ETF Research Center

Franklin FTSE Eurozone ETF

ALTAR
Score™

7.0%

Recommen-
dation

UNDERWEIGHT

2025E 2026E
P/E ratio	15.2x	P/Sales ratio	1.5x
P/BV ratio	1.9x	Div. yield	3.1%

Description
Performance
Comps
Fundamentals
Valuation
Rating

The Franklin FTSE Europe Hedged ETF tracks a market-cap-weighted and currency-hedged index of large- and midcap companies in developed Europe.

FUND BASICS
Category	International Equities
Fund Sponsor	Franklin Templeton
Website	www.libertyshares.com
Inception date	Nov 02, 2017
Assets (mns)	$23
Currency	USD
Expense ratio	9 bp
Distributions	Semi-annual

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Market Cap
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	281
Wgt avg mkt cap (mns)	$107,881
Large cap (>$10bn)	93.3%
Mid cap ($2-10bn)	6.4%
Small cap (<$2bn)	0.1%
Developed mkts	99.9%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	28.9 %
ASML HOLDING NV	6.7 %
LVMH MOET HENNESSY LOUIS VUI	4.0 %
SAP AG	3.6 %
SIEMENS AG-REG	2.6 %
TOTAL SA	2.5 %
SCHNEIDER ELECTRIC SA	2.1 %
L'OREAL	1.9 %
ALLIANZ SE-REG	1.9 %
AIR LIQUIDE SA	1.8 %
SANOFI-AVENTIS	1.8 %

TOP COUNTRY EXPOSURE
	FRANCE	31.7 %
	GERMANY	25.3 %
	NETHERLANDS	16.5 %
	SPAIN	7.7 %
	ITALY	7.4 %
	FINLAND	3.1 %
	BELGIUM	2.2 %
	BRITAIN	1.0 %
	SWITZERLAND	0.9 %
	IRELAND	0.8 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru February 28)
Year-to-date	1 year	5 years	10 years	Since Incep.
11.3%	8.3%	10.2%	--	-16.3%

Market Correlations
versus...	Beta	R-squared
S&P500	0.70	53%
MSCI EAFE	0.85	79%
MSCI Emg. Mkts.	0.59	39%

Technical Indicators
Recent close	$29.23
30d moving avg.	$26.12
Annualized volatility	16.5%
Short interest (ETF)	1.4%
Relative strength (RSI)	59

Liquidity measures
Avg. volume (thou.)	21
Turnover	2.6%
Bid/Ask (% of price)	0.46%
ADV underlying (mns)	$12,527

Distributions

There were no matches found with other funds under coverage.

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RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Franklin FTSE Eurozone ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	12.7	%
Divided by: Fwd. P/BV	1.8	x
Less: Expense ratio	9	bp
Equals: ALTAR Score	7.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.59	CATEGORY AVERAGE	1.61

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.