This fund offers broad exposure to securities that are domiciled and trade in the Japanese equity market. That makes FJP one of many ways to bet on the third largest economy in the world behind only China and the U.S. Unfortunately, Japan has been stuck in an economic malaise for quite some time now although the country does have impressive capabilities in the manufacturing and technology sectors and it remains well positioned to benefit from broad Asian growth. FJP does employ an 'alphadex' methodology in order to select securities for this modified equal-dollar weighted fund. As a result, the fund could be appropriate for some investors seeking to make a tactical tilt towards Japanese equities while at the same time employing the popular methodology from First Trust in order to potentially avoid some of the worst names in the index. However, the fund does charge investors fees that are nearly double the cheaper securities in the category suggesting that those especially worried about fees should look elsewhere for their Japanese exposure.