Franklin Liberty High Yield Corporate ETF (FLHY) Performance
FLHY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.7% since Dec 31, 2025
- 1 year
- +2.4% total return
- 5 years
- +4.2% a year
- Since first price
- +5.5% a year since 2018
FLHY trailing returns vs AGG, TLT, SPY
| Period | FLHY total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −1.2% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.1% | −2.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −0.7% | −3.9% | −1.5% | −3.8% | +7.8% |
| YTD | +0.7% | −4.1% | −1.0% | −3.4% | +12.3% |
| 1 year | +2.4% | −4.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +29.6%+9.0%/yr | +6.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +23.0%+4.2%/yr | −10.9% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionJun 1, 2018 | +56.2%+5.5%/yr | −6.9% | — | — | — |
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: FLHY vs AGG
From Jun 1, 2018: FLHY grew to $15,618, AGG to $11,543.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FLHY returns by calendar year
6 of 7 full years positive. Best 2019 (+16.2%), worst 2022 (−10.4%). 2026 is year to date.
FLHY annual returns table
| Year | FLHY | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.7% | −3.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +9.3% | −4.5% | +7.2% | +4.3% | +17.7% |
| 2024 | +8.7% | −1.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +13.4% | −4.0% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.4% | −14.9% | −13.0% | −31.2% | −18.2% |
| 2021 | +4.0% | −2.5% | −1.8% | −4.6% | +28.7% |
| 2020 | +7.8% | −22.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +16.2% | −1.6% | +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.
FLHY largest drawdowns
Now 2.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −22.6% | Mar 23, 2020 | Jul 29, 2020 | 40 days | 6 months |
| Dec 27, 2021 | −15.2% | Sep 27, 2022 | Dec 13, 2023 | 9 months | 2.0 years |
| Oct 3, 2018 | −5.4% | Dec 24, 2018 | Jan 18, 2019 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
FLHY risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +8.2% | +4.0% | +5.5% |
| Volatility (annualized) | 4.6% | 7.3% | 8.2% |
| Sharpe ratio | 0.79 | 0.08 | 0.37 |
| Sortino ratio | 1.35 | 0.11 | 0.52 |
| Best month | +4.5% | +5.7% | +6.0% |
| Worst month | −2.9% | −7.2% | −11.6% |
| Best 12 months | +16.4% | +16.4% | +23.5% |
| Worst 12 months | +1.8% | −14.3% | −14.3% |
| Positive months | 78% | 65% | 68% |
| Beta vs S&P 500 | 0.27 | 0.38 | — |
| Correlation with S&P 500 | 0.74 | 0.82 | — |
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.
FLHY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 89 | −14.3% | +8.1% | +23.5% | 83% |
| 3-year (a year) | 65 | −0.7% | +4.6% | +11.7% | 98% |
| 5-year (a year) | 41 | +3.6% | +4.7% | +7.4% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
FLHY performance overview
Franklin Liberty High Yield Corporate ETF (FLHY) returned +2.4% over the past year and +4.2% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +5.5% a year, turning $10,000 into about $15,618. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −22.6%, from Feb 12, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. FLHY finished 6 of its 7 full calendar years with a gain; the best year was 2019 (+16.2%) and the worst 2022 (−10.4%). Volatility has been 8.2% a year.
Related: FLHY chart, FLHY dividends, FLHY bond profile. See the FLHY overview for the latest quote and fund facts.
FLHY performance FAQ
What is the FLHY return over the past year?
FLHY returned +2.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.1%.
What is the average annual return of FLHY?
FLHY has returned +4.2% a year over 5 years, +5.5% a year since June 1, 2018 (total return, distributions reinvested).
How much would $10,000 invested in FLHY be worth?
$10,000 invested in FLHY at its first recorded close on June 1, 2018 would be worth about $15,618 on October 23, 2026 with distributions reinvested.
What was the worst year for FLHY?
The worst calendar year was 2022, with a total return of −10.4%. The best was 2019 at +16.2%.
What is the biggest drawdown of FLHY?
The largest peak-to-trough decline was −22.6% between February 12, 2020 and March 23, 2020. It recovered to the old high on July 29, 2020, 4 months after the bottom.
How volatile is FLHY?
Over the past 3 years FLHY had an annualized volatility of 4.6% and a Sharpe ratio of 0.79 (excess return over 1–3 month T-bills per unit of risk).