First Trust Japan AlphaDEX ETF (FJP Quick QuoteFJP - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 81.3% from its 52-week low price of $43.52/share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.

FJP in Focus

The underlying NASDAQ AlphaDEX Japan Index is an enhanced index which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ Japan Index. The product charges 80 bps in annual fees and yields 2.31% annually (see: all Asia-Pacific (Developed) ETFs here).

Why the Move?

Japan ETFs are rallying as Prime Minister Sanae Takaichi’s landslide election victory on Feb. 8, 2026, strengthened expectations for pro-growth policies, including fiscal stimulus, tax reforms and deregulation, which could accelerate corporate earnings and economic expansion. This along with improved growth forecasts from the Bank of Japan has boosted investor sentiment toward Japanese equities.

More Gains Ahead?

Currently, FJP has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. It might continue its strong performance in the near term, with a positive weighted alpha of 54.94 (per Barchart.com), which gives cues of a modest rally ahead.