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Is First Trust Japan AlphaDEX ETF (FJP) a Strong ETF Right Now?
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Launched on 04/18/2011, the First Trust Japan AlphaDEX ETF (FJP - Free Report) is a smart beta exchange traded fund offering broad exposure to the Asia-Pacific (Developed) ETFs category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $233.48 million, making it one of the average sized ETFs in the Asia-Pacific (Developed) ETFs. FJP seeks to match the performance of the NASDAQ AlphaDEX Japan Index before fees and expenses.
The NASDAQ AlphaDEX Japan Index is an enhanced index which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ Japan Index.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.80% for FJP, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 2.45%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
Taking into account individual holdings, Modec, Inc. (6269.JP) accounts for about 1.86% of the fund's total assets, followed by Shimizu Corporation (1803.JP) and Mitsui Kinzoku Company, Ltd. (5706.JP).
FJP's top 10 holdings account for about 17.51% of its total assets under management.
Performance and Risk
Year-to-date, the First Trust Japan AlphaDEX ETF has gained about 9.1% so far, and it's up approximately 30.94% over the last 12 months (as of 03/18/2026). FJP has traded between $47.79 $81.97 in this past 52-week period.
FJP has a beta of 0.54 and standard deviation of 19.67% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 102 holdings, it effectively diversifies company-specific risk .
Alternatives
First Trust Japan AlphaDEX ETF is a reasonable option for investors seeking to outperform the Asia-Pacific (Developed) ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
JPMorgan BetaBuilders Japan ETF (BBJP) tracks MORNINGSTAR JAPAN TRGT MRKT EXPOSURE ID and the iShares MSCI Japan ETF (EWJ) tracks MSCI Japan Index. JPMorgan BetaBuilders Japan ETF has $15.26 billion in assets, iShares MSCI Japan ETF has $19.4 billion. BBJP has an expense ratio of 0.19% and EWJ changes 0.49%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Asia-Pacific (Developed) ETFs
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is First Trust Japan AlphaDEX ETF (FJP) a Strong ETF Right Now?
Launched on 04/18/2011, the First Trust Japan AlphaDEX ETF (FJP - Free Report) is a smart beta exchange traded fund offering broad exposure to the Asia-Pacific (Developed) ETFs category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $233.48 million, making it one of the average sized ETFs in the Asia-Pacific (Developed) ETFs. FJP seeks to match the performance of the NASDAQ AlphaDEX Japan Index before fees and expenses.
The NASDAQ AlphaDEX Japan Index is an enhanced index which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ Japan Index.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.80% for FJP, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 2.45%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
Taking into account individual holdings, Modec, Inc. (6269.JP) accounts for about 1.86% of the fund's total assets, followed by Shimizu Corporation (1803.JP) and Mitsui Kinzoku Company, Ltd. (5706.JP).
FJP's top 10 holdings account for about 17.51% of its total assets under management.
Performance and Risk
Year-to-date, the First Trust Japan AlphaDEX ETF has gained about 9.1% so far, and it's up approximately 30.94% over the last 12 months (as of 03/18/2026). FJP has traded between $47.79 $81.97 in this past 52-week period.
FJP has a beta of 0.54 and standard deviation of 19.67% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 102 holdings, it effectively diversifies company-specific risk .
Alternatives
First Trust Japan AlphaDEX ETF is a reasonable option for investors seeking to outperform the Asia-Pacific (Developed) ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
JPMorgan BetaBuilders Japan ETF (BBJP) tracks MORNINGSTAR JAPAN TRGT MRKT EXPOSURE ID and the iShares MSCI Japan ETF (EWJ) tracks MSCI Japan Index. JPMorgan BetaBuilders Japan ETF has $15.26 billion in assets, iShares MSCI Japan ETF has $19.4 billion. BBJP has an expense ratio of 0.19% and EWJ changes 0.49%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Asia-Pacific (Developed) ETFs
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.