UTES vs. FJP

Last updated Jun 13, 2026

UTES (Virtus Reaves Utilities ETF) and FJP (First Trust Japan AlphaDEX Fund) are both exchange-traded funds - UTES is a Utilities Equities fund actively managed by Virtus Investment Partners, while FJP is a Japan Equities fund tracking the NASDAQ AlphaDEX Japan Index. UTES is actively managed, while FJP is passively managed. Over the past 10 years, UTES returned 12.27%/yr vs 7.61%/yr for FJP. At a 0.22 correlation, their price movements are largely independent. UTES charges 0.49%/yr vs 0.80%/yr for FJP.

Performance

UTES vs. FJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Reaves Utilities ETF (UTES) and First Trust Japan AlphaDEX Fund (FJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTES achieves a 0.26% return, which is significantly lower than FJP's 12.56% return. Over the past 10 years, UTES has outperformed FJP with an annualized return of 12.27%, while FJP has yielded a comparatively lower 7.61% annualized return.

UTES

• 1D: 1.56%
• 1M: -0.82%
• YTD: 0.26%
• 6M: 0.49%
• 1Y: 8.95%
• 3Y*: 22.00%
• 5Y*: 15.32%
• 10Y*: 12.27%

FJP

• 1D: 1.05%
• 1M: -5.42%
• YTD: 12.56%
• 6M: 11.54%
• 1Y: 31.75%
• 3Y*: 19.57%
• 5Y*: 10.59%
• 10Y*: 7.61%

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

UTES vs. FJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTES Virtus Reaves Utilities ETF	0.26%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	25.48%	5.14%	14.21%
FJP First Trust Japan AlphaDEX Fund	12.56%	33.60%	5.80%	23.00%	-12.83%	-1.13%	3.60%	7.72%	-18.60%	27.63%

Correlation

The correlation between UTES and FJP is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.22

UTES vs. FJP - Sectors Allocation Comparison

Sectors	UTES	FJP
Utilities	100.0%	6.1%
Basic Materials	-	9.7%
Communication Services	-	0.7%
Consumer Cyclical	-	12.0%
Consumer Defensive	-	0.8%
Energy	-	4.2%
Financial Services	-	5.6%
Healthcare	-	3.6%
Industrials	-	45.0%
Real Estate	-	3.5%
Technology	-	8.9%

Return for Risk

UTES vs. FJP — Risk / Return Rank

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

UTES

UTES Risk / Return Rank: 16
UTES Sharpe Ratio Rank: 16
UTES Sortino Ratio Rank: 16
UTES Omega Ratio Rank: 15
UTES Calmar Ratio Rank: 18
UTES Martin Ratio Rank: 17

FJP

FJP Risk / Return Rank: 49
FJP Sharpe Ratio Rank: 50
FJP Sortino Ratio Rank: 49
FJP Omega Ratio Rank: 49
FJP Calmar Ratio Rank: 51
FJP Martin Ratio Rank: 45

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.

UTES vs. FJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and First Trust Japan AlphaDEX Fund (FJP). 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.

	UTES	FJP	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.53	-1.14
Sortino ratio: Return per unit of downside risk	0.67	2.14	-1.47
Omega ratio: Gain probability vs. loss probability	1.08	1.27	-0.19
Calmar ratio: Return relative to maximum drawdown	0.60	2.22	-1.62
Martin ratio: Return relative to average drawdown	1.32	6.55	-5.23

UTES vs. FJP - Sharpe Ratio Comparison

The current UTES Sharpe Ratio is 0.39, which is lower than the FJP Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of UTES and FJP, 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

UTES vs. FJP - Drawdown Comparison

The maximum UTES drawdown since its inception was -35.39%, smaller than the maximum FJP drawdown of -41.51%. Use the drawdown chart below to compare losses from any high point for UTES and FJP.

Drawdown Indicators

	UTES	FJP	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-41.51%	+6.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-14.43%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-17.62%	-17.02%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	-31.88%	+11.48%
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	-41.51%	+6.12%
Current Drawdown Current decline from peak	-9.10%	-7.75%	-1.35%
Average Drawdown Average peak-to-trough decline	-5.53%	-11.45%	+5.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.29%	4.89%	+1.40%

Volatility

UTES vs. FJP - Volatility Comparison

Virtus Reaves Utilities ETF (UTES) and First Trust Japan AlphaDEX Fund (FJP) have volatilities of 7.23% and 7.16%, 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

	UTES	FJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	7.16%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	17.43%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	21.00%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.62%	20.43%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	18.91%	+1.26%

UTES vs. FJP - Expense Ratio Comparison

UTES has a 0.49% expense ratio, which is lower than FJP's 0.80% expense ratio.

Dividends

UTES vs. FJP - Dividend Comparison

UTES's dividend yield for the trailing twelve months is around 1.49%, less than FJP's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJP First Trust Japan AlphaDEX Fund	2.53%	2.68%	3.18%	3.49%	2.21%	2.43%	0.99%	2.80%	1.54%	1.29%	1.46%	0.85%
UTES Virtus Reaves Utilities ETF	1.49%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both UTES and FJP in my portfolio?

UTES and FJP have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTES or FJP?

UTES has higher volatility (7.23%) compared to FJP (7.16%). In terms of maximum drawdown, UTES dropped -35.39% vs FJP's -41.51%.

Which ETF is better, UTES or FJP?

On 10-year performance, UTES leads with 12.27% vs 7.61% for FJP. On fees, UTES is cheaper at 0.49% 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, UTES or FJP?

Over the 10-year period, UTES has performed better with a 12.27% return vs 7.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTES or FJP?

UTES is cheaper with a 0.49% expense ratio, compared with 0.80% for FJP.

Which ETF pays a higher dividend yield, UTES or FJP?

FJP has the higher dividend yield at 2.53%, compared with 1.49% for UTES.

What is the main difference between UTES and FJP?

UTES is categorized as Utilities Equities, while FJP is Japan Equities. They also come from different issuers: Virtus Investment Partners and First Trust. Their fees differ too: 0.49% for UTES and 0.80% for FJP.

Which has better risk-adjusted returns?

FJP currently has the higher Sharpe Ratio (1.53 vs 0.39), 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.