FIP vs. SCJ

Last updated Jun 5, 2026

FIP (FTAI Infrastructure Inc.) is a stock, while SCJ (iShares MSCI Japan Small Cap ETF) is Japan Equities fund tracking the MSCI Japan Small Cap Index. Over the past 3 years, FIP returned 8.15%/yr vs 18.10%/yr for SCJ. At a 0.21 correlation, their price movements are largely independent.

Performance

FIP vs. SCJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FTAI Infrastructure Inc. (FIP) and iShares MSCI Japan Small Cap ETF (SCJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIP achieves a -5.13% return, which is significantly lower than SCJ's 14.88% return.

FIP

• 1D: 2.37%
• 1M: -20.36%
• YTD: -5.13%
• 6M: -13.74%
• 1Y: -27.52%
• 3Y*: 8.15%
• 5Y*: —
• 10Y*: —

SCJ

• 1D: 0.46%
• 1M: 5.01%
• YTD: 14.88%
• 6M: 16.33%
• 1Y: 29.92%
• 3Y*: 18.10%
• 5Y*: 7.46%
• 10Y*: 7.52%

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

FIP vs. SCJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIP FTAI Infrastructure Inc.	-5.13%	-34.92%	89.46%	36.92%	10.57%
SCJ iShares MSCI Japan Small Cap ETF	14.88%	29.58%	3.41%	13.22%	0.64%

Correlation

The correlation between FIP and SCJ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022	0.21

Return for Risk

FIP vs. SCJ — Risk / Return Rank

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

FIP

FIP Risk / Return Rank: 24
FIP Sharpe Ratio Rank: 24
FIP Sortino Ratio Rank: 27
FIP Omega Ratio Rank: 27
FIP Calmar Ratio Rank: 19
FIP Martin Ratio Rank: 21

SCJ

SCJ Risk / Return Rank: 53
SCJ Sharpe Ratio Rank: 55
SCJ Sortino Ratio Rank: 56
SCJ Omega Ratio Rank: 54
SCJ Calmar Ratio Rank: 51
SCJ Martin Ratio Rank: 50

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.

FIP vs. SCJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FTAI Infrastructure Inc. (FIP) and iShares MSCI Japan Small Cap ETF (SCJ). 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.

	FIP	SCJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	1.87	-2.27
Sortino ratio: Return per unit of downside risk	-0.17	2.65	-2.82
Omega ratio: Gain probability vs. loss probability	0.98	1.33	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.63	2.47	-3.10
Martin ratio: Return relative to average drawdown	-1.03	8.35	-9.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIP vs. SCJ - Sharpe Ratio Comparison

The current FIP Sharpe Ratio is -0.40, which is lower than the SCJ Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FIP and SCJ, 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

	FIP	SCJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	1.87	-2.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.47	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.30	-0.03

Drawdowns

FIP vs. SCJ - Drawdown Comparison

The maximum FIP drawdown since its inception was -67.98%, which is greater than SCJ's maximum drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for FIP and SCJ.

Drawdown Indicators

	FIP	SCJ	Difference
Max Drawdown Largest peak-to-trough decline	-67.98%	-43.52%	-24.46%
Max Drawdown (1Y) Largest decline over 1 year	-43.97%	-12.17%	-31.80%
Max Drawdown (3Y) Largest decline over 3 years	-67.98%	-12.43%	-55.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.87%	—
Current Drawdown Current decline from peak	-56.24%	-1.36%	-54.88%
Average Drawdown Average peak-to-trough decline	-23.36%	-10.38%	-12.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.65%	3.59%	+23.06%

Volatility

FIP vs. SCJ - Volatility Comparison

FTAI Infrastructure Inc. (FIP) has a higher volatility of 17.87% compared to iShares MSCI Japan Small Cap ETF (SCJ) at 4.03%. This indicates that FIP's price experiences larger fluctuations and is considered to be riskier than SCJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIP	SCJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.87%	4.03%	+13.84%
Volatility (6M) Calculated over the trailing 6-month period	48.32%	13.11%	+35.21%
Volatility (1Y) Calculated over the trailing 1-year period	69.04%	16.08%	+52.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.18%	15.80%	+43.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.18%	16.28%	+42.90%

Dividends

FIP vs. SCJ - Dividend Comparison

FIP's dividend yield for the trailing twelve months is around 2.78%, more than SCJ's 2.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIP FTAI Infrastructure Inc.	2.78%	2.60%	1.65%	3.08%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCJ iShares MSCI Japan Small Cap ETF	2.73%	3.14%	1.79%	1.99%	1.18%	1.87%	0.89%	1.85%	1.44%	1.45%	2.73%	1.53%

Frequently Asked Questions

Can I hold both FIP and SCJ in my portfolio?

FIP and SCJ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIP or SCJ?

FIP has higher volatility (17.87%) compared to SCJ (4.03%). In terms of maximum drawdown, FIP dropped -67.98% vs SCJ's -43.52%.

Which has better risk-adjusted returns?

SCJ currently has the higher Sharpe Ratio (1.87 vs -0.40), 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.