FLJP vs. JPXN

Last updated Jun 7, 2026

FLJP (Franklin FTSE Japan ETF) and JPXN (iShares JPX-Nikkei 400 ETF) are both Japan Equities funds - FLJP tracks the FTSE Japan RIC Capped Index while JPXN tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 5 years, FLJP returned 8.38%/yr vs 8.01%/yr for JPXN. With a 0.97 correlation, they move nearly in lockstep. FLJP charges 0.09%/yr vs 0.48%/yr for JPXN.

Performance

FLJP vs. JPXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan ETF (FLJP) and iShares JPX-Nikkei 400 ETF (JPXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLJP achieves a 12.80% return, which is significantly higher than JPXN's 12.08% return.

FLJP

• 1D: -3.24%
• 1M: -0.10%
• YTD: 12.80%
• 6M: 13.09%
• 1Y: 29.36%
• 3Y*: 16.84%
• 5Y*: 8.38%
• 10Y*: —

JPXN

• 1D: -3.23%
• 1M: -1.53%
• YTD: 12.08%
• 6M: 12.29%
• 1Y: 27.00%
• 3Y*: 15.95%
• 5Y*: 8.01%
• 10Y*: 8.65%

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

FLJP vs. JPXN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJP Franklin FTSE Japan ETF	12.80%	26.79%	6.99%	20.00%	-16.57%	0.99%	15.76%	18.99%	-14.01%	2.22%
JPXN iShares JPX-Nikkei 400 ETF	12.08%	26.03%	6.48%	19.69%	-16.29%	0.16%	15.12%	19.40%	-14.87%	2.10%

Correlation

The correlation between FLJP and JPXN is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.97

The correlation between FLJP and JPXN has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

FLJP vs. JPXN - Sectors Allocation Comparison

Sectors	FLJP	JPXN
Industrials	25.0%	28.3%
Technology	20.3%	17.3%
Financial Services	15.7%	13.7%
Consumer Cyclical	12.4%	11.3%
Communication Services	6.1%	7.8%
Healthcare	5.9%	6.2%
Basic Materials	5.0%	5.0%
Consumer Defensive	3.9%	4.8%
Real Estate	2.9%	2.8%
Utilities	1.2%	1.6%
Energy	0.9%	1.4%

Return for Risk

FLJP vs. JPXN — Risk / Return Rank

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

FLJP

FLJP Risk / Return Rank: 48
FLJP Sharpe Ratio Rank: 47
FLJP Sortino Ratio Rank: 47
FLJP Omega Ratio Rank: 49
FLJP Calmar Ratio Rank: 47
FLJP Martin Ratio Rank: 49

JPXN

JPXN Risk / Return Rank: 45
JPXN Sharpe Ratio Rank: 44
JPXN Sortino Ratio Rank: 44
JPXN Omega Ratio Rank: 45
JPXN Calmar Ratio Rank: 44
JPXN Martin Ratio Rank: 47

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. JPXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan ETF (FLJP) and iShares JPX-Nikkei 400 ETF (JPXN). 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.

	FLJP	JPXN	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.46	+0.11
Sortino ratio: Return per unit of downside risk	2.26	2.13	+0.13
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.26	2.13	+0.14
Martin ratio: Return relative to average drawdown	7.88	7.39	+0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLJP vs. JPXN - Sharpe Ratio Comparison

The current FLJP Sharpe Ratio is 1.57, which is comparable to the JPXN Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FLJP and JPXN, 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

	FLJP	JPXN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.46	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.45	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.26	+0.17

Drawdowns

FLJP vs. JPXN - Drawdown Comparison

The maximum FLJP drawdown since its inception was -32.49%, smaller than the maximum JPXN drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for FLJP and JPXN.

Drawdown Indicators

	FLJP	JPXN	Difference
Max Drawdown Largest peak-to-trough decline	-32.49%	-55.54%	+23.05%
Max Drawdown (1Y) Largest decline over 1 year	-13.30%	-13.11%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-13.95%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-32.49%	-33.21%	+0.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.21%	—
Current Drawdown Current decline from peak	-3.24%	-4.04%	+0.80%
Average Drawdown Average peak-to-trough decline	-9.36%	-15.05%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	3.76%	+0.05%

Volatility

FLJP vs. JPXN - Volatility Comparison

Franklin FTSE Japan ETF (FLJP) and iShares JPX-Nikkei 400 ETF (JPXN) have volatilities of 4.65% and 4.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJP	JPXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	4.69%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	15.11%	15.07%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	19.17%	19.05%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	17.75%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	17.08%	+0.74%

FLJP vs. JPXN - Expense Ratio Comparison

FLJP has a 0.09% expense ratio, which is lower than JPXN's 0.48% expense ratio.

Dividends

FLJP vs. JPXN - Dividend Comparison

FLJP's dividend yield for the trailing twelve months is around 4.56%, more than JPXN's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLJP Franklin FTSE Japan ETF	4.56%	5.15%	4.56%	3.00%	1.92%	2.40%	1.51%	2.26%	1.50%	0.10%	0.00%	0.00%
JPXN iShares JPX-Nikkei 400 ETF	2.80%	3.14%	2.29%	2.57%	1.47%	2.63%	1.27%	1.92%	1.60%	1.50%	2.07%	1.32%

Frequently Asked Questions

Can I hold both FLJP and JPXN in my portfolio?

With a correlation of 0.99, FLJP and JPXN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FLJP or JPXN?

JPXN has higher volatility (4.69%) compared to FLJP (4.65%). In terms of maximum drawdown, FLJP dropped -32.49% vs JPXN's -55.54%.

Which ETF is better, FLJP or JPXN?

On 5-year performance, FLJP leads with 8.38% vs 8.01% for JPXN. On fees, FLJP is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLJP or JPXN?

Over the 5-year period, FLJP has performed better with a 8.38% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJP or JPXN?

FLJP is cheaper with a 0.09% expense ratio, compared with 0.48% for JPXN.

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

FLJP has the higher dividend yield at 4.56%, compared with 2.80% for JPXN.

What is the main difference between FLJP and JPXN?

FLJP tracks FTSE Japan RIC Capped Index, while JPXN tracks JPX-Nikkei Index 400. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLJP and 0.48% for JPXN.

Which has better risk-adjusted returns?

FLJP currently has the higher Sharpe Ratio (1.57 vs 1.46), 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.