Franklin Liberty Investment Grade Corporate ETF (FLCO) Performance
FLCO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.3% since Dec 31, 2025
- 1 year
- −1.7% total return
- 5 years
- −0.3% a year
- 10 years
- +1.9% a year
- Since first price
- +1.8% a year since 2016
FLCO trailing returns vs AGG, TLT, SPY
| Period | FLCO total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.8% | +0.3% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.4% | −1.7% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.7% | −4.1% | −1.5% | −3.8% | +7.8% |
| YTD | −1.3% | −4.7% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.7% | −6.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +19.2%+6.0%/yr | +3.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −1.5%−0.3%/yr | −20.1% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +20.6%+1.9%/yr | −17.1% | — | — | — |
| Since inceptionOct 5, 2016 | +19.7%+1.8%/yr | −17.7% | — | — | — |
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: FLCO vs AGG
From Oct 5, 2016: FLCO grew to $11,970, AGG to $11,432.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FLCO returns by calendar year
6 of 9 full years positive. Best 2019 (+14.8%), worst 2022 (−16.1%). 2026 is year to date.
FLCO annual returns table
| Year | FLCO | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.3% | −4.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +7.5% | −2.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.9% | −3.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.9% | −8.0% | +5.7% | +2.8% | +26.2% |
| 2022 | −16.1% | −20.4% | −13.0% | −31.2% | −18.2% |
| 2021 | −2.1% | −5.8% | −1.8% | −4.6% | +28.7% |
| 2020 | +9.1% | −18.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +14.8% | −2.4% | +8.5% | +14.1% | +31.2% |
| 2018 | −3.1% | −4.6% | +0.1% | −1.6% | −4.6% |
| 2017 | +6.0% | −2.0% | +3.6% | +9.2% | +21.7% |
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.
FLCO largest drawdowns
Now 4.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 29, 2020 | −23.1% | Oct 20, 2022 | not yet | 1.8 years | 5.8 years so far |
| Mar 6, 2020 | −18.6% | Mar 19, 2020 | Jun 16, 2020 | 13 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.
FLCO risk statistics
| Statistic | 3 years | 5 years | Since 2016 |
|---|---|---|---|
| Annualized return | +4.9% | −0.7% | +1.8% |
| Volatility (annualized) | 6.2% | 8.0% | 7.5% |
| Sharpe ratio | 0.10 | -0.51 | -0.03 |
| Sortino ratio | 0.14 | -0.65 | -0.04 |
| Best month | +5.8% | +5.8% | +6.5% |
| Worst month | −2.6% | −6.0% | −9.2% |
| Best 12 months | +14.0% | +14.0% | +16.5% |
| Worst 12 months | −2.4% | −19.9% | −19.9% |
| Positive months | 64% | 55% | 61% |
| Beta vs S&P 500 | 0.29 | 0.36 | — |
| Correlation with S&P 500 | 0.57 | 0.71 | — |
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.
FLCO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 109 | −19.9% | +3.4% | +16.5% | 72% |
| 3-year (a year) | 85 | −6.3% | +4.2% | +7.5% | 61% |
| 5-year (a year) | 61 | −1.1% | +0.3% | +4.9% | 66% |
| 10-year (a year) | 1 | +1.9% | +1.9% | +1.9% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
FLCO performance overview
Franklin Liberty Investment Grade Corporate ETF (FLCO) returned −1.7% over the past year and +1.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2016 it has returned +1.8% a year, turning $10,000 into about $11,970. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −23.1%, from Dec 29, 2020 to Oct 20, 2022; the fund has not yet regained that high. FLCO finished 6 of its 9 full calendar years with a gain; the best year was 2019 (+14.8%) and the worst 2022 (−16.1%). Volatility has been 7.5% a year.
Related: FLCO chart, FLCO dividends, FLCO bond profile. See the FLCO overview for the latest quote and fund facts.
FLCO performance FAQ
What is the FLCO return over the past year?
FLCO returned −1.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.3%.
What is the average annual return of FLCO?
FLCO has returned −0.3% a year over 5 years, +1.9% a year over 10 years, +1.8% a year since October 5, 2016 (total return, distributions reinvested).
How much would $10,000 invested in FLCO be worth?
$10,000 invested in FLCO at its first recorded close on October 5, 2016 would be worth about $11,970 on October 23, 2026 with distributions reinvested.
What was the worst year for FLCO?
The worst calendar year was 2022, with a total return of −16.1%. The best was 2019 at +14.8%.
What is the biggest drawdown of FLCO?
The largest peak-to-trough decline was −23.1% between December 29, 2020 and October 20, 2022. It has not yet recovered to that high; it is 4.5% below its peak.
How volatile is FLCO?
Over the past 3 years FLCO had an annualized volatility of 6.2% and a Sharpe ratio of 0.10 (excess return over 1–3 month T-bills per unit of risk).