FJP vs SPY
First Trust Japan AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, FJP or SPY?
Each has led over a different period.
SPY has a lower expense ratio. FJP led over 1Y, SPY over 3Y, 5Y and the full window. FJP is less concentrated, with 18.0% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FJP | SPY |
|---|---|---|
| Expense Ratio | 0.80% | 0.09%Best |
| AUM | $260M | $814.4B |
| Dividend Yield | 2.58% | 1.01% |
| Holdings | 204 | 505 |
| YTD Return | +17.02%Best | +13.34% |
| 1Y Return | +23.54%Best | +19.97% |
| 3Y Return (annualized) | +18.99% | +21.20%Best |
| 5Y Return (annualized) | +10.52% | +12.81%Best |
| Volatility (annualized) | 15.0% | 14.3%Best |
| Max Drawdown | -43.9% | -34.1%Best |
| $10,000 over 5 years | $16,489 | $18,270Best |
| Top 10 Weight | 18.0%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 18, 2011 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2011 to Sep 4, 2026 (15.4 years).
FJP vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 15.4 years both funds cover.
FJP vs SPY Performance
First Trust Japan AlphaDEX Fund (FJP) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FJP returned +23.54% while SPY returned +19.97%. Year to date, FJP is up 17.02% versus a gain of 13.34% for SPY.
Over three years, FJP compounded at +18.99% per year against +21.20% for SPY; over five years the annualized figures are +10.52% and +12.81% respectively. Across the full 15-year window we track, SPY has the edge at +12.56% annualized vs +5.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FJP has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.3% for SPY. 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 -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
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
We hold position weights for 100 holdings in FJP and 503 in SPY, totalling 99.9% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 100 positions we hold weights for in FJP and 503 in SPY, against full books of 204 and 505.
What only one of them owns
Our book lists 493 positions for SPY that do not appear in our book for FJP (99.4% of the fund), and 1 for FJP that do not appear in SPY (0.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of FJP and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $71 a year on a $10,000 investment.
Which performed better, FJP or SPY?
Over the past year FJP returned +23.54% vs +19.97% for SPY, so FJP leads on 1-year performance. Over the longest common window we track (15 years), FJP annualized +5.22% vs +12.56% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FJP or SPY?
FJP has been the more volatile fund at 15.0% annualized versus 14.3% for SPY. Worst drawdown: FJP -43.9% vs SPY -34.1%.
Should I hold both FJP and SPY?
FJP and SPY have a monthly-return correlation of 0.58, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
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.
Is SPY better than FJP?
SPY has a lower expense ratio. FJP led over 1Y, SPY over 3Y, 5Y and the full window. FJP is less concentrated, with 18.0% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.