DBJP vs. FLJH

Last updated Jun 24, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both Japan Equities funds - DBJP tracks the MSCI Japan US Dollar Hedged Index while FLJH tracks the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. Over the past 5 years, DBJP returned 21.61%/yr vs 20.87%/yr for FLJH. Their correlation of 0.91 suggests significant overlap in exposure. DBJP charges 0.45%/yr vs 0.09%/yr for FLJH.

Performance

DBJP vs. FLJH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Franklin FTSE Japan Hedged ETF (FLJH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DBJP having a 21.03% return and FLJH slightly lower at 20.28%.

DBJP

• 1D: -4.33%
• 1M: 3.46%
• YTD: 21.03%
• 6M: 21.10%
• 1Y: 53.92%
• 3Y*: 28.45%
• 5Y*: 21.61%
• 10Y*: 17.47%

FLJH

• 1D: -4.00%
• 1M: 2.70%
• YTD: 20.28%
• 6M: 20.23%
• 1Y: 46.99%
• 3Y*: 27.12%
• 5Y*: 20.87%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBJP vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBJP Xtrackers MSCI Japan Hedged Equity ETF	21.03%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-14.82%	0.93%
FLJH Franklin FTSE Japan Hedged ETF	20.28%	25.26%	25.89%	36.02%	-2.75%	12.68%	10.65%	20.34%	-14.66%	1.26%

Correlation

The correlation between DBJP and FLJH is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.91

The correlation between DBJP and FLJH has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

DBJP vs. FLJH - Sectors Allocation Comparison

Sectors	DBJP	FLJH
Industrials	24.5%	25.2%
Technology	21.7%	19.4%
Financial Services	17.0%	15.8%
Consumer Cyclical	11.9%	12.7%
Communication Services	8.9%	8.0%
Healthcare	5.6%	5.5%
Basic Materials	3.4%	4.4%
Consumer Defensive	3.3%	4.0%
Real Estate	1.9%	3.0%
Utilities	1.0%	1.2%
Energy	0.9%	0.9%

Return for Risk

DBJP vs. FLJH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBJP

DBJP Risk / Return Rank: 88
DBJP Sharpe Ratio Rank: 88
DBJP Sortino Ratio Rank: 85
DBJP Omega Ratio Rank: 85
DBJP Calmar Ratio Rank: 90
DBJP Martin Ratio Rank: 91

FLJH

FLJH Risk / Return Rank: 82
FLJH Sharpe Ratio Rank: 82
FLJH Sortino Ratio Rank: 79
FLJH Omega Ratio Rank: 81
FLJH Calmar Ratio Rank: 84
FLJH Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBJP vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Franklin FTSE Japan Hedged ETF (FLJH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DBJP	FLJH	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.49	+0.24
Sortino ratio: Return per unit of downside risk	3.58	3.31	+0.28
Omega ratio: Gain probability vs. loss probability	1.49	1.46	+0.03
Calmar ratio: Return relative to maximum drawdown	5.22	4.37	+0.84
Martin ratio: Return relative to average drawdown	19.97	16.90	+3.07

DBJP vs. FLJH - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.72, which is comparable to the FLJH Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of DBJP and FLJH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBJP vs. FLJH - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, roughly equal to the maximum FLJH drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for DBJP and FLJH.

Drawdown Indicators

	DBJP	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-31.51%	+0.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-10.80%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-20.39%	-1.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-20.39%	-1.11%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	—	—
Current Drawdown Current decline from peak	-4.33%	-4.00%	-0.33%
Average Drawdown Average peak-to-trough decline	-7.27%	-5.29%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.79%	-0.08%

Volatility

DBJP vs. FLJH - Volatility Comparison

Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 7.92% compared to Franklin FTSE Japan Hedged ETF (FLJH) at 7.15%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than FLJH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	7.15%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	15.56%	14.83%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	18.98%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	18.71%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.31%	19.89%	-0.58%

DBJP vs. FLJH - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is higher than FLJH's 0.09% expense ratio.

Dividends

DBJP vs. FLJH - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 1.25%, less than FLJH's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	1.25%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
FLJH Franklin FTSE Japan Hedged ETF	1.86%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBJP and FLJH in my portfolio?

With a correlation of 0.95, DBJP and FLJH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DBJP or FLJH?

DBJP has higher volatility (7.92%) compared to FLJH (7.15%). In terms of maximum drawdown, DBJP dropped -31.30% vs FLJH's -31.51%.

Which ETF is better, DBJP or FLJH?

On 5-year performance, DBJP leads with 21.61% vs 20.87% for FLJH. On fees, FLJH is cheaper at 0.09% per year. On volatility, FLJH has been the lower-risk option at 7.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBJP or FLJH?

Over the 5-year period, DBJP has performed better with a 21.61% return vs 20.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBJP or FLJH?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.45% for DBJP.

Which ETF pays a higher dividend yield, DBJP or FLJH?

FLJH has the higher dividend yield at 1.86%, compared with 1.25% for DBJP.

What is the main difference between DBJP and FLJH?

DBJP tracks MSCI Japan US Dollar Hedged Index, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index. They also come from different issuers: Xtrackers and Franklin Templeton. Their fees differ too: 0.45% for DBJP and 0.09% for FLJH.

Which has better risk-adjusted returns?

DBJP currently has the higher Sharpe Ratio (2.72 vs 2.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.