FTOH vs. FGDL

Last updated Jul 11, 2026

FTOH (Franklin Ohio Municipal Income ETF) and FGDL (Franklin Responsibly Sourced Gold ETF) are both exchange-traded funds - FTOH is a Municipal Bonds fund tracking the Actively Managed, while FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. At a 0.25 correlation, their price movements are largely independent. FTOH charges 0.35%/yr vs 0.15%/yr for FGDL.

Performance

FTOH vs. FGDL - Performance Comparison

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

Returns By Period

In the year-to-date period, FTOH achieves a 2.55% return, which is significantly higher than FGDL's -5.17% return.

FTOH

• 1D: 0.06%
• 1M: 0.42%
• 6M: 2.07%
• YTD: 2.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGDL

• 1D: -0.58%
• 1M: -2.43%
• 6M: -8.99%
• YTD: -5.17%
• 1Y: 22.11%
• 3Y*: 28.35%
• 5Y*: —
• 10Y*: —

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

FTOH vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025
FTOH Franklin Ohio Municipal Income ETF	2.55%	0.08%
FGDL Franklin Responsibly Sourced Gold ETF	-5.17%	7.70%

Correlation

The correlation between FTOH and FGDL is 0.25, 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 Nov 10, 2025	0.25

Return for Risk

FTOH vs. FGDL — Risk / Return Rank

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

FTOH

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

FGDL

FGDL Risk / Return Rank: 25
FGDL Sharpe Ratio Rank: 28
FGDL Sortino Ratio Rank: 25
FGDL Omega Ratio Rank: 30
FGDL Calmar Ratio Rank: 23
FGDL Martin Ratio Rank: 22

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.

FTOH vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ohio Municipal Income ETF (FTOH) 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.

	FTOH	FGDL	Difference
Sharpe ratio: Return per unit of total volatility	—	0.83	—
Sortino ratio: Return per unit of downside risk	—	1.19	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	0.88	—
Martin ratio: Return relative to average drawdown	—	2.18	—

Drawdowns

FTOH vs. FGDL - Drawdown Comparison

The maximum FTOH drawdown since its inception was -2.59%, smaller than the maximum FGDL drawdown of -26.48%. Use the drawdown chart below to compare losses from any high point for FTOH and FGDL.

Drawdown Indicators

	FTOH	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-26.48%	+23.89%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.48%	—
Current Drawdown Current decline from peak	-0.47%	-24.23%	+23.76%
Average Drawdown Average peak-to-trough decline	-0.50%	-4.32%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.70%	—

Volatility

Volatility by Period

	FTOH	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.49%	28.00%	-24.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.49%	19.36%	-15.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.49%	19.36%	-15.87%

FTOH vs. FGDL - Expense Ratio Comparison

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

Dividends

FTOH vs. FGDL - Dividend Comparison

FTOH's dividend yield for the trailing twelve months is around 2.54%, while FGDL has not paid dividends to shareholders.

Position	TTM	2025
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%
FTOH Franklin Ohio Municipal Income ETF	2.54%	0.56%

Frequently Asked Questions

Can I hold both FTOH and FGDL in my portfolio?

FTOH and FGDL have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTOH or FGDL?

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.

Which ETF is cheaper, FTOH or FGDL?

FGDL is cheaper with a 0.15% expense ratio, compared with 0.35% for FTOH.

Which ETF pays a higher dividend yield, FTOH or FGDL?

FTOH has the higher dividend yield at 2.54%, compared with 0.00% for FGDL.

What is the main difference between FTOH and FGDL?

FTOH is categorized as Municipal Bonds, while FGDL is Gold. FTOH tracks Actively Managed, while FGDL tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 0.35% for FTOH and 0.15% for FGDL.