FTMS vs. DIVI

Last updated Jun 6, 2026

FTMS (Franklin Short-Term Municipal Income ETF) and DIVI (Franklin International Core Dividend Tilt Index ETF) are both exchange-traded funds - FTMS is a Municipal Bonds fund actively managed by Franklin Templeton, while DIVI is a Foreign Large Cap Equities fund actively managed by Franklin Templeton. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. FTMS charges 0.21%/yr vs 0.09%/yr for DIVI.

Performance

FTMS vs. DIVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Short-Term Municipal Income ETF (FTMS) and Franklin International Core Dividend Tilt Index ETF (DIVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMS achieves a 1.41% return, which is significantly lower than DIVI's 8.85% return.

FTMS

• 1D: 0.05%
• 1M: 0.54%
• YTD: 1.41%
• 6M: 1.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVI

• 1D: -2.52%
• 1M: -2.29%
• YTD: 8.85%
• 6M: 11.27%
• 1Y: 23.88%
• 3Y*: 17.43%
• 5Y*: 13.02%
• 10Y*: 10.75%

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

FTMS vs. DIVI - Yearly Performance Comparison

	2026 (YTD)	2025
FTMS Franklin Short-Term Municipal Income ETF	1.41%	0.37%
DIVI Franklin International Core Dividend Tilt Index ETF	8.85%	3.15%

Correlation

The correlation between FTMS and DIVI is 0.08, 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 Oct 28, 2025	0.08

Return for Risk

FTMS vs. DIVI — Risk / Return Rank

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

DIVI

DIVI Risk / Return Rank: 48
DIVI Sharpe Ratio Rank: 47
DIVI Sortino Ratio Rank: 46
DIVI Omega Ratio Rank: 45
DIVI Calmar Ratio Rank: 48
DIVI Martin Ratio Rank: 52

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.

FTMS vs. DIVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Short-Term Municipal Income ETF (FTMS) and Franklin International Core Dividend Tilt Index ETF (DIVI). 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

	FTMS	DIVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.59	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.65	+1.04

Drawdowns

FTMS vs. DIVI - Drawdown Comparison

The maximum FTMS drawdown since its inception was -1.24%, smaller than the maximum DIVI drawdown of -27.76%. Use the drawdown chart below to compare losses from any high point for FTMS and DIVI.

Drawdown Indicators

	FTMS	DIVI	Difference
Max Drawdown Largest peak-to-trough decline	-1.24%	-27.76%	+26.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.54%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.76%	—
Current Drawdown Current decline from peak	-0.01%	-2.83%	+2.82%
Average Drawdown Average peak-to-trough decline	-0.30%	-3.63%	+3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.74%	—

Volatility

Volatility by Period

	FTMS	DIVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.77%	15.06%	-13.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.77%	15.33%	-13.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.77%	16.48%	-14.71%

FTMS vs. DIVI - Expense Ratio Comparison

FTMS has a 0.21% expense ratio, which is higher than DIVI's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FTMS vs. DIVI - Dividend Comparison

FTMS's dividend yield for the trailing twelve months is around 1.97%, less than DIVI's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVI Franklin International Core Dividend Tilt Index ETF	3.60%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%
FTMS Franklin Short-Term Municipal Income ETF	1.97%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTMS and DIVI in my portfolio?

FTMS and DIVI have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMS or DIVI?

On fees, DIVI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMS or DIVI?

DIVI is cheaper with a 0.09% expense ratio, compared with 0.21% for FTMS.

Which ETF pays a higher dividend yield, FTMS or DIVI?

DIVI has the higher dividend yield at 3.60%, compared with 1.97% for FTMS.

What is the main difference between FTMS and DIVI?

FTMS is categorized as Municipal Bonds, while DIVI is Foreign Large Cap Equities. Their fees differ too: 0.21% for FTMS and 0.09% for DIVI.