Franklin Liberty Senior Loan ETF (FLBL) Performance
FLBL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.3% since Dec 31, 2025
- 1 year
- +2.8% total return
- 5 years
- +5.2% a year
- Since first price
- +4.5% a year since 2018
FLBL trailing returns vs AGG, TLT, SPY
| Period | FLBL total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.7% | −1.3% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.3% | −1.5% | −0.4% | −1.0% | +3.2% |
| 6 months | +1.7% | −2.0% | −1.5% | −3.8% | +7.8% |
| YTD | +2.3% | −3.1% | −1.0% | −3.4% | +12.3% |
| 1 year | +2.8% | −4.6% | −1.1% | −6.9% | +14.4% |
| 3 years | +18.4%+5.8%/yr | −5.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +28.8%+5.2%/yr | −9.5% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionJun 1, 2018 | +44.7%+4.5%/yr | −10.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FLBL vs AGG
From Jun 1, 2018: FLBL grew to $14,472, AGG to $11,543.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FLBL returns by calendar year
6 of 7 full years positive. Best 2023 (+14.8%), worst 2022 (−2.7%). 2026 is year to date.
FLBL annual returns table
| Year | FLBL | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +2.3% | −3.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +3.6% | −3.9% | +7.2% | +4.3% | +17.7% |
| 2024 | +8.3% | −0.9% | +1.3% | −8.1% | +24.9% |
| 2023 | +14.8% | −2.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −2.7% | −6.8% | −13.0% | −31.2% | −18.2% |
| 2021 | +4.3% | −2.1% | −1.8% | −4.6% | +28.7% |
| 2020 | +2.2% | −19.5% | +7.5% | +18.2% | +18.3% |
| 2019 | +7.7% | −0.7% | +8.5% | +14.1% | +31.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FLBL largest drawdowns
Now 1.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 22, 2020 | −19.5% | Mar 23, 2020 | Nov 10, 2020 | 2 months | 10 months |
| Jan 14, 2022 | −6.8% | Jul 6, 2022 | Jan 20, 2023 | 6 months | 1.0 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
FLBL risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +6.2% | +5.4% | +4.7% |
| Volatility (annualized) | 2.7% | 4.3% | 5.2% |
| Sharpe ratio | 0.66 | 0.43 | 0.41 |
| Sortino ratio | 1.04 | 0.66 | 0.54 |
| Best month | +1.9% | +3.9% | +3.9% |
| Worst month | −2.1% | −3.4% | −8.6% |
| Best 12 months | +10.3% | +14.8% | +14.8% |
| Worst 12 months | +0.5% | −4.4% | −5.5% |
| Positive months | 75% | 65% | 66% |
| Beta vs S&P 500 | 0.09 | 0.16 | — |
| Correlation with S&P 500 | 0.42 | 0.57 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FLBL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 89 | −5.5% | +3.9% | +14.8% | 84% |
| 3-year (a year) | 65 | +0.8% | +5.5% | +9.7% | 100% |
| 5-year (a year) | 41 | +3.5% | +5.2% | +7.3% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
FLBL performance overview
Franklin Liberty Senior Loan ETF (FLBL) returned +2.8% over the past year and +5.2% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +4.5% a year, turning $10,000 into about $14,472. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −19.5%, from Jan 22, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. FLBL finished 6 of its 7 full calendar years with a gain; the best year was 2023 (+14.8%) and the worst 2022 (−2.7%). Volatility has been 5.2% a year.
Related: FLBL chart, FLBL dividends, FLBL bond profile. See the FLBL overview for the latest quote and fund facts.
FLBL performance FAQ
What is the FLBL return over the past year?
FLBL returned +2.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.6%.
What is the average annual return of FLBL?
FLBL has returned +5.2% a year over 5 years, +4.5% a year since June 1, 2018 (total return, distributions reinvested).
How much would $10,000 invested in FLBL be worth?
$10,000 invested in FLBL at its first recorded close on June 1, 2018 would be worth about $14,472 on October 23, 2026 with distributions reinvested.
What was the worst year for FLBL?
The worst calendar year was 2022, with a total return of −2.7%. The best was 2023 at +14.8%.
What is the biggest drawdown of FLBL?
The largest peak-to-trough decline was −19.5% between January 22, 2020 and March 23, 2020. It recovered to the old high on November 10, 2020, 8 months after the bottom.
How volatile is FLBL?
Over the past 3 years FLBL had an annualized volatility of 2.7% and a Sharpe ratio of 0.66 (excess return over 1–3 month T-bills per unit of risk).