FJP vs FLJP: Grades, Fees and Holdings Compared

First Trust Japan AlphaDEX Fund

FJPCNasdaq

Franklin FTSE Japan ETF

FLJPANYSE Arca

Overlap

23.4%by weight

Expense ratio

FLJP −0.71pt a year

FJP0.80%FLJP0.09%

Avg volume · 30D

FLJP 67.0×the volume

FJP14.6KFLJP976K

5Y return · a year

FJP +1.0pt

FJP+10.2%FLJP+9.2%

FJP vs FLJP Performance

Oct 29, 2021 – Oct 30, 2026

+62.6%FJP+55.0%FLJP

Expense ratio: FJP 0.80%; FLJP 0.09%, better
Fund size: FJP $263M; FLJP $4.27B
1Y total return: FJP +12.6%; FLJP +16.4%, better
Yield (12M): FJP 2.66%; FLJP 4.26%, better
Holdings: FJP 102; FLJP 447
Avg volume (30D): FJP 14.6K sh; FLJP 976K sh, better
NAV per share: FJP $73.08; FLJP $39.98
52W range

ETF.net Grade

Pillar letters and Scores for FJP, FLJP, with each pillar’s weight
Pillar	FJP	FLJP
Cost30% weight	D26	A97Higher
Mission25% weight	A96	A100Higher
Risk15% weight	F18	C48Higher
Tradability15% weight	D31	A71Higher
Holdings10% weight	B69	A74Higher
Durability5% weight	A71Higher	B61

Rank among Japan funds

How we build Categories ›

Same Category. FJP 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 FJP 12th of 18 funds in the Japan Category.

Rank 1AFLJPFranklin FTSE Japan ETFScore 82
Rank 2ABBJPJPMorgan BetaBuilders Japan ETFScore 80
Rank 11BOPPJWisdomTree Japan Opportunities FundScore 57
Rank 12CFJPFirst Trust Japan AlphaDEX FundScore 49
Rank 12CJPYLazard Japanese Equity ETFScore 49

Our read on each fund

ETF.net Research

FJPCFirst Trust Japan AlphaDEX Fund

FLJPAFranklin FTSE Japan ETF

In short

FJP Most 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.

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

FJP The Fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX® JapanTM Index.

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

Why people hold it

FJP 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.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.

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

FJP 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.nasdaqomx.com

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 FJP profile⁠

Full FLJP profile⁠

FJP vs FLJP Holdings

How FJP and FLJP differ

Overlap by weight

23.4%

Shared holdings make up 99.6% of FJP and 29.8% of FLJP.

Level by level

Holdings100 in both23.4%
Sector11 Sectors70.7%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in FJP and FLJP, widest gap first
Sector	More in FJPMore in FLJP	FJP	FLJP
Industrials	FJP +11.1 points	34.6%	23.5%
Technology	FLJP +8.5 points	11.9%	20.4%
Communication	FLJP +7.7 points	0.8%	8.5%
Financials	FLJP +7.3 points	10.8%	18.1%
Consumer Discretionary	FJP +6.9 points	18.8%	11.9%
Utilities	FJP +4.5 points	5.7%	1.2%
Energy	FJP +4.0 points	4.9%	0.9%
Health Care	FLJP +3.6 points	1.6%	5.2%
Materials	FJP +3.0 points	6.8%	3.8%
Consumer Staples	FLJP +2.1 points	1.9%	4.0%
Real Estate	Same weight	2.5%	2.5%

Country, concentration and asset class

Country by domicile

Country weights in FJP and FLJP, widest gap first
Country	More in FJPMore in FLJP	FJP	FLJP
Japan	Same weight	100.0%	100.0%

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

Concentration

Weight in the 10 largest Holdings

FJP21.6%
FLJP25.1%

Securities held

FJP100
FLJP444

Asset class

FJP: Equity
FLJP: Equity

Holdings

Only in FJP0
In both100
Only in FLJP344

Only in FJP

0 securities, 0.0% of FJP by weight

Only in FLJP

344 securities, 70.2% of FLJP by weight

Mitsubishi Ufj Financial3.83%
Recruit Holdings Co Ltd2.64%
Sony Group Corp2.39%
Sumitomo Mitsui Financial2.39%
Hitachi Ltd2.29%
Tokyo Electron Ltd2.14%
Mizuho Financial Group In1.87%
Tokio Marine Holdings Inc1.63%
Mitsubishi Corp1.55%
Keyence Corp1.49%
Itochu Corp1.49%
Fast Retailing Co Ltd1.40%
Mitsui & Co Ltd1.26%
Mitsubishi Heavy Industri1.14%
Takeda Pharmaceutical Co1.09%
Shin-Etsu Chemical Co Ltd1.09%
Mitsubishi Electric Corp0.95%
Hoya Corp0.90%
Nintendo Co Ltd0.88%
Japan Tobacco Inc0.81%
Kddi Corp0.80%
Net Current Assets0.80%
Marubeni Corp0.74%
Sumitomo Corp0.70%
MS&AD Insurance Group Hol0.70%
Softbank Corp0.69%
Honda Motor Co Ltd0.68%
Fujitsu Limited0.62%
Sompo Holdings Inc0.62%
Nec Corp0.60%
Daikin Industries Ltd0.57%
Komatsu Ltd0.56%
Fanuc Corp0.54%
Otsuka Holdings Co Ltd0.54%
Daiichi Sankyo Co Ltd0.50%
Resona Holdings Inc0.50%
Ajinomoto Co Inc0.49%
Ntt Inc0.48%
Chugai Pharmaceutical Co0.45%
Nomura Holdings Inc0.44%
Seven & I Holdings Co Ltd0.44%
Disco Corp0.44%
Mitsubishi Estate Co Ltd0.42%
Sumitomo Mitsui Trust Gro0.42%
Mitsui Fudosan Co Ltd0.41%
Canon Inc0.39%
East Japan Railway Co0.39%
Oriental Land Co Ltd0.37%
Bandai Namco Holdings Inc0.36%
Smc Corp0.35%

Weight gaps

All 100 Holdings in both funds, largest gap first.

Holding weights in FJP and FLJP, widest gap first
Holding	More in FJPMore in FLJP	FJP	FLJP
Kawasaki Kisen Kaisha, Ltd.	FJP +2.40 points	2.52%	0.12%
Mitsui O.S.K. Lines, Ltd.	FJP +2.37 points	2.63%	0.26%
Nippon Yusen K.K.	FJP +2.28 points	2.58%	0.30%
Toyota Motor Corporation	FLJP +2.08 points	1.21%	3.29%
Japan Airlines Co., Ltd.	FJP +1.88 points	1.93%	0.05%
INPEX Corporation	FJP +1.87 points	2.23%	0.36%
The Kansai Electric Power Company, Incorporated	FJP +1.78 points	2.04%	0.26%
Idemitsu Kosan Co., Ltd.	FJP +1.70 points	1.81%	0.11%
Tokyo Gas Co., Ltd.	FJP +1.69 points	1.90%	0.21%
Central Japan Railway Company	FJP +1.70 points	2.03%	0.33%
Brother Industries, Ltd.	FJP +1.68 points	1.79%	0.11%
Aisin Corporation	FJP +1.59 points	1.69%	0.10%
Nippon Express Holdings Co., Ltd.	FJP +1.54 points	1.68%	0.14%
Suzuki Motor Corporation	FJP +1.52 points	1.90%	0.38%
ANA Holdings Inc.	FJP +1.41 points	1.46%	0.05%
MISUMI Group Inc.	FJP +1.29 points	1.39%	0.10%
Ricoh Company, Ltd.	FJP +1.27 points	1.37%	0.10%
Sumitomo Forestry Co., Ltd.	FJP +1.26 points	1.32%	0.06%
Sekisui House, Ltd.	FJP +1.25 points	1.46%	0.21%
Isuzu Motors Ltd.	FJP +1.25 points	1.35%	0.11%
Bridgestone Corporation	FJP +1.23 points	1.66%	0.43%
Fuji Corporation	FJP +1.20 points	1.25%	0.05%
Daiwa House Industry Co., Ltd.	FJP +1.20 points	1.47%	0.27%
Daiichi Life Group, Inc.	FJP +1.16 points	1.79%	0.63%
The Yokohama Rubber Company, Ltd.	FJP +1.14 points	1.22%	0.08%
Hokuhoku Financial Group, Inc.	FJP +1.11 points	1.19%	0.08%
JFE Holdings, Inc.	FJP +1.10 points	1.21%	0.11%
Amada Co., Ltd.	FJP +1.08 points	1.15%	0.07%
West Japan Railway Company	FJP +1.08 points	1.22%	0.14%
DENSO Corporation	FJP +1.07 points	1.40%	0.33%
Advantest Corporation	FLJP +1.06 points	1.52%	2.58%
Subaru Corporation	FJP +1.04 points	1.19%	0.15%
Minebea Mitsumi Inc.	FJP +1.03 points	1.15%	0.12%
JX Advanced Metals Corporation	FJP +1.01 points	1.18%	0.17%
NGK Corp.	FJP +0.96 points	1.08%	0.12%
SoftBank Group Corp.	FLJP +0.94 points	0.78%	1.72%
Sumitomo Metal Mining Co., Ltd.	FJP +0.93 points	1.13%	0.20%
Meiko Electronics Co., Ltd.	FJP +0.92 points	0.95%	0.03%
Shionogi & Co., Ltd.	FJP +0.92 points	1.15%	0.23%
Dai Nippon Printing Co., Ltd.	FJP +0.91 points	1.02%	0.11%
Asahi Group Holdings, Ltd.	FJP +0.90 points	1.14%	0.24%
Tokyo Ohka Kogyo Co., Ltd.	FJP +0.91 points	0.99%	0.08%
Kioxia Holdings Corporation	FLJP +0.88 points	0.72%	1.60%
T&D Holdings, Inc.	FJP +0.86 points	1.08%	0.22%
Furukawa Electric Co., Ltd.	FJP +0.83 points	1.02%	0.19%
TDK Corporation	FJP +0.81 points	1.31%	0.50%
Niterra Co. Ltd.	FJP +0.78 points	0.91%	0.13%
Horiba, Ltd.	FJP +0.76 points	0.84%	0.08%
NHK Spring Co., Ltd.	FJP +0.74 points	0.79%	0.05%
Murata Manufacturing Co. Ltd.	FLJP +0.74 points	0.39%	1.13%
Sumitomo Chemical Co., Ltd.	FJP +0.69 points	0.78%	0.09%
Suntory Beverage & Food Limited	FJP +0.69 points	0.75%	0.06%
Chubu Electric Power Company, Incorporated	FJP +0.68 points	0.87%	0.19%
ORIX Corporation	FJP +0.67 points	1.34%	0.67%
Ebara Corporation	FJP +0.67 points	0.84%	0.17%
ARCHION Corporation	FJP +0.65 points	0.68%	0.03%
Mebuki Financial Group Inc.	FJP +0.61 points	0.75%	0.14%
SBI Holdings, Inc.	FJP +0.62 points	0.77%	0.15%
Hachijuni Nagano Bank Ltd.	FJP +0.61 points	0.72%	0.11%
TOTO Ltd.	FJP +0.62 points	0.71%	0.09%
Sekisui Chemical Co., Ltd.	FJP +0.61 points	0.71%	0.10%
Mitsubishi HC Capital Inc.	FJP +0.60 points	0.71%	0.11%
Daifuku Co., Ltd.	FJP +0.59 points	0.77%	0.18%
Open House Group Co., Ltd.	FJP +0.59 points	0.65%	0.06%
Kyocera Corporation	FJP +0.58 points	1.02%	0.44%
Rohm Co. Ltd.	FJP +0.59 points	0.70%	0.11%
Nissan Chemical Industries, Ltd.	FJP +0.55 points	0.65%	0.10%
Osaka Gas Co., Ltd.	FJP +0.55 points	0.77%	0.22%
Ibiden Co., Ltd.	FJP +0.54 points	0.96%	0.42%
Sumitomo Electric Industries, Ltd.	FJP +0.52 points	1.06%	0.54%
Hirose Electric Co., Ltd.	FJP +0.51 points	0.57%	0.06%
ENEOS Holdings, Inc.	FJP +0.47 points	0.85%	0.38%
Tokyo Seimitsu Co., Ltd.	FJP +0.47 points	0.53%	0.06%
AGC Inc.	FJP +0.44 points	0.55%	0.11%
Kandenko Co., Ltd.	FJP +0.42 points	0.48%	0.06%
Japan Post Holdings Co., Ltd.	FJP +0.39 points	0.78%	0.39%
Mitsui Kinzoku Company, Ltd.	FJP +0.39 points	0.50%	0.11%
Nitori Holdings Co., Ltd.	FJP +0.36 points	0.50%	0.14%
Seiko Epson Corporation	FJP +0.34 points	0.43%	0.09%
Hikari Tsushin, Inc.	FJP +0.33 points	0.40%	0.07%
Tokyo Century Corporation	FJP +0.33 points	0.36%	0.03%
Renesas Electronics Corporation	FLJP +0.27 points	0.21%	0.48%
Tokyu Fudosan Holdings Corporation	FJP +0.27 points	0.34%	0.07%
Tokyu Corporation	FJP +0.26 points	0.34%	0.08%
Panasonic Holdings Corporation	FLJP +0.25 points	0.58%	0.84%
Sojitz Corporation	FJP +0.24 points	0.35%	0.11%
Fukuoka Financial Group, Inc.	FJP +0.23 points	0.36%	0.13%
Fujikura Ltd.	FJP +0.22 points	0.87%	0.65%
The Chiba Bank, Ltd.	FJP +0.19 points	0.36%	0.17%
Yokohama Financial Group Inc.	FJP +0.16 points	0.34%	0.18%
Fuji Electric Co., Ltd.	FJP +0.15 points	0.33%	0.18%
Japan Post Bank Company, Ltd.	FJP +0.15 points	0.70%	0.55%
SUMCO Corporation	FJP +0.12 points	0.20%	0.08%
Asahi Kasei Corporation	FJP +0.11 points	0.32%	0.21%
Nippon Steel Corporation	FJP +0.09 points	0.43%	0.34%
FUJIFILM Holdings Corporation	FLJP +0.07 points	0.36%	0.43%
Toyota Tsusho Corporation	FLJP +0.07 points	0.40%	0.47%
Astellas Pharma Inc.	FLJP +0.05 points	0.42%	0.47%
Taiyo Yuden Co., Ltd.	FJP +0.04 points	0.15%	0.11%
Showa Denko K.K.	FJP +0.02 points	0.26%	0.24%

All 100 FJP 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.

FJP vs FLJP Cost

Overpaying FJP vs FLJP

$13,448

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

FJP 0.80%
$15,346
FLJP 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

FJP 0.80%
FLJP 0.09%
Overpaying

Year by year

Year	FJP	FLJP	Overpaying
10	$1,422	$165	$1,257
20	$5,393	$646	$4,747
30	$15,346	$1,898	$13,448

Expense ratio

0.80%FJP
0.09%FLJP, cheaper

FLJP0.09%FJP0.80%

0.09%1.92%

Middle half of Japan funds
Median 0.54%

FLJP cheapest of 18 funds

FJP 14th cheapest of 18 funds

FJP vs FLJP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FJP 2.66%; FLJP 4.26%, better
Payout (12M): FJP $1.93; FLJP $1.69
Last payment: FJP $0.48; FLJP $0.17
Ex-dividend: FJP Jun 25, 2026; FLJP Jun 26, 2026
Paid on: FJP Jun 30, 2026; FLJP Jul 6, 2026
Frequency: FJP Quarterly; FLJP Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FJPQuarterly · 24 paymentsAll FJP payments⁠

FLJPTwice a year · 18 paymentsAll FLJP payments⁠

FJP vs FLJP Risk

Fall from peak · 5 years

FJP
FLJP

Risk facts

VolatilityStd dev, 3 years: FJP 15.2%FLJP 12.5%, better
Return per unit of riskSharpe ratio, 3 years: FJP 0.89FLJP 1.17, better
Worst fallMax drawdown, 5 years: FJP −26.8%, betterFLJP −28.8%
Market sensitivityBeta, 5 years: FJP 0.83FLJP 0.96; Market = 1

FJP and FLJP in the news

All news⁠

Deep Dive
Unhedged Japan rose 2.5% on the yen; Europe funds slipped
Sep 5, 2026FLJP

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FJP vs FLJP

In short

Stated mandate

Why people hold it

Worth knowing

How FJP and FLJP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FJP

Only in FLJP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Unhedged Japan rose 2.5% on the yen; Europe funds slipped

How FJP and FLJP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FJP

Only in FLJP

Weight gaps