FLJH vs. DIEM

Last updated Jun 4, 2026

FLJH (Franklin FTSE Japan Hedged ETF) and DIEM (Franklin Emerging Market Core Dividend Tilt Index 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 DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index. Both are passively managed. Over the past 5 years, FLJH returned 20.80%/yr vs 11.49%/yr for DIEM. A 0.50 correlation means they provide meaningful diversification when combined. FLJH charges 0.09%/yr vs 0.19%/yr for DIEM.

Performance

FLJH vs. DIEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan Hedged ETF (FLJH) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLJH achieves a 20.31% return, which is significantly lower than DIEM's 32.78% return.

FLJH

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

DIEM

• 1D: -1.37%
• 1M: 12.08%
• YTD: 32.78%
• 6M: 35.57%
• 1Y: 60.54%
• 3Y*: 28.35%
• 5Y*: 11.49%
• 10Y*: —

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

FLJH vs. DIEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	32.78%	30.81%	12.29%	15.41%	-20.61%	6.92%	1.27%	12.23%	-11.29%	2.92%

Correlation

The correlation between FLJH and DIEM 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	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.50

The correlation between FLJH and DIEM has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

FLJH vs. DIEM - Sectors Allocation Comparison

Sectors	FLJH	DIEM
Industrials	26.6%	4.7%
Technology	17.4%	40.3%
Financial Services	15.9%	23.3%
Consumer Cyclical	12.8%	6.7%
Communication Services	7.1%	5.6%
Healthcare	5.9%	0.6%
Basic Materials	4.3%	4.2%
Consumer Defensive	4.2%	2.9%
Real Estate	3.4%	1.6%
Utilities	1.3%	4.1%
Energy	1.0%	6.0%

Return for Risk

FLJH vs. DIEM — Risk / Return Rank

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

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

DIEM

DIEM Risk / Return Rank: 90
DIEM Sharpe Ratio Rank: 92
DIEM Sortino Ratio Rank: 90
DIEM Omega Ratio Rank: 92
DIEM Calmar Ratio Rank: 87
DIEM Martin Ratio Rank: 89

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. DIEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan Hedged ETF (FLJH) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). 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.

	FLJH	DIEM	Difference
Sharpe ratio Return per unit of total volatility	2.62	3.35	-0.73
Sortino ratio Return per unit of downside risk	3.61	4.26	-0.65
Omega ratio Gain probability vs. loss probability	1.48	1.62	-0.14
Calmar ratio Return relative to maximum drawdown	4.36	4.93	-0.58
Martin ratio Return relative to average drawdown	17.09	20.34	-3.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLJH vs. DIEM - Sharpe Ratio Comparison

The current FLJH Sharpe Ratio is 2.62, which is comparable to the DIEM Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of FLJH and DIEM, 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

	FLJH	DIEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	3.35	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	0.68	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.55	+0.20

Drawdowns

FLJH vs. DIEM - Drawdown Comparison

The maximum FLJH drawdown since its inception was -31.51%, smaller than the maximum DIEM drawdown of -38.61%. Use the drawdown chart below to compare losses from any high point for FLJH and DIEM.

Drawdown Indicators

	FLJH	DIEM	Difference
Max Drawdown Largest peak-to-trough decline	-31.51%	-38.61%	+7.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-12.33%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	-16.82%	-3.57%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	-33.34%	+12.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.61%	—
Current Drawdown Current decline from peak	0.00%	-1.37%	+1.37%
Average Drawdown Average peak-to-trough decline	-5.32%	-9.72%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.99%	-0.24%

Volatility

FLJH vs. DIEM - Volatility Comparison

The current volatility for Franklin FTSE Japan Hedged ETF (FLJH) is 3.45%, while Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) has a volatility of 8.52%. This indicates that FLJH experiences smaller price fluctuations and is considered to be less risky than DIEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJH	DIEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	8.52%	-5.07%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	15.91%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	17.98%	18.17%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	16.93%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	17.59%	+2.23%

FLJH vs. DIEM - Expense Ratio Comparison

FLJH has a 0.09% expense ratio, which is lower than DIEM'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. DIEM - Dividend Comparison

FLJH's dividend yield for the trailing twelve months is around 3.24%, more than DIEM's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.30%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
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%	0.00%

Frequently Asked Questions

Can I hold both FLJH and DIEM in my portfolio?

FLJH and DIEM 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, FLJH or DIEM?

DIEM has higher volatility (8.52%) compared to FLJH (3.45%). In terms of maximum drawdown, FLJH dropped -31.51% vs DIEM's -38.61%.

Which ETF is better, FLJH or DIEM?

On 5-year performance, FLJH leads with 20.80% vs 11.49% for DIEM. On fees, FLJH is cheaper at 0.09% per year. 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, FLJH or DIEM?

Over the 5-year period, FLJH has performed better with a 20.80% return vs 11.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJH or DIEM?

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

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

FLJH has the higher dividend yield at 3.24%, compared with 2.30% for DIEM.

What is the main difference between FLJH and DIEM?

FLJH is categorized as Japan Equities, while DIEM is Emerging Markets Diversified. FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index, while DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index. Their fees differ too: 0.09% for FLJH and 0.19% for DIEM.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.35 vs 2.62), 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.