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IEV vs. FLGB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEV vs. FLGB

Last updated Jun 23, 2026

IEV (iShares Europe ETF) and FLGB (Franklin FTSE United Kingdom ETF) are both Europe Equities funds - IEV tracks the S&P Europe 350 Index while FLGB tracks the FTSE UK RIC Capped Index. Both are passively managed. Over the past 5 years, IEV returned 9.34%/yr vs 10.94%/yr for FLGB. Their correlation of 0.88 suggests significant overlap in exposure. IEV charges 0.59%/yr vs 0.09%/yr for FLGB.

Performance

IEV vs. FLGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Europe ETF (IEV) and Franklin FTSE United Kingdom ETF (FLGB). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IEV achieves a 7.36% return, which is significantly higher than FLGB's 5.07% return.

IEV

1D
-0.04%
1M
1.28%
YTD
7.36%
6M
7.91%
1Y
21.69%
3Y*
16.78%
5Y*
9.34%
10Y*
10.28%

FLGB

1D
0.51%
1M
-1.36%
YTD
5.07%
6M
5.63%
1Y
20.75%
3Y*
17.57%
5Y*
10.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEV vs. FLGB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEV
iShares Europe ETF		7.36%35.63%1.36%20.14%-14.24%16.73%4.07%24.03%-14.68%1.06%
FLGB
Franklin FTSE United Kingdom ETF		5.07%33.73%8.77%14.33%-6.00%17.14%-9.47%23.23%-11.60%1.12%

Correlation

The correlation between IEV and FLGB is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.89

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.88

The correlation between IEV and FLGB has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

IEV vs. FLGB - Sectors Allocation Comparison

Sectors
IEV
FLGB

Financial Services

24.5%
27.1%

Industrials

18.8%
13.3%

Healthcare

12.1%
12.9%

Technology

9.9%
0.6%

Consumer Defensive

8.6%
13.9%

Consumer Cyclical

6.8%
4.8%

Basic Materials

5.5%
8.8%

Energy

4.6%
10.2%

Utilities

4.6%
4.7%

Communication Services

3.3%
2.5%

Real Estate

0.6%
0.8%

Financial Services

IEV
24.5%
FLGB
27.1%

Industrials

IEV
18.8%
FLGB
13.3%

Healthcare

IEV
12.1%
FLGB
12.9%

Technology

IEV
9.9%
FLGB
0.6%

Consumer Defensive

IEV
8.6%
FLGB
13.9%

Consumer Cyclical

IEV
6.8%
FLGB
4.8%

Basic Materials

IEV
5.5%
FLGB
8.8%

Energy

IEV
4.6%
FLGB
10.2%

Utilities

IEV
4.6%
FLGB
4.7%

Communication Services

IEV
3.3%
FLGB
2.5%

Real Estate

IEV
0.6%
FLGB
0.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Europe ETF

Franklin FTSE United Kingdom ETF

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Return for Risk

IEV vs. FLGB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEV
IEV Risk / Return Rank: 3939
Overall Rank
IEV Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
IEV Sortino Ratio Rank: 4040
Sortino Ratio Rank
IEV Omega Ratio Rank: 3838
Omega Ratio Rank
IEV Calmar Ratio Rank: 3636
Calmar Ratio Rank
IEV Martin Ratio Rank: 4141
Martin Ratio Rank
FLGB
FLGB Risk / Return Rank: 4242
Overall Rank
FLGB Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
FLGB Sortino Ratio Rank: 4242
Sortino Ratio Rank
FLGB Omega Ratio Rank: 4040
Omega Ratio Rank
FLGB Calmar Ratio Rank: 4242
Calmar Ratio Rank
FLGB Martin Ratio Rank: 4444
Martin Ratio Rank
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.

IEV vs. FLGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Europe ETF (IEV) and Franklin FTSE United Kingdom ETF (FLGB). 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.

IEVFLGBDifference
Sharpe ratioReturn per unit of total volatility
1.37
1.44

-0.07

Sortino ratioReturn per unit of downside risk
1.99
2.07

-0.08

Omega ratioGain probability vs. loss probability

1.24

1.26

-0.01

Calmar ratioReturn relative to maximum drawdown

1.77

2.03

-0.26

Martin ratioReturn relative to average drawdown

6.47

7.09

-0.62

IEV vs. FLGB - Sharpe Ratio Comparison

The current IEV Sharpe Ratio is 1.37, which is comparable to the FLGB Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of IEV and FLGB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IEV vs. FLGB - Drawdown Comparison

The maximum IEV drawdown since its inception was -63.27%, which is greater than FLGB's maximum drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for IEV and FLGB.

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Drawdown Indicators

IEVFLGBDifference

Max Drawdown

Largest peak-to-trough decline

-63.27%

-42.61%

-20.66%

Max Drawdown (1Y)

Largest decline over 1 year

-12.31%

-10.26%

-2.05%

Max Drawdown (3Y)

Largest decline over 3 years

-14.63%

-13.13%

-1.50%

Max Drawdown (5Y)

Largest decline over 5 years

-30.60%

-25.90%

-4.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.62%

—

—

Current Drawdown

Current decline from peak

-0.95%

-4.75%

+3.80%

Average Drawdown

Average peak-to-trough decline

-15.02%

-6.67%

-8.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

2.93%

+0.43%

Volatility

IEV vs. FLGB - Volatility Comparison

iShares Europe ETF (IEV) has a higher volatility of 4.90% compared to Franklin FTSE United Kingdom ETF (FLGB) at 4.17%. This indicates that IEV's price experiences larger fluctuations and is considered to be riskier than FLGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEVFLGBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

4.17%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

13.46%

12.36%

+1.10%

Volatility (1Y)

Calculated over the trailing 1-year period

15.96%

14.51%

+1.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.63%

16.63%

+1.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.61%

18.96%

-0.35%

IEV vs. FLGB - Expense Ratio Comparison

IEV has a 0.59% expense ratio, which is higher than FLGB's 0.09% expense ratio.

Dividends

IEV vs. FLGB - Dividend Comparison

IEV's dividend yield for the trailing twelve months is around 2.81%, more than FLGB's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
FLGB
Franklin FTSE United Kingdom ETF		1.67%3.50%4.42%3.95%4.23%2.93%2.67%4.30%3.92%0.43%0.00%0.00%
IEV
iShares Europe ETF		2.81%2.73%3.10%2.77%3.06%2.81%1.76%3.06%3.43%2.39%3.08%2.81%

Frequently Asked Questions

IEV and FLGB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEV has higher volatility (4.90%) compared to FLGB (4.17%). In terms of maximum drawdown, IEV dropped -63.27% vs FLGB's -42.61%.

On 5-year performance, FLGB leads with 10.94% vs 9.34% for IEV. On fees, FLGB is cheaper at 0.09% per year. On volatility, FLGB has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLGB has performed better with a 10.94% return vs 9.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLGB is cheaper with a 0.09% expense ratio, compared with 0.59% for IEV.

IEV has the higher dividend yield at 2.81%, compared with 1.67% for FLGB.

IEV tracks S&P Europe 350 Index, while FLGB tracks FTSE UK RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.59% for IEV and 0.09% for FLGB.

FLGB currently has the higher Sharpe Ratio (1.44 vs 1.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for IEV and FLGB

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