FTMU vs. FLCH

Last updated Jun 27, 2026

FTMU (Franklin Municipal Income ETF) and FLCH (Franklin FTSE China ETF) are both exchange-traded funds - FTMU is a Municipal Bonds fund actively managed by Franklin Templeton, while FLCH is a China Equities fund tracking the FTSE China RIC Capped Index. FTMU is actively managed, while FLCH is passively managed. At a 0.20 correlation, their price movements are largely independent. FTMU charges 0.30%/yr vs 0.19%/yr for FLCH.

Performance

FTMU vs. FLCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Municipal Income ETF (FTMU) and Franklin FTSE China ETF (FLCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMU achieves a 3.29% return, which is significantly higher than FLCH's -14.24% return.

FTMU

• 1D: 0.00%
• 1M: 1.53%
• YTD: 3.29%
• 6M: 3.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLCH

• 1D: -0.24%
• 1M: -7.76%
• YTD: -14.24%
• 6M: -15.93%
• 1Y: -5.00%
• 3Y*: 7.33%
• 5Y*: -6.67%
• 10Y*: —

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

FTMU vs. FLCH - Yearly Performance Comparison

	2026 (YTD)	2025
FTMU Franklin Municipal Income ETF	3.29%	-0.08%
FLCH Franklin FTSE China ETF	-14.24%	-4.99%

Correlation

The correlation between FTMU and FLCH is 0.20, 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	0.20

Return for Risk

FTMU vs. FLCH — Risk / Return Rank

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

FTMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FLCH

FLCH Risk / Return Rank: 7
FLCH Sharpe Ratio Rank: 7
FLCH Sortino Ratio Rank: 7
FLCH Omega Ratio Rank: 7
FLCH Calmar Ratio Rank: 7
FLCH Martin Ratio Rank: 7

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.

FTMU vs. FLCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Municipal Income ETF (FTMU) and Franklin FTSE China ETF (FLCH). 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.

	FTMU	FLCH	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.26	—
Sortino ratio: Return per unit of downside risk	—	-0.24	—
Omega ratio: Gain probability vs. loss probability	—	0.97	—
Calmar ratio: Return relative to maximum drawdown	—	-0.23	—
Martin ratio: Return relative to average drawdown	—	-0.58	—

Drawdowns

FTMU vs. FLCH - Drawdown Comparison

The maximum FTMU drawdown since its inception was -3.07%, smaller than the maximum FLCH drawdown of -62.09%. Use the drawdown chart below to compare losses from any high point for FTMU and FLCH.

Drawdown Indicators

	FTMU	FLCH	Difference
Max Drawdown Largest peak-to-trough decline	-3.07%	-62.09%	+59.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.78%	—
Current Drawdown Current decline from peak	0.00%	-39.54%	+39.54%
Average Drawdown Average peak-to-trough decline	-0.64%	-30.56%	+29.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.63%	—

Volatility

Volatility by Period

	FTMU	FLCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	19.27%	-15.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	29.61%	-26.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	27.85%	-24.27%

FTMU vs. FLCH - Expense Ratio Comparison

FTMU has a 0.30% expense ratio, which is higher than FLCH's 0.19% expense ratio.

Dividends

FTMU vs. FLCH - Dividend Comparison

FTMU's dividend yield for the trailing twelve months is around 2.37%, less than FLCH's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCH Franklin FTSE China ETF	2.52%	2.36%	2.87%	3.47%	2.69%	1.48%	0.91%	1.98%	1.92%	0.01%
FTMU Franklin Municipal Income ETF	2.37%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTMU and FLCH in my portfolio?

FTMU and FLCH have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMU or FLCH?

On fees, FLCH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMU or FLCH?

FLCH is cheaper with a 0.19% expense ratio, compared with 0.30% for FTMU.

Which ETF pays a higher dividend yield, FTMU or FLCH?

FLCH has the higher dividend yield at 2.52%, compared with 2.37% for FTMU.

What is the main difference between FTMU and FLCH?

FTMU is categorized as Municipal Bonds, while FLCH is China Equities. Their fees differ too: 0.30% for FTMU and 0.19% for FLCH.