FLJH vs. BOXX

Last updated Jun 21, 2026

FLJH (Franklin FTSE Japan Hedged ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. Both are passively managed. Over the past 3 years, FLJH returned 27.69%/yr vs 4.72%/yr for BOXX. At a correlation of -0.06, they often move in opposite directions. FLJH charges 0.09%/yr vs 0.19%/yr for BOXX.

Performance

FLJH vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan Hedged ETF (FLJH) and Alpha Architect 1-3 Month Box ETF (BOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLJH achieves a 24.40% return, which is significantly higher than BOXX's 1.70% return.

FLJH

• 1D: 1.89%
• 1M: 6.87%
• YTD: 24.40%
• 6M: 24.43%
• 1Y: 52.55%
• 3Y*: 27.69%
• 5Y*: 22.13%
• 10Y*: —

BOXX

• 1D: 0.05%
• 1M: 0.24%
• YTD: 1.70%
• 6M: 1.88%
• 1Y: 4.01%
• 3Y*: 4.72%
• 5Y*: —
• 10Y*: —

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

FLJH vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLJH Franklin FTSE Japan Hedged ETF	24.40%	25.26%	25.89%	36.02%	-1.56%
BOXX Alpha Architect 1-3 Month Box ETF	1.70%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between FLJH and BOXX is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022	-0.06

The correlation between FLJH and BOXX shifts across timeframes, from -0.17 (1 year) to -0.03 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FLJH vs. BOXX — Risk / Return Rank

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

FLJH

FLJH Risk / Return Rank: 88
FLJH Sharpe Ratio Rank: 88
FLJH Sortino Ratio Rank: 87
FLJH Omega Ratio Rank: 87
FLJH Calmar Ratio Rank: 87
FLJH Martin Ratio Rank: 88

BOXX

BOXX Risk / Return Rank: 100
BOXX Sharpe Ratio Rank: 100
BOXX Sortino Ratio Rank: 99
BOXX Omega Ratio Rank: 99
BOXX Calmar Ratio Rank: 99
BOXX Martin Ratio Rank: 100

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.

FLJH vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan Hedged ETF (FLJH) and Alpha Architect 1-3 Month Box ETF (BOXX). 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.

	FLJH	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	12.59	-9.82
Sortino ratio: Return per unit of downside risk	3.72	36.49	-32.78
Omega ratio: Gain probability vs. loss probability	1.50	9.20	-7.69
Calmar ratio: Return relative to maximum drawdown	4.75	59.70	-54.95
Martin ratio: Return relative to average drawdown	18.43	515.32	-496.89

FLJH vs. BOXX - Sharpe Ratio Comparison

The current FLJH Sharpe Ratio is 2.77, which is lower than the BOXX Sharpe Ratio of 12.59. The chart below compares the historical Sharpe Ratios of FLJH and BOXX, 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

FLJH vs. BOXX - Drawdown Comparison

The maximum FLJH drawdown since its inception was -31.51%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for FLJH and BOXX.

Drawdown Indicators

	FLJH	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-31.51%	-0.12%	-31.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-0.07%	-10.73%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	-0.12%	-20.27%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.30%	-0.00%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	0.01%	+2.77%

Volatility

FLJH vs. BOXX - Volatility Comparison

Franklin FTSE Japan Hedged ETF (FLJH) has a higher volatility of 5.58% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.12%. This indicates that FLJH's price experiences larger fluctuations and is considered to be riskier than BOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJH	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	0.12%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	0.26%	+13.96%
Volatility (1Y) Calculated over the trailing 1-year period	18.57%	0.33%	+18.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	0.37%	+18.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	0.37%	+19.48%

FLJH vs. BOXX - Expense Ratio Comparison

FLJH has a 0.09% expense ratio, which is lower than BOXX's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLJH vs. BOXX - Dividend Comparison

FLJH's dividend yield for the trailing twelve months is around 3.14%, while BOXX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLJH Franklin FTSE Japan Hedged ETF	1.79%	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 FLJH and BOXX in my portfolio?

FLJH and BOXX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLJH or BOXX?

FLJH has higher volatility (5.58%) compared to BOXX (0.12%). In terms of maximum drawdown, FLJH dropped -31.51% vs BOXX's -0.12%.

Which ETF is better, FLJH or BOXX?

On 3-year performance, FLJH leads with 27.69% vs 4.72% for BOXX. On fees, FLJH is cheaper at 0.09% per year. On volatility, BOXX has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLJH or BOXX?

Over the 3-year period, FLJH has performed better with a 27.69% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJH or BOXX?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.19% for BOXX.

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

FLJH has the higher dividend yield at 1.79%, compared with 0.00% for BOXX.

What is the main difference between FLJH and BOXX?

FLJH is categorized as Japan Equities, while BOXX is Ultrashort Bond. FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index, while BOXX tracks Solactive 1-3 Month US T-Bill Index. They also come from different issuers: Franklin Templeton and Alpha Architect. Their fees differ too: 0.09% for FLJH and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.59 vs 2.77), 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.