FLJH vs JAPN: Grades, Fees and Holdings Compared

Franklin FTSE Japan Hedged ETF

FLJHANYSE Arca

Horizon Kinetics Japan Owner Operator ETF

JAPNFNasdaq

Overlap

0.8%by weight

Expense ratio

FLJH −0.76pt a year

FLJH0.09%JAPN0.85%

Avg volume · 30D

FLJH 8.1×the volume

FLJH34.3KJAPN4.25K

FLJH vs JAPN Performance

Oct 31, 2025 – Oct 30, 2026

+21.9%FLJH−5.8%JAPN

Expense ratio: FLJH 0.09%, better; JAPN 0.85%
Fund size: FLJH $201M; JAPN $25M
1Y total return: FLJH +21.9%, better; JAPN −5.8%
Yield (12M): FLJH 6.20%; JAPN No data
Holdings: FLJH 448; JAPN 37
Avg volume (30D): FLJH 34.3K sh, better; JAPN 4.25K sh
NAV per share: FLJH $44.77; JAPN $25.81
52W range

ETF.net Grade

Pillar letters and Scores for FLJH, JAPN, with each pillar’s weight
Pillar	FLJH	JAPN
Cost30% weight	A97Higher	F18
Mission25% weight	Not scored	D39
Risk15% weight	B62Higher	F13
Tradability15% weight	C52Higher	F19
Holdings10% weight	A74Higher	F23
Durability5% weight	C53Higher	F9

Rank among Japan funds

How we build Categories ›

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

Japan⁠

Category · 18 funds

See all 18 ›

FLJH ranks 3rd and JAPN 18th of 18 funds in the Japan Category.

Rank 1AFLJPFranklin FTSE Japan ETFScore 82
Rank 2ABBJPJPMorgan BetaBuilders Japan ETFScore 80
Rank 3AFLJHFranklin FTSE Japan Hedged ETFScore 75
Rank 3ASCJiShares MSCI Japan Small-Cap ETFScore 75
Rank 17CNBJPNeuberger Berman Japan Equity ETFScore 39
Rank 18FJAPNHorizon Kinetics Japan Owner Operator ETFScore 22

Our read on each fund

ETF.net Research

FLJHAFranklin FTSE Japan Hedged ETF

JAPNFHorizon Kinetics Japan Owner Operator ETF

In short

FLJH Japan stocks with the yen taken out of the equation. FLJH hedges the currency back to dollars for 0.09% a year, the same fee as Franklin's unhedged twin and a fraction of the typical Japan fund.

JAPN No data

Stated mandate

FLJH The Fund seeks to closely track, before fees and expenses, the performance of the FTSE Japan Capped Hedged Index through passive indexing, using replication or representative sampling.

JAPN No data

Why people hold it

FLJH 0.09% a year. Currency hedging usually carries a surcharge; here it costs the same as Franklin's unhedged FLJP and far less than the median Japan fund.
The hedge is the whole point: it aims to strip out yen-dollar moves so what you own is Japanese share prices, not a bet on the currency.
Broad and deliberately un-top-heavy: roughly 500 Japanese companies tracked through a capped index, so no single name can swell into an outsized slice.
Live since 2017 and one of the stronger builds in a crowded Japan peer group of index trackers.

JAPN No data

Worth knowing

FLJH The hedge cuts both ways. When the yen strengthens against the dollar, you give up the tailwind an unhedged Japan fund would capture.
Thinly traded and small next to the Japan heavyweights, so bid-ask spreads can run wider than headline fee comparisons suggest.
Distributions land once or twice a year, not monthly or quarterly, so income arrives in lumps.

JAPN No data

Full FLJH profile⁠

Full JAPN profile⁠

FLJH vs JAPN Holdings

How FLJH and JAPN differ

Overlap by weight

0.8%

Shared holdings make up 35.8% of JAPN and 0.8% of FLJH.

Level by level

Holdings13 in both0.8%
Sector11 Sectors67.4%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in FLJH and JAPN, widest gap first
Sector	More in FLJHMore in JAPN	FLJH	JAPN
Industrials	FLJH +12.9 points	23.4%	10.5%
Technology	JAPN +12.6 points	20.4%	33.0%
Financials	FLJH +11.4 points	18.1%	6.7%
Communication	JAPN +8.6 points	8.5%	17.1%
Consumer Discretionary	JAPN +6.5 points	12.0%	18.5%
Consumer Staples	JAPN +4.8 points	4.0%	8.8%
Health Care	FLJH +3.4 points	5.2%	1.8%
Real Estate	FLJH +2.5 points	2.5%	0.0%
Utilities	FLJH +1.2 points	1.2%	0.0%
Energy	FLJH +0.9 points	0.9%	0.0%
Materials	FLJH +0.3 points	3.9%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in FLJH and JAPN, widest gap first
Country	More in FLJHMore in JAPN	FLJH	JAPN
Japan	Same weight	100.0%	100.0%

Outside the US: FLJH 100% developed, 0% emerging. JAPN 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

FLJH25.1%
JAPN47.1%

Securities held

FLJH444
JAPN36

Asset class

FLJH: Equity
JAPN: Equity

Holdings

Only in FLJH431
In both13
Only in JAPN23

Only in FLJH

431 securities, 98.7% of FLJH by weight

Mitsubishi Ufj Financial3.81%
Toyota Motor Corp3.29%
Recruit Holdings Co Ltd2.63%
Advantest Corp2.58%
Sony Group Corp2.38%
Sumitomo Mitsui Financial2.38%
Hitachi Ltd2.30%
Tokyo Electron Ltd2.14%
Mizuho Financial Group In1.87%
Softbank Group Corp1.72%
Tokio Marine Holdings Inc1.63%
Kioxia Holdings Corp1.59%
Mitsubishi Corp1.54%
Keyence Corp1.49%
Itochu Corp1.49%
Fast Retailing Co Ltd1.39%
Mitsui & Co Ltd1.25%
Mitsubishi Heavy Industri1.13%
Murata Manufacturing Co L1.13%
Shin-Etsu Chemical Co Ltd1.10%
Takeda Pharmaceutical Co1.10%
Mitsubishi Electric Corp0.94%
Hoya Corp0.90%
Nintendo Co Ltd0.87%
Panasonic Holdings Corp0.83%
Japan Tobacco Inc0.81%
Kddi Corp0.80%
Marubeni Corp0.73%
MS&AD Insurance Group Hol0.71%
Sumitomo Corp0.70%
Softbank Corp0.69%
Honda Motor Co Ltd0.68%
Orix Corp0.66%
Fujikura Ltd0.65%
Daiichi Life Group Inc0.64%
Sompo Holdings Inc0.62%
Fujitsu Limited0.62%
Nec Corp0.62%
Daikin Industries Ltd0.57%
Komatsu Ltd0.56%
Japan Post Bank Co Ltd0.56%
Fanuc Corp0.55%
Sumitomo Electric Industr0.54%
Otsuka Holdings Co Ltd0.54%
Resona Holdings Inc0.51%
Daiichi Sankyo Co Ltd0.50%
Tdk Corp0.50%
Ajinomoto Co Inc0.49%
Renesas Electronics Corp0.49%
Toyota Tsusho Corp0.48%

Only in JAPN

23 securities, 63.7% of JAPN by weight

Furuno Electric Co Ltd10.76%
M&A Capital Partners Co Ltd4.84%
Furyu Corp4.19%
Finatext Holdings Ltd4.13%
Japan Elevator Service Holdings Co Ltd3.92%
ULS Group Inc3.73%
KeePer Technical Laboratory Co Ltd3.64%
Tsuburaya Fields Holdings Inc3.61%
Oro Co Ltd2.91%
Yonex Co Ltd2.57%
AlphaPolis Co Ltd2.26%
Transaction Co Ltd2.18%
Starts Publishing Corp2.02%
IG Port Inc2.00%
Us Bank Mmda - Usbgfs 7 06/01/20311.83%
Ceres Inc/Japan1.50%
Net Protections Holdings Inc1.46%
Tomy Co Ltd1.45%
Towa Corp1.41%
Smaregi Inc1.24%
U-Next Holdings Co Ltd1.07%
Digital Garage Inc0.92%
Japanese Yen<0.01%

Weight gaps

All 13 Holdings in both funds, largest gap first.

Holding weights in FLJH and JAPN, widest gap first
Holding	More in FLJHMore in JAPN	FLJH	JAPN
Resorttrust Inc	JAPN +4.16 points	0.03%	4.19%
Obic Business Consultants	JAPN +3.88 points	0.03%	3.91%
Visional Inc	JAPN +3.74 points	0.02%	3.76%
Hikari Tsushin Inc	JAPN +3.61 points	0.06%	3.67%
Internet Initiative Japan	JAPN +3.44 points	0.05%	3.49%
Kotobuki Spirits Co Ltd	JAPN +3.41 points	0.04%	3.45%
Sega Sammy Holdings Inc	JAPN +2.88 points	0.05%	2.93%
Pan Pacific International	JAPN +2.75 points	0.15%	2.90%
Macnica Holdings Inc	JAPN +1.85 points	0.05%	1.90%
M3 Inc	JAPN +1.73 points	0.08%	1.81%
Sanrio Co Ltd	JAPN +1.72 points	0.13%	1.85%
Sysmex Corp	JAPN +0.95 points	0.08%	1.03%
Rorze Corp	JAPN +0.86 points	0.04%	0.90%

All 490 FLJH holdings⁠All JAPN 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.

FLJH vs JAPN Cost

Overpaying JAPN vs FLJH

$14,301

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

FLJH 0.09%
$1,898
JAPN 0.85%
$16,199

Amount$10,000

Years30 years

Cost over time

FLJH 0.09%
JAPN 0.85%
Overpaying

Year by year

Year	FLJH	JAPN	Overpaying
10	$165	$1,508	$1,343
20	$646	$5,706	$5,060
30	$1,898	$16,199	$14,301

Expense ratio

0.09%FLJH, cheaper
0.85%JAPN

FLJH0.09%JAPN0.85%

0.09%1.92%

Middle half of Japan funds
Median 0.54%

FLJH cheapest of 18 funds

JAPN 15th cheapest of 18 funds

FLJH vs JAPN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLJH 6.20%; JAPN No data
Payout (12M): FLJH $2.74; JAPN No data
Last payment: FLJH $0.29; JAPN $0.06
Ex-dividend: FLJH Jun 26, 2026; JAPN Dec 23, 2025
Paid on: FLJH Jul 6, 2026; JAPN Dec 24, 2025
Frequency: FLJH Twice a year; JAPN Irregular

Distribution history

Per share, 2017 to 2026, same scale for both

FLJHTwice a year · 13 paymentsAll FLJH payments⁠

JAPNIrregular · 1 paymentAll JAPN payments⁠

FLJH vs JAPN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FLJH 12.5%JAPN 16.1%since Jun 2025
Return per unit of riskSharpe ratio, 3 years: FLJH 1.59JAPN −0.30since Jun 2025
Worst fallMax drawdown, 5 years: FLJH −20.4%JAPN −24.0%since May 2025
Market sensitivityBeta, 5 years: FLJH 0.62JAPN 0.46; Market = 1

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