PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EZJ vs. FLJH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EZJ vs. FLJH

Last updated Jun 5, 2026

EZJ (ProShares Ultra MSCI Japan) and FLJH (Franklin FTSE Japan Hedged ETF) are both exchange-traded funds - EZJ is a Leveraged Equities fund tracking the MSCI Japan Index (200%), while FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. Over the past 5 years, EZJ returned 7.76%/yr vs 20.83%/yr for FLJH. A 0.79 correlation means they provide meaningful diversification when combined. EZJ charges 0.95%/yr vs 0.09%/yr for FLJH.

Performance

EZJ vs. FLJH - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, EZJ achieves a 29.29% return, which is significantly higher than FLJH's 20.41% return.

EZJ

1D
0.39%
1M
10.56%
YTD
29.29%
6M
28.96%
1Y
58.99%
3Y*
26.09%
5Y*
7.76%
10Y*
10.56%

FLJH

1D
0.09%
1M
7.06%
YTD
20.41%
6M
17.72%
1Y
48.16%
3Y*
28.28%
5Y*
20.83%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EZJ vs. FLJH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EZJ
ProShares Ultra MSCI Japan		29.29%42.72%3.31%30.78%-38.23%-1.96%22.21%33.76%-30.99%3.91%
FLJH
Franklin FTSE Japan Hedged ETF		20.41%25.26%25.89%36.02%-2.75%12.68%10.65%20.34%-14.66%1.26%

Correlation

The correlation between EZJ and FLJH is 0.86, 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

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.82

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2017

0.79

The correlation between EZJ and FLJH has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

EZJ vs. FLJH - Sectors Allocation Comparison

Sectors
EZJ
FLJH

Industrials

26.0%
26.6%

Technology

19.1%
17.4%

Financial Services

17.6%
15.9%

Consumer Cyclical

12.2%
12.8%

Communication Services

7.9%
7.1%

Healthcare

6.2%
5.9%

Consumer Defensive

3.6%
4.2%

Basic Materials

3.0%
4.3%

Real Estate

2.3%
3.4%

Utilities

1.1%
1.3%

Energy

1.1%
1.0%

Industrials

EZJ
26.0%
FLJH
26.6%

Technology

EZJ
19.1%
FLJH
17.4%

Financial Services

EZJ
17.6%
FLJH
15.9%

Consumer Cyclical

EZJ
12.2%
FLJH
12.8%

Communication Services

EZJ
7.9%
FLJH
7.1%

Healthcare

EZJ
6.2%
FLJH
5.9%

Consumer Defensive

EZJ
3.6%
FLJH
4.2%

Basic Materials

EZJ
3.0%
FLJH
4.3%

Real Estate

EZJ
2.3%
FLJH
3.4%

Utilities

EZJ
1.1%
FLJH
1.3%

Energy

EZJ
1.1%
FLJH
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra MSCI Japan

Franklin FTSE Japan Hedged ETF

Often compared with EZJ:
EZJ vs. EWJEZJ vs. EWVEZJ vs. DXJEZJ vs. EWJVEZJ vs. FLJPEZJ vs. ^N225EZJ vs. YCL
Often compared with FLJH:
FLJH vs. FLJPFLJH vs. EWJVFLJH vs. HEWJFLJH vs. DBJPFLJH vs. SCHDFLJH vs. EWJFLJH vs. OARK

Return for Risk

EZJ vs. FLJH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EZJ
EZJ Risk / Return Rank: 4343
Overall Rank
EZJ Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
EZJ Sortino Ratio Rank: 4242
Sortino Ratio Rank
EZJ Omega Ratio Rank: 4343
Omega Ratio Rank
EZJ Calmar Ratio Rank: 4545
Calmar Ratio Rank
EZJ Martin Ratio Rank: 4343
Martin Ratio Rank
FLJH
FLJH Risk / Return Rank: 8484
Overall Rank
FLJH Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
FLJH Sortino Ratio Rank: 8484
Sortino Ratio Rank
FLJH Omega Ratio Rank: 8383
Omega Ratio Rank
FLJH Calmar Ratio Rank: 8484
Calmar Ratio Rank
FLJH Martin Ratio Rank: 8585
Martin Ratio Rank
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.

EZJ vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) 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.

EZJFLJHDifference
Sharpe ratioReturn per unit of total volatility
1.49
2.70

-1.20

Sortino ratioReturn per unit of downside risk
2.10
3.70

-1.59

Omega ratioGain probability vs. loss probability

1.27

1.50

-0.23

Calmar ratioReturn relative to maximum drawdown

2.21

4.48

-2.27

Martin ratioReturn relative to average drawdown

6.79

17.57

-10.79

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZJ vs. FLJH - Sharpe Ratio Comparison

The current EZJ Sharpe Ratio is 1.49, which is lower than the FLJH Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of EZJ 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.

Loading charts...

Sharpe Ratios by Period

EZJFLJHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

2.70

-1.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

1.13

-0.92

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.75

-0.51

Drawdowns

EZJ vs. FLJH - Drawdown Comparison

The maximum EZJ drawdown since its inception was -58.63%, which is greater than FLJH's maximum drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for EZJ and FLJH.

Loading charts...

Drawdown Indicators

EZJFLJHDifference

Max Drawdown

Largest peak-to-trough decline

-58.63%

-31.51%

-27.12%

Max Drawdown (1Y)

Largest decline over 1 year

-26.78%

-10.80%

-15.98%

Max Drawdown (3Y)

Largest decline over 3 years

-31.48%

-20.39%

-11.09%

Max Drawdown (5Y)

Largest decline over 5 years

-58.63%

-20.39%

-38.24%

Max Drawdown (10Y)

Largest decline over 10 years

-58.63%

—

—

Current Drawdown

Current decline from peak

-3.87%

0.00%

-3.87%

Average Drawdown

Average peak-to-trough decline

-21.28%

-5.31%

-15.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.72%

2.75%

+5.97%

Volatility

EZJ vs. FLJH - Volatility Comparison

ProShares Ultra MSCI Japan (EZJ) has a higher volatility of 8.46% compared to Franklin FTSE Japan Hedged ETF (FLJH) at 3.25%. This indicates that EZJ'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.

Loading charts...

Volatility by Period

EZJFLJHDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.46%

3.25%

+5.21%

Volatility (6M)

Calculated over the trailing 6-month period

30.74%

13.38%

+17.36%

Volatility (1Y)

Calculated over the trailing 1-year period

39.67%

17.97%

+21.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.58%

18.51%

+18.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.53%

19.82%

+14.71%

EZJ vs. FLJH - Expense Ratio Comparison

EZJ has a 0.95% expense ratio, which is higher than FLJH's 0.09% expense ratio.

Dividends

EZJ vs. FLJH - Dividend Comparison

EZJ's dividend yield for the trailing twelve months is around 1.60%, less than FLJH's 3.24% yield.

PositionTTM202520242023202220212020201920182017
EZJ
ProShares Ultra MSCI Japan		1.60%1.13%2.09%1.11%0.56%0.00%0.00%0.24%4.49%0.00%
FLJH
Franklin FTSE Japan Hedged ETF		3.24%3.90%5.06%25.59%26.67%1.29%0.00%0.00%5.92%0.10%

Frequently Asked Questions

EZJ and FLJH have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EZJ has higher volatility (8.46%) compared to FLJH (3.25%). In terms of maximum drawdown, EZJ dropped -58.63% vs FLJH's -31.51%.

On 5-year performance, FLJH leads with 20.83% vs 7.76% for EZJ. On fees, FLJH is cheaper at 0.09% per year. On volatility, FLJH has been the lower-risk option at 3.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLJH has performed better with a 20.83% return vs 7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLJH is cheaper with a 0.09% expense ratio, compared with 0.95% for EZJ.

FLJH has the higher dividend yield at 3.24%, compared with 1.60% for EZJ.

EZJ is categorized as Leveraged Equities, while FLJH is Japan Equities. EZJ tracks MSCI Japan Index (200%), while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index. They also come from different issuers: ProShares and Franklin Templeton. Their fees differ too: 0.95% for EZJ and 0.09% for FLJH.

FLJH currently has the higher Sharpe Ratio (2.70 vs 1.49), 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.

Portfolio Optimizer

Find the right allocation for EZJ and FLJH

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer