JOF vs. SCJ
JOF (Japan Smaller Capitalization Fund) and SCJ (iShares MSCI Japan Small Cap ETF) are both Japan Equities funds. Over the past 10 years, JOF returned 10.69%/yr vs 8.15%/yr for SCJ. A 0.68 correlation means they provide meaningful diversification when combined. JOF charges 0.01%/yr vs 0.49%/yr for SCJ.
Performance
JOF vs. SCJ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JOF achieves a 12.47% return, which is significantly lower than SCJ's 16.74% return. Over the past 10 years, JOF has outperformed SCJ with an annualized return of 10.69%, while SCJ has yielded a comparatively lower 8.15% annualized return.
JOF
- 1D
- 0.34%
- 1M
- 4.19%
- YTD
- 12.47%
- 6M
- 16.14%
- 1Y
- 38.13%
- 3Y*
- 24.97%
- 5Y*
- 11.24%
- 10Y*
- 10.69%
SCJ
- 1D
- 0.63%
- 1M
- 2.38%
- YTD
- 16.74%
- 6M
- 17.56%
- 1Y
- 33.28%
- 3Y*
- 18.86%
- 5Y*
- 8.17%
- 10Y*
- 8.15%
JOF vs. SCJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JOF Japan Smaller Capitalization Fund | 12.47% | 52.12% | 5.28% | 21.40% | -17.07% | -6.15% | 4.76% | 16.62% | -15.66% | 40.78% |
SCJ iShares MSCI Japan Small Cap ETF | 16.74% | 29.58% | 3.41% | 13.22% | -12.75% | -2.95% | 7.46% | 16.16% | -17.17% | 31.61% |
Correlation
The correlation between JOF and SCJ is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007 | 0.68 |
The correlation between JOF and SCJ has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JOF vs. SCJ — Risk / Return Rank
JOF
SCJ
JOF vs. SCJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Japan Smaller Capitalization Fund (JOF) 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.
| JOF | SCJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.75 | -0.52 |
| Martin ratioReturn relative to average drawdown | 6.12 | 9.22 | -3.10 |
Loading charts...
Drawdowns
JOF vs. SCJ - Drawdown Comparison
The maximum JOF drawdown since its inception was -74.98%, which is greater than SCJ's maximum drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for JOF and SCJ.
Loading charts...
Drawdown Indicators
| JOF | SCJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.98% | -43.52% | -31.46% |
Max Drawdown (1Y)Largest decline over 1 year | -17.21% | -12.17% | -5.04% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -12.43% | -4.78% |
Max Drawdown (5Y)Largest decline over 5 years | -37.03% | -33.25% | -3.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.37% | -38.87% | -3.50% |
Current DrawdownCurrent decline from peak | -3.67% | 0.00% | -3.67% |
Average DrawdownAverage peak-to-trough decline | -32.68% | -10.36% | -22.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.25% | 3.62% | +2.63% |
Volatility
JOF vs. SCJ - Volatility Comparison
Japan Smaller Capitalization Fund (JOF) has a higher volatility of 4.91% compared to iShares MSCI Japan Small Cap ETF (SCJ) at 4.50%. This indicates that JOF's price experiences larger fluctuations and is considered to be riskier than SCJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JOF | SCJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.50% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.43% | 13.41% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 16.38% | +3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 15.85% | +1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 16.28% | +1.29% |
JOF vs. SCJ - Expense Ratio Comparison
JOF has a 0.02% expense ratio, which is lower than SCJ's 0.49% expense ratio.
Dividends
JOF vs. SCJ - Dividend Comparison
JOF's dividend yield for the trailing twelve months is around 8.95%, more than SCJ's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JOF Japan Smaller Capitalization Fund | 8.95% | 4.80% | 4.07% | 3.50% | 0.71% | 7.70% | 3.81% | 8.30% | 20.55% | 15.89% | 9.63% | 8.58% |
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
JOF and SCJ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JOF has higher volatility (4.91%) compared to SCJ (4.50%). In terms of maximum drawdown, JOF dropped -74.98% vs SCJ's -43.52%.
SCJ currently has the higher Sharpe Ratio (2.04 vs 1.95), 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.
Find the right allocation for JOF and SCJ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer