XLG vs. FLLA

Last updated Jul 26, 2026

XLG (Invesco S&P 500 Top 50 ETF) and FLLA (Franklin FTSE Latin America ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while FLLA is a Latin America Equities fund tracking the FTSE Latin America RIC Capped Index. Both are passively managed. Over the past 5 years, XLG returned 13.16%/yr vs 9.29%/yr for FLLA. Their 0.43 correlation means their historical movements had little consistent relationship. XLG charges 0.20%/yr vs 0.19%/yr for FLLA.

Performance

XLG vs. FLLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and Franklin FTSE Latin America ETF (FLLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLG achieves a 1.55% return, which is significantly lower than FLLA's 14.21% return.

XLG

• 1D: -0.22%
• 1M: 0.71%
• 6M: 2.67%
• YTD: 1.55%
• 1Y: 12.21%
• 3Y*: 19.71%
• 5Y*: 13.16%
• 10Y*: 16.25%
• ALL TIME*: 11.26%

FLLA

• 1D: -0.61%
• 1M: 2.56%
• 6M: -0.13%
• YTD: 14.21%
• 1Y: 37.04%
• 3Y*: 10.65%
• 5Y*: 9.29%
• 10Y*: —
• ALL TIME*: 6.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLLA Franklin FTSE Latin America ETF	$721.85K	$757.25K	$1.17M
XLG Invesco S&P 500 Top 50 ETF	$60.47M	$91.92M	$104.94M

XLG vs. FLLA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XLG Invesco S&P 500 Top 50 ETF	1.55%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-9.57%
FLLA Franklin FTSE Latin America ETF	14.21%	51.81%	-26.89%	32.71%	7.78%	-8.93%	-15.08%	19.59%	-2.78%

Correlation

The correlation between XLG and FLLA is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.40
Correlation (All Time) Calculated using the full available price history since Oct 11, 2018	0.43

XLG vs. FLLA - Sectors Allocation Comparison

Sectors	XLG	FLLA
Technology	49.5%	0.4%
Communication Services	13.5%	3.8%
Consumer Cyclical	10.0%	2.8%
Financial Services	9.7%	27.0%
Healthcare	6.6%	0.8%
Consumer Defensive	5.0%	11.2%
Industrials	2.9%	9.6%
Energy	2.2%	11.2%
Utilities	0.8%	9.9%
Basic Materials	0.6%	18.1%
Real Estate	-	3.0%

Return for Risk

XLG vs. FLLA — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 34
XLG Sharpe Ratio Rank: 36
XLG Sortino Ratio Rank: 34
XLG Omega Ratio Rank: 34
XLG Calmar Ratio Rank: 31
XLG Martin Ratio Rank: 34

FLLA

FLLA Risk / Return Rank: 69
FLLA Sharpe Ratio Rank: 74
FLLA Sortino Ratio Rank: 70
FLLA Omega Ratio Rank: 71
FLLA Calmar Ratio Rank: 74
FLLA Martin Ratio Rank: 55

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.

XLG vs. FLLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Franklin FTSE Latin America ETF (FLLA). 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.

	XLG	FLLA	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.70	-0.82
Sortino ratio: Return per unit of downside risk	1.28	2.29	-1.01
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	1.02	2.67	-1.64
Martin ratio: Return relative to average drawdown	3.29	6.62	-3.33

XLG vs. FLLA - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 0.88, which is lower than the FLLA Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of XLG and FLLA, 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

XLG vs. FLLA - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, roughly equal to the maximum FLLA drawdown of -53.88%. Use the drawdown chart below to compare losses from any high point for XLG and FLLA.

Drawdown Indicators

	XLG	FLLA	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-53.88%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-13.75%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-27.76%	+7.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-28.32%	+0.30%
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	—	—
Current Drawdown Current decline from peak	-6.96%	-9.71%	+2.75%
Average Drawdown Average peak-to-trough decline	-7.62%	-13.43%	+5.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	5.53%	-1.69%

Volatility

XLG vs. FLLA - Volatility Comparison

Invesco S&P 500 Top 50 ETF (XLG) and Franklin FTSE Latin America ETF (FLLA) have volatilities of 4.47% and 4.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLG	FLLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.59%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	17.69%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	21.61%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	22.74%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	27.39%	-8.50%

XLG vs. FLLA - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is higher than FLLA's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLG vs. FLLA - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.66%, less than FLLA's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLLA Franklin FTSE Latin America ETF	4.80%	6.06%	7.04%	5.45%	9.55%	7.60%	2.12%	3.18%	0.48%	0.00%	0.00%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.66%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both XLG and FLLA in my portfolio?

XLG and FLLA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLG or FLLA?

FLLA has higher volatility (4.59%) compared to XLG (4.47%). In terms of maximum drawdown, XLG dropped -52.39% vs FLLA's -53.88%.

Which ETF is better, XLG or FLLA?

On 5-year performance, XLG leads with 13.16% vs 9.29% for FLLA. On fees, FLLA is cheaper at 0.19% per year. On volatility, XLG has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or FLLA?

Over the 5-year period, XLG has performed better with a 13.16% return vs 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or FLLA?

FLLA is cheaper with a 0.19% expense ratio, compared with 0.20% for XLG.

Which ETF pays a higher dividend yield, XLG or FLLA?

FLLA has the higher dividend yield at 4.80%, compared with 0.66% for XLG.

What is the main difference between XLG and FLLA?

XLG is categorized as S&P 500, while FLLA is Latin America Equities. XLG tracks S&P 500 Top 50 Index, while FLLA tracks FTSE Latin America RIC Capped Index. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.20% for XLG and 0.19% for FLLA.

Which has better risk-adjusted returns?

FLLA currently has the higher Sharpe Ratio (1.70 vs 0.88), 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.