FTCA vs. FLJH

Last updated Jul 17, 2026

FTCA (Franklin California Municipal Income ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both exchange-traded funds - FTCA is a Municipal Bonds fund actively managed by Franklin Templeton, while FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index. FTCA is actively managed, while FLJH is passively managed. At a 0.25 correlation, their price movements are largely independent. FTCA charges 0.35%/yr vs 0.09%/yr for FLJH.

Performance

FTCA vs. FLJH - Performance Comparison

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

Returns By Period

In the year-to-date period, FTCA achieves a 2.45% return, which is significantly lower than FLJH's 20.27% return.

FTCA

• 1D: -0.20%
• 1M: -0.07%
• 6M: 1.69%
• YTD: 2.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLJH

• 1D: -1.55%
• 1M: -0.89%
• 6M: 12.70%
• YTD: 20.27%
• 1Y: 44.73%
• 3Y*: 27.57%
• 5Y*: 21.36%
• 10Y*: —

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

FTCA vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025
FTCA Franklin California Municipal Income ETF	2.45%	-0.08%
FLJH Franklin FTSE Japan Hedged ETF	20.27%	0.50%

Correlation

The correlation between FTCA and FLJH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	0.25

Return for Risk

FTCA vs. FLJH — Risk / Return Rank

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

FTCA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FLJH

FLJH Risk / Return Rank: 88
FLJH Sharpe Ratio Rank: 89
FLJH Sortino Ratio Rank: 85
FLJH Omega Ratio Rank: 87
FLJH Calmar Ratio Rank: 89
FLJH 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.

FTCA vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin California Municipal Income ETF (FTCA) and Franklin FTSE Japan Hedged ETF (FLJH). 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.

	FTCA	FLJH	Difference
Sharpe ratio: Return per unit of total volatility	—	2.33	—
Sortino ratio: Return per unit of downside risk	—	3.11	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	4.16	—
Martin ratio: Return relative to average drawdown	—	15.64	—

Drawdowns

FTCA vs. FLJH - Drawdown Comparison

The maximum FTCA drawdown since its inception was -2.92%, smaller than the maximum FLJH drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for FTCA and FLJH.

Drawdown Indicators

	FTCA	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-2.92%	-31.51%	+28.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.80%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.39%	—
Current Drawdown Current decline from peak	-0.88%	-4.01%	+3.13%
Average Drawdown Average peak-to-trough decline	-0.59%	-5.27%	+4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.87%	—

Volatility

Volatility by Period

	FTCA	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.37%	19.26%	-15.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.37%	18.72%	-15.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.37%	19.88%	-16.51%

FTCA vs. FLJH - Expense Ratio Comparison

FTCA has a 0.35% expense ratio, which is higher than FLJH's 0.09% expense ratio.

Dividends

FTCA vs. FLJH - Dividend Comparison

FTCA's dividend yield for the trailing twelve months is around 2.68%, more than FLJH's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJH Franklin FTSE Japan Hedged ETF	2.50%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%
FTCA Franklin California Municipal Income ETF	2.68%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTCA and FLJH in my portfolio?

FTCA and FLJH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTCA or FLJH?

On fees, FLJH is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTCA or FLJH?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.35% for FTCA.

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

FTCA has the higher dividend yield at 2.68%, compared with 2.50% for FLJH.

What is the main difference between FTCA and FLJH?

FTCA is categorized as Municipal Bonds, while FLJH is Japan Equities. Their fees differ too: 0.35% for FTCA and 0.09% for FLJH.