DXJ vs FLJP: Grades, Fees and Holdings Compared

WisdomTree Japan Hedged Equity Fund

DXJBNYSE Arca

Franklin FTSE Japan ETF

FLJPANYSE Arca

Overlap

65.7%by weight

Expense ratio

FLJP −0.39pt a year

DXJ0.48%FLJP0.09%

Avg volume · 30D

FLJP 1.2×the volume

DXJ814KFLJP976K

5Y return · a year

DXJ +16.6pt

DXJ+25.8%FLJP+9.2%

DXJ vs FLJP Performance

Oct 29, 2021 – Oct 30, 2026

+214.5%DXJ+55.0%FLJP

Expense ratio: DXJ 0.48%; FLJP 0.09%, better
Fund size: DXJ $7.05B; FLJP $4.27B
1Y total return: DXJ +29.5%, better; FLJP +16.4%
Yield (12M): DXJ No data; FLJP 4.26%
Holdings: DXJ 490; FLJP 447
Avg volume (30D): DXJ 814K sh; FLJP 976K sh, better
NAV per share: DXJ $58.90; FLJP $39.98
52W range

ETF.net Grade

Pillar letters and Scores for DXJ, FLJP, with each pillar’s weight
Pillar	DXJ	FLJP
Cost30% weight	B68	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	B64Higher	C48
Tradability15% weight	C53	A71Higher
Holdings10% weight	C48	A74Higher
Durability5% weight	A80Higher	B61

Rank among Japan funds

How we build Categories ›

Same Category. DXJ and FLJP are both graded against the same 18 Japan funds, so their Grades compare head to head.

Japan⁠

Category · 18 funds

See all 18 ›

FLJP ranks 1st and DXJ 10th of 18 funds in the Japan Category.

Rank 1AFLJPFranklin FTSE Japan ETFScore 82
Rank 2ABBJPJPMorgan BetaBuilders Japan ETFScore 80
Rank 9BDBJPXtrackers MSCI Japan Hedged Equity ETFScore 63
Rank 10BDXJWisdomTree Japan Hedged Equity FundScore 62
Rank 11BOPPJWisdomTree Japan Opportunities FundScore 57

Our read on each fund

ETF.net Research

DXJBWisdomTree Japan Hedged Equity Fund

FLJPAFranklin FTSE Japan ETF

In short

DXJ Japanese stocks with the yen taken out of the math. DXJ has run its hedged, dividend-screened index since 2006, pairing roughly 400 Japanese companies with a hedge against yen-dollar swings.

FLJP Japan's whole market for nine basis points. FLJP tracks the FTSE Japan RIC Capped Index across roughly 500 stocks at 0.09%, a fraction of what the typical Japan fund charges.

Stated mandate

DXJ The fund seeks to track the WisdomTree Japan Hedged Equity Index, providing Japanese equity exposure while reducing the effect of yen-dollar currency movements.

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

Why people hold it

DXJ The hedge is the point: the index aims to strip out yen-dollar moves, so returns track Japanese share prices rather than the currency.
Costs 0.48% a year, a shade under the median for single-country Japan funds.
About 400 holdings picked through a dividend screen rather than a straight market-cap list, with cash paid out quarterly.
A multi-billion-dollar fund and one of the easier names in its Japan peer group to move in and out of.

FLJP 0.09% a year, against a Japan-cohort median near 0.50%. Same country, same broad exposure, a fraction of the toll.
Roughly 500 names via the FTSE Japan RIC Capped Index, whose capping rules trim outsized positions so no single stock runs away with the portfolio.
Running since 2017 and now a multi-billion-dollar, actively traded fund, it tracks its index tightly and ranks among the strongest builds in its Japan peer group.
Cheaper than the bigger brand-name Japan trackers it competes with, including EWJ at 0.49% and BBJP at 0.19%.

Worth knowing

DXJ Hedging cuts both ways. If the yen strengthens against the dollar, you give up the lift an unhedged Japan fund would collect.
Cheaper hedged Japan exposure exists: FLJH runs at 0.09%.
The dividend screen means this won't mirror a standard Japan market-cap index, so sector and company weights sit differently.

FLJP The yen rides along. Currency moves hit returns here; Franklin's hedged twin, FLJH, strips that out for the same 0.09%.
One country, one market cycle. Everything inside depends on Japan, so this is a slice of a portfolio rather than a diversified core.
Distributions land annually or semiannually, not monthly, so cash flow arrives in lumps.

Full DXJ profile⁠

Full FLJP profile⁠

DXJ vs FLJP Holdings

How DXJ and FLJP differ

Overlap by weight

65.7%

Shared holdings make up 92.0% of DXJ and 75.7% of FLJP.

Level by level

Holdings244 in both65.7%
Sector11 Sectors85.1%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in DXJ and FLJP, widest gap first
Sector	More in DXJMore in FLJP	DXJ	FLJP
Technology	FLJP +7.0 points	13.4%	20.4%
Communication	FLJP +4.4 points	4.1%	8.5%
Materials	DXJ +3.7 points	7.5%	3.8%
Consumer Discretionary	DXJ +3.6 points	15.5%	11.9%
Financials	DXJ +3.2 points	21.3%	18.1%
Real Estate	FLJP +2.5 points	0.0%	2.5%
Industrials	DXJ +1.8 points	25.3%	23.5%
Utilities	FLJP +1.1 points	0.1%	1.2%
Consumer Staples	DXJ +1.0 points	5.0%	4.0%
Health Care	DXJ +1.0 points	6.2%	5.2%
Energy	DXJ +0.8 points	1.6%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in DXJ and FLJP, widest gap first
Country	More in DXJMore in FLJP	DXJ	FLJP
Japan	Same weight	100.0%	100.0%

Outside the US: DXJ 100% developed, 0% emerging. FLJP 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

DXJ29.9%
FLJP25.1%

Securities held

DXJ487
FLJP444

Asset class

DXJ: Equity
FLJP: Equity

Holdings

Only in DXJ243
In both244
Only in FLJP200

Only in DXJ

243 securities, 6.9% of DXJ by weight

Nippon Shokubai Co Ltd0.10%
Citizen Watch Co Ltd0.09%
ADEKA Corp0.09%
Kose Corp0.08%
Exedy Corp0.07%
Takeuchi Mfg Co0.07%
Rengo Co Ltd0.07%
UBE Corp0.07%
Nippon Kayaku Co Ltd0.07%
Ehime Bank Ltd/The0.06%
Aica Kogyo Co Ltd0.06%
Hanwa Co Ltd0.06%
Penta-Ocean Construction Co Ltd0.06%
Lintec Corp0.06%
Tomy Co Ltd0.06%
Fuji Seal Intl Inc0.06%
Pigeon Corp0.06%
Tsubakimoto Chain Co0.06%
Yodogawa Steel Works Ltd0.06%
OSG Corp0.05%
NS United Kaiun Kaisha Ltd0.05%
Pilot Corp0.05%
Anritsu Corp0.05%
Meidensha Corp0.05%
Tokai Rika Co Ltd0.05%
Makino Milling Machine Co Ltd0.05%
Glory Ltd0.05%
Yamabiko Corp0.05%
Mizuno Corp0.05%
Daikyonishikawa Corp0.05%
Max Co Ltd0.05%
FCC Co Ltd0.05%
Kaga Electronics Co Ltd0.05%
Nisshinbo Holdings Inc0.05%
KYB Corp0.04%
Inabata & Co Ltd0.04%
Amano Corp0.04%
Phc Holdings Corp0.04%
Sakata INX Corp0.04%
Nisshin Oillio Group Ltd/The0.04%
ARE Holdings Inc0.04%
Tamron Co Ltd0.04%
Topre Corp0.04%
Artience Co Ltd0.04%
Nippon Shinyaku Co Ltd0.04%
UACJ Corp0.04%
Tachi-S Co0.04%
Kagome Co Ltd0.04%
Ferrotec Holdings Corp0.04%
Taikisha Ltd0.04%

Only in FLJP

200 securities, 24.3% of FLJP by weight

Recruit Holdings Co Ltd2.64%
Kioxia Holdings Corp1.60%
Kddi Corp0.80%
Net Current Assets0.80%
Softbank Corp0.69%
Japan Post Bank Co Ltd0.55%
Resona Holdings Inc0.50%
Kyocera Corp0.44%
Mitsubishi Estate Co Ltd0.42%
Mitsui Fudosan Co Ltd0.41%
Japan Post Holdings Co Lt0.39%
East Japan Railway Co0.39%
Oriental Land Co Ltd0.37%
Central Japan Railway Co0.33%
Aeon Co Ltd0.30%
Nippon Yusen Kk0.30%
Daiwa House Industry Co L0.27%
Secom Co Ltd0.27%
Nomura Research Institute0.26%
Kansai Electric Power Co0.26%
Asahi Group Holdings Ltd0.24%
Shionogi & Co Ltd0.23%
Daiwa Securities Group In0.23%
T&D Holdings Inc0.22%
Japan Exchange Group Inc0.22%
Osaka Gas Co Ltd0.22%
Sumitomo Realty & Develop0.22%
Tokyo Gas Co Ltd0.21%
Sumitomo Metal Mining Co0.20%
Obic Co Ltd0.19%
Chubu Electric Power Co I0.19%
Yokohama Financial Group0.18%
Nidec Corp0.17%
Taisei Corp0.17%
Chiba Bank Ltd/The0.17%
Baycurrent Inc0.16%
Subaru Corp0.15%
Pan Pacific International0.14%
Nitori Holdings Co Ltd0.14%
West Japan Railway Co0.14%
Shizuoka Financial Group0.14%
Mebuki Financial Group In0.14%
Ly Corp0.13%
Fukuoka Financial Group I0.13%
Kawasaki Kisen Kaisha Ltd0.12%
Isetan Mitsukoshi Holding0.11%
Meiji Holdings Co Ltd0.11%
Dai Nippon Printing Co Lt0.11%
Mitsubishi Hc Capital Inc0.11%
Hachijuni Nagano Bank Ltd0.11%

Weight gaps

The 100 widest of 244 Holdings in both funds.

Holding weights in DXJ and FLJP, widest gap first
Holding	More in DXJMore in FLJP	DXJ	FLJP
Toyota Motor Corp	DXJ +1.78 points	5.07%	3.29%
Sumitomo Mitsui Financial Group	DXJ +1.73 points	4.12%	2.39%
Nippon Telegraph & Telephone Corp	DXJ +1.70 points	2.18%	0.48%
Sony Group Corp	FLJP +1.55 points	0.84%	2.39%
Japan Tobacco Inc	DXJ +1.35 points	2.16%	0.81%
MS&AD Insurance Group Holdings Inc	DXJ +0.89 points	1.59%	0.70%
Tokyo Electron Ltd	DXJ +0.89 points	3.03%	2.14%
Honda Motor Co Ltd	DXJ +0.82 points	1.50%	0.68%
Mitsubishi Heavy Industries Ltd	FLJP +0.76 points	0.38%	1.14%
ORIX Corp	DXJ +0.70 points	1.37%	0.67%
Chugai Pharmaceutical Co Ltd	DXJ +0.67 points	1.12%	0.45%
Keyence Corp	FLJP +0.66 points	0.83%	1.49%
Bridgestone Corp	DXJ +0.64 points	1.07%	0.43%
Takeda Pharmaceutical Co Ltd	DXJ +0.63 points	1.72%	1.09%
Denso Corp	DXJ +0.62 points	0.95%	0.33%
Tokio Marine Holdings Inc	DXJ +0.61 points	2.24%	1.63%
Astellas Pharma Inc	DXJ +0.60 points	1.07%	0.47%
Canon Inc	DXJ +0.58 points	0.97%	0.39%
Nintendo Co Ltd	DXJ +0.53 points	1.41%	0.88%
Sompo Holdings Inc	DXJ +0.52 points	1.14%	0.62%
Mitsubishi UFJ Financial Group	DXJ +0.50 points	4.33%	3.83%
Hoya Corp	FLJP +0.44 points	0.46%	0.90%
Murata Manufacturing Co Ltd	FLJP +0.43 points	0.70%	1.13%
Dai-ichi Life Holdings Inc	DXJ +0.43 points	1.06%	0.63%
Softbank Corp	DXJ +0.41 points	2.13%	1.72%
Mitsubishi Electric Corp	FLJP +0.40 points	0.55%	0.95%
Mitsubishi Corp	DXJ +0.40 points	1.95%	1.55%
Panasonic Holdings Corp	FLJP +0.40 points	0.44%	0.84%
Mitsui & Co Ltd	DXJ +0.39 points	1.65%	1.26%
Sumitomo Mitsui Trust Holdings	DXJ +0.37 points	0.79%	0.42%
NEC Corp	FLJP +0.34 points	0.26%	0.60%
Fujikura Ltd	FLJP +0.34 points	0.31%	0.65%
ENEOS Holdings Inc	DXJ +0.33 points	0.71%	0.38%
Inpex Corp	DXJ +0.31 points	0.67%	0.36%
Hitachi Ltd	FLJP +0.28 points	2.01%	2.29%
Ibiden Co Ltd	FLJP +0.25 points	0.17%	0.42%
Nomura Holdings Inc	DXJ +0.25 points	0.69%	0.44%
TDK Corp	FLJP +0.25 points	0.25%	0.50%
Disco Corp	FLJP +0.24 points	0.20%	0.44%
Nippon Steel Corp	DXJ +0.23 points	0.57%	0.34%
Daiichi Sankyo Co Ltd	DXJ +0.24 points	0.74%	0.50%
Sekisui House Ltd	DXJ +0.23 points	0.44%	0.21%
Ajinomoto Co Inc	FLJP +0.21 points	0.28%	0.49%
Fujitsu Ltd	FLJP +0.20 points	0.42%	0.62%
Asics Corp	FLJP +0.20 points	0.13%	0.33%
Shin-Etsu Chemical Co Ltd	FLJP +0.19 points	0.90%	1.09%
Lasertec Corp	FLJP +0.18 points	0.12%	0.30%
Kao Corp	DXJ +0.18 points	0.52%	0.34%
Kirin Holdings Co Ltd	DXJ +0.18 points	0.41%	0.23%
Idemitsu Kosan Co Ltd	DXJ +0.18 points	0.29%	0.11%
Resonac Holdings Corp	FLJP +0.16 points	0.08%	0.24%
Kajima Corp	DXJ +0.16 points	0.36%	0.20%
Seven & I Holdings Co Ltd	DXJ +0.16 points	0.60%	0.44%
Sumitomo Corp	DXJ +0.15 points	0.85%	0.70%
Itochu Corp	DXJ +0.15 points	1.64%	1.49%
Yokohama Rubber Co Ltd	DXJ +0.15 points	0.23%	0.08%
SBI Holdings Inc/Japan	DXJ +0.15 points	0.30%	0.15%
Persol Holdings Co Ltd	DXJ +0.15 points	0.20%	0.05%
Japan Airlines Co Ltd	DXJ +0.14 points	0.19%	0.05%
Isuzu Motors Ltd	DXJ +0.14 points	0.25%	0.11%
IHI Corp	FLJP +0.13 points	0.09%	0.22%
Daikin Industries Ltd	FLJP +0.13 points	0.44%	0.57%
Koei Tecmo Holdings Co Ltd	DXJ +0.13 points	0.15%	0.02%
SMC Corp/Japan	FLJP +0.13 points	0.22%	0.35%
JFE Holdings Inc	DXJ +0.12 points	0.23%	0.11%
Aisin Co Ltd	DXJ +0.13 points	0.23%	0.10%
Toyo Seikan Group Ltd	DXJ +0.12 points	0.17%	0.05%
Terumo Corp	FLJP +0.12 points	0.23%	0.35%
Makita Corp	DXJ +0.12 points	0.25%	0.13%
Otsuka Holdings Co Ltd	FLJP +0.12 points	0.42%	0.54%
Kyowa Kirin Co Ltd	DXJ +0.12 points	0.18%	0.06%
Niterra Co Ltd	DXJ +0.11 points	0.24%	0.13%
Suntory Beverage & Food Ltd	DXJ +0.11 points	0.17%	0.06%
Nexon Co Ltd	DXJ +0.10 points	0.22%	0.12%
SCREEN Holdings Co Ltd	FLJP +0.10 points	0.10%	0.20%
Marubeni Corp	DXJ +0.10 points	0.84%	0.74%
Fanuc Ltd	FLJP +0.10 points	0.44%	0.54%
Kokusai Electric Corp	FLJP +0.09 points	0.07%	0.16%
Hitachi Construction Machinery	DXJ +0.10 points	0.17%	0.07%
Sumitomo Electric Industries Ltd	DXJ +0.10 points	0.64%	0.54%
Furukawa Electric Co Ltd	FLJP +0.09 points	0.10%	0.19%
Yamaha Motor Co Ltd	DXJ +0.09 points	0.25%	0.16%
Ryohin Keikaku Co Ltd	FLJP +0.09 points	0.15%	0.24%
Mizuho Financial Group Inc	DXJ +0.09 points	1.96%	1.87%
Mitsui Osk Lines Ltd	DXJ +0.09 points	0.35%	0.26%
Brother Industries Ltd	DXJ +0.08 points	0.19%	0.11%
Ono Pharmaceutical Co Ltd	DXJ +0.08 points	0.17%	0.09%
Nissan Chemical Corp	DXJ +0.09 points	0.19%	0.10%
Mazda Motor Corp	DXJ +0.08 points	0.15%	0.07%
Eisai Co Ltd	DXJ +0.08 points	0.22%	0.14%
Komatsu Ltd	DXJ +0.08 points	0.64%	0.56%
Food & Life Companies Ltd	FLJP +0.07 points	0.05%	0.12%
Sanwa Holdings Corp	DXJ +0.08 points	0.15%	0.07%
Fast Retailing Co Ltd	FLJP +0.08 points	1.32%	1.40%
AGC Inc	DXJ +0.08 points	0.19%	0.11%
Kobe Steel Ltd	DXJ +0.07 points	0.14%	0.07%
Zensho Holdings Co Ltd	FLJP +0.07 points	0.06%	0.13%
Toyoda Gosei Co Ltd	DXJ +0.07 points	0.11%	0.04%
Nippon Mining Holdings Inc	FLJP +0.06 points	0.11%	0.17%
Renesas Electronics Corp	DXJ +0.06 points	0.54%	0.48%

All 441 DXJ holdings⁠All 507 FLJP 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.

DXJ vs FLJP Cost

Overpaying DXJ vs FLJP

$7,707

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

DXJ 0.48%
$9,605
FLJP 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

DXJ 0.48%
FLJP 0.09%
Overpaying

Year by year

Year	DXJ	FLJP	Overpaying
10	$865	$165	$700
20	$3,328	$646	$2,682
30	$9,605	$1,898	$7,707

Expense ratio

0.48%DXJ
0.09%FLJP, cheaper

FLJP0.09%DXJ0.48%

0.09%1.92%

Middle half of Japan funds
Median 0.54%

FLJP cheapest of 18 funds

DXJ 6th cheapest of 18 funds

DXJ vs FLJP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DXJ No data; FLJP 4.26%
Payout (12M): DXJ No data; FLJP $1.69
Last payment: DXJ $0.03; FLJP $0.17
Ex-dividend: DXJ Sep 25, 2026; FLJP Jun 26, 2026
Paid on: DXJ Sep 29, 2026; FLJP Jul 6, 2026
Frequency: DXJ Quarterly; FLJP Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DXJQuarterly · 26 paymentsAll DXJ payments⁠

FLJPTwice a year · 18 paymentsAll FLJP payments⁠

DXJ vs FLJP Risk

Fall from peak · 5 years

DXJ
FLJP

Risk facts

VolatilityStd dev, 3 years: DXJ 12.4%, betterFLJP 12.5%
Return per unit of riskSharpe ratio, 3 years: DXJ 1.71, betterFLJP 1.17
Worst fallMax drawdown, 5 years: DXJ −22.2%, betterFLJP −28.8%
Market sensitivityBeta, 5 years: DXJ 0.48FLJP 0.96; Market = 1

DXJ and FLJP in the news

All news⁠

Deep Dive
Unhedged Japan rose 2.5% on the yen; Europe funds slipped
Sep 5, 2026DXJFLJP
Deep Dive
Hedged Japan funds rose 0.7% as the yen fell; VGK dropped 1.8%
Sep 20, 2026DXJ
Deep Dive
Unhedged Japan funds rose 0.3% on the yen; VGK fell 1.9% after the ECB hike
Sep 13, 2026DXJ
News
Japan wholesale prices rise 7.6%, confirming a Bank of Japan hike already priced for next week
Sep 11, 2026DXJ

Popular comparisons

DXJBvsBBJPA
WisdomTree Japan Hedged Equity Fund · JPMorgan BetaBuilders Japan ETF
Expense ratio
0.48% · 0.19%
Category
FLJPAvsBBJPA
Franklin FTSE Japan ETF · JPMorgan BetaBuilders Japan ETF
Expense ratio
0.09% · 0.19%
Category
DXJBvsFLJHA
WisdomTree Japan Hedged Equity Fund · Franklin FTSE Japan Hedged ETF
Expense ratio
0.48% · 0.09%
Category
FLJPAvsFLJHA
Franklin FTSE Japan ETF · Franklin FTSE Japan Hedged ETF
Expense ratio
0.09% · 0.09%
Category
DXJBvsSCJA
WisdomTree Japan Hedged Equity Fund · iShares MSCI Japan Small-Cap ETF
Expense ratio
0.48% · 0.50%
Category
FLJPAvsSCJA
Franklin FTSE Japan ETF · iShares MSCI Japan Small-Cap ETF
Expense ratio
0.09% · 0.50%
Category

DXJ vs FLJP

In short

Stated mandate

Why people hold it