FJP vs SPY
First Trust Japan AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FJP delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FJP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $262M | $821.1B | |
| Dividend Yield | 2.58% | 1.01% | |
| Holdings | 102 | 505 | |
| YTD Return | +14.32% | +12.93% | |
| 1Y Return | +21.06% | +20.62% | |
| 3Y Return (annualized) | +20.21% | +22.00% | |
| 5Y Return (annualized) | +11.49% | +13.33% | |
| Volatility (annualized) | 15.0% | 15.3% | |
| Max Drawdown | -43.9% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 18, 2011 | Jan 22, 1993 |
FJP vs SPY Performance
First Trust Japan AlphaDEX Fund (FJP) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FJP returned +21.06% while SPY returned +20.62%. Year to date, FJP is up 14.32% versus a gain of 12.93% for SPY.
Over three years, FJP compounded at +20.21% per year against +22.00% for SPY; over five years the annualized figures are +11.49% and +13.33% respectively. Across the full 15-year window we track, SPY has the edge at +8.82% annualized vs +5.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.0% for FJP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -43.9% for FJP and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FJP charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, FJP currently yields 2.58% against 1.01% for SPY.
Holdings Overlap
FJP and SPY share 0 holdings out of 604 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FJP or SPY?
FJP has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, FJP or SPY?
Over the past year FJP returned +21.06% vs +20.62% for SPY, so FJP leads on 1-year performance. Over the longest common window we track (15 years), FJP annualized +5.08% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FJP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.0% for FJP. Worst drawdown: FJP -43.9% vs SPY -56.5%.
Should I hold both FJP and SPY?
FJP and SPY have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FJP and SPY?
FJP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, FJP or SPY?
FJP yields 2.58% while SPY yields 1.01%, so FJP currently pays the higher dividend yield.
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