FJP vs. BBJP

Last updated Aug 4, 2026

FJP (First Trust Japan AlphaDEX Fund) and BBJP (JPMorgan BetaBuilders Japan ETF) are both Japan Equities funds - FJP tracks the NASDAQ AlphaDEX Japan Index while BBJP tracks the Morningstar Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, FJP returned 10.76%/yr vs 9.15%/yr for BBJP. Their correlation of 0.84 means they have usually moved in the same direction. FJP charges 0.80%/yr vs 0.19%/yr for BBJP.

Performance

FJP vs. BBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Japan AlphaDEX Fund (FJP) and JPMorgan BetaBuilders Japan ETF (BBJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FJP achieves a 11.92% return, which is significantly lower than BBJP's 13.76% return.

FJP

• 1D: 0.46%
• 1M: -2.16%
• 6M: 5.22%
• YTD: 11.92%
• 1Y: 26.90%
• 3Y*: 18.09%
• 5Y*: 10.76%
• 10Y*: 7.30%
• ALL TIME*: 5.83%

BBJP

• 1D: 0.54%
• 1M: -0.32%
• 6M: 7.16%
• YTD: 13.76%
• 1Y: 29.12%
• 3Y*: 17.63%
• 5Y*: 9.15%
• 10Y*: —
• ALL TIME*: 7.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBJP JPMorgan BetaBuilders Japan ETF	$139.86M	$107.18M	$113.19M
FJP First Trust Japan AlphaDEX Fund	$726.42K	$746.73K	$724.49K

FJP vs. BBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FJP First Trust Japan AlphaDEX Fund	11.92%	33.60%	5.80%	23.00%	-12.83%	-1.13%	3.60%	7.72%	-15.73%
BBJP JPMorgan BetaBuilders Japan ETF	13.76%	26.55%	7.47%	20.65%	-17.24%	1.21%	15.42%	18.85%	-13.92%

Correlation

The correlation between FJP and BBJP is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018	0.84

The correlation between FJP and BBJP has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

FJP vs. BBJP - Sectors Allocation Comparison

Sectors	FJP	BBJP
Industrials	43.6%	25.8%
Technology	12.2%	21.5%
Consumer Cyclical	12.1%	10.5%
Basic Materials	9.6%	3.9%
Utilities	5.8%	1.0%
Financial Services	5.7%	19.9%
Healthcare	3.2%	5.8%
Energy	3.2%	0.9%
Real Estate	3.1%	2.1%
Consumer Defensive	0.8%	3.6%
Communication Services	0.8%	4.5%

Return for Risk

FJP vs. BBJP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FJP

FJP Risk / Return Rank: 47
FJP Sharpe Ratio Rank: 48
FJP Sortino Ratio Rank: 47
FJP Omega Ratio Rank: 48
FJP Calmar Ratio Rank: 50
FJP Martin Ratio Rank: 42

BBJP

BBJP Risk / Return Rank: 58
BBJP Sharpe Ratio Rank: 58
BBJP Sortino Ratio Rank: 58
BBJP Omega Ratio Rank: 60
BBJP Calmar Ratio Rank: 59
BBJP Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FJP vs. BBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Japan AlphaDEX Fund (FJP) and JPMorgan BetaBuilders Japan ETF (BBJP). 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.

	FJP	BBJP	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.42	-0.16
Sortino ratio: Return per unit of downside risk	1.81	2.03	-0.22
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	1.87	2.15	-0.28
Martin ratio: Return relative to average drawdown	4.86	6.87	-2.01

FJP vs. BBJP - Sharpe Ratio Comparison

The current FJP Sharpe Ratio is 1.26, which is comparable to the BBJP Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of FJP and BBJP, 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

FJP vs. BBJP - Drawdown Comparison

The maximum FJP drawdown since its inception was -41.51%, which is greater than BBJP's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for FJP and BBJP.

Drawdown Indicators

	FJP	BBJP	Difference
Max Drawdown Largest peak-to-trough decline	-41.51%	-32.66%	-8.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.43%	-13.60%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-17.02%	-14.49%	-2.53%
Max Drawdown (5Y) Largest decline over 5 years	-31.88%	-32.66%	+0.78%
Max Drawdown (10Y) Largest decline over 10 years	-41.51%	—	—
Current Drawdown Current decline from peak	-8.27%	-4.04%	-4.23%
Average Drawdown Average peak-to-trough decline	-11.41%	-8.43%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	4.25%	+1.29%

Volatility

FJP vs. BBJP - Volatility Comparison

First Trust Japan AlphaDEX Fund (FJP) and JPMorgan BetaBuilders Japan ETF (BBJP) have volatilities of 7.56% and 7.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJP	BBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	7.64%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	18.76%	17.40%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	21.46%	20.68%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.69%	18.57%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	18.46%	+0.56%

FJP vs. BBJP - Expense Ratio Comparison

FJP has a 0.80% expense ratio, which is higher than BBJP's 0.19% expense ratio.

Dividends

FJP vs. BBJP - Dividend Comparison

FJP's dividend yield for the trailing twelve months is around 2.59%, less than BBJP's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBJP JPMorgan BetaBuilders Japan ETF	4.72%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%	0.00%	0.00%	0.00%
FJP First Trust Japan AlphaDEX Fund	2.59%	2.68%	3.18%	3.49%	2.21%	2.43%	0.99%	2.80%	1.54%	1.29%	1.46%	0.85%

Frequently Asked Questions

Can I hold both FJP and BBJP in my portfolio?

FJP and BBJP have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJP or BBJP?

BBJP has higher volatility (7.64%) compared to FJP (7.56%). In terms of maximum drawdown, FJP dropped -41.51% vs BBJP's -32.66%.

Which ETF is better, FJP or BBJP?

On 5-year performance, FJP leads with 10.76% vs 9.15% for BBJP. On fees, BBJP is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FJP or BBJP?

Over the 5-year period, FJP has performed better with a 10.76% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FJP or BBJP?

BBJP is cheaper with a 0.19% expense ratio, compared with 0.80% for FJP.

Which ETF pays a higher dividend yield, FJP or BBJP?

BBJP has the higher dividend yield at 4.72%, compared with 2.59% for FJP.

What is the main difference between FJP and BBJP?

FJP tracks NASDAQ AlphaDEX Japan Index, while BBJP tracks Morningstar Japan Target Market Exposure Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.80% for FJP and 0.19% for BBJP.

Which has better risk-adjusted returns?

BBJP currently has the higher Sharpe Ratio (1.42 vs 1.26), 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.