FJP vs. IAUM

Last updated Jun 24, 2026

FJP (First Trust Japan AlphaDEX Fund) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - FJP is a Japan Equities fund tracking the NASDAQ AlphaDEX Japan Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, FJP returned 21.09%/yr vs 28.82%/yr for IAUM. At a 0.26 correlation, their price movements are largely independent. FJP charges 0.80%/yr vs 0.09%/yr for IAUM.

Performance

FJP vs. IAUM - Performance Comparison

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

Returns By Period

In the year-to-date period, FJP achieves a 14.36% return, which is significantly higher than IAUM's -4.68% return.

FJP

• 1D: -3.66%
• 1M: 0.74%
• YTD: 14.36%
• 6M: 13.78%
• 1Y: 34.76%
• 3Y*: 21.09%
• 5Y*: 11.07%
• 10Y*: 7.86%

IAUM

• 1D: -1.87%
• 1M: -8.79%
• YTD: -4.68%
• 6M: -8.59%
• 1Y: 21.67%
• 3Y*: 28.82%
• 5Y*: —
• 10Y*: —

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

FJP vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FJP First Trust Japan AlphaDEX Fund	14.36%	33.60%	5.80%	23.00%	-12.83%	-2.35%
IAUM iShares Gold Trust Micro	-4.68%	64.27%	27.04%	13.12%	-0.49%	3.87%

Correlation

The correlation between FJP and IAUM is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021	0.26

Return for Risk

FJP vs. IAUM — Risk / Return Rank

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

FJP

FJP Risk / Return Rank: 50
FJP Sharpe Ratio Rank: 51
FJP Sortino Ratio Rank: 50
FJP Omega Ratio Rank: 50
FJP Calmar Ratio Rank: 53
FJP Martin Ratio Rank: 46

IAUM

IAUM Risk / Return Rank: 22
IAUM Sharpe Ratio Rank: 23
IAUM Sortino Ratio Rank: 21
IAUM Omega Ratio Rank: 25
IAUM Calmar Ratio Rank: 20
IAUM Martin Ratio Rank: 21

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.

FJP vs. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Japan AlphaDEX Fund (FJP) and iShares Gold Trust Micro (IAUM). 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	IAUM	Difference
Sharpe ratio: Return per unit of total volatility	1.65	0.80	+0.85
Sortino ratio: Return per unit of downside risk	2.28	1.15	+1.12
Omega ratio: Gain probability vs. loss probability	1.29	1.17	+0.13
Calmar ratio: Return relative to maximum drawdown	2.42	0.89	+1.53
Martin ratio: Return relative to average drawdown	7.07	2.40	+4.67

FJP vs. IAUM - Sharpe Ratio Comparison

The current FJP Sharpe Ratio is 1.65, which is higher than the IAUM Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of FJP and IAUM, 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. IAUM - Drawdown Comparison

The maximum FJP drawdown since its inception was -41.51%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for FJP and IAUM.

Drawdown Indicators

	FJP	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-41.51%	-24.37%	-17.14%
Max Drawdown (1Y) Largest decline over 1 year	-14.43%	-24.37%	+9.94%
Max Drawdown (3Y) Largest decline over 3 years	-17.02%	-24.37%	+7.35%
Max Drawdown (5Y) Largest decline over 5 years	-31.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.51%	—	—
Current Drawdown Current decline from peak	-6.28%	-23.81%	+17.53%
Average Drawdown Average peak-to-trough decline	-11.44%	-5.46%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	9.06%	-4.13%

Volatility

FJP vs. IAUM - Volatility Comparison

First Trust Japan AlphaDEX Fund (FJP) and iShares Gold Trust Micro (IAUM) have volatilities of 8.15% and 8.12%, 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	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	8.12%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	17.96%	24.11%	-6.15%
Volatility (1Y) Calculated over the trailing 1-year period	21.22%	27.27%	-6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	18.10%	+2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	18.10%	+0.81%

FJP vs. IAUM - Expense Ratio Comparison

FJP has a 0.80% expense ratio, which is higher than IAUM's 0.09% expense ratio.

Dividends

FJP vs. IAUM - Dividend Comparison

FJP's dividend yield for the trailing twelve months is around 2.49%, while IAUM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJP First Trust Japan AlphaDEX Fund	2.49%	2.68%	3.18%	3.49%	2.21%	2.43%	0.99%	2.80%	1.54%	1.29%	1.46%	0.85%
IAUM iShares Gold Trust Micro	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FJP and IAUM in my portfolio?

FJP and IAUM have a correlation of 0.33, 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 IAUM?

FJP has higher volatility (8.15%) compared to IAUM (8.12%). In terms of maximum drawdown, FJP dropped -41.51% vs IAUM's -24.37%.

Which ETF is better, FJP or IAUM?

On 3-year performance, IAUM leads with 28.82% vs 21.09% for FJP. On fees, IAUM is cheaper at 0.09% 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 IAUM?

Over the 3-year period, IAUM has performed better with a 28.82% return vs 21.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FJP or IAUM?

IAUM is cheaper with a 0.09% expense ratio, compared with 0.80% for FJP.

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

FJP has the higher dividend yield at 2.49%, compared with 0.00% for IAUM.

What is the main difference between FJP and IAUM?

FJP is categorized as Japan Equities, while IAUM is Gold. FJP tracks NASDAQ AlphaDEX Japan Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.80% for FJP and 0.09% for IAUM.

Which has better risk-adjusted returns?

FJP currently has the higher Sharpe Ratio (1.65 vs 0.80), 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.