EWJV vs. FLJH

Last updated Jun 3, 2026

EWJV (iShares MSCI Japan Value ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both Japan Equities funds - EWJV tracks the MSCI Japan Value Index while FLJH tracks the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. Over the past 5 years, EWJV returned 13.72%/yr vs 20.75%/yr for FLJH. A 0.72 correlation means they provide meaningful diversification when combined. EWJV charges 0.15%/yr vs 0.09%/yr for FLJH.

Performance

EWJV vs. FLJH - Performance Comparison

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

Returns By Period

In the year-to-date period, EWJV achieves a 14.66% return, which is significantly lower than FLJH's 19.46% return.

EWJV

• 1D: 0.70%
• 1M: 5.90%
• YTD: 14.66%
• 6M: 18.25%
• 1Y: 34.51%
• 3Y*: 24.13%
• 5Y*: 13.72%
• 10Y*: —

FLJH

• 1D: 0.67%
• 1M: 7.60%
• YTD: 19.46%
• 6M: 17.87%
• 1Y: 45.59%
• 3Y*: 27.69%
• 5Y*: 20.75%
• 10Y*: —

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

EWJV vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EWJV iShares MSCI Japan Value ETF	14.66%	33.96%	11.59%	23.60%	-6.02%	5.48%	2.41%	10.48%
FLJH Franklin FTSE Japan Hedged ETF	19.46%	25.26%	25.89%	36.02%	-2.75%	12.68%	10.65%	11.97%

Correlation

The correlation between EWJV and FLJH is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.72

The correlation between EWJV and FLJH has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

EWJV vs. FLJH - Sectors Allocation Comparison

Sectors	EWJV	FLJH
Financial Services	30.2%	15.9%
Industrials	23.9%	26.6%
Consumer Cyclical	13.8%	12.8%
Technology	9.4%	17.4%
Communication Services	6.3%	7.1%
Healthcare	4.3%	5.9%
Consumer Defensive	3.5%	4.2%
Real Estate	2.9%	3.4%
Energy	2.1%	1.0%
Basic Materials	2.0%	4.3%
Utilities	1.6%	1.3%

Return for Risk

EWJV vs. FLJH — Risk / Return Rank

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

EWJV

EWJV Risk / Return Rank: 50
EWJV Sharpe Ratio Rank: 52
EWJV Sortino Ratio Rank: 53
EWJV Omega Ratio Rank: 53
EWJV Calmar Ratio Rank: 48
EWJV Martin Ratio Rank: 44

FLJH

FLJH Risk / Return Rank: 79
FLJH Sharpe Ratio Rank: 77
FLJH Sortino Ratio Rank: 78
FLJH Omega Ratio Rank: 78
FLJH Calmar Ratio Rank: 81
FLJH Martin Ratio Rank: 82

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.

EWJV vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Value ETF (EWJV) 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.

	EWJV	FLJH	Difference
Sharpe ratio Return per unit of total volatility	1.80	2.55	-0.75
Sortino ratio Return per unit of downside risk	2.60	3.53	-0.93
Omega ratio Gain probability vs. loss probability	1.33	1.47	-0.14
Calmar ratio Return relative to maximum drawdown	2.43	4.28	-1.84
Martin ratio Return relative to average drawdown	7.32	16.79	-9.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWJV vs. FLJH - Sharpe Ratio Comparison

The current EWJV Sharpe Ratio is 1.80, which is comparable to the FLJH Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of EWJV 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.

Sharpe Ratios by Period

	EWJV	FLJH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.55	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.13	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.74	-0.06

Drawdowns

EWJV vs. FLJH - Drawdown Comparison

The maximum EWJV drawdown since its inception was -30.05%, roughly equal to the maximum FLJH drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for EWJV and FLJH.

Drawdown Indicators

	EWJV	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-30.05%	-31.51%	+1.46%
Max Drawdown (1Y) Largest decline over 1 year	-14.74%	-10.80%	-3.94%
Max Drawdown (3Y) Largest decline over 3 years	-14.74%	-20.39%	+5.65%
Max Drawdown (5Y) Largest decline over 5 years	-25.39%	-20.39%	-5.00%
Current Drawdown Current decline from peak	-4.25%	0.00%	-4.25%
Average Drawdown Average peak-to-trough decline	-6.19%	-5.32%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	2.75%	+2.15%

Volatility

EWJV vs. FLJH - Volatility Comparison

iShares MSCI Japan Value ETF (EWJV) has a higher volatility of 4.00% compared to Franklin FTSE Japan Hedged ETF (FLJH) at 3.48%. This indicates that EWJV'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

	EWJV	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.48%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	13.42%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	17.97%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	18.51%	-0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	19.83%	-1.30%

EWJV vs. FLJH - Expense Ratio Comparison

EWJV has a 0.15% expense ratio, which is higher than FLJH's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EWJV vs. FLJH - Dividend Comparison

EWJV's dividend yield for the trailing twelve months is around 4.67%, more than FLJH's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWJV iShares MSCI Japan Value ETF	4.67%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%	0.00%	0.00%
FLJH Franklin FTSE Japan Hedged ETF	3.27%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%

Frequently Asked Questions

Can I hold both EWJV and FLJH in my portfolio?

EWJV and FLJH have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWJV or FLJH?

EWJV has higher volatility (4.00%) compared to FLJH (3.48%). In terms of maximum drawdown, EWJV dropped -30.05% vs FLJH's -31.51%.

Which ETF is better, EWJV or FLJH?

On 5-year performance, FLJH leads with 20.75% vs 13.72% for EWJV. On fees, FLJH is cheaper at 0.09% per year. On volatility, FLJH has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWJV or FLJH?

Over the 5-year period, FLJH has performed better with a 20.75% return vs 13.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWJV or FLJH?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.15% for EWJV.

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

EWJV has the higher dividend yield at 4.67%, compared with 3.27% for FLJH.

What is the main difference between EWJV and FLJH?

EWJV tracks MSCI Japan Value Index, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.15% for EWJV and 0.09% for FLJH.

Which has better risk-adjusted returns?

FLJH currently has the higher Sharpe Ratio (2.55 vs 1.80), 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.