JPY vs. FLJP

Last updated Aug 2, 2026

JPY (Lazard Japanese Equity ETF) and FLJP (Franklin FTSE Japan ETF) are both Japan Equities funds. JPY is actively managed, while FLJP is passively managed. Over the past year, JPY returned 32.90% vs 29.28% for FLJP. Their 0.95 correlation means they have historically moved very closely together. JPY charges 0.60%/yr vs 0.09%/yr for FLJP.

Performance

JPY vs. FLJP - Performance Comparison

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

Returns By Period

In the year-to-date period, JPY achieves a 17.35% return, which is significantly higher than FLJP's 14.80% return.

JPY

• 1D: -0.99%
• 1M: 0.13%
• 6M: 11.59%
• YTD: 17.35%
• 1Y: 32.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.86%

FLJP

• 1D: -0.98%
• 1M: -1.06%
• 6M: 8.11%
• YTD: 14.80%
• 1Y: 29.28%
• 3Y*: 17.41%
• 5Y*: 9.38%
• 10Y*: —
• ALL TIME*: 7.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLJP Franklin FTSE Japan ETF	$34.44M	$45.56M	$43.61M
JPY Lazard Japanese Equity ETF	$117.81K	$120.64K	$196.88K

JPY vs. FLJP - Yearly Performance Comparison

	2026 (YTD)	2025
JPY Lazard Japanese Equity ETF	17.35%	39.95%
FLJP Franklin FTSE Japan ETF	14.80%	36.99%

Correlation

The correlation between JPY and FLJP is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.95

The correlation between JPY and FLJP has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

JPY vs. FLJP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JPY

JPY Risk / Return Rank: 68
JPY Sharpe Ratio Rank: 73
JPY Sortino Ratio Rank: 71
JPY Omega Ratio Rank: 73
JPY Calmar Ratio Rank: 63
JPY Martin Ratio Rank: 62

FLJP

FLJP Risk / Return Rank: 65
FLJP Sharpe Ratio Rank: 66
FLJP Sortino Ratio Rank: 65
FLJP Omega Ratio Rank: 67
FLJP Calmar Ratio Rank: 66
FLJP Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JPY vs. FLJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Japanese Equity ETF (JPY) and Franklin FTSE Japan ETF (FLJP). 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.

	JPY	FLJP	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.51	+0.17
Sortino ratio: Return per unit of downside risk	2.33	2.14	+0.20
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.23	2.27	-0.05
Martin ratio: Return relative to average drawdown	7.53	7.59	-0.06

JPY vs. FLJP - Sharpe Ratio Comparison

The current JPY Sharpe Ratio is 1.68, which is comparable to the FLJP Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of JPY and FLJP, 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

JPY vs. FLJP - Drawdown Comparison

The maximum JPY drawdown since its inception was -15.13%, smaller than the maximum FLJP drawdown of -32.49%. Use the drawdown chart below to compare losses from any high point for JPY and FLJP.

Drawdown Indicators

	JPY	FLJP	Difference
Max Drawdown Largest peak-to-trough decline	-15.13%	-32.49%	+17.36%
Max Drawdown (1Y) Largest decline over 1 year	-15.13%	-13.30%	-1.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.49%	—
Current Drawdown Current decline from peak	-1.98%	-4.24%	+2.26%
Average Drawdown Average peak-to-trough decline	-2.52%	-9.25%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.98%	+0.48%

Volatility

JPY vs. FLJP - Volatility Comparison

The current volatility for Lazard Japanese Equity ETF (JPY) is 6.16%, while Franklin FTSE Japan ETF (FLJP) has a volatility of 7.24%. This indicates that JPY experiences smaller price fluctuations and is considered to be less risky than FLJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPY	FLJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	7.24%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	16.09%	16.93%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	20.03%	20.04%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	18.12%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	17.94%	+3.08%

JPY vs. FLJP - Expense Ratio Comparison

JPY has a 0.60% expense ratio, which is higher than FLJP's 0.09% expense ratio.

Dividends

JPY vs. FLJP - Dividend Comparison

JPY's dividend yield for the trailing twelve months is around 1.18%, less than FLJP's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJP Franklin FTSE Japan ETF	4.29%	5.15%	4.56%	3.00%	1.92%	2.40%	1.51%	2.26%	1.50%	0.10%
JPY Lazard Japanese Equity ETF	1.18%	2.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPY and FLJP in my portfolio?

With a correlation of 0.94, JPY and FLJP 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, JPY or FLJP?

FLJP has higher volatility (7.24%) compared to JPY (6.16%). In terms of maximum drawdown, JPY dropped -15.13% vs FLJP's -32.49%.

Which ETF is better, JPY or FLJP?

On 1-year performance, JPY leads with 32.90% vs 29.28% for FLJP. On fees, FLJP is cheaper at 0.09% per year. On volatility, JPY has been the lower-risk option at 6.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPY or FLJP?

Over the 1-year period, JPY has performed better with a 32.90% return vs 29.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPY or FLJP?

FLJP is cheaper with a 0.09% expense ratio, compared with 0.60% for JPY.

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

FLJP has the higher dividend yield at 4.29%, compared with 1.18% for JPY.

What is the main difference between JPY and FLJP?

They also come from different issuers: Lazard and Franklin Templeton. Their fees differ too: 0.60% for JPY and 0.09% for FLJP.

Which has better risk-adjusted returns?

JPY currently has the higher Sharpe Ratio (1.68 vs 1.51), 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.