FTMA vs. FLJH

Last updated Jun 4, 2026

FTMA (Franklin Massachusetts Municipal Income ETF) and FLJH (Franklin FTSE Japan Hedged ETF) are both exchange-traded funds - FTMA is a Municipal Bonds fund tracking the Actively Managed, while FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. At a 0.34 correlation, their price movements are largely independent. FTMA charges 0.35%/yr vs 0.09%/yr for FLJH.

Performance

FTMA vs. FLJH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Massachusetts Municipal Income ETF (FTMA) 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, FTMA achieves a 2.06% return, which is significantly lower than FLJH's 20.31% return.

FTMA

• 1D: -0.06%
• 1M: 0.80%
• YTD: 2.06%
• 6M: 2.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLJH

• 1D: 0.71%
• 1M: 8.59%
• YTD: 20.31%
• 6M: 18.71%
• 1Y: 46.83%
• 3Y*: 27.99%
• 5Y*: 20.80%
• 10Y*: —

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

FTMA vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025
FTMA Franklin Massachusetts Municipal Income ETF	2.06%	0.43%
FLJH Franklin FTSE Japan Hedged ETF	20.31%	-1.37%

Correlation

The correlation between FTMA and FLJH is 0.34, 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 Nov 11, 2025	0.34

Return for Risk

FTMA vs. FLJH — Risk / Return Rank

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

FLJH

FLJH Risk / Return Rank: 80
FLJH Sharpe Ratio Rank: 79
FLJH Sortino Ratio Rank: 79
FLJH Omega Ratio Rank: 79
FLJH Calmar Ratio Rank: 82
FLJH Martin Ratio Rank: 83

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.

FTMA vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) 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.

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

Sharpe Ratios by Period

	FTMA	FLJH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.62	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	0.75	+0.55

Drawdowns

FTMA vs. FLJH - Drawdown Comparison

The maximum FTMA drawdown since its inception was -2.27%, smaller than the maximum FLJH drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for FTMA and FLJH.

Drawdown Indicators

	FTMA	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-31.51%	+29.24%
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	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.51%	-5.32%	+4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.75%	—

Volatility

Volatility by Period

	FTMA	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	17.98%	-14.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	18.51%	-14.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	19.82%	-16.30%

FTMA vs. FLJH - Expense Ratio Comparison

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

Dividends

FTMA vs. FLJH - Dividend Comparison

FTMA's dividend yield for the trailing twelve months is around 1.96%, less than FLJH's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJH Franklin FTSE Japan Hedged ETF	3.24%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%
FTMA Franklin Massachusetts Municipal Income ETF	1.96%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTMA and FLJH in my portfolio?

FTMA and FLJH have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMA 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, FTMA or FLJH?

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

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

FLJH has the higher dividend yield at 3.24%, compared with 1.96% for FTMA.

What is the main difference between FTMA and FLJH?

FTMA is categorized as Municipal Bonds, while FLJH is Japan Equities. FTMA tracks Actively Managed, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index. Their fees differ too: 0.35% for FTMA and 0.09% for FLJH.