JPXN vs. MJSC

Last updated Jun 25, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and MJSC (MUFG Japan Small Cap Active ETF) are both Japan Equities funds. JPXN is passively managed, while MJSC is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. JPXN charges 0.48%/yr vs 0.85%/yr for MJSC.

Performance

JPXN vs. MJSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares JPX-Nikkei 400 ETF (JPXN) 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, JPXN achieves a 14.58% return, which is significantly lower than MJSC's 22.57% return.

JPXN

• 1D: -0.05%
• 1M: 0.59%
• YTD: 14.58%
• 6M: 14.15%
• 1Y: 30.40%
• 3Y*: 17.85%
• 5Y*: 8.74%
• 10Y*: 9.33%

MJSC

• 1D: 0.40%
• 1M: -0.12%
• YTD: 22.57%
• 6M: 21.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPXN vs. MJSC - Yearly Performance Comparison

	2026 (YTD)	2025
JPXN iShares JPX-Nikkei 400 ETF	14.58%	2.20%
MJSC MUFG Japan Small Cap Active ETF	22.57%	-0.05%

Correlation

The correlation between JPXN and MJSC is 0.87, 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	0.87

Return for Risk

JPXN vs. MJSC — Risk / Return Rank

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

JPXN

JPXN Risk / Return Rank: 51
JPXN Sharpe Ratio Rank: 51
JPXN Sortino Ratio Rank: 50
JPXN Omega Ratio Rank: 51
JPXN Calmar Ratio Rank: 51
JPXN Martin Ratio Rank: 51

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.

JPXN vs. MJSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) 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.

	JPXN	MJSC	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.22	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.33	—	—
Martin ratio: Return relative to average drawdown	8.01	—	—

Drawdowns

JPXN vs. MJSC - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, which is greater than MJSC's maximum drawdown of -12.63%. Use the drawdown chart below to compare losses from any high point for JPXN and MJSC.

Drawdown Indicators

	JPXN	MJSC	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-12.63%	-42.91%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.21%	—	—
Current Drawdown Current decline from peak	-3.63%	-3.05%	-0.58%
Average Drawdown Average peak-to-trough decline	-15.03%	-2.94%	-12.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	—	—

Volatility

Volatility by Period

	JPXN	MJSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	20.80%	-1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	20.80%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	20.80%	-3.76%

JPXN vs. MJSC - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is lower than MJSC's 0.85% expense ratio.

Dividends

JPXN vs. MJSC - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.79%, more than MJSC's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPXN iShares JPX-Nikkei 400 ETF	2.79%	3.14%	2.29%	2.57%	1.47%	2.63%	1.27%	1.92%	1.60%	1.50%	2.07%	1.32%
MJSC MUFG Japan Small Cap Active ETF	0.53%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPXN and MJSC in my portfolio?

JPXN and MJSC have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPXN or MJSC?

On fees, JPXN is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPXN or MJSC?

JPXN is cheaper with a 0.48% expense ratio, compared with 0.85% for MJSC.

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

JPXN has the higher dividend yield at 2.79%, compared with 0.53% for MJSC.

What is the main difference between JPXN and MJSC?

They also come from different issuers: iShares and MUFG. Their fees differ too: 0.48% for JPXN and 0.85% for MJSC.