FTMS vs. FGDL
FTMS (Franklin Short-Term Municipal Income ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - FTMS is a Municipal Bonds fund actively managed by Franklin Templeton, while FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). FTMS is actively managed, while FGDL is passively managed. At a 0.15 correlation, their price movements are largely independent. FTMS charges 0.21%/yr vs 0.15%/yr for FGDL.
Performance
FTMS vs. FGDL - Performance Comparison
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Returns By Period
In the year-to-date period, FTMS achieves a 1.57% return, which is significantly higher than FGDL's -8.11% return.
FTMS
- 1D
- -0.05%
- 1M
- 0.26%
- 6M
- 1.16%
- YTD
- 1.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FGDL
- 1D
- -1.85%
- 1M
- -8.31%
- 6M
- -13.95%
- YTD
- -8.11%
- 1Y
- 18.68%
- 3Y*
- 26.52%
- 5Y*
- —
- 10Y*
- —
FTMS vs. FGDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTMS Franklin Short-Term Municipal Income ETF | 1.57% | 0.47% |
FGDL Franklin Responsibly Sourced Gold ETF | -8.11% | 4.96% |
Correlation
The correlation between FTMS and FGDL is 0.15, 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 Oct 27, 2025 | 0.15 |
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Return for Risk
FTMS vs. FGDL — Risk / Return Rank
FTMS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FGDL
FTMS vs. FGDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Short-Term Municipal Income ETF (FTMS) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FTMS | FGDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.14 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.71 | — |
| Martin ratioReturn relative to average drawdown | — | 1.67 | — |
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Drawdowns
FTMS vs. FGDL - Drawdown Comparison
The maximum FTMS drawdown since its inception was -1.24%, smaller than the maximum FGDL drawdown of -26.58%. Use the drawdown chart below to compare losses from any high point for FTMS and FGDL.
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Drawdown Indicators
| FTMS | FGDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.24% | -26.58% | +25.34% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.58% | — |
Current DrawdownCurrent decline from peak | -0.15% | -26.58% | +26.43% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -4.41% | +4.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.19% | — |
Volatility
FTMS vs. FGDL - Volatility Comparison
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Volatility by Period
| FTMS | FGDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.58% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 24.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.69% | 28.20% | -26.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 19.41% | -17.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.69% | 19.41% | -17.72% |
FTMS vs. FGDL - Expense Ratio Comparison
FTMS has a 0.21% expense ratio, which is higher than FGDL's 0.15% 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. FGDL - Dividend Comparison
FTMS's dividend yield for the trailing twelve months is around 2.24%, while FGDL has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | 0.00% | 0.00% |
FTMS Franklin Short-Term Municipal Income ETF | 2.24% | 0.57% |
Frequently Asked Questions
FTMS and FGDL have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FGDL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FGDL is cheaper with a 0.15% expense ratio, compared with 0.21% for FTMS.
FTMS has the higher dividend yield at 2.24%, compared with 0.00% for FGDL.
FTMS is categorized as Municipal Bonds, while FGDL is Gold. Their fees differ too: 0.21% for FTMS and 0.15% for FGDL.
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