PTEU vs. FLEH
PTEU (Pacer Trendpilot European Index ETF) and FLEH (Franklin FTSE Europe Hedged ETF) are both Europe Equities funds - PTEU tracks the Pacer Trendpilot European Index while FLEH tracks the FTSE Developed Europe RIC Capped Index. Both are passively managed. Over the past 5 years, PTEU returned 7.49%/yr vs 11.75%/yr for FLEH. A 0.69 correlation means they provide meaningful diversification when combined. PTEU charges 0.65%/yr vs 0.09%/yr for FLEH.
Performance
PTEU vs. FLEH - Performance Comparison
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Returns By Period
In the year-to-date period, PTEU achieves a 6.67% return, which is significantly lower than FLEH's 7.40% return.
PTEU
- 1D
- -1.95%
- 1M
- 1.07%
- YTD
- 6.67%
- 6M
- 6.75%
- 1Y
- 19.59%
- 3Y*
- 10.88%
- 5Y*
- 7.49%
- 10Y*
- 5.37%
FLEH
- 1D
- -1.70%
- 1M
- 1.76%
- YTD
- 7.40%
- 6M
- 7.90%
- 1Y
- 20.48%
- 3Y*
- 17.50%
- 5Y*
- 11.75%
- 10Y*
- —
PTEU vs. FLEH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTEU Pacer Trendpilot European Index ETF | 6.67% | 30.80% | -0.50% | 12.45% | -7.46% | 13.43% | -19.41% | 13.50% | -16.87% | -0.19% |
FLEH Franklin FTSE Europe Hedged ETF | 7.40% | 41.56% | 2.26% | 16.21% | -9.14% | 23.27% | 0.95% | 26.94% | -8.54% | -1.24% |
Correlation
The correlation between PTEU and FLEH is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | 0.69 |
Over the past year, PTEU and FLEH have become more correlated (0.93) than their long-term average of 0.69, meaning their price movements have been converging.
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Return for Risk
PTEU vs. FLEH — Risk / Return Rank
PTEU
FLEH
PTEU vs. FLEH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot European Index ETF (PTEU) and Franklin FTSE Europe Hedged ETF (FLEH). 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.
| PTEU | FLEH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.53 | 0.00 |
| Martin ratioReturn relative to average drawdown | 5.31 | 5.57 | -0.26 |
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Drawdowns
PTEU vs. FLEH - Drawdown Comparison
The maximum PTEU drawdown since its inception was -35.45%, roughly equal to the maximum FLEH drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for PTEU and FLEH.
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Drawdown Indicators
| PTEU | FLEH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.45% | -33.94% | -1.51% |
Max Drawdown (1Y)Largest decline over 1 year | -12.82% | -13.41% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -15.67% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -15.04% | -18.67% | +3.63% |
Max Drawdown (10Y)Largest decline over 10 years | -35.45% | — | — |
Current DrawdownCurrent decline from peak | -2.23% | -2.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -4.68% | -9.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.70% | 3.69% | +0.01% |
Volatility
PTEU vs. FLEH - Volatility Comparison
The current volatility for Pacer Trendpilot European Index ETF (PTEU) is 5.01%, while Franklin FTSE Europe Hedged ETF (FLEH) has a volatility of 5.38%. This indicates that PTEU experiences smaller price fluctuations and is considered to be less risky than FLEH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTEU | FLEH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 5.38% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 14.55% | 15.05% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 17.53% | -0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.30% | 16.47% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.54% | 18.27% | -3.73% |
PTEU vs. FLEH - Expense Ratio Comparison
PTEU has a 0.65% expense ratio, which is higher than FLEH's 0.09% expense ratio.
Dividends
PTEU vs. FLEH - Dividend Comparison
PTEU's dividend yield for the trailing twelve months is around 1.80%, more than FLEH's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLEH Franklin FTSE Europe Hedged ETF | 1.08% | 2.22% | 3.18% | 3.25% | 21.45% | 3.03% | 1.94% | 6.06% | 12.17% | 0.07% |
PTEU Pacer Trendpilot European Index ETF | 1.80% | 1.92% | 3.49% | 2.74% | 0.69% | 1.55% | 0.00% | 3.43% | 1.86% | 0.60% |
Frequently Asked Questions
With a correlation of 0.93, PTEU and FLEH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FLEH has higher volatility (5.38%) compared to PTEU (5.01%). In terms of maximum drawdown, PTEU dropped -35.45% vs FLEH's -33.94%.
On 5-year performance, FLEH leads with 11.75% vs 7.49% for PTEU. On fees, FLEH is cheaper at 0.09% per year. On volatility, PTEU has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLEH has performed better with a 11.75% return vs 7.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLEH is cheaper with a 0.09% expense ratio, compared with 0.65% for PTEU.
PTEU has the higher dividend yield at 1.80%, compared with 1.08% for FLEH.
PTEU tracks Pacer Trendpilot European Index, while FLEH tracks FTSE Developed Europe RIC Capped Index. They also come from different issuers: Pacer and Franklin Templeton. Their fees differ too: 0.65% for PTEU and 0.09% for FLEH.
FLEH currently has the higher Sharpe Ratio (1.18 vs 1.15), 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.
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