FUSD.L vs. FRXD.L

Last updated Jul 18, 2026

FUSD.L (Fidelity US Quality Income UCITS ETF Income USD Shares) and FRXD.L (Franklin European Quality Dividend UCITS ETF EUR (Dist)) are both exchange-traded funds - FUSD.L is a Dividend fund tracking the Fidelity US Quality Income Index NR, while FRXD.L is a Europe Equities fund tracking the LibertyQ European Dividend Index-NR. Both are passively managed. Over the past 5 years, FUSD.L returned 12.01%/yr vs 11.86%/yr for FRXD.L. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

FUSD.L vs. FRXD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity US Quality Income UCITS ETF Income USD Shares (FUSD.L) and Franklin European Quality Dividend UCITS ETF EUR (Dist) (FRXD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FUSD.L is traded in USD, while FRXD.L is traded in EUR. To make them comparable, the FRXD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FUSD.L having a 9.61% return and FRXD.L slightly higher at 9.92%.

FUSD.L

• 1D: -0.74%
• 1M: 1.51%
• 6M: 8.39%
• YTD: 9.61%
• 1Y: 20.50%
• 3Y*: 16.96%
• 5Y*: 12.01%
• 10Y*: —

FRXD.L

• 1D: 0.75%
• 1M: -0.26%
• 6M: 10.22%
• YTD: 9.92%
• 1Y: 18.70%
• 3Y*: 20.09%
• 5Y*: 11.86%
• 10Y*: —

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

FUSD.L vs. FRXD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUSD.L Fidelity US Quality Income UCITS ETF Income USD Shares	9.61%	16.47%	18.77%	18.47%	-10.57%	26.18%	11.83%	31.49%	-4.53%	11.13%
FRXD.L Franklin European Quality Dividend UCITS ETF EUR (Dist)	9.92%	40.67%	5.78%	13.81%	-6.02%	9.28%	4.18%	22.05%	-13.54%	-0.85%

Correlation

The correlation between FUSD.L and FRXD.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.56

The correlation between FUSD.L and FRXD.L shifts across timeframes, from 0.37 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FUSD.L vs. FRXD.L — Risk / Return Rank

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

FUSD.L

FUSD.L Risk / Return Rank: 75
FUSD.L Sharpe Ratio Rank: 76
FUSD.L Sortino Ratio Rank: 84
FUSD.L Omega Ratio Rank: 75
FUSD.L Calmar Ratio Rank: 65
FUSD.L Martin Ratio Rank: 76

FRXD.L

FRXD.L Risk / Return Rank: 91
FRXD.L Sharpe Ratio Rank: 90
FRXD.L Sortino Ratio Rank: 91
FRXD.L Omega Ratio Rank: 89
FRXD.L Calmar Ratio Rank: 96
FRXD.L Martin Ratio Rank: 89

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.

FUSD.L vs. FRXD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity US Quality Income UCITS ETF Income USD Shares (FUSD.L) and Franklin European Quality Dividend UCITS ETF EUR (Dist) (FRXD.L). 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.

	FUSD.L	FRXD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.70	+0.25
Sortino ratio: Return per unit of downside risk	3.05	2.39	+0.66
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	2.57	3.92	-1.35
Martin ratio: Return relative to average drawdown	11.07	8.88	+2.19

FUSD.L vs. FRXD.L - Sharpe Ratio Comparison

The current FUSD.L Sharpe Ratio is 1.94, which is comparable to the FRXD.L Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of FUSD.L and FRXD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FUSD.L vs. FRXD.L - Drawdown Comparison

The maximum FUSD.L drawdown since its inception was -35.89%, roughly equal to the maximum FRXD.L drawdown of -36.94%. Use the drawdown chart below to compare losses from any high point for FUSD.L and FRXD.L.

Drawdown Indicators

	FUSD.L	FRXD.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.89%	-36.94%	+1.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.94%	-4.75%	-3.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-10.09%	-7.51%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-26.28%	+6.95%
Current Drawdown Current decline from peak	-0.74%	-2.25%	+1.51%
Average Drawdown Average peak-to-trough decline	-3.82%	-6.09%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.10%	-0.25%

Volatility

FUSD.L vs. FRXD.L - Volatility Comparison

The current volatility for Fidelity US Quality Income UCITS ETF Income USD Shares (FUSD.L) is 2.47%, while Franklin European Quality Dividend UCITS ETF EUR (Dist) (FRXD.L) has a volatility of 2.70%. This indicates that FUSD.L experiences smaller price fluctuations and is considered to be less risky than FRXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUSD.L	FRXD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	2.70%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	8.18%	8.58%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	10.98%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.65%	14.45%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	15.62%	+0.08%

FUSD.L vs. FRXD.L - Expense Ratio Comparison

Both FUSD.L and FRXD.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FUSD.L vs. FRXD.L - Dividend Comparison

FUSD.L's dividend yield for the trailing twelve months is around 1.40%, less than FRXD.L's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRXD.L Franklin European Quality Dividend UCITS ETF EUR (Dist)	3.91%	4.28%	4.30%	5.00%	5.20%	4.63%	3.53%	4.42%	5.53%	0.00%
FUSD.L Fidelity US Quality Income UCITS ETF Income USD Shares	1.40%	1.47%	2.79%	2.10%	2.31%	2.30%	2.30%	1.95%	2.19%	1.24%

Frequently Asked Questions

Can I hold both FUSD.L and FRXD.L in my portfolio?

FUSD.L and FRXD.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FUSD.L or FRXD.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FUSD.L or FRXD.L?

FUSD.L and FRXD.L have the same expense ratio: 0.25% per year.

What is the main difference between FUSD.L and FRXD.L?

FUSD.L is categorized as Dividend, while FRXD.L is Europe Equities. FUSD.L tracks Fidelity US Quality Income Index NR, while FRXD.L tracks LibertyQ European Dividend Index-NR. They also come from different issuers: Fidelity and Franklin.