGDL

Franklin Responsibly Sourced Gold ETF

Return for Risk

FTMH vs. FGDL — Risk / Return Rank

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

FGDL

FGDL Risk / Return Rank: 85
FGDL Sharpe Ratio Rank: 87
FGDL Sortino Ratio Rank: 84
FGDL Omega Ratio Rank: 83
FGDL Calmar Ratio Rank: 87
FGDL Martin Ratio Rank: 85

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.

FTMH vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Municipal High Yield ETF (FTMH) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

Sharpe Ratios by Period

	FTMH	FGDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	1.52	-1.21

Correlation

The correlation between FTMH and FGDL is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FTMH vs. FGDL - Dividend Comparison

FTMH's dividend yield for the trailing twelve months is around 1.61%, while FGDL has not paid dividends to shareholders.

	TTM	2025
FTMH Franklin Municipal High Yield ETF	1.61%	0.86%
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%

Drawdowns

FTMH vs. FGDL - Drawdown Comparison

The maximum FTMH drawdown since its inception was -3.12%, smaller than the maximum FGDL drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for FTMH and FGDL.

Drawdown Indicators

	FTMH	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-3.12%	-19.23%	+16.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.23%	—
Current Drawdown Current decline from peak	-2.44%	-13.76%	+11.32%
Average Drawdown Average peak-to-trough decline	-0.58%	-3.34%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.33%	—

Volatility

Volatility by Period

	FTMH	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	28.00%	-24.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.88%	18.96%	-15.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.88%	18.96%	-15.08%