At a glance
FLLA charges 0.19% a year, below the 0.46% average of the 6 funds most like it (the cheapest of 7). It has $105.9M in assets, the 5th largest of that group; it paid 4.91% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +21.1% with distributions reinvested (S&P 500: +11.5%), 2nd of those 7 funds; over three years it returned +15.1% a year. At its worst it fell 50.7% in the 2020 crash (S&P 500: 33.7%) and 28.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 15 months and 11 months after the lows. Its ten largest positions make up 38.5% of the fund, out of 128 in all.
The short version
Franklin FTSE Latin America ETF (FLLA) is an index fund that tracks the FTSE Latin America RIC Capped Index, which holds about 130 large and mid-sized companies, mostly in Brazil and Mexico. Its 0.19% annual expense ratio is the lowest of seven similar funds compared here, which average 0.46%. The trade-offs are its small size, about $106 million in net assets as of June 30, 2026, and its sharp price swings.
Price history
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FLLA +21.1% 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 | |
|---|---|---|---|---|---|---|
| FLLA official prospectus, to Dec 31, 2025 | — | +50.71% | — | +7.69% | — | +4.64% |
| FTSE Latin America Index index, same period | — | +51.97% | — | +8.49% | — | +5.34% |
| FTSE Latin America Capped Index-NR index, same period | — | +50.94% | — | +7.89% | — | +4.81% |
| FLLA price data to Oct 27, 2026 | +12.3% | +21.1% | +15.1% | +12.2% | — | +6.1% |
- Over the year to Oct 27, 2026, FLLA returned +21.1%, 2nd of 7 among similar funds.
- Its 5-year annualized return was +12.2%.
- In the 2020 COVID crash it fell 50.7% and regained its old high 14.5 months after the low.
- Its worst full calendar year was 2024 (-26.9%); its best was 2025 (+51.9%).
- The deepest fall in its price history was 53.9% (Jan 2, 2020 to Mar 23, 2020), recovered by Jul 24, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.3% | — |
| 2025 | +51.9% | +50.71% |
| 2024 | -26.9% | -26.36% |
| 2023 | +32.8% | +32.44% |
| 2022 | +7.8% | +8.39% |
| 2021 | -8.9% | -9.08% |
| 2020 | -15.0% | -14.76% |
| 2019 | +19.5% | +19.62% |
| 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 50.7% over that stretch · deepest drop along the way 50.7%, back to its old high 14.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 8.4% over that stretch · deepest drop along the way 28.3%, back to its old high 11 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3700 | |
| 2025 | $1.4700 | +23.5% |
| 2024 | $1.1900 | -11.2% |
| 2023 | $1.3400 | -28.7% |
| 2022 | $1.8800 | +23.7% |
| 2021 | $1.5200 | +204.0% |
| 2020 | $0.5000 | -44.4% |
| 2019 | $0.9000 |
What's inside
As of Jun 30, 2026, the fund held 128 securities; the ten largest made up 38.48% of assets.
| Holding | Weight | |
|---|---|---|
| VALE SA | 6.76% | |
| ITAU UNIBANCO HOLDING SA Preferred stock | 5.67% | |
| PETROLEO BRASILEIRO SA Preferred stock | 4.25% | |
| GRUPO MEXICO SAB DE CV | 4.10% | |
| GRUPO FINANCIERO BANORTE SAB DE CV | 3.91% | |
| PETROLEO BRASILEIRO SA | 3.84% | |
| FOMENTO ECONOMICO MEXICANO SAB DE CV | 2.80% | |
| AMERICA MOVIL SAB DE CV | 2.52% | |
| CEMEX-CEMENTOS MEXICANOS SAB DE CV Preferred stock | 2.33% | |
| BANCO BRADESCO SA Preferred stock | 2.31% | |
| ITAUSA SA Preferred stock | 1.92% | |
| WAL-MART DE MEXICO SAB DE CV (WAL-MART DE MEXICO SA DE CV) | 1.88% | |
| B3 - BRASIL BOLSA BALCAO SA | 1.81% | |
| AXIA ENERGIA SA | 1.79% | |
| WEG SA | 1.73% |
By country
Brazil 56.68%Mexico 30.16%Chile 9.22%Colombia 3.08%By asset type
Stocks 77.32%Preferred stock 21.82%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $23.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.73%, -4.43%, -2.87%.
How it works
FLLA is a passive fund. Franklin Templeton tries to match the FTSE Latin America RIC Capped Index, before fees and expenses, rather than picking stocks. FTSE Russell builds that index from its FTSE Latin America Index, which measures large- and mid-sized Latin American stocks. It decides which companies count as Latin American using tests such as where a company is incorporated, listed and headquartered and what currency its shares trade in. As of May 31, 2026, the index held 131 securities, worth from $1.29 billion to $119.07 billion each.
Bigger companies get bigger weights. The weights count only shares that are freely available to the public. Every quarter, caps are applied: no single issuer can exceed 25%, and issuers above 5% cannot add up to more than 50%. As of June 30, 2026, Brazil made up 56.7% of the fund and Mexico 30.2%. About 22% was in preferred shares, a share class common in Brazil. Itaú Unibanco and Petrobras are two examples. The index leaned heavily toward financial services as of May 31, 2026.
The fund keeps at least 80% of its assets in index stocks and depositary receipts, which are certificates that represent foreign shares. It may hold every stock in the index or a representative sample. It uses small positions in futures and total return swaps to put cash to work, and currency contracts to settle trades. Turnover was 12%. If index weights shift, the fund may become "non-diversified," meaning more of its money sits in fewer companies.
What it really costs
- FLLA charges 0.19% a year, versus an average of 0.46% for the similar funds below (1st of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $241 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FLLA | $19 | $60 | $105 | $241 |
In a retirement portfolio
It offers low-cost exposure to Latin American stocks, but it is concentrated in two countries and has suffered drops of more than 50%.
FLLA could add companies that a US-focused portfolio may hold little of, such as Vale, Itaú Unibanco and Petrobras. Its price has swung sharply. It launched in 2018, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 50.7% and took 14.5 months to recover. While the broad market fell from January to October 2022, FLLA gained 8.4%. Within that period it still had its own 28.3% drop, which took 11 months to recover. Its worst calendar year was 2024, when it lost 26.36%. Its deepest drop, 53.9% from January to March 2020, took 40 months to recover.
Anyone who has to sell shares or draw income during a stretch like that could lock in losses. The trailing yield was 4.91% as of October 27, 2026, paid twice a year. Costs are low at 0.19% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want one low-cost fund covering Brazil, Mexico, Chile and Colombia, at 0.19% a year versus a 0.46% average for similar funds.
- Investors looking for a small, higher-risk position who can hold through drops like the 50.7% fall in the 2020 COVID crash.
- Investors who want dividends along with stock exposure. The trailing yield was 4.91% as of October 27, 2026, paid twice a year.
Look elsewhere if
- Retirees who may need to sell in a downturn. The fund's deepest drop, 53.9% in 2020, took 40 months to recover.
- Investors who want broad emerging-markets exposure. About 57% sits in Brazil, and the 10 largest holdings make up 38.5% of the fund.
- Investors who prefer a large fund. FLLA had about $106 million in net assets, against $3.7 billion for iShares Latin America 40 ETF (ILF).
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FLLA this fund | — | 0.19% | $105.9M | +21.1% | +15.1% |
| FLBR Franklin FTSE Brazil ETF | 57% | 0.19% | $518.1M | +22.1% | +13.4% |
| EWZ iShares MSCI Brazil ETF | 52% | 0.59% | $8.17B | +16.6% | +10.9% |
| FLN First Trust Latin America AlphaDEX Fund | 45% | 0.8% | $34.6M | +19.8% | +16.5% |
| ILF iShares Latin America 40 ETF | 36% | 0.48% | $3.74B | +19.9% | +16.3% |
| FLMX Franklin FTSE Mexico ETF | 30% | 0.19% | $84.3M | +17.2% | +14.8% |
| EWW iShares MSCI Mexico ETF | 30% | 0.5% | $1.82B | +17.0% | +15.2% |
Questions investors ask
Is FLLA good for retirement?
FLLA may suit a small, higher-risk slice of a retirement portfolio rather than serve as a core holding. It is cheap at 0.19% a year and yielded 4.91% as of October 27, 2026, but it is volatile. It fell 50.7% in the 2020 COVID crash and lost 26.36% in 2024, and its deepest drop took 40 months to recover. Anyone who may need to sell shares in a bad year could end up selling at a loss.
FLLA vs ILF: what's the difference?
Both funds hold Latin American stocks, but FLLA charges 0.19% a year and iShares Latin America 40 ETF (ILF) charges 0.48%. ILF is much larger, with about $3.7 billion in net assets versus about $106 million for FLLA as of June 30, 2026. Their holdings overlap by about 36%. As of October 27, 2026, FLLA returned 21.1% over one year and ILF 19.9%. Over three years, ILF led with 16.3% a year versus 15.1% for FLLA.
How often does FLLA pay dividends?
FLLA pays dividends twice a year. Over the 12 months through October 27, 2026, it paid about $1.31 per share, a trailing yield of 4.91%. Payouts can change from year to year, because they depend on what the underlying companies pay. Exchange rates also matter: dividends paid in Brazilian reais or Mexican pesos are worth more or fewer dollars as currencies move.
What are FLLA's top holdings?
As of June 30, 2026, the largest holdings were Vale (6.8%), Itaú Unibanco preferred shares (5.7%), Petrobras preferred shares (4.2%), Grupo Mexico (4.1%) and Grupo Financiero Banorte (3.9%). Petrobras common shares added another 3.8%. The top 10 holdings made up 38.5% of assets. By country, Brazil was 56.7%, Mexico 30.2%, Chile 9.2% and Colombia 3.1%.
What is FLLA's expense ratio?
FLLA's expense ratio is 0.19% a year, all of it management fee, according to its prospectus filed July 27, 2026. That is the lowest of seven similar Latin America, Brazil and Mexico funds compared here, which average 0.46%. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $19 after one year, $105 after five years and $241 after ten years.