FXGB.L vs. FLRG.L
FXGB.L (First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc)) and FLRG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) are both exchange-traded funds - FXGB.L is a Currency fund tracking the Bloomberg G10 Carry Index, while FLRG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate EUR Green Bond Index. Both are passively managed. Over the past 5 years, FXGB.L returned 5.13%/yr vs -2.20%/yr for FLRG.L. At a correlation of -0.13, they often move in opposite directions. FXGB.L charges 0.75%/yr vs 0.25%/yr for FLRG.L.
Performance
FXGB.L vs. FLRG.L - Performance Comparison
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Different Trading Currencies
FXGB.L is traded in GBp, while FLRG.L is traded in EUR. To make them comparable, the FLRG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FXGB.L achieves a 6.71% return, which is significantly higher than FLRG.L's -1.53% return.
FXGB.L
- 1D
- 0.47%
- 1M
- 1.70%
- 6M
- 5.78%
- YTD
- 6.71%
- 1Y
- 11.40%
- 3Y*
- 6.44%
- 5Y*
- 5.13%
- 10Y*
- —
FLRG.L
- 1D
- 0.00%
- 1M
- -2.05%
- 6M
- -1.46%
- YTD
- -1.53%
- 1Y
- -0.10%
- 3Y*
- 3.10%
- 5Y*
- -2.20%
- 10Y*
- —
FXGB.L vs. FLRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FXGB.L First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) | 6.71% | 7.73% | 5.81% | 10.67% | -1.83% | -2.87% | -1.20% | 1.08% |
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) | -1.53% | 5.97% | -1.90% | 5.56% | -14.81% | -8.76% | 11.42% | 2.11% |
Correlation
The correlation between FXGB.L and FLRG.L is 0.03, 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 (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since May 2, 2019 | -0.13 |
The correlation between FXGB.L and FLRG.L shifts across timeframes, from -0.13 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXGB.L vs. FLRG.L — Risk / Return Rank
FXGB.L
FLRG.L
FXGB.L vs. FLRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) (FXGB.L) and Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.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.
| FXGB.L | FLRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.99 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | -0.10 | +2.72 |
| Martin ratioReturn relative to average drawdown | 7.33 | -0.21 | +7.53 |
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Drawdowns
FXGB.L vs. FLRG.L - Drawdown Comparison
The maximum FXGB.L drawdown since its inception was -9.43%, smaller than the maximum FLRG.L drawdown of -26.99%. Use the drawdown chart below to compare losses from any high point for FXGB.L and FLRG.L.
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Drawdown Indicators
| FXGB.L | FLRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.43% | -26.99% | +17.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -3.78% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -4.90% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -7.66% | -21.56% | +13.90% |
Current DrawdownCurrent decline from peak | 0.00% | -18.18% | +18.18% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -15.29% | +12.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.77% | -0.22% |
Volatility
FXGB.L vs. FLRG.L - Volatility Comparison
First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) (FXGB.L) has a higher volatility of 2.67% compared to Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) at 1.31%. This indicates that FXGB.L's price experiences larger fluctuations and is considered to be riskier than FLRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXGB.L | FLRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 1.31% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 8.42% | 3.79% | +4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.10% | 5.03% | +6.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 6.77% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.75% | 7.20% | -0.45% |
FXGB.L vs. FLRG.L - Expense Ratio Comparison
FXGB.L has a 0.75% expense ratio, which is higher than FLRG.L's 0.25% expense ratio.
Dividends
FXGB.L vs. FLRG.L - Dividend Comparison
Neither FXGB.L nor FLRG.L has paid dividends to shareholders.
Frequently Asked Questions
FXGB.L and FLRG.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLRG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLRG.L is cheaper with a 0.25% expense ratio, compared with 0.75% for FXGB.L.
FXGB.L is categorized as Currency, while FLRG.L is Global Bonds. FXGB.L tracks Bloomberg G10 Carry Index, while FLRG.L tracks Bloomberg Global Aggregate EUR Green Bond Index. They also come from different issuers: First Trust and Franklin. Their fees differ too: 0.75% for FXGB.L and 0.25% for FLRG.L.
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