FLJP vs JPAN: Grades, Fees and Holdings Compared

Franklin FTSE Japan ETF

FLJPANYSE Arca

Matthews Japan Active ETF JPAN

JPANCNYSE Arca

Overlap

37.8%by weight

Expense ratio

FLJP −0.70pt a year

FLJP0.09%JPAN0.79%

Avg volume · 30D

FLJP 670.4×the volume

FLJP973KJPAN1.45K

3Y return · a year

JPAN +3.5pt

FLJP+18.8%JPAN+22.3%

FLJP vs JPAN Performance

Nov 7, 2025 – Nov 9, 2026

+14.9%FLJP+15.4%JPAN

Expense ratio: FLJP 0.09%, better; JPAN 0.79%
Fund size: FLJP $3.97B; JPAN $11M
1Y total return: FLJP +14.9%; JPAN +15.4%, better
Yield (12M): FLJP 4.32%; JPAN 4.45%, better
Holdings: FLJP 447; JPAN 52
Avg volume (30D): FLJP 973K sh, better; JPAN 1.45K sh
NAV per share: FLJP $37.13; JPAN $38.73
52W range

ETF.net Grade

Pillar letters and Scores for FLJP, JPAN, with each pillar’s weight
Pillar	FLJP	JPAN
Cost30% weight	A97Higher	D26
Mission25% weight	A100	A100
Risk15% weight	C47Higher	C44
Tradability15% weight	A77Higher	F7
Holdings10% weight	A73Higher	D35
Durability5% weight	B61Higher	D26

Rank among Japan funds

How we build Categories ›

Same Category. FLJP and JPAN 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 JPAN 14th of 18 funds in the Japan Category.

Rank 1AFLJPFranklin FTSE Japan ETFScore 83
Rank 2ABBJPJPMorgan BetaBuilders Japan ETFScore 81
Rank 12CJPYLazard Japanese Equity ETFScore 49
Rank 14CJPANMatthews Japan Active ETF JPANScore 45
Rank 15CMJSCMUFG Japan Small Cap Active ETFScore 44

Our read on each fund

ETF.net Research

FLJPAFranklin FTSE Japan ETF

JPANCMatthews Japan Active ETF JPAN

In short

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.

JPAN The Japan aisle is stacked with cheap index trackers. JPAN is the other thing: an active, stock-picked Japan portfolio from an Asia-only shop, launched in 2023 and priced like the research effort it is.

Stated mandate

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

JPAN The fund seeks long-term capital appreciation.

Why people hold it

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%.

JPAN Actively managed by Matthews, a firm built around Asia, with one stated job: long-term capital appreciation from Japanese equities.
The portfolio stays inside the Japan mandate on the label, with no drift into the wider Asia-Pacific region.
Standard 1940 Act fund structure: no leverage, no commodity-pool plumbing, no derivative overlay to decode.

Worth knowing

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.

JPAN At 0.79% a year it sits well above the typical Japan ETF, where index rivals like FLJP (0.09%) and BBJP (0.19%) set the floor.
A small, thinly traded fund, so spreads can run wider than the giant index names in the same aisle.
Launched in 2023, so the record is short, and cash comes back once or twice a year rather than quarterly.

Full FLJP profile⁠

Full JPAN profile⁠

FLJP vs JPAN Holdings

How FLJP and JPAN differ

Overlap by weight

37.8%

Shared holdings make up 91.7% of JPAN and 39.9% of FLJP.

Level by level

Holdings45 in both37.8%
Sector11 Sectors93.7%
Asset classStocks100%
Countryby domicile100%

Sector

Sector weights in FLJP and JPAN, widest gap first
Sector	Gap	FLJP	JPAN
Financials	JPAN +3.2 points	17.7%	20.9%
Technology	JPAN +2.2 points	19.1%	21.3%
Materials	FLJP +1.8 points	3.8%	1.9%
Utilities	FLJP +1.2 points	1.2%	0.0%
Health Care	FLJP +1.0 points	5.8%	4.8%
Energy	FLJP +0.9 points	0.9%	0.0%
Consumer Discretionary	JPAN +0.7 points	12.7%	13.4%
Communication	FLJP +0.5 points	8.4%	7.9%
Real Estate	FLJP +0.5 points	2.7%	2.2%
Consumer Staples	FLJP +0.2 points	4.3%	4.0%
Industrials	JPAN +0.2 points	23.3%	23.5%

Country, concentration and asset class

Country by domicile

Country weights in FLJP and JPAN, widest gap first
Country	More in FLJPMore in JPAN	Gap	FLJP	JPAN
Japan		Same weight	100.0%	100.0%

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

Concentration

Weight in the 10 largest Holdings

FLJP25.2%
JPAN39.1%

Securities held

FLJP444
JPAN51

Asset class

FLJP: Stocks
JPAN: Stocks

Holdings

Only in FLJP399
In both45
Only in JPAN6

Only in FLJP

399 securities, 60.1% of FLJP by weight

Toyota Motor Corp3.84%
Itochu Corp1.54%
Mitsui & Co Ltd1.25%
Mitsubishi Heavy Industri1.04%
Mitsubishi Electric Corp0.98%
Nintendo Co Ltd0.93%
Kddi Corp0.86%
Net Current Assets0.85%
Hoya Corp0.83%
Marubeni Corp0.76%
Panasonic Holdings Corp0.76%
Japan Tobacco Inc0.75%
Honda Motor Co Ltd0.74%
Softbank Corp0.74%
Daiichi Life Group Inc0.64%
Daikin Industries Ltd0.63%
Sompo Holdings Inc0.63%
Fujitsu Limited0.59%
Japan Post Bank Co Ltd0.57%
Komatsu Ltd0.56%
Otsuka Holdings Co Ltd0.56%
Fanuc Corp0.54%
Daiichi Sankyo Co Ltd0.54%
Fujikura Ltd0.53%
Resona Holdings Inc0.50%
Astellas Pharma Inc0.48%
Chugai Pharmaceutical Co0.48%
Seven & I Holdings Co Ltd0.48%
Ntt Inc0.48%
Bridgestone Corp0.48%
Mitsui Fudosan Co Ltd0.45%
Sumitomo Electric Industr0.44%
Renesas Electronics Corp0.44%
Tdk Corp0.44%
Suzuki Motor Corp0.43%
Fujifilm Holdings Corp0.43%
Sumitomo Mitsui Trust Gro0.43%
Oriental Land Co Ltd0.41%
Canon Inc0.41%
Bandai Namco Holdings Inc0.40%
Japan Post Holdings Co Lt0.40%
Disco Corp0.39%
Kyocera Corp0.38%
Central Japan Railway Co0.38%
Nippon Steel Corp0.36%
Denso Corp0.35%
Eneos Holdings Inc0.33%
Ibiden Co Ltd0.33%
Aeon Co Ltd0.33%
Smc Corp0.33%

Only in JPAN

6 securities, 4.9% of JPAN by weight

Panasonic Holdings Corp.1.93%
Go, Inc.0.88%
Japan Steel Works, Ltd.0.78%
Ns Group, Inc.0.60%
Timee, Inc.0.45%
Itoki Corp.0.26%

Weight gaps

All 45 Holdings in both funds, largest gap first.

Holding weights in FLJP and JPAN, widest gap first
Holding	Gap	FLJP	JPAN
Recruit Holdings Co Ltd	JPAN +2.34 points	2.51%	4.85%
Tokio Marine Holdings Inc	JPAN +2.32 points	1.72%	4.04%
Misumi Group Inc	JPAN +2.20 points	0.10%	2.30%
Asics Corp	JPAN +2.19 points	0.36%	2.55%
Sony Group Corp	JPAN +2.08 points	2.68%	4.76%
Nec Corp	JPAN +2.06 points	0.58%	2.64%
MS&AD Insurance Group Hol	JPAN +1.97 points	0.70%	2.67%
Konami Group Corp	JPAN +1.95 points	0.28%	2.23%
Sumitomo Corp	JPAN +1.92 points	0.71%	2.63%
East Japan Railway Co	JPAN +1.87 points	0.43%	2.30%
Kao Corp	JPAN +1.76 points	0.37%	2.13%
Yokohama Rubber Co Ltd	JPAN +1.76 points	0.10%	1.86%
Mizuho Financial Group In	JPAN +1.75 points	1.86%	3.61%
Ryohin Keikaku Co Ltd	JPAN +1.70 points	0.26%	1.96%
Niterra Co Ltd	JPAN +1.65 points	0.14%	1.79%
Mitsubishi Estate Co Ltd	JPAN +1.63 points	0.47%	2.10%
Mitsubishi Corp	JPAN +1.55 points	1.72%	3.27%
Kawasaki Heavy Industries	JPAN +1.52 points	0.17%	1.69%
Hitachi Ltd	JPAN +1.46 points	2.19%	3.65%
Toyota Tsusho Corp	JPAN +1.38 points	0.46%	1.84%
Advantest Corp	JPAN +1.36 points	2.23%	3.59%
Shionogi & Co Ltd	JPAN +1.33 points	0.25%	1.58%
Sumitomo Mitsui Financial	JPAN +1.23 points	2.38%	3.61%
Yamaha Motor Co Ltd	JPAN +1.20 points	0.16%	1.36%
Food & Life Companies Ltd	JPAN +1.10 points	0.12%	1.22%
Infroneer Holdings Inc	JPAN +1.05 points	0.04%	1.09%
Terumo Corp	JPAN +1.02 points	0.39%	1.41%
Keyence Corp	JPAN +1.01 points	1.43%	2.44%
Softbank Group Corp	FLJP +1.00 points	1.46%	0.46%
Isuzu Motors Ltd	JPAN +0.98 points	0.12%	1.10%
Resonac Holdings Corp	JPAN +0.96 points	0.21%	1.17%
Archion Corp	JPAN +0.85 points	0.04%	0.89%
Ajinomoto Co Inc	JPAN +0.83 points	0.44%	1.27%
Kinden Corp	JPAN +0.78 points	0.06%	0.84%
Takeda Pharmaceutical Co	JPAN +0.69 points	1.15%	1.84%
Fast Retailing Co Ltd	FLJP +0.64 points	1.55%	0.91%
Orix Corp	JPAN +0.57 points	0.66%	1.23%
Rohto Pharmaceutical Co L	JPAN +0.44 points	0.06%	0.50%
Mitsubishi Ufj Financial	JPAN +0.39 points	3.84%	4.23%
Shin-Etsu Chemical Co Ltd	FLJP +0.33 points	1.04%	0.71%
Socionext Inc	JPAN +0.32 points	0.03%	0.35%
Nomura Holdings Inc	JPAN +0.30 points	0.46%	0.76%
Kioxia Holdings Corp	JPAN +0.30 points	1.09%	1.39%
Murata Manufacturing Co L	FLJP +0.10 points	0.93%	0.83%
Tokyo Electron Ltd	JPAN +0.03 points	1.99%	2.02%

All 507 FLJP holdings⁠All JPAN 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.

FLJP vs JPAN Cost

Overpaying JPAN vs FLJP

$13,276

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

FLJP 0.09%
$1,898
JPAN 0.79%
$15,174

Amount$10,000

Years30 years

Cost over time

FLJP 0.09%
JPAN 0.79%
Overpaying

Year by year

Year	FLJP	JPAN	Overpaying
10	$165	$1,405	$1,240
20	$646	$5,331	$4,685
30	$1,898	$15,174	$13,276

Expense ratio

0.09%FLJP, cheaper
0.79%JPAN

FLJP0.09%JPAN0.79%

0.09%1.92%

Middle half of Japan funds
Median 0.54%

FLJP cheapest of 18 funds

JPAN 13th cheapest of 18 funds

FLJP vs JPAN Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FLJP 4.32%; JPAN 4.45%, better
Payout (12M): FLJP $1.69; JPAN $1.83
Last payment: FLJP $0.17; JPAN $1.83
Ex-dividend: FLJP Jun 26, 2026; JPAN Dec 17, 2025
Paid on: FLJP Jul 6, 2026; JPAN Dec 22, 2025
Frequency: FLJP Twice a year; JPAN Annual

Distribution history

Per share, 2017 to 2026, same scale for both

FLJPTwice a year · 18 paymentsAll FLJP payments⁠

JPANAnnual · 3 paymentsAll JPAN payments⁠

FLJP vs JPAN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FLJP 12.5%, betterJPAN 14.7%
Return per unit of riskSharpe ratio, 3 years: FLJP 1.17JPAN 1.20, better
Worst fallMax drawdown, 5 years: FLJP −28.4%JPAN −15.2%since Sep 2023
Market sensitivityBeta, 5 years: FLJP 0.98JPAN 0.86; Market = 1

FLJP and JPAN 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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