JAPN vs. FXN
JAPN (Horizon Kinetics Japan Owner Operator ETF) and FXN (First Trust Energy AlphaDEX Fund) are both exchange-traded funds - JAPN is a Japan Equities fund actively managed by Horizon, while FXN is a Energy Equities fund tracking the StrataQuant Energy Index. JAPN is actively managed, while FXN is passively managed. Over the past year, JAPN returned -16.72% vs 52.01% for FXN. At a correlation of -0.07, they often move in opposite directions. JAPN charges 0.85%/yr vs 0.64%/yr for FXN.
Performance
JAPN vs. FXN - Performance Comparison
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Returns By Period
In the year-to-date period, JAPN achieves a -13.33% return, which is significantly lower than FXN's 36.03% return.
JAPN
- 1D
- -1.75%
- 1M
- -2.99%
- YTD
- -13.33%
- 6M
- -13.01%
- 1Y
- -16.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXN
- 1D
- 1.09%
- 1M
- -1.59%
- YTD
- 36.03%
- 6M
- 30.89%
- 1Y
- 52.01%
- 3Y*
- 16.66%
- 5Y*
- 17.30%
- 10Y*
- 6.52%
JAPN vs. FXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JAPN Horizon Kinetics Japan Owner Operator ETF | -13.33% | 2.80% |
FXN First Trust Energy AlphaDEX Fund | 36.03% | 6.64% |
Correlation
The correlation between JAPN and FXN is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | -0.07 |
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Return for Risk
JAPN vs. FXN — Risk / Return Rank
JAPN
FXN
JAPN vs. FXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Japan Owner Operator ETF (JAPN) and First Trust Energy AlphaDEX Fund (FXN). 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.
| JAPN | FXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.13 | ||
| Sortino ratioReturn per unit of downside risk | -4.02 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.35 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 4.42 | -5.12 |
| Martin ratioReturn relative to average drawdown | -1.34 | 12.53 | -13.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JAPN | FXN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | 2.23 | -3.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.06 | -0.60 |
Drawdowns
JAPN vs. FXN - Drawdown Comparison
The maximum JAPN drawdown since its inception was -23.94%, smaller than the maximum FXN drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for JAPN and FXN.
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Drawdown Indicators
| JAPN | FXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.94% | -87.39% | +63.45% |
Max Drawdown (1Y)Largest decline over 1 year | -23.94% | -11.82% | -12.12% |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.63% | — |
Current DrawdownCurrent decline from peak | -22.90% | -3.71% | -19.19% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -37.99% | +28.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.54% | 4.17% | +8.37% |
Volatility
JAPN vs. FXN - Volatility Comparison
The current volatility for Horizon Kinetics Japan Owner Operator ETF (JAPN) is 4.33%, while First Trust Energy AlphaDEX Fund (FXN) has a volatility of 7.52%. This indicates that JAPN experiences smaller price fluctuations and is considered to be less risky than FXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAPN | FXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 7.52% | -3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.41% | 17.08% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.77% | 23.55% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.24% | 28.92% | -9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.24% | 35.00% | -15.76% |
JAPN vs. FXN - Expense Ratio Comparison
JAPN has a 0.85% expense ratio, which is higher than FXN's 0.64% expense ratio.
Dividends
JAPN vs. FXN - Dividend Comparison
JAPN's dividend yield for the trailing twelve months is around 0.28%, less than FXN's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 1.76% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
JAPN Horizon Kinetics Japan Owner Operator ETF | 0.28% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JAPN and FXN have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXN has higher volatility (7.52%) compared to JAPN (4.33%). In terms of maximum drawdown, JAPN dropped -23.94% vs FXN's -87.39%.
On 1-year performance, FXN leads with 52.01% vs -16.72% for JAPN. On fees, FXN is cheaper at 0.64% per year. On volatility, JAPN has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FXN has performed better with a 52.01% return vs -16.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXN is cheaper with a 0.64% expense ratio, compared with 0.85% for JAPN.
FXN has the higher dividend yield at 1.76%, compared with 0.28% for JAPN.
JAPN is categorized as Japan Equities, while FXN is Energy Equities. They also come from different issuers: Horizon and First Trust. Their fees differ too: 0.85% for JAPN and 0.64% for FXN.
FXN currently has the higher Sharpe Ratio (2.23 vs -0.90), 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.
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