FTMN vs. LVHD

Last updated Jun 4, 2026

FTMN (Franklin Minnesota Municipal Income ETF) and LVHD (Legg Mason Low Volatility High Dividend ETF) are both exchange-traded funds - FTMN is a Municipal Bonds fund tracking the Actively Managed, while LVHD is a Volatility Hedged Equity fund tracking the QS Low Volatility High Dividend Index. Both are passively managed. At a 0.09 correlation, their price movements are largely independent. FTMN charges 0.35%/yr vs 0.27%/yr for LVHD.

Performance

FTMN vs. LVHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Minnesota Municipal Income ETF (FTMN) and Legg Mason Low Volatility High Dividend ETF (LVHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMN achieves a 1.52% return, which is significantly lower than LVHD's 6.72% return.

FTMN

• 1D: -0.06%
• 1M: 0.55%
• YTD: 1.52%
• 6M: 2.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LVHD

• 1D: -0.14%
• 1M: -1.27%
• YTD: 6.72%
• 6M: 6.51%
• 1Y: 9.60%
• 3Y*: 9.33%
• 5Y*: 6.06%
• 10Y*: 8.03%

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

FTMN vs. LVHD - Yearly Performance Comparison

	2026 (YTD)	2025
FTMN Franklin Minnesota Municipal Income ETF	1.52%	0.61%
LVHD Legg Mason Low Volatility High Dividend ETF	6.72%	0.96%

Correlation

The correlation between FTMN and LVHD is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025	0.09

Return for Risk

FTMN vs. LVHD — Risk / Return Rank

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

LVHD

LVHD Risk / Return Rank: 28
LVHD Sharpe Ratio Rank: 28
LVHD Sortino Ratio Rank: 27
LVHD Omega Ratio Rank: 25
LVHD Calmar Ratio Rank: 31
LVHD Martin Ratio Rank: 28

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.

FTMN vs. LVHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Minnesota Municipal Income ETF (FTMN) and Legg Mason Low Volatility High Dividend ETF (LVHD). 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

	FTMN	LVHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.47	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.56	+0.38

Drawdowns

FTMN vs. LVHD - Drawdown Comparison

The maximum FTMN drawdown since its inception was -3.10%, smaller than the maximum LVHD drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for FTMN and LVHD.

Drawdown Indicators

	FTMN	LVHD	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-37.32%	+34.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.32%	—
Current Drawdown Current decline from peak	-0.41%	-4.84%	+4.43%
Average Drawdown Average peak-to-trough decline	-0.71%	-4.05%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.42%	—

Volatility

Volatility by Period

	FTMN	LVHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	9.52%	-5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.14%	12.87%	-8.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.14%	15.50%	-11.36%

FTMN vs. LVHD - Expense Ratio Comparison

FTMN has a 0.35% expense ratio, which is higher than LVHD's 0.27% expense ratio.

Dividends

FTMN vs. LVHD - Dividend Comparison

FTMN's dividend yield for the trailing twelve months is around 1.83%, less than LVHD's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTMN Franklin Minnesota Municipal Income ETF	1.83%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LVHD Legg Mason Low Volatility High Dividend ETF	3.40%	3.35%	4.23%	3.55%	3.30%	2.56%	3.27%	3.30%	3.82%	3.33%	2.48%

Frequently Asked Questions

Can I hold both FTMN and LVHD in my portfolio?

FTMN and LVHD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMN or LVHD?

On fees, LVHD is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMN or LVHD?

LVHD is cheaper with a 0.27% expense ratio, compared with 0.35% for FTMN.

Which ETF pays a higher dividend yield, FTMN or LVHD?

LVHD has the higher dividend yield at 3.40%, compared with 1.83% for FTMN.

What is the main difference between FTMN and LVHD?

FTMN is categorized as Municipal Bonds, while LVHD is Volatility Hedged Equity. FTMN tracks Actively Managed, while LVHD tracks QS Low Volatility High Dividend Index. Their fees differ too: 0.35% for FTMN and 0.27% for LVHD.