FLJP vs JPY

FLJPAFranklin FTSE Japan ETF

JPYCLazard Japanese Equity ETF

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.

JPY Most Japan ETFs just buy the index. JPY hands the stock picking to Lazard's Japan team, which has run the strategy for decades, and holds a concentrated, non-diversified slice of the market instead.

Stated mandate

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

JPY The Portfolio 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%.

• JPY Active, not index-tracking: a local, bilingual Lazard team chooses the names, a rarity in a category where the biggest funds simply replicate a Japan benchmark.lazardassetmanagement.com
• The prospectus commits at least 80% of net assets to equities traded on Japanese markets, and the portfolio has stayed tightly inside that Japan-only lane.yahoo.com
• Launched in 2025 as one of Lazard's first US active ETFs, putting a long-running institutional Japan strategy into an exchange-traded wrapper.lazard.com

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.

• JPY Costs 0.60% a year, above the typical Japan fund and well above index trackers like FLJP and FLJH at 0.09%. Research is what the premium buys.
• A 2025 launch, modest in size and thinly traded, so spreads can run wider than at the giant Japan trackers and there is little history to judge.
• Non-diversified and concentrated: a handful of names drive results, which can land far from the broad Japan market in either direction.yahoo.com

Full FLJP profile⁠

Full JPY profile⁠