JPAN vs. MJSC

Last updated Jun 24, 2026

JPAN (Matthews Japan Active ETF) and MJSC (MUFG Japan Small Cap Active ETF) are both Japan Equities funds. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. JPAN charges 0.79%/yr vs 0.85%/yr for MJSC.

Performance

JPAN vs. MJSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Japan Active ETF (JPAN) and MUFG Japan Small Cap Active ETF (MJSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPAN achieves a 17.24% return, which is significantly lower than MJSC's 22.08% return.

JPAN

• 1D: -3.95%
• 1M: 1.40%
• YTD: 17.24%
• 6M: 16.10%
• 1Y: 32.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MJSC

• 1D: -3.44%
• 1M: -0.52%
• YTD: 22.08%
• 6M: 21.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPAN vs. MJSC - Yearly Performance Comparison

	2026 (YTD)	2025
JPAN Matthews Japan Active ETF	17.24%	2.77%
MJSC MUFG Japan Small Cap Active ETF	22.08%	-0.05%

Correlation

The correlation between JPAN and MJSC is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.85

Return for Risk

JPAN vs. MJSC — Risk / Return Rank

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

JPAN

JPAN Risk / Return Rank: 49
JPAN Sharpe Ratio Rank: 50
JPAN Sortino Ratio Rank: 49
JPAN Omega Ratio Rank: 50
JPAN Calmar Ratio Rank: 49
JPAN Martin Ratio Rank: 50

MJSC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JPAN vs. MJSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Active ETF (JPAN) and MUFG Japan Small Cap Active ETF (MJSC). 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.

	JPAN	MJSC	Difference
Sharpe ratio: Return per unit of total volatility	1.58	—	—
Sortino ratio: Return per unit of downside risk	2.26	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.23	—	—
Martin ratio: Return relative to average drawdown	7.90	—	—

Drawdowns

JPAN vs. MJSC - Drawdown Comparison

The maximum JPAN drawdown since its inception was -15.24%, which is greater than MJSC's maximum drawdown of -12.63%. Use the drawdown chart below to compare losses from any high point for JPAN and MJSC.

Drawdown Indicators

	JPAN	MJSC	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-12.63%	-2.61%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	—	—
Current Drawdown Current decline from peak	-3.95%	-3.44%	-0.51%
Average Drawdown Average peak-to-trough decline	-3.09%	-2.94%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	—	—

Volatility

Volatility by Period

	JPAN	MJSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.60%	20.85%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.53%	20.85%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.53%	20.85%	-1.32%

JPAN vs. MJSC - Expense Ratio Comparison

JPAN has a 0.79% expense ratio, which is lower than MJSC's 0.85% expense ratio.

Dividends

JPAN vs. MJSC - Dividend Comparison

JPAN's dividend yield for the trailing twelve months is around 4.35%, more than MJSC's 0.54% yield.

Position	TTM	2025	2024	2023
JPAN Matthews Japan Active ETF	4.35%	5.10%	1.53%	0.51%
MJSC MUFG Japan Small Cap Active ETF	0.54%	0.66%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPAN and MJSC in my portfolio?

JPAN and MJSC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPAN or MJSC?

On fees, JPAN is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPAN or MJSC?

JPAN is cheaper with a 0.79% expense ratio, compared with 0.85% for MJSC.

Which ETF pays a higher dividend yield, JPAN or MJSC?

JPAN has the higher dividend yield at 4.35%, compared with 0.54% for MJSC.

What is the main difference between JPAN and MJSC?

They also come from different issuers: Matthews and MUFG. Their fees differ too: 0.79% for JPAN and 0.85% for MJSC.