FLJH vs. PXF

Last updated Jun 14, 2026

FLJH (Franklin FTSE Japan Hedged ETF) and PXF (Invesco FTSE RAFI Developed Markets ex-U.S. 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 PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index. Both are passively managed. Over the past 5 years, FLJH returned 20.54%/yr vs 13.18%/yr for PXF. A 0.65 correlation means they provide meaningful diversification when combined. FLJH charges 0.09%/yr vs 0.45%/yr for PXF.

Performance

FLJH vs. PXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan Hedged ETF (FLJH) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FLJH having a 18.85% return and PXF slightly lower at 18.79%.

FLJH

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

PXF

• 1D: 0.34%
• 1M: 0.69%
• YTD: 18.79%
• 6M: 20.98%
• 1Y: 41.20%
• 3Y*: 23.81%
• 5Y*: 13.18%
• 10Y*: 12.26%

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

FLJH vs. PXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	18.79%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	2.04%

Correlation

The correlation between FLJH and PXF is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.65

The correlation between FLJH and PXF has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.

FLJH vs. PXF - Sectors Allocation Comparison

Sectors	FLJH	PXF
Industrials	25.2%	14.6%
Technology	19.4%	14.7%
Financial Services	15.8%	19.1%
Consumer Cyclical	12.7%	10.4%
Communication Services	8.0%	4.3%
Healthcare	5.5%	6.8%
Basic Materials	4.4%	10.1%
Consumer Defensive	4.0%	5.7%
Real Estate	3.0%	1.6%
Utilities	1.2%	3.2%
Energy	0.9%	9.5%

Return for Risk

FLJH vs. PXF — Risk / Return Rank

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

FLJH

FLJH Risk / Return Rank: 86
FLJH Sharpe Ratio Rank: 87
FLJH Sortino Ratio Rank: 86
FLJH Omega Ratio Rank: 85
FLJH Calmar Ratio Rank: 86
FLJH Martin Ratio Rank: 87

PXF

PXF Risk / Return Rank: 83
PXF Sharpe Ratio Rank: 87
PXF Sortino Ratio Rank: 84
PXF Omega Ratio Rank: 85
PXF Calmar Ratio Rank: 80
PXF Martin Ratio Rank: 80

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. PXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan Hedged ETF (FLJH) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). 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	PXF	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.47	-0.01
Sortino ratio: Return per unit of downside risk	3.35	3.25	+0.10
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	4.20	3.66	+0.54
Martin ratio: Return relative to average drawdown	16.28	13.76	+2.52

FLJH vs. PXF - Sharpe Ratio Comparison

The current FLJH Sharpe Ratio is 2.46, which is comparable to the PXF Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FLJH and PXF, 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. PXF - Drawdown Comparison

The maximum FLJH drawdown since its inception was -31.51%, smaller than the maximum PXF drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for FLJH and PXF.

Drawdown Indicators

	FLJH	PXF	Difference
Max Drawdown Largest peak-to-trough decline	-31.51%	-64.74%	+33.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-10.91%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	-14.06%	-6.33%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	-26.82%	+6.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.59%	—
Current Drawdown Current decline from peak	-1.30%	-2.04%	+0.74%
Average Drawdown Average peak-to-trough decline	-5.30%	-15.25%	+9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.90%	-0.12%

Volatility

FLJH vs. PXF - Volatility Comparison

The current volatility for Franklin FTSE Japan Hedged ETF (FLJH) is 5.20%, while Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a volatility of 6.76%. This indicates that FLJH experiences smaller price fluctuations and is considered to be less risky than PXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJH	PXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	6.76%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	14.09%	13.95%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	16.18%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.61%	16.62%	+1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	18.07%	+1.77%

FLJH vs. PXF - Expense Ratio Comparison

FLJH has a 0.09% expense ratio, which is lower than PXF's 0.45% expense ratio.

Dividends

FLJH vs. PXF - Dividend Comparison

FLJH's dividend yield for the trailing twelve months is around 3.28%, more than PXF's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.12%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%

Frequently Asked Questions

Can I hold both FLJH and PXF in my portfolio?

FLJH and PXF have a correlation of 0.69, 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 PXF?

PXF has higher volatility (6.76%) compared to FLJH (5.20%). In terms of maximum drawdown, FLJH dropped -31.51% vs PXF's -64.74%.

Which ETF is better, FLJH or PXF?

On 5-year performance, FLJH leads with 20.54% vs 13.18% for PXF. 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.

Which ETF has performed better, FLJH or PXF?

Over the 5-year period, FLJH has performed better with a 20.54% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJH or PXF?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.45% for PXF.

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

FLJH has the higher dividend yield at 3.28%, compared with 3.12% for PXF.

What is the main difference between FLJH and PXF?

FLJH is categorized as Japan Equities, while PXF is Foreign Large Cap Equities. FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index, while PXF tracks FTSE RAFI Developed Markets ex-U.S. Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.09% for FLJH and 0.45% for PXF.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.47 vs 2.46), 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.