ETF Evaluator:
Franklin FTSE Europe ETF ()
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(as of Aug 26)
Best Performing in Europe Stock Over the Last Year
| 38.6% | First Trust STOXX® European Sel Div ETF (FDD) |
| 35.8% | iShares MSCI Europe Financials ETF (EUFN) |
| 29.8% | WisdomTree European Opportunities ETF (OPPE) |
| 27.4% | First Trust Europe AlphaDEX® ETF (FEP) |
| 26.6% | First Trust Eurozone AlphaDEX® ETF (FEUZ) |
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Risk
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ETF Details
Franklin FTSE Europe ETF Overview
Franklin FTSE Europe ETF (FLEE) is a passively managed International Equity Europe Stock exchange-traded fund (ETF). Franklin Templeton Investments launched the ETF in 2017.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE Developed Europe RIC Capped Index (the FTSE Developed Europe Capped Index).
Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the FTSE Developed Europe Capped Index and in depositary receipts representing such securities. The FTSE Developed Europe Capped Index is based on the FTSE Developed Europe Index and is designed to measure the performance of large- and mid-capitalization stocks from developed European countries. The fund is non-diversified.
About Franklin FTSE Europe ETF (FLEE)
There are 4 members of the management team with an average tenure of 5.86 years: Hailey Harris (2019), Dina Ting (2017), Basit Amin (2022) and Joe Diederich (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: FTSE Developed Europe NR USD index with a weighting of 100% and FTSE Dvlp Europe RIC Capped NR USD index with a weighting of 100%. Franklin FTSE Europe ETF has 508 securities in its portfolio. The top 10 holdings constitute 20.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Franklin FTSE Europe ETF is part of the Equity global asset class and is within the International Equity ETF group. Franklin FTSE Europe ETF has 97.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.5% There is 97.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Franklin FTSE Europe ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $118 million in total assets, which is below the $2 billion average for the Europe Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FLEE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin FTSE Europe ETF expense ratio is low compared to funds in the Europe Stock category. Franklin FTSE Europe ETF has an expense ratio of 0.09%, which is 79% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin FTSE Europe ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 30% for the Europe Stock category.
Recently, in the month of July 2026, Franklin FTSE Europe ETF returned 1.9%, which earned it a grade of C, as the Europe Stock category had an average return of 2.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Franklin FTSE Europe ETF has a trailing yield of 3.10%, which is above the 2.65% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin FTSE Europe ETF Grades
Year to date, the ETF has returned 9.8%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 23.0% over the past year (grade of C), 16.2% over the past three years (grade of C) and 9.7% per year over the past five years (grade of C).
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FLEE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FLEE Return (NAV) | 1.9% | 5.3% | 23.0% | 16.2% | 9.7% | na |
| FLEE Return (Price) | 0.6% | 3.5% | 21.7% | 15.8% | 9.5% | na |
| NAV +/- Price Return | 1.266% | 1.802% | 1.322% | 0.313% | 0.217% | na |
| Europe Stock Avg | 2.1% | 5.4% | 22.3% | 16.8% | 9.7% | 9.9% |
| FLEE Grade (NAV) | C | C | C | C | C | na |
| +/- Category (NAV) | -0.2% | -0.1% | 0.8% | -0.7% | 0.1% | na |
| FLEE Tax-Cost Ratio | na | na | 1.3% | 1.3% | 1.2% | na |
FLEE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FLEE Return (NAV) | 9.8% | 35.9% | 2.3% | 20.9% | -15.5% | 16.2% | 6.2% | 24.1% | -14.8% | na | na |
| FLEE Return (Price) | 9.4% | 35.8% | 2.1% | 20.5% | -15.2% | 16.9% | 5.4% | 24.4% | -15.0% | na | na |
| NAV +/- Price Ret | -0.041% | -0.003% | -0.124% | -0.022% | -0.020% | 0.040% | -0.137% | 1.2% | 1.4% | na | na |
| Europe Stock Avg | 10.2% | 35.7% | 4.1% | 19.6% | -16.1% | 17.6% | 4.1% | 25.2% | -14.5% | 24.9% | 1.1% |
| FLEE Grade (NAV) | C | C | C | B | C | D | B | D | C | na | na |
| +/- Category | -0.4% | 0.1% | -1.8% | 1.4% | 0.6% | -1.4% | 2.2% | -1.1% | -0.3% | na | na |
| Risk Measures | |
| Beta: | 0.94 |
| R-Squared: | 89% |
| Standard Deviation: | 13.8% |
| Category Risk Index: | 0.98 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.12 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 3.1% |
| Total Assets: | $ 118 Mil |
| Share Class Assets: | $ 118 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.09% |
| Index Fund: | Yes |
| Index Tracked: | FTSE Developed Europe NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Ting Dina (2017), Harris Hailey (2019), Amin Basit (2022), Diederich Joe (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 508 |
| % in Top 10 Holdings: | 20.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 97.9% |
Portfolio Allocation |
|
| Domestic Stock: | 1.5% |
| Foreign Stock: | 97.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.3% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | etf.franklintempleton.com |
| Inception Date: | November 2, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.09% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.43% |
