FLSW ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Franklin FTSE Switzerland ETF (FLSW) is a single-country fund that offers broadly diversified exposure to Switzerland's leading blue-chip stocks. Its low expense ratio, heavy weighting in health care and consumer staples, and currency exposure are the key factors in judging its outlook and dividends.
SubscribeWhat Is the Franklin FTSE Switzerland ETF?
This single-country ETF tracks the FTSE Switzerland Index and holds large- and mid-cap Swiss stocks on a market-cap-weighted basis. Health care, consumer staples, and financials form its main pillars.
It suits long-term investors who want to reduce their U.S. concentration and broaden regional diversification with European and Swiss blue chips.
It is a passive (index-tracking) ETF managed by Franklin Templeton.
How Does the Franklin FTSE Switzerland ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | FTSE Switzerland Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Semiannual |
| Dividend Frequency | Semiannual |
| Issuer | Franklin Templeton |
| Total Expense Ratio | 0.09% |
The fund holds the constituents of the FTSE Switzerland Index in proportion to their market-cap weights, tracking the performance of Swiss-listed blue chips as a whole. Holdings and weights are rebalanced periodically under the index rules, and the manager maintains a low-cost passive structure focused on replicating the index.
- Exposure to Swiss blue chips through a single-country concentration
- Expense level lower than the category average
Franklin FTSE Switzerland ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $92.7M, and the total expense ratio is 0.09% per year.
Compared with EWL, which offers the same Swiss exposure, its cost burden is lower, though there are differences in trading liquidity and asset size.
Franklin FTSE Switzerland ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeSwiss blue chips carry a high weighting in defensive health care and consumer staples names, so they tend to hold up relatively well during volatile markets. Short-term performance is also affected by exchange rates and the global economic cycle.
Demand for regional diversification to ease U.S. concentration is behind the fund inflows, and the fact that swings in the dollar and Swiss franc exchange rate are reflected in performance in both won and dollar terms acts as a variable for fund flows.
Franklin FTSE Switzerland ETF Pros and Cons
Its strengths are diversification across Swiss blue chips and a low expense level, while its main drawbacks are single-country concentration and currency exposure.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products to the Franklin FTSE Switzerland ETF
The EWL product shown in the table is a direct substitute tracking the same Swiss market, with larger asset size and liquidity but a different expense level. EWU, EWG, and EWP are European ETFs with single-country exposure to the United Kingdom, Germany, and Spain, respectively. To broaden exposure beyond Switzerland to Europe as a whole or the eurozone, you can also consider broad European ETFs such as VGK and EZU.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWC | iShares MSCI Canada ETF | $60.62 | -1.5% | $7.7B | 0.50% | 1.24% | +19.6% |
 EWU | iShares MSCI United Kingdom ETF | $47.83 | +0.3% | $3.7B | 0.50% | 3.13% | +11.9% |
 EWL | iShares MSCI Switzerland ETF | $64.37 | +0.4% | $3.0B | 0.50% | 1.69% | +15.8% |
 EWP | iShares MSCI Spain ETF | $56.33 | -1.2% | $2.0B | 0.50% | 2.95% | +12.0% |
 EWG | iShares MSCI Germany ETF | $41.88 | -1.3% | $1.6B | 0.49% | 1.99% | +2.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NVS | Novartis AG ADR | 0.28% | $160.79 | -0.2% | $294.3B | 30.7 | 2.7% |
| UBS | UBS Group AG | 0.09% | $47.69 | -0.9% | $146.0B | 15.7 | 2.63% |
| ALC | Alcon Inc | 0.04% | $71.45 | +0.5% | $34.4B | 54.8 | 0.51% |
 AMRZ | Amrize Ltd | 0.03% | $41.38 | -0.6% | $22.6B | 18.7 | 1.39% |
 LOGI | Logitech International SA | 0.02% | $95.53 | -3.5% | $13.1B | 17.2 | 1.75% |
Franklin FTSE Switzerland ETF Investor Checkpoints
These are the points to review before investing in FLSW. Because it is a single-country product, it is advisable to check country concentration, currency exposure, liquidity, and top-holding concentration in advance, and it is best to first clarify what role regional diversification plays in your own portfolio.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the impact of cumulative costs over a long holding period | Low level |
| 🌍 Country Concentration | Weighting of single-country exposure to Switzerland | Concentration needs review |
| 📊 Top Holdings | Trend in the weighting of large blue chips | Top-heavy |
| 💱 Exchange Rate | Impact of Swiss franc and dollar conversion | No currency hedge applied |
Single-country concentration and exchange rate swings are the main drivers of short-term volatility. With a high weighting in Swiss large caps, issues affecting specific sectors or stocks can have a large impact on performance.
For investors looking to broaden regional diversification beyond the U.S., it is a complementary holding that provides low-cost exposure to Swiss blue chips. If liquidity and size matter most, EWL is the suitable choice; if cost efficiency is the priority, FLSW is the better fit.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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