JAPN vs. SCJ
JAPN (Horizon Kinetics Japan Owner Operator ETF) and SCJ (iShares MSCI Japan Small Cap ETF) are both Japan Equities funds. JAPN is actively managed, while SCJ is passively managed. Over the past year, JAPN returned -8.72% vs 26.55% for SCJ. Their 0.64 correlation means they have sometimes moved together and sometimes differently. JAPN charges 0.85%/yr vs 0.49%/yr for SCJ.
Performance
JAPN vs. SCJ - Performance Comparison
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Returns By Period
In the year-to-date period, JAPN achieves a -2.20% return, which is significantly lower than SCJ's 16.64% return.
JAPN
- 1D
- 0.18%
- 1M
- 8.13%
- 6M
- 3.31%
- YTD
- -2.20%
- 1Y
- -8.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.67%
SCJ
- 1D
- 0.64%
- 1M
- -1.07%
- 6M
- 11.35%
- YTD
- 16.64%
- 1Y
- 26.55%
- 3Y*
- 18.04%
- 5Y*
- 8.00%
- 10Y*
- 7.62%
- ALL TIME*
- 6.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $237.11K | $161.04K | $133.74K | |
| $4.49M | $4.49M | $5.17M |
JAPN vs. SCJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JAPN Horizon Kinetics Japan Owner Operator ETF | -2.20% | 3.10% |
SCJ iShares MSCI Japan Small Cap ETF | 16.64% | 17.67% |
Correlation
The correlation between JAPN and SCJ is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 13, 2025 | 0.64 |
The correlation between JAPN and SCJ has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.
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Return for Risk
JAPN vs. SCJ — Risk / Return Rank
JAPN
SCJ
JAPN vs. SCJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Japan Owner Operator ETF (JAPN) and iShares MSCI Japan Small Cap ETF (SCJ). 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.
| JAPN | SCJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.27 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 2.19 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.59 | 7.12 | -7.71 |
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Drawdowns
JAPN vs. SCJ - Drawdown Comparison
The maximum JAPN drawdown since its inception was -23.94%, smaller than the maximum SCJ drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for JAPN and SCJ.
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Drawdown Indicators
| JAPN | SCJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.94% | -43.52% | +19.58% |
Max Drawdown (1Y)Largest decline over 1 year | -23.94% | -12.17% | -11.77% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.87% | — |
Current DrawdownCurrent decline from peak | -13.01% | -2.65% | -10.36% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -10.31% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.73% | 3.74% | +10.99% |
Volatility
JAPN vs. SCJ - Volatility Comparison
Horizon Kinetics Japan Owner Operator ETF (JAPN) and iShares MSCI Japan Small Cap ETF (SCJ) have volatilities of 6.62% and 6.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAPN | SCJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 6.39% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.88% | 14.54% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.17% | 17.19% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.81% | 16.02% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.81% | 16.34% | +3.47% |
JAPN vs. SCJ - Expense Ratio Comparison
JAPN has a 0.85% expense ratio, which is higher than SCJ's 0.49% expense ratio.
Dividends
JAPN vs. SCJ - Dividend Comparison
JAPN's dividend yield for the trailing twelve months is around 0.25%, less than SCJ's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JAPN Horizon Kinetics Japan Owner Operator ETF | 0.25% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCJ iShares MSCI Japan Small Cap ETF | 2.75% | 3.14% | 1.79% | 1.99% | 1.18% | 1.87% | 0.89% | 1.85% | 1.44% | 1.45% | 2.73% | 1.53% |
Frequently Asked Questions
JAPN and SCJ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JAPN has higher volatility (6.62%) compared to SCJ (6.39%). In terms of maximum drawdown, JAPN dropped -23.94% vs SCJ's -43.52%.
On 1-year performance, SCJ leads with 26.55% vs -8.72% for JAPN. On fees, SCJ is cheaper at 0.49% per year. On volatility, SCJ has been the lower-risk option at 6.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SCJ has performed better with a 26.55% return vs -8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCJ is cheaper with a 0.49% expense ratio, compared with 0.85% for JAPN.
SCJ has the higher dividend yield at 2.75%, compared with 0.25% for JAPN.
They also come from different issuers: Horizon and iShares. Their fees differ too: 0.85% for JAPN and 0.49% for SCJ.
SCJ currently has the higher Sharpe Ratio (1.55 vs -0.43), 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.
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