FLJP vs MJSC

FLJPAFranklin FTSE Japan ETF

MJSCCMUFG Japan Small Cap Active 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.

MJSC MUFG's first US-listed ETF: an active Tokyo stock-picking desk digging through Japanese small caps, roughly 100 names deep, in a category otherwise run by index trackers.

Stated mandate

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

MJSC 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%.

• MJSC Active where the category is mostly passive: a quantitative screen on market cap and credit risk, then growth, quality and value work, rather than cloning a small-cap index.mufgetfs.com
• Japanese plumbing, not a Japan sleeve bolted onto a US shop. Mitsubishi UFJ Trust and Banking sub-advises alongside Clearbrook, so the research sits near the companies.mufgetfs.cometfexpress.com
• The portfolio matches what the prospectus promises: Japanese small-cap equities aimed at long-term capital appreciation, spread across about 100 names.

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.

• MJSC Active Japan costs: 1.01% net of a waiver through December 31, 2027 (1.68% gross), above the category's typical fee. Index peers SCJ (0.50%) and FLJP (0.09%) charge far less.
• A small fund that trades lightly, which can mean wider spreads and larger premiums or discounts than the category's big index names.
• Launched in 2025, so there is little track record to judge, and cash comes back once or twice a year rather than quarterly.

Full FLJP profile⁠

Full MJSC profile⁠