Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
First Trust Japan AlphaDEX Fund
$78.37−0.09 (−0.11%)
- 0.80%
- $272M
- +28.2%
- 2.47%
- 0M sh
- $77.85
- low $62.01high $82.45
The ETF.net FJP Grade
C
Score 50 out of 100
- 13 of 18
Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F21 out of 100Rank 14 of 18Mission
Whether the fund did what it promised, tested against its stated mandate.A96 out of 100Rank 9 of 14Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D32 out of 100Rank 16 of 18Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D32 out of 100Rank 13 of 18Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A71 out of 100Rank 7 of 18Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A71 out of 100Rank 5 of 18
Our read on FJP
CMost Japan ETFs buy the market by size. FJP scores Japanese stocks on growth and value, then holds roughly 100 of the highest scorers, weighted by rank rather than market cap. A stock-picker's rulebook in an index wrapper.
The Fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX® JapanTM Index.
Why people hold it
- The AlphaDEX screen ranks the Nasdaq Japan universe separately on growth and value marks, then keeps about 100 names weighted by rank, so Japan's biggest companies don't automatically get the biggest slots.indexes.nasdaqomx.com
- Live since 2011, it is one of the longer-running factor takes on Japanese stocks, and it has grown into a fund holding hundreds of millions of dollars.
- About 100 holdings spread the exposure well beyond a handful of blue chips, and the fund distributes on a quarterly schedule.
- It stays on mandate: a Japan-only equity portfolio built to the Nasdaq AlphaDEX Japan Index, tracking that benchmark closely with no side bets bolted on.
Worth knowing
- The screen costs money: 0.80% a year, several times what plain cap-weighted Japan trackers like FLJP and BBJP charge, and at the pricier end of the Japan shelf.
- Thinly traded next to the Japan giants, so spreads and order timing carry more weight here; limit orders exist for exactly this situation.
- One country, one currency, one rulebook. The portfolio can look and behave very differently from Japan's headline cap-weighted indexes in any given stretch.indexes.nasdaqomx.com
FJP Holdings
- Stocks
- 102
- 19%
- 9101.T
Sectors
- Industrials34.2%
- Consumer Discretionary18.3%
- Technology14.2%
- Financials10.7%
- Materials7.0%
- Utilities5.1%
- Energy4.3%
- Real Estate2.2%
- Consumer Staples1.7%
- Health Care1.4%
- Communication1.0%
Geography
- Japan100.00%
Developed 100% · Emerging 0%
FJP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FJP$12,822
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FJP |
|---|---|
| Year to date | +17.7% |
| 1 month | −0.5% |
| 3 months | +2.4% |
| 1 year | +28.2% |
| 3 years | +20.4% |
| 5 years | +12.0% |
| 10 years | +7.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FJP |
|---|---|---|
| 2026 YTD | +17.7% | |
| 2025 | +33.6% | |
| 2024 | +5.8% | |
| 2023 | +23.0% | |
| 2022 | −12.9% | |
| 2021 | −1.2% | |
| 2020 | +3.6% |
FJP in the news
FJP Dividends
- 2.47%
- $1.93
- $0.48 per share
- Quarterly
Distribution history
FJP Risk
- 14.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.00
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −26.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.83
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FJP Cost
0.80%
FJP0.80%
- The middle half of Japan funds
- Median 0.54%
14 of the 18 Japan funds charge less.
Other funds in Japan
- BOPPJWisdomTree Japan Opportunities FundExpense ratio 0.58%1 year return +44.6%
- CMJSCMUFG Japan Small Cap Active ETFExpense ratio 0.75%1 year return +33.7%
- CJPYLazard Japanese Equity ETFExpense ratio 0.60%1 year return +31.2%
- CHEWJiShares Currency Hedged MSCI Japan ETFExpense ratio 1.02%1 year return +39.6%
- CJPANMatthews Japan Active ETF JPANExpense ratio 0.79%1 year return +29.7%