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FLJH vs. EWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLJH vs. EWO

Last updated Jun 14, 2026

FLJH (Franklin FTSE Japan Hedged ETF) and EWO (iShares MSCI Austria 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 EWO is a Europe Equities fund tracking the MSCI Austria Investable Market Index. Both are passively managed. Over the past 5 years, FLJH returned 20.54%/yr vs 15.56%/yr for EWO. At a 0.50 correlation, their price movements are largely independent. FLJH charges 0.09%/yr vs 0.49%/yr for EWO.

Performance

FLJH vs. EWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan Hedged ETF (FLJH) and iShares MSCI Austria ETF (EWO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with FLJH having a 18.85% return and EWO slightly lower at 18.55%.

FLJH

1D
0.82%
1M
1.43%
YTD
18.85%
6M
15.00%
1Y
45.89%
3Y*
25.97%
5Y*
20.54%
10Y*
—

EWO

1D
1.37%
1M
6.75%
YTD
18.55%
6M
23.71%
1Y
48.35%
3Y*
33.19%
5Y*
15.56%
10Y*
15.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLJH vs. EWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLJH
Franklin FTSE Japan Hedged ETF		18.85%25.26%25.89%36.02%-2.75%12.68%10.65%20.34%-14.66%1.26%
EWO
iShares MSCI Austria ETF		18.55%74.21%4.05%20.63%-21.95%31.50%-3.67%17.05%-22.88%4.17%

Correlation

The correlation between FLJH and EWO 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

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.50

The correlation between FLJH and EWO has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.

FLJH vs. EWO - Sectors Allocation Comparison

Sectors
FLJH
EWO

Industrials

25.2%
14.5%

Technology

19.4%
5.7%

Financial Services

15.8%
47.3%

Consumer Cyclical

12.7%
3.6%

Communication Services

8.0%

-

Healthcare

5.5%

-

Basic Materials

4.4%
8.8%

Consumer Defensive

4.0%

-

Real Estate

3.0%
4.1%

Utilities

1.2%
6.5%

Energy

0.9%
9.7%

Industrials

FLJH
25.2%
EWO
14.5%

Technology

FLJH
19.4%
EWO
5.7%

Financial Services

FLJH
15.8%
EWO
47.3%

Consumer Cyclical

FLJH
12.7%
EWO
3.6%

Communication Services

FLJH
8.0%
EWO

-

Healthcare

FLJH
5.5%
EWO

-

Basic Materials

FLJH
4.4%
EWO
8.8%

Consumer Defensive

FLJH
4.0%
EWO

-

Real Estate

FLJH
3.0%
EWO
4.1%

Utilities

FLJH
1.2%
EWO
6.5%

Energy

FLJH
0.9%
EWO
9.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE Japan Hedged ETF

iShares MSCI Austria ETF

Often compared with FLJH:
FLJH vs. FLJPFLJH vs. EWJVFLJH vs. HEWJFLJH vs. DBJPFLJH vs. EWJFLJH vs. SCHDFLJH vs. OARK
Often compared with EWO:
EWO vs. EWAEWO vs. EWQEWO vs. EWLEWO vs. IBZL.LEWO vs. EEMEWO vs. EWGEWO vs. VOO

Return for Risk

FLJH vs. EWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLJH
FLJH Risk / Return Rank: 8686
Overall Rank
FLJH Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
FLJH Sortino Ratio Rank: 8686
Sortino Ratio Rank
FLJH Omega Ratio Rank: 8585
Omega Ratio Rank
FLJH Calmar Ratio Rank: 8686
Calmar Ratio Rank
FLJH Martin Ratio Rank: 8787
Martin Ratio Rank
EWO
EWO Risk / Return Rank: 7979
Overall Rank
EWO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
EWO Sortino Ratio Rank: 8585
Sortino Ratio Rank
EWO Omega Ratio Rank: 7979
Omega Ratio Rank
EWO Calmar Ratio Rank: 7474
Calmar Ratio Rank
EWO Martin Ratio Rank: 6969
Martin Ratio Rank
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. EWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan Hedged ETF (FLJH) and iShares MSCI Austria ETF (EWO). 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.

FLJHEWODifference
Sharpe ratioReturn per unit of total volatility
2.46
2.41

+0.05

Sortino ratioReturn per unit of downside risk
3.35
3.35

+0.01

Omega ratioGain probability vs. loss probability

1.45

1.41

+0.04

Calmar ratioReturn relative to maximum drawdown

4.20

3.28

+0.92

Martin ratioReturn relative to average drawdown

16.28

11.10

+5.18

FLJH vs. EWO - Sharpe Ratio Comparison

The current FLJH Sharpe Ratio is 2.46, which is comparable to the EWO Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FLJH and EWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLJH vs. EWO - Drawdown Comparison

The maximum FLJH drawdown since its inception was -31.51%, smaller than the maximum EWO drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for FLJH and EWO.

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Drawdown Indicators

FLJHEWODifference

Max Drawdown

Largest peak-to-trough decline

-31.51%

-75.69%

+44.18%

Max Drawdown (1Y)

Largest decline over 1 year

-10.80%

-14.08%

+3.28%

Max Drawdown (3Y)

Largest decline over 3 years

-20.39%

-16.75%

-3.64%

Max Drawdown (5Y)

Largest decline over 5 years

-20.39%

-41.82%

+21.43%

Max Drawdown (10Y)

Largest decline over 10 years

—

-58.10%

—

Current Drawdown

Current decline from peak

-1.30%

0.00%

-1.30%

Average Drawdown

Average peak-to-trough decline

-5.30%

-28.10%

+22.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.78%

4.16%

-1.38%

Volatility

FLJH vs. EWO - Volatility Comparison

The current volatility for Franklin FTSE Japan Hedged ETF (FLJH) is 5.20%, while iShares MSCI Austria ETF (EWO) has a volatility of 7.31%. This indicates that FLJH experiences smaller price fluctuations and is considered to be less risky than EWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLJHEWODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.20%

7.31%

-2.11%

Volatility (6M)

Calculated over the trailing 6-month period

14.09%

15.88%

-1.79%

Volatility (1Y)

Calculated over the trailing 1-year period

18.44%

19.19%

-0.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.61%

21.95%

-3.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.84%

22.88%

-3.04%

FLJH vs. EWO - Expense Ratio Comparison

FLJH has a 0.09% expense ratio, which is lower than EWO's 0.49% expense ratio.

Dividends

FLJH vs. EWO - Dividend Comparison

FLJH's dividend yield for the trailing twelve months is around 3.28%, more than EWO's 2.01% yield.

PositionTTM20252024202320222021202020192018201720162015
EWO
iShares MSCI Austria ETF		2.01%2.38%7.40%5.66%4.75%2.42%0.98%3.11%4.04%2.03%1.99%1.51%
FLJH
Franklin FTSE Japan Hedged ETF		3.28%3.90%5.06%25.59%26.67%1.29%0.00%0.00%5.92%0.10%0.00%0.00%

Frequently Asked Questions

FLJH and EWO 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.

EWO has higher volatility (7.31%) compared to FLJH (5.20%). In terms of maximum drawdown, FLJH dropped -31.51% vs EWO's -75.69%.

On 5-year performance, FLJH leads with 20.54% vs 15.56% for EWO. On fees, FLJH is cheaper at 0.09% per year. On volatility, FLJH has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLJH has performed better with a 20.54% return vs 15.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLJH is cheaper with a 0.09% expense ratio, compared with 0.49% for EWO.

FLJH has the higher dividend yield at 3.28%, compared with 2.01% for EWO.

FLJH is categorized as Japan Equities, while EWO is Europe Equities. FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index, while EWO tracks MSCI Austria Investable Market Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLJH and 0.49% for EWO.

FLJH currently has the higher Sharpe Ratio (2.46 vs 2.41), 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.

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