FLJP vs. FLEU

Last updated Jun 24, 2026

FLJP (Franklin FTSE Japan ETF) and FLEU (Franklin FTSE Eurozone ETF) are both exchange-traded funds - FLJP is a Japan Equities fund tracking the FTSE Japan RIC Capped Index, while FLEU is a Europe Equities fund tracking the FTSE Developed Eurozone Index - Benchmark TR Net. Both are passively managed. Over the past 5 years, FLJP returned 9.15%/yr vs 11.75%/yr for FLEU. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.

Performance

FLJP vs. FLEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan ETF (FLJP) and Franklin FTSE Eurozone ETF (FLEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLJP achieves a 15.09% return, which is significantly higher than FLEU's 7.40% return.

FLJP

• 1D: -4.00%
• 1M: 1.04%
• YTD: 15.09%
• 6M: 14.43%
• 1Y: 33.85%
• 3Y*: 18.60%
• 5Y*: 9.15%
• 10Y*: —

FLEU

• 1D: -1.70%
• 1M: 1.76%
• YTD: 7.40%
• 6M: 7.90%
• 1Y: 20.48%
• 3Y*: 17.50%
• 5Y*: 11.75%
• 10Y*: —

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

FLJP vs. FLEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJP Franklin FTSE Japan ETF	15.09%	26.79%	6.99%	20.00%	-16.57%	0.99%	15.76%	18.99%	-14.01%	2.53%
FLEU Franklin FTSE Eurozone ETF	7.40%	41.56%	2.26%	16.21%	-9.14%	23.27%	0.95%	26.94%	-8.54%	-1.24%

Correlation

The correlation between FLJP and FLEU 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	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.61

The correlation between FLJP and FLEU has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

FLJP vs. FLEU - Sectors Allocation Comparison

Sectors	FLJP	FLEU
Industrials	24.0%	20.7%
Technology	20.9%	16.3%
Financial Services	16.9%	24.6%
Consumer Cyclical	12.1%	8.6%
Communication Services	5.9%	3.6%
Healthcare	5.8%	5.6%
Basic Materials	4.7%	4.2%
Consumer Defensive	4.1%	5.0%
Real Estate	3.0%	1.2%
Utilities	1.3%	6.6%
Energy	0.9%	3.7%

Return for Risk

FLJP vs. FLEU — Risk / Return Rank

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

FLJP

FLJP Risk / Return Rank: 53
FLJP Sharpe Ratio Rank: 52
FLJP Sortino Ratio Rank: 51
FLJP Omega Ratio Rank: 53
FLJP Calmar Ratio Rank: 54
FLJP Martin Ratio Rank: 53

FLEU

FLEU Risk / Return Rank: 34
FLEU Sharpe Ratio Rank: 34
FLEU Sortino Ratio Rank: 35
FLEU Omega Ratio Rank: 34
FLEU Calmar Ratio Rank: 32
FLEU Martin Ratio Rank: 37

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.

FLJP vs. FLEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan ETF (FLJP) and Franklin FTSE Eurozone ETF (FLEU). 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.

	FLJP	FLEU	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.18	+0.54
Sortino ratio: Return per unit of downside risk	2.40	1.75	+0.65
Omega ratio: Gain probability vs. loss probability	1.32	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	2.56	1.53	+1.02
Martin ratio: Return relative to average drawdown	8.86	5.57	+3.29

FLJP vs. FLEU - Sharpe Ratio Comparison

The current FLJP Sharpe Ratio is 1.71, which is higher than the FLEU Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FLJP and FLEU, 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

FLJP vs. FLEU - Drawdown Comparison

The maximum FLJP drawdown since its inception was -32.49%, roughly equal to the maximum FLEU drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for FLJP and FLEU.

Drawdown Indicators

	FLJP	FLEU	Difference
Max Drawdown Largest peak-to-trough decline	-32.49%	-33.94%	+1.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.30%	-13.41%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-15.67%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-32.49%	-18.67%	-13.82%
Current Drawdown Current decline from peak	-4.00%	-2.00%	-2.00%
Average Drawdown Average peak-to-trough decline	-9.32%	-4.68%	-4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	3.69%	+0.14%

Volatility

FLJP vs. FLEU - Volatility Comparison

Franklin FTSE Japan ETF (FLJP) has a higher volatility of 7.16% compared to Franklin FTSE Eurozone ETF (FLEU) at 5.38%. This indicates that FLJP's price experiences larger fluctuations and is considered to be riskier than FLEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJP	FLEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	5.38%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	16.00%	15.05%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	19.84%	17.53%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	16.47%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	18.27%	-0.39%

FLJP vs. FLEU - Expense Ratio Comparison

Both FLJP and FLEU 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

FLJP vs. FLEU - Dividend Comparison

FLJP's dividend yield for the trailing twelve months is around 3.83%, more than FLEU's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLEU Franklin FTSE Eurozone ETF	1.08%	2.22%	3.18%	3.25%	21.45%	3.03%	1.94%	6.06%	12.17%	0.07%
FLJP Franklin FTSE Japan ETF	3.83%	5.15%	4.56%	3.00%	1.92%	2.40%	1.51%	2.26%	1.50%	0.10%

Frequently Asked Questions

Can I hold both FLJP and FLEU in my portfolio?

FLJP and FLEU 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, FLJP or FLEU?

FLJP has higher volatility (7.16%) compared to FLEU (5.38%). In terms of maximum drawdown, FLJP dropped -32.49% vs FLEU's -33.94%.

Which ETF is better, FLJP or FLEU?

On 5-year performance, FLEU leads with 11.75% vs 9.15% for FLJP. Both ETFs have the same 0.09% expense ratio. On volatility, FLEU has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLJP or FLEU?

Over the 5-year period, FLEU has performed better with a 11.75% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJP or FLEU?

FLJP and FLEU have the same expense ratio: 0.09% per year.

Which ETF pays a higher dividend yield, FLJP or FLEU?

FLJP has the higher dividend yield at 3.83%, compared with 1.08% for FLEU.

What is the main difference between FLJP and FLEU?

FLJP is categorized as Japan Equities, while FLEU is Europe Equities. FLJP tracks FTSE Japan RIC Capped Index, while FLEU tracks FTSE Developed Eurozone Index - Benchmark TR Net.

Which has better risk-adjusted returns?

FLJP currently has the higher Sharpe Ratio (1.71 vs 1.18), 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.