EWU vs FLGB: Grades, Fees and Holdings Compared

iShares MSCI United Kingdom ETF

EWUBNYSE Arca

Franklin FTSE United Kingdom ETF

FLGBANYSE Arca

Overlap

87.4%by weight

Expense ratio

FLGB −0.41pt a year

EWU0.50%FLGB0.09%

Avg volume · 30D

EWU 10.9×the volume

EWU1.15MFLGB106K

5Y return · a year

FLGB +0.1pt

EWU+11.6%FLGB+11.7%

EWU vs FLGB Performance

Oct 29, 2021 – Oct 30, 2026

+72.8%EWU+74.3%FLGB

Expense ratio: EWU 0.50%; FLGB 0.09%, better
Fund size: EWU $3.73B; FLGB $878M
1Y total return: EWU +15.9%; FLGB +15.9%
Yield (12M): EWU 3.13%, better; FLGB 2.87%
Holdings: EWU 72; FLGB 89
Avg volume (30D): EWU 1.15M sh, better; FLGB 106K sh
NAV per share: EWU $47.68; FLGB $36.82
52W range

ETF.net Grade

Pillar letters and Scores for EWU, FLGB, with each pillar’s weight
Pillar	EWU	FLGB
Cost30% weight	B55	A93Higher
Mission25% weight	A71	A73Higher
Risk15% weight	A75Higher	A73
Tradability15% weight	A81Higher	B62
Holdings10% weight	B69	A72Higher
Durability5% weight	A78Higher	C53

Rank among Developed Single Country funds

How we build Categories ›

Same Category. EWU and FLGB are both graded against the same 38 Developed Single Country funds, so their Grades compare head to head.

Developed Single Country⁠

Category · 38 funds

See all 38 ›

FLGB ranks 3rd and EWU 6th of 38 funds in the Developed Single Country Category.

Rank 1AEWCiShares MSCI Canada ETFScore 78
Rank 1AFLCAFranklin FTSE Canada ETFScore 78
Rank 3AFLGBFranklin FTSE United Kingdom ETFScore 76
Rank 4ABBCAJPMorgan BetaBuilders Canada ETFScore 71
Rank 5AFLAUFranklin FTSE Australia ETFScore 70
Rank 6BEWUiShares MSCI United Kingdom ETFScore 68
Rank 7BEWGiShares MSCI Germany ETFScore 67

Our read on each fund

ETF.net Research

EWUBiShares MSCI United Kingdom ETF

FLGBAFranklin FTSE United Kingdom ETF

In short

EWU Trading since 1996, EWU is the veteran one-ticker route into British blue chips: roughly 70 UK stocks in a single MSCI-tracked basket, held through Brexit, rate cycles and everything in between.

FLGB Britain in one ticker for nine basis points. Franklin's UK tracker follows a capped FTSE index of roughly 110 British companies and charges a small fraction of what the typical index fund in its peer group costs.

Stated mandate

EWU The fund seeks to track an index of U.K. equities, providing targeted exposure to companies in the United Kingdom and a way to express a single-country investment view.

FLGB The fund seeks to track, before fees and expenses, the performance of the FTSE UK RIC Capped Index.

Why people hold it

EWU A 1996 launch means this fund has tracked UK stocks through Brexit, a financial crisis and multiple rate cycles under one continuous ticker.
A multi-billion-dollar fund that trades actively, so getting in and out rarely means fighting the order book.
Rates among the stronger developed-market single-country funds in its peer group on cost, tracking and tradability together.
Roughly 70 holdings tracking the MSCI United Kingdom Index (Net). Concentrated, transparent, no guessing what you own.

FLGB 0.09% a year, a fraction of the median fee across the index trackers we grade. Cheap is the whole pitch for single-country beta, and this one delivers it.
One trade, roughly 110 UK companies. A passive, rules-based mandate tied to the FTSE UK RIC Capped Index, running since its 2017 launch.
Stands in the top quartile of its plain-index-wrapper peer group, and the mandate data behind that read is high confidence.

Worth knowing

EWU 0.50% a year is the category median, but cohort peers like FLKR and FLAU charge 0.09%. The liquidity and pedigree here cost extra.
One country, about 70 names: UK policy and the index's sector mix drive results far more than in a global fund.
Distributions arrive once or twice a year rather than quarterly, so income lands in lumps.

FLGB Single-country by design: UK listings only, so there is no cushion from other markets inside the fund. Broad global trackers like VT spread that bet differently.
Moderately traded rather than a volume monster, so limit orders are the sane way in and out.
Distributions arrive once or twice a year, not monthly. Income lands in lumps.

Full EWU profile⁠

Full FLGB profile⁠

EWU vs FLGB Holdings

How EWU and FLGB differ

Overlap by weight

87.4%

Shared holdings make up 91.2% of EWU and 87.5% of FLGB.

Level by level

Holdings61 in both87.4%
Sector11 Sectors97.7%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in EWU and FLGB, widest gap first
Sector	More in EWUMore in FLGB	EWU	FLGB
Consumer Discretionary	FLGB +0.9 points	3.8%	4.7%
Industrials	FLGB +0.8 points	12.7%	13.5%
Financials	EWU +0.7 points	24.8%	24.1%
Energy	EWU +0.6 points	13.9%	13.3%
Communication	FLGB +0.4 points	2.0%	2.4%
Technology	EWU +0.3 points	1.0%	0.7%
Consumer Staples	EWU +0.3 points	14.9%	14.6%
Health Care	EWU +0.3 points	13.2%	12.9%
Real Estate	FLGB +0.2 points	0.7%	0.9%
Utilities	FLGB +0.1 points	5.1%	5.2%
Materials	Same weight	7.8%	7.8%

Country, concentration and asset class

Country by domicile

Country weights in EWU and FLGB, widest gap first
Country	More in EWUMore in FLGB	EWU	FLGB
United Kingdom	EWU +0.4 points	95.2%	94.8%
Switzerland	Same weight	2.6%	2.6%
Ireland	Same weight	1.1%	1.1%
Hong Kong	EWU +0.1 points	1.0%	0.9%
United States	FLGB +0.3 points	0.0%	0.3%
Mexico	Same weight	0.2%	0.2%
Greece	FLGB +0.2 points	0.0%	0.2%

Outside the US: EWU 100% developed, 0% emerging. FLGB 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

EWU53.5%
FLGB51.1%

Securities held

EWU66
FLGB86

Asset class

EWU: Equity
FLGB: Equity

Holdings

Only in EWU5
In both61
Only in FLGB25

Only in EWU

5 securities, 8.3% of EWU by weight

Unilever PLC4.44%
Glencore PLC2.06%
Reckitt Benckiser Group PLC1.45%
Coca Cola Hbc AG0.40%
Nmc Health PLC0.00%

Only in FLGB

25 securities, 12.5% of FLGB by weight

Unilever PLC4.10%
Glencore PLC2.13%
Reckitt Benckiser Group1.41%
Coca-Cola Europacific Par0.68%
Coca-Cola Hbc Ag-Di0.37%
Intl Consolidated Airline0.34%
Imi PLC0.28%
Weir PLC0.27%
Hiscox Ltd0.25%
Dcc Energy PLC0.22%
St James's Place PLC0.21%
Games Workshop Group PLC0.21%
Croda International PLC0.20%
Icg PLC0.19%
Convatec Group PLC0.19%
Whitbread PLC0.19%
Metlen Energy & Metals0.18%
Howden Joinery Group PLC0.18%
British Land Co PLC0.18%
Barratt Redrow PLC0.17%
Autotrader Group PLC0.17%
Burberry Group PLC0.15%
Net Current Assets0.12%
Jd Sports Fashion PLC0.08%
Ccp Initial Margin Jpmgbp<0.01%

Weight gaps

All 61 Holdings in both funds, largest gap first.

Holding weights in EWU and FLGB, widest gap first
Holding	More in EWUMore in FLGB	EWU	FLGB
Astrazeneca PLCAZN.L	EWU +0.45 points	8.93%	8.48%
Hsbc Holdings PLCHSBA.L	EWU +0.43 points	9.30%	8.87%
ShellSHEL.L	EWU +0.33 points	9.88%	9.54%
Rio TintoRIO.L	EWU +0.20 points	2.75%	2.55%
Bp PLCBP.L	EWU +0.18 points	4.17%	3.99%
GlaxosmithklineGSK.L	EWU +0.17 points	3.17%	3.00%
Rolls-Royce Holdings PLCRR.L	EWU +0.16 points	4.37%	4.21%
British American TobaccoBATS.L	EWU +0.11 points	3.89%	3.78%
Bae Systems PLCBA.L	EWU +0.10 points	2.56%	2.46%
Barclays PLCBARC.L	EWU +0.10 points	2.37%	2.27%
Relx PLCREL.L	EWU +0.10 points	2.22%	2.12%
National Grid PLCNG.L	EWU +0.09 points	2.64%	2.55%
Tesco PLCTSCO.L	EWU +0.09 points	1.43%	1.34%
Lloyds Banking Group PLCLLOY.L	EWU +0.08 points	2.30%	2.22%
Natwest Group PLCNWG.L	EWU +0.09 points	1.96%	1.87%
Compass Group PLCCPG.L	EWU +0.08 points	1.81%	1.73%
Diageo PLCDGE.L	EWU +0.06 points	1.65%	1.59%
Sse PLCSSE.L	EWU +0.06 points	1.35%	1.29%
Standard Chartered PLCSTAN.L	EWU +0.05 points	1.52%	1.47%
Experian PLCEXPN.L	EWU +0.05 points	1.12%	1.07%
Next PLCNXT.L	EWU +0.05 points	0.74%	0.69%
M&G PLCMNG.L	EWU +0.04 points	0.30%	0.26%
Pearson PLCPSON.L	FLGB +0.04 points	0.26%	0.30%
Haleon PLCHLN.L	EWU +0.04 points	1.19%	1.15%
Bt Group PLC	EWU +0.04 points	0.55%	0.51%
Prudential PLCPRU.L	EWU +0.04 points	0.98%	0.94%
Aviva PLCAV.L	EWU +0.04 points	0.93%	0.89%
Admiral Group PLCADM.L	EWU +0.02 points	0.42%	0.40%
Intercontinental Hotels Group PLCIHG.L	EWU +0.03 points	0.75%	0.72%
The Sage GroupSGE.L	EWU +0.03 points	0.45%	0.42%
London Stock Exchange Group PLCLSEG.L	FLGB +0.02 points	1.77%	1.79%
Segro Reit PLCSGRO.L	FLGB +0.03 points	0.47%	0.50%
Antofagasta PLCANTO.L	EWU +0.03 points	0.46%	0.43%
BunzlBNZL.L	EWU +0.02 points	0.39%	0.37%
3I Group Fund PLCIII.L	EWU +0.02 points	0.99%	0.97%
Severn Trent PLCSVT.L	EWU +0.02 points	0.38%	0.36%
Rentokil Initial PLCRTO.L	EWU +0.02 points	0.37%	0.35%
Smiths Group PLCSMIN.L	EWU +0.02 points	0.34%	0.32%
Marks and Spencer Group PLCMKS.L	EWU +0.02 points	0.36%	0.34%
Vodafone Group PLCVOD.L	EWU +0.02 points	0.90%	0.88%
Diploma PLCDPLM.L	EWU +0.02 points	0.41%	0.39%
Intertek Group PLCITRK.L	EWU +0.02 points	0.39%	0.37%
Smith and Nephew PLCSN.L	FLGB +0.02 points	0.36%	0.38%
United Utilities Group PLCUU.L	EWU +0.02 points	0.48%	0.46%
Airtel Africa PLCAAF.L	EWU +0.01 points	0.08%	0.07%
Anglo American PLCAAL.L	EWU +0.01 points	1.66%	1.65%
Informa PLCINF.L	EWU +0.02 points	0.48%	0.46%
Associated British Foods PLCABF.L	EWU +0.02 points	0.23%	0.21%
Imperial Brands PLCIMB.L	EWU +0.02 points	0.91%	0.89%
Sainsbury(J) PLCSBRY.L	FLGB +0.02 points	0.24%	0.26%
Halma PLCHLMA.L	EWU +0.02 points	0.54%	0.52%
Centrica PLCCNA.L	EWU +0.01 points	0.30%	0.29%
Kingfisher PLCKGF.L	EWU +0.02 points	0.25%	0.23%
Endeavour MiningEDV.L	EWU +0.02 points	0.34%	0.32%
Melrose Industries PLCMRO.L	EWU +0.01 points	0.25%	0.24%
Land Securities Group Reit PLCLAND.L	EWU +0.01 points	0.23%	0.22%
Spirax Group PLCSPX.L	EWU +0.01 points	0.23%	0.22%
Legal and General Group PLCLGEN.L	FLGB +0.01 points	0.66%	0.67%
Wise PLC Class AWISE.L	EWU +0.01 points	0.25%	0.24%
Fresnillo PLCFRES.L	EWU +0.01 points	0.18%	0.17%
Standard Life PLCSDLF.L	Same weight	0.30%	0.30%

All 66 EWU holdings⁠All 111 FLGB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EWU vs FLGB Cost

Overpaying EWU vs FLGB

$8,081

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EWU 0.50%
$9,979
FLGB 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

EWU 0.50%
FLGB 0.09%
Overpaying

Year by year

Year	EWU	FLGB	Overpaying
10	$900	$165	$735
20	$3,460	$646	$2,814
30	$9,979	$1,898	$8,081

Expense ratio

0.50%EWU
0.09%FLGB, cheaper

FLGB0.09%EWU0.50%

0.09%0.95%

Middle half of Developed Single Country funds
Median 0.50%

FLGB cheapest of 38 funds

EWU 14th cheapest of 38 funds

EWU vs FLGB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EWU 3.13%, better; FLGB 2.87%
Payout (12M): EWU $1.50; FLGB $1.06
Last payment: EWU $0.67; FLGB $0.47
Ex-dividend: EWU Jun 15, 2026; FLGB Jun 26, 2026
Paid on: EWU Jun 18, 2026; FLGB Jul 6, 2026
Frequency: EWU Twice a year; FLGB Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EWUTwice a year · 19 paymentsAll EWU payments⁠

FLGBTwice a year · 18 paymentsAll FLGB payments⁠

EWU vs FLGB Risk

Fall from peak · 5 years

EWU
FLGB

Risk facts

VolatilityStd dev, 3 years: EWU 10.8%, betterFLGB 11.0%
Return per unit of riskSharpe ratio, 3 years: EWU 1.40FLGB 1.44, better
Worst fallMax drawdown, 5 years: EWU −24.9%, betterFLGB −25.9%
Market sensitivityBeta, 5 years: EWU 0.71FLGB 0.75; Market = 1

EWU and FLGB in the news

All news⁠

News
UK flash PMI falls to 51.7 as costs and selling prices accelerate
Sep 23, 2026EWUFLGB
News
UK borrowing through August runs £8.1 billion above the OBR's March path
Sep 22, 2026EWUFLGB
News
UK retail volumes rise 0.5% in August, beating forecasts of a 0.2% drop
Sep 18, 2026EWUFLGB
News
UK inflation rises to 3.1% on motor fuel, core holds at 2.6% ahead of Bank vote
Sep 16, 2026EWUFLGB
Category Review
Korea and Taiwan made the year in markets not everyone calls developed
Updated Oct 28, 2026EWU
Deep Dive
Hedged Japan funds rose 0.7% as the yen fell; VGK dropped 1.8%
Sep 20, 2026EWU

Popular comparisons

EWUBvsEWCA
iShares MSCI United Kingdom ETF · iShares MSCI Canada ETF
Expense ratio
0.50% · 0.50%
Category
FLGBAvsEWCA
Franklin FTSE United Kingdom ETF · iShares MSCI Canada ETF
Expense ratio
0.09% · 0.50%
Category
EWUBvsFLCAA
iShares MSCI United Kingdom ETF · Franklin FTSE Canada ETF
Expense ratio
0.50% · 0.09%
Category
FLGBAvsFLCAA
Franklin FTSE United Kingdom ETF · Franklin FTSE Canada ETF
Expense ratio
0.09% · 0.09%
Category
EWUBvsBBCAA
iShares MSCI United Kingdom ETF · JPMorgan BetaBuilders Canada ETF
Expense ratio
0.50% · 0.19%
Category
FLGBAvsBBCAA
Franklin FTSE United Kingdom ETF · JPMorgan BetaBuilders Canada ETF
Expense ratio
0.09% · 0.19%
Category