FLEE vs. FLJH

Last updated Jun 4, 2026

FLEE (Franklin FTSE Europe ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both exchange-traded funds - FLEE is a Europe Equities fund tracking the FTSE Developed Europe RIC Capped Index, 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, FLEE returned 8.65%/yr vs 20.80%/yr for FLJH. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.

Performance

FLEE vs. FLJH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Europe ETF (FLEE) 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, FLEE achieves a 5.58% return, which is significantly lower than FLJH's 20.31% return.

FLEE

• 1D: -1.22%
• 1M: 2.47%
• YTD: 5.58%
• 6M: 8.37%
• 1Y: 17.27%
• 3Y*: 16.30%
• 5Y*: 8.65%
• 10Y*: —

FLJH

• 1D: 0.71%
• 1M: 8.59%
• YTD: 20.31%
• 6M: 18.71%
• 1Y: 46.83%
• 3Y*: 27.99%
• 5Y*: 20.80%
• 10Y*: —

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

FLEE vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEE Franklin FTSE Europe ETF	5.58%	35.76%	2.03%	20.46%	-15.22%	16.84%	5.33%	24.41%	-14.97%	1.47%
FLJH Franklin FTSE Japan Hedged ETF	20.31%	25.26%	25.89%	36.02%	-2.75%	12.68%	10.65%	20.34%	-14.66%	1.26%

Correlation

The correlation between FLEE and FLJH is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.55

The correlation between FLEE and FLJH has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.

FLEE vs. FLJH - Sectors Allocation Comparison

Sectors	FLEE	FLJH
Financial Services	23.8%	15.9%
Industrials	19.6%	26.6%
Healthcare	12.8%	5.9%
Consumer Defensive	8.5%	4.2%
Technology	8.5%	17.4%
Consumer Cyclical	6.6%	12.8%
Basic Materials	5.8%	4.3%
Energy	5.3%	1.0%
Utilities	5.1%	1.3%
Communication Services	3.0%	7.1%
Real Estate	1.1%	3.4%

Return for Risk

FLEE vs. FLJH — Risk / Return Rank

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

FLEE

FLEE Risk / Return Rank: 30
FLEE Sharpe Ratio Rank: 30
FLEE Sortino Ratio Rank: 30
FLEE Omega Ratio Rank: 29
FLEE Calmar Ratio Rank: 28
FLEE Martin Ratio Rank: 33

FLJH

FLJH Risk / Return Rank: 80
FLJH Sharpe Ratio Rank: 79
FLJH Sortino Ratio Rank: 79
FLJH Omega Ratio Rank: 79
FLJH Calmar Ratio Rank: 82
FLJH Martin Ratio Rank: 83

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.

FLEE vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Europe ETF (FLEE) 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.

	FLEE	FLJH	Difference
Sharpe ratio: Return per unit of total volatility	1.11	2.62	-1.51
Sortino ratio: Return per unit of downside risk	1.64	3.61	-1.97
Omega ratio: Gain probability vs. loss probability	1.20	1.48	-0.28
Calmar ratio: Return relative to maximum drawdown	1.40	4.36	-2.96
Martin ratio: Return relative to average drawdown	5.13	17.09	-11.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLEE vs. FLJH - Sharpe Ratio Comparison

The current FLEE Sharpe Ratio is 1.11, which is lower than the FLJH Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of FLEE 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

	FLEE	FLJH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	2.62	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	1.13	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.75	-0.31

Drawdowns

FLEE vs. FLJH - Drawdown Comparison

The maximum FLEE drawdown since its inception was -37.27%, which is greater than FLJH's maximum drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for FLEE and FLJH.

Drawdown Indicators

	FLEE	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-37.27%	-31.51%	-5.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.37%	-10.80%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.59%	-20.39%	+5.80%
Max Drawdown (5Y) Largest decline over 5 years	-31.62%	-20.39%	-11.23%
Current Drawdown Current decline from peak	-3.03%	0.00%	-3.03%
Average Drawdown Average peak-to-trough decline	-7.11%	-5.32%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	2.75%	+0.63%

Volatility

FLEE vs. FLJH - Volatility Comparison

Franklin FTSE Europe ETF (FLEE) has a higher volatility of 5.78% compared to Franklin FTSE Japan Hedged ETF (FLJH) at 3.45%. This indicates that FLEE'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

	FLEE	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	3.45%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	13.38%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	17.98%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	18.51%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	19.82%	-0.87%

FLEE vs. FLJH - Expense Ratio Comparison

Both FLEE and FLJH have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FLEE vs. FLJH - Dividend Comparison

FLEE's dividend yield for the trailing twelve months is around 2.61%, less than FLJH's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEE Franklin FTSE Europe ETF	2.61%	2.76%	3.93%	2.57%	3.48%	3.61%	1.88%	3.02%	3.85%	0.02%
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

Can I hold both FLEE and FLJH in my portfolio?

FLEE and FLJH have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLEE or FLJH?

FLEE has higher volatility (5.78%) compared to FLJH (3.45%). In terms of maximum drawdown, FLEE dropped -37.27% vs FLJH's -31.51%.

Which ETF is better, FLEE or FLJH?

On 5-year performance, FLJH leads with 20.80% vs 8.65% for FLEE. Both ETFs have the same 0.09% expense ratio. On volatility, FLJH has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLEE or FLJH?

Over the 5-year period, FLJH has performed better with a 20.80% return vs 8.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLEE or FLJH?

FLEE and FLJH have the same expense ratio: 0.09% per year.

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

FLJH has the higher dividend yield at 3.24%, compared with 2.61% for FLEE.

What is the main difference between FLEE and FLJH?

FLEE is categorized as Europe Equities, while FLJH is Japan Equities. FLEE tracks FTSE Developed Europe RIC Capped Index, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index.

Which has better risk-adjusted returns?

FLJH currently has the higher Sharpe Ratio (2.62 vs 1.11), 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.