Franklin Liberty U.S. Core Bond ETF (FLCB) Performance
FLCB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.1% since Dec 31, 2025
- 1 year
- −1.2% total return
- 5 years
- −0.3% a year
- Since first price
- +0.6% a year since 2019
FLCB trailing returns vs AGG, TLT, SPY
| Period | FLCB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.7% | +0.3% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.7% | −1.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.7% | −3.9% | −1.5% | −3.8% | +7.8% |
| YTD | −1.1% | −4.3% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.2% | −5.4% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.6%+5.3%/yr | +2.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −1.4%−0.3%/yr | −17.8% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 19, 2019 | +4.3%+0.6%/yr | −17.5% | — | — | — |
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: FLCB vs AGG
From Sep 19, 2019: FLCB grew to $10,434, AGG to $10,509.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FLCB returns by calendar year
4 of 6 full years positive. Best 2020 (+7.3%), worst 2022 (−13.5%). 2026 is year to date.
FLCB annual returns table
| Year | FLCB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.1% | −4.7% | −1.0% | −3.4% | +12.3% |
| 2025 | +6.9% | −2.5% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.6% | −4.0% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.7% | −7.3% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.5% | −16.7% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.7% | −3.4% | −1.8% | −4.6% | +28.7% |
| 2020 | +7.3% | −7.1% | +7.5% | +18.2% | +18.3% |
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.
FLCB largest drawdowns
Now 4.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 4, 2020 | −19.1% | Oct 24, 2022 | not yet | 2.2 years | 6.2 years so far |
| Mar 9, 2020 | −7.1% | Mar 18, 2020 | May 29, 2020 | 9 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
FLCB risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +4.1% | −0.7% | +0.3% |
| Volatility (annualized) | 5.6% | 6.4% | 5.7% |
| Sharpe ratio | -0.03 | -0.66 | -0.39 |
| Sortino ratio | -0.05 | -0.82 | -0.51 |
| Best month | +4.6% | +4.6% | +4.6% |
| Worst month | −2.6% | −4.1% | −4.1% |
| Best 12 months | +11.8% | +11.8% | +11.8% |
| Worst 12 months | −1.9% | −16.4% | −16.4% |
| Positive months | 67% | 52% | 55% |
| Beta vs S&P 500 | 0.23 | 0.25 | — |
| Correlation with S&P 500 | 0.51 | 0.61 | — |
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.
FLCB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 74 | −16.4% | +1.5% | +11.8% | 59% |
| 3-year (a year) | 50 | −5.8% | −2.3% | +5.8% | 40% |
| 5-year (a year) | 26 | −1.1% | −0.4% | +0.3% | 19% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
FLCB performance overview
Franklin Liberty U.S. Core Bond ETF (FLCB) returned −1.2% over the past year and −0.3% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +0.6% a year, turning $10,000 into about $10,434. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −19.1%, from Aug 4, 2020 to Oct 24, 2022; the fund has not yet regained that high. FLCB finished 4 of its 6 full calendar years with a gain; the best year was 2020 (+7.3%) and the worst 2022 (−13.5%). Volatility has been 5.7% a year.
Related: FLCB chart, FLCB dividends, FLCB bond profile. See the FLCB overview for the latest quote and fund facts.
FLCB performance FAQ
What is the FLCB return over the past year?
FLCB returned −1.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.4%.
What is the average annual return of FLCB?
FLCB has returned −0.3% a year over 5 years, +0.6% a year since September 19, 2019 (total return, distributions reinvested).
How much would $10,000 invested in FLCB be worth?
$10,000 invested in FLCB at its first recorded close on September 19, 2019 would be worth about $10,434 on October 23, 2026 with distributions reinvested.
What was the worst year for FLCB?
The worst calendar year was 2022, with a total return of −13.5%. The best was 2020 at +7.3%.
What is the biggest drawdown of FLCB?
The largest peak-to-trough decline was −19.1% between August 4, 2020 and October 24, 2022. It has not yet recovered to that high; it is 4.0% below its peak.
How volatile is FLCB?
Over the past 3 years FLCB had an annualized volatility of 5.6% and a Sharpe ratio of -0.03 (excess return over 1–3 month T-bills per unit of risk).