At a glance
FLGR charges 0.09% a year, below the 0.43% average of the 3 funds most like it (the cheapest of 4). It has $37.1M in assets, the 4th largest of that group; it paid 3.43% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +1.5% with distributions reinvested (S&P 500: +11.5%), 3rd of those 4 funds; over three years it returned +21.7% a year. At its worst it fell 38.9% in the 2020 crash (S&P 500: 33.7%) and 40.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 17 months after the lows. Its ten largest positions make up 61.7% of the fund, out of 64 in all.
The short version
Franklin FTSE Germany ETF (FLGR) is an index fund that tracks the FTSE Germany RIC Capped Index, a basket of about 65 large and midsize German companies led by Siemens, Allianz and SAP. Its main draw is cost: a 0.09% expense ratio, against 0.50% for the iShares MSCI Germany ETF, which shares 91% of its holdings. The trade-off is size. FLGR had about $37 million in net assets as of June 30, 2026.
Price history
The interactive chart needs JavaScript.
FLGR +1.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FLGR official prospectus, to Dec 31, 2025 | — | +36.70% | — | +9.02% | — | +6.18% |
| FTSE Germany Index-NR index, same period | — | +36.38% | — | +8.72% | — | +5.96% |
| FTSE Germany Capped Index-NR index, same period | — | +36.38% | — | +8.72% | — | +5.96% |
| FLGR price data to Oct 27, 2026 | -0.5% | +1.5% | +21.7% | +7.2% | — | +5.5% |
- Over the year to Oct 27, 2026, FLGR returned +1.5%, 3rd of 4 among similar funds.
- Its 5-year annualized return was +7.2%.
- In the 2020 COVID crash it fell 38.9% and regained its old high 4.1 months after the low.
- Its worst full calendar year was 2022 (-22.0%); its best was 2025 (+36.7%).
- The deepest fall in its price history was 46.3% (Jan 23, 2018 to Mar 18, 2020), recovered by Jan 6, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.5% | — |
| 2025 | +36.7% | +36.70% |
| 2024 | +10.7% | +10.68% |
| 2023 | +24.2% | +24.12% |
| 2022 | -22.0% | -22.10% |
| 2021 | +5.4% | +5.29% |
| 2020 | +12.2% | +12.24% |
| 2019 | +19.9% | +21.67% |
| 2018 | -21.5% | -22.07% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.6% over that stretch · deepest drop along the way 38.9%, back to its old high 4.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 38.7% over that stretch · deepest drop along the way 40%, back to its old high 17.3 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0000 | |
| 2025 | $0.5800 | -3.3% |
| 2024 | $0.6000 | -13.0% |
| 2023 | $0.6900 | +3.0% |
| 2022 | $0.6700 | -1.5% |
| 2021 | $0.6800 | +4.6% |
| 2020 | $0.6500 | +14.0% |
| 2019 | $0.5700 | -5.0% |
| 2018 | $0.6000 |
What's inside
As of Jun 30, 2026, the fund held 64 securities; the ten largest made up 61.7% of assets. It also reported 3.19% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| SIEMENS AG | 12.07% | |
| ALLIANZ SE | 9.27% | |
| SAP SE | 8.11% | |
| SIEMENS ENERGY AG | 7.40% | |
| INFINEON TECHNOLOGIES AG | 6.31% | |
| DEUTSCHE TELEKOM AG | 4.86% | |
| MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG | 4.71% | |
| RHEINMETALL AG | 3.09% | |
| DEUTSCHE BANK AG | 3.00% | |
| DHL GROUP | 2.89% | |
| BAYER AG | 2.81% | |
| DEUTSCHE BOERSE AG | 2.57% | |
| BASF SE | 2.44% | |
| E.ON SE | 2.36% | |
| RWE AG | 2.36% |
By country
Germany 99.08%Netherlands 0.41%Luxembourg 0.07%By asset type
Stocks 97.72%Preferred stock 1.84%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $5.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.65%, +2.96%, -3.27%.
How it works
FLGR aims to match the FTSE Germany RIC Capped Index, before fees. FTSE Russell builds this index from the FTSE Germany Index. It decides which companies count as German using tests such as where a company is incorporated and listed, its tax home and its headquarters. As of May 31, 2026, the index held 65 stocks, ranging in market value from $4.68 billion to $239.99 billion. Bigger companies get bigger weights, based on free-float market value: the value of shares that are actually available for public trading.
Each quarter the index caps its weights. No single company may top 25%, and companies above 5% may not add up to more than 50% combined. Even so, a few names dominate. As of June 30, 2026, Siemens made up 12.1% of the fund, Allianz 9.3% and SAP 8.1%, and the 10 largest holdings came to 61.7%. As of May 31, 2026, the index was concentrated in industrials, and the fund concentrates to the same degree.
The fund keeps at least 80% of its assets in index stocks. It can own every stock in the index or a representative sample of them. It may use futures and swaps to put spare cash to work. On June 30, 2026, it held a tiny DAX futures position. Currency contracts are described only for settling trades and protecting distributions, so euro swings still affect returns. Turnover was 6%.
What it really costs
- FLGR charges 0.09% a year, versus an average of 0.43% for the similar funds below (1st of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $9 in the first year and $116 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FLGR | $9 | $29 | $51 | $116 |
In a retirement portfolio
A single-country fund that has dropped as much as 46.3% since launch fits better as a small add-on than as the base of a portfolio.
FLGR could add German companies that a US-focused portfolio may barely hold, at a 0.09% expense ratio. In the SEC's standard example, that comes to about $116 over 10 years on $10,000. The ride has been rough. The fund launched in November 2017, so it has no record from 2008. It fell 38.9% in early 2020 and had recovered by July 2020. In 2022 it fell 40% between January and September and took until March 2024 to get back. Its worst calendar year was 2022, down 22.1%. Its deepest drop was 46.3%, from January 2018 to March 2020. Anyone who had to sell during a stretch like that would lock in losses. The trailing yield was 3.43% as of October 27, 2026. The fund pays twice a year, so the income arrives unevenly. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Cost-conscious investors who want German large and midsize stocks at 0.09% a year, against a 0.43% average for the similar funds compared here.
- Investors adding a small single-country slice next to broad holdings, who accept that the 10 largest positions were 61.7% of assets as of June 30, 2026.
- Holders who want some income and don't mind twice-yearly payouts. The trailing yield was 3.43% as of October 27, 2026.
Look elsewhere if
- Investors who want broad European exposure. The iShares MSCI Eurozone ETF (EZU) spreads across more countries, though it charges 0.51%.
- Anyone who can't sit through deep losses. FLGR fell 40% in 2022 and didn't recover until March 2024.
- Those who put trading volume first. FLGR held about $37 million (June 30, 2026), while EWG held about $1.8 billion (August 31, 2026).
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
What's the difference between FLGR and EWG?
The main differences are cost and size. FLGR charges 0.09% a year, while the iShares MSCI Germany ETF (EWG) charges 0.50%. Their holdings overlap by 91%. Returns have been close: as of October 27, 2026, FLGR returned 1.5% over one year and 21.7% a year over three years, against 1.3% and 21.2% for EWG. EWG is much larger, with about $1.8 billion in net assets as of August 31, 2026. FLGR had about $37 million as of June 30, 2026. A larger fund often trades more heavily.
Does FLGR pay dividends?
Yes. FLGR pays dividends twice a year. Over the 12 months to October 27, 2026, it paid $1.11 per share, a trailing yield of 3.43%. The payouts come from dividends paid by German companies such as Allianz, Siemens and Deutsche Telekom. Those companies pay in euros, so the dollar amount can change with exchange rates as well as with what each company pays. Payments every six months can also be lumpy for anyone who wants steady monthly income.
What are FLGR's top holdings?
As of June 30, 2026, FLGR's largest holdings were Siemens (12.1%), Allianz (9.3%), SAP (8.1%), Siemens Energy (7.4%) and Infineon Technologies (6.3%). Next came Deutsche Telekom, Munich Re, Rheinmetall, Deutsche Bank and DHL Group. Together, the top 10 made up 61.7% of the fund, across 64 issuers. About 99% of assets were in German companies. That makes the fund's results depend heavily on a handful of large German firms.
How risky is FLGR?
FLGR carries the extra risk of a fund tied to one country and a few big companies. Its deepest drop was 46.3%, from January 2018 to March 2020. It lost 22.1% in 2022. Its worst quarter was a 26.91% loss in early 2020, followed by its strongest, a 26.81% gain in the next quarter. Its volatility, a measure of how widely returns swing, was 17.4% a year over the three years to October 27, 2026.
How has FLGR performed since launch?
Over the long run, FLGR's results have been modest but uneven. As of December 31, 2025, it returned 36.7% over one year, 9.02% a year over five years and 6.18% a year since its November 2017 launch. Its index, the FTSE Germany Capped Index-NR, returned 36.38%, 8.72% and 5.96% over the same periods. Calendar years swung widely, from a 22.1% loss in 2022 to a 36.7% gain in 2025. In 2026 through October 27, it was down 0.51%.