FLGV vs FMN
Franklin US Treasury Bond ETF vs Federated Hermes Premier Municipal Income Fund
Quick Verdict
FLGV has a lower expense ratio. FMN delivered stronger 1-year returns. FMN offers more diversification with 150 holdings.
Side-by-Side Comparison
| Metric | FLGV | FMN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.75% | |
| AUM | $1.0B | $16M | |
| Dividend Yield | 4.23% | 4.43% | |
| Holdings | 51 | 150 | |
| YTD Return | -0.31% | +1.66% | |
| 1Y Return | +1.85% | +8.44% | |
| 3Y Return (annualized) | +3.66% | +7.15% | |
| 5Y Return (annualized) | -0.58% | -3.05% | |
| Volatility (annualized) | 5.0% | 14.7% | |
| Max Drawdown | -18.4% | -53.4% | |
| Fund Family | Franklin Templeton Investments (US) | Federated Hermes | |
| Category | Fixed Income | Tax Preferred | |
| Inception | Jun 9, 2020 | Dec 20, 2002 |
FLGV vs FMN Performance
Franklin US Treasury Bond ETF (FLGV) is a ETF from Franklin Templeton Investments (US) and Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes. Over the past year FLGV returned +1.85% while FMN returned +8.44%. Year to date, FLGV is down 0.31% versus a gain of 1.66% for FMN.
Over three years, FLGV compounded at +3.66% per year against +7.15% for FMN; over five years the annualized figures are -0.58% and -3.05% respectively. Across the full 6-year window we track, FMN has the edge at -0.28% annualized vs -0.88%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMN has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 5.0% for FLGV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for FLGV and -53.4% for FMN. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FLGV charges 0.09% per year while FMN charges 0.75%. On a $10,000 position that is $9 vs $75 annually, a gap of $66 per year that compounds over a long holding period. On income, FLGV currently yields 4.23% against 4.43% for FMN.
Holdings Overlap
FLGV and FMN share 0 holdings out of 86 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FLGV or FMN?
FLGV has an expense ratio of 0.09% while FMN charges 0.75%. FLGV is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, FLGV or FMN?
Over the past year FLGV returned +1.85% vs +8.44% for FMN, so FMN leads on 1-year performance. Over the longest common window we track (6 years), FLGV annualized -0.88% vs -0.28% for FMN. Past performance does not guarantee future results.
Which is riskier, FLGV or FMN?
FMN has been the more volatile fund at 14.7% annualized versus 5.0% for FLGV. Worst drawdown: FLGV -18.4% vs FMN -53.4%.
Should I hold both FLGV and FMN?
FLGV and FMN have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLGV and FMN?
FLGV and FMN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 86 unique securities.
Which pays a higher dividend, FLGV or FMN?
FLGV yields 4.23% while FMN yields 4.43%, so FMN currently pays the higher dividend yield.
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