BBJP vs. JAPN

Last updated Jun 25, 2026

BBJP (JPMorgan BetaBuilders Japan ETF) and JAPN (Horizon Kinetics Japan Owner Operator ETF) are both Japan Equities funds. BBJP is passively managed, while JAPN is actively managed. Over the past year, BBJP returned 31.39% vs -19.62% for JAPN. A 0.61 correlation means they provide meaningful diversification when combined. BBJP charges 0.19%/yr vs 0.85%/yr for JAPN.

Performance

BBJP vs. JAPN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Japan ETF (BBJP) and Horizon Kinetics Japan Owner Operator ETF (JAPN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBJP achieves a 13.46% return, which is significantly higher than JAPN's -13.42% return.

BBJP

• 1D: -0.16%
• 1M: 0.39%
• YTD: 13.46%
• 6M: 13.18%
• 1Y: 31.39%
• 3Y*: 18.14%
• 5Y*: 8.80%
• 10Y*: —

JAPN

• 1D: 0.68%
• 1M: -2.09%
• YTD: -13.42%
• 6M: -13.84%
• 1Y: -19.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBJP vs. JAPN - Yearly Performance Comparison

	2026 (YTD)	2025
BBJP JPMorgan BetaBuilders Japan ETF	13.46%	16.61%
JAPN Horizon Kinetics Japan Owner Operator ETF	-13.42%	3.10%

Correlation

The correlation between BBJP and JAPN is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 13, 2025	0.61

The correlation between BBJP and JAPN has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

BBJP vs. JAPN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBJP

BBJP Risk / Return Rank: 50
BBJP Sharpe Ratio Rank: 49
BBJP Sortino Ratio Rank: 49
BBJP Omega Ratio Rank: 51
BBJP Calmar Ratio Rank: 52
BBJP Martin Ratio Rank: 50

JAPN

JAPN Risk / Return Rank: 2
JAPN Sharpe Ratio Rank: 1
JAPN Sortino Ratio Rank: 2
JAPN Omega Ratio Rank: 2
JAPN Calmar Ratio Rank: 2
JAPN Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBJP vs. JAPN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) and Horizon Kinetics Japan Owner Operator ETF (JAPN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBJP	JAPN	Difference
Sharpe ratio: Return per unit of total volatility	1.55	-1.01	+2.56
Sortino ratio: Return per unit of downside risk	2.20	-1.39	+3.59
Omega ratio: Gain probability vs. loss probability	1.29	0.84	+0.45
Calmar ratio: Return relative to maximum drawdown	2.32	-0.82	+3.14
Martin ratio: Return relative to average drawdown	7.71	-1.44	+9.16

BBJP vs. JAPN - Sharpe Ratio Comparison

The current BBJP Sharpe Ratio is 1.55, which is higher than the JAPN Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of BBJP and JAPN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBJP vs. JAPN - Drawdown Comparison

The maximum BBJP drawdown since its inception was -32.66%, which is greater than JAPN's maximum drawdown of -23.94%. Use the drawdown chart below to compare losses from any high point for BBJP and JAPN.

Drawdown Indicators

	BBJP	JAPN	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-23.94%	-8.72%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-23.94%	+10.34%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	—	—
Current Drawdown Current decline from peak	-4.30%	-22.99%	+18.69%
Average Drawdown Average peak-to-trough decline	-8.48%	-10.08%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	13.60%	-9.52%

Volatility

BBJP vs. JAPN - Volatility Comparison

JPMorgan BetaBuilders Japan ETF (BBJP) has a higher volatility of 7.46% compared to Horizon Kinetics Japan Owner Operator ETF (JAPN) at 6.71%. This indicates that BBJP's price experiences larger fluctuations and is considered to be riskier than JAPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBJP	JAPN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.46%	6.71%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	16.37%	16.16%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	20.43%	19.49%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	19.54%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	19.54%	-1.15%

BBJP vs. JAPN - Expense Ratio Comparison

BBJP has a 0.19% expense ratio, which is lower than JAPN's 0.85% expense ratio.

Dividends

BBJP vs. JAPN - Dividend Comparison

BBJP's dividend yield for the trailing twelve months is around 4.73%, more than JAPN's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBJP JPMorgan BetaBuilders Japan ETF	4.73%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%
JAPN Horizon Kinetics Japan Owner Operator ETF	0.28%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBJP and JAPN in my portfolio?

BBJP and JAPN have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBJP or JAPN?

BBJP has higher volatility (7.46%) compared to JAPN (6.71%). In terms of maximum drawdown, BBJP dropped -32.66% vs JAPN's -23.94%.

Which ETF is better, BBJP or JAPN?

On 1-year performance, BBJP leads with 31.39% vs -19.62% for JAPN. On fees, BBJP is cheaper at 0.19% per year. On volatility, JAPN has been the lower-risk option at 6.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBJP or JAPN?

Over the 1-year period, BBJP has performed better with a 31.39% return vs -19.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBJP or JAPN?

BBJP is cheaper with a 0.19% expense ratio, compared with 0.85% for JAPN.

Which ETF pays a higher dividend yield, BBJP or JAPN?

BBJP has the higher dividend yield at 4.73%, compared with 0.28% for JAPN.

What is the main difference between BBJP and JAPN?

They also come from different issuers: JPMorgan and Horizon. Their fees differ too: 0.19% for BBJP and 0.85% for JAPN.

Which has better risk-adjusted returns?

BBJP currently has the higher Sharpe Ratio (1.55 vs -1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.