JPAN vs. NBJP

Last updated Jun 4, 2026

JPAN (Matthews Japan Active ETF) and NBJP (Neuberger Berman Japan Equity ETF) are both Japan Equities funds. Both are actively managed. Over the past year, JPAN returned 30.43% vs 35.11% for NBJP. Their correlation of 0.93 suggests significant overlap in exposure. JPAN charges 0.79%/yr vs 0.50%/yr for NBJP.

Performance

JPAN vs. NBJP - Performance Comparison

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

Returns By Period

In the year-to-date period, JPAN achieves a 17.64% return, which is significantly lower than NBJP's 18.88% return.

JPAN

• 1D: 0.52%
• 1M: 7.08%
• YTD: 17.64%
• 6M: 19.06%
• 1Y: 30.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBJP

• 1D: 0.32%
• 1M: 7.23%
• YTD: 18.88%
• 6M: 21.26%
• 1Y: 35.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPAN vs. NBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JPAN Matthews Japan Active ETF	17.64%	22.96%	-1.50%
NBJP Neuberger Berman Japan Equity ETF	18.88%	30.41%	-3.34%

Correlation

The correlation between JPAN and NBJP is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024	0.93

The correlation between JPAN and NBJP has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

JPAN vs. NBJP — Risk / Return Rank

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

JPAN

JPAN Risk / Return Rank: 45
JPAN Sharpe Ratio Rank: 45
JPAN Sortino Ratio Rank: 47
JPAN Omega Ratio Rank: 46
JPAN Calmar Ratio Rank: 42
JPAN Martin Ratio Rank: 45

NBJP

NBJP Risk / Return Rank: 52
NBJP Sharpe Ratio Rank: 53
NBJP Sortino Ratio Rank: 53
NBJP Omega Ratio Rank: 53
NBJP Calmar Ratio Rank: 51
NBJP Martin Ratio Rank: 52

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. NBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Active ETF (JPAN) and Neuberger Berman Japan Equity ETF (NBJP). 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.

	JPAN	NBJP	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.79	-0.23
Sortino ratio Return per unit of downside risk	2.30	2.55	-0.24
Omega ratio Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio Return relative to maximum drawdown	2.09	2.46	-0.37
Martin ratio Return relative to average drawdown	7.47	8.84	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPAN vs. NBJP - Sharpe Ratio Comparison

The current JPAN Sharpe Ratio is 1.56, which is comparable to the NBJP Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of JPAN and NBJP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPAN	NBJP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.79	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.37	-0.08

Drawdowns

JPAN vs. NBJP - Drawdown Comparison

The maximum JPAN drawdown since its inception was -15.24%, which is greater than NBJP's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for JPAN and NBJP.

Drawdown Indicators

	JPAN	NBJP	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-14.34%	-0.90%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-14.34%	-0.25%
Current Drawdown Current decline from peak	0.00%	-0.79%	+0.79%
Average Drawdown Average peak-to-trough decline	-3.09%	-3.22%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	3.98%	+0.10%

Volatility

JPAN vs. NBJP - Volatility Comparison

The current volatility for Matthews Japan Active ETF (JPAN) is 4.59%, while Neuberger Berman Japan Equity ETF (NBJP) has a volatility of 5.49%. This indicates that JPAN experiences smaller price fluctuations and is considered to be less risky than NBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPAN	NBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.49%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	15.68%	16.51%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	19.76%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.26%	19.55%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	19.55%	-0.29%

JPAN vs. NBJP - Expense Ratio Comparison

JPAN has a 0.79% expense ratio, which is higher than NBJP's 0.50% expense ratio.

Dividends

JPAN vs. NBJP - Dividend Comparison

JPAN's dividend yield for the trailing twelve months is around 4.34%, more than NBJP's 1.92% yield.

Position	TTM	2025	2024	2023
JPAN Matthews Japan Active ETF	4.34%	5.10%	1.53%	0.51%
NBJP Neuberger Berman Japan Equity ETF	1.92%	2.29%	0.75%	0.00%

Frequently Asked Questions

Can I hold both JPAN and NBJP in my portfolio?

With a correlation of 0.92, JPAN and NBJP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JPAN or NBJP?

NBJP has higher volatility (5.49%) compared to JPAN (4.59%). In terms of maximum drawdown, JPAN dropped -15.24% vs NBJP's -14.34%.

Which ETF is better, JPAN or NBJP?

On 1-year performance, NBJP leads with 35.11% vs 30.43% for JPAN. On fees, NBJP is cheaper at 0.50% per year. On volatility, JPAN has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPAN or NBJP?

Over the 1-year period, NBJP has performed better with a 35.11% return vs 30.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPAN or NBJP?

NBJP is cheaper with a 0.50% expense ratio, compared with 0.79% for JPAN.

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

JPAN has the higher dividend yield at 4.34%, compared with 1.92% for NBJP.

What is the main difference between JPAN and NBJP?

They also come from different issuers: Matthews and Neuberger Berman. Their fees differ too: 0.79% for JPAN and 0.50% for NBJP.

Which has better risk-adjusted returns?

NBJP currently has the higher Sharpe Ratio (1.79 vs 1.56), 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.