JPY vs. SCJ
JPY (Lazard Japanese Equity ETF) and SCJ (iShares MSCI Japan Small Cap ETF) are both Japan Equities funds. JPY is actively managed, while SCJ is passively managed. Over the past year, JPY returned 38.86% vs 33.28% for SCJ. Their correlation of 0.80 suggests significant overlap in exposure. JPY charges 0.60%/yr vs 0.49%/yr for SCJ.
Performance
JPY vs. SCJ - Performance Comparison
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Returns By Period
In the year-to-date period, JPY achieves a 18.35% return, which is significantly higher than SCJ's 16.74% return.
JPY
- 1D
- -0.31%
- 1M
- 3.62%
- YTD
- 18.35%
- 6M
- 18.98%
- 1Y
- 38.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
JPY vs. SCJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JPY Lazard Japanese Equity ETF | 18.35% | 39.95% |
SCJ iShares MSCI Japan Small Cap ETF | 16.74% | 34.28% |
Correlation
The correlation between JPY and SCJ is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025 | 0.80 |
The correlation between JPY and SCJ has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.
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Return for Risk
JPY vs. SCJ — Risk / Return Rank
JPY
SCJ
JPY vs. SCJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Japanese Equity ETF (JPY) 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.
| JPY | SCJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 2.75 | -0.17 |
| Martin ratioReturn relative to average drawdown | 8.73 | 9.22 | -0.49 |
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Drawdowns
JPY vs. SCJ - Drawdown Comparison
The maximum JPY drawdown since its inception was -15.13%, smaller than the maximum SCJ drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for JPY and SCJ.
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Drawdown Indicators
| JPY | SCJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -43.52% | +28.39% |
Max Drawdown (1Y)Largest decline over 1 year | -15.13% | -12.17% | -2.96% |
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 | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -10.36% | +7.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 3.62% | +0.84% |
Volatility
JPY vs. SCJ - Volatility Comparison
Lazard Japanese Equity ETF (JPY) has a higher volatility of 5.07% compared to iShares MSCI Japan Small Cap ETF (SCJ) at 4.50%. This indicates that JPY'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.
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Volatility by Period
| JPY | SCJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 4.50% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 13.41% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.14% | 16.38% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.06% | 15.85% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.06% | 16.28% | +4.78% |
JPY vs. SCJ - Expense Ratio Comparison
JPY has a 0.60% expense ratio, which is higher than SCJ's 0.49% expense ratio.
Dividends
JPY vs. SCJ - Dividend Comparison
JPY's dividend yield for the trailing twelve months is around 1.17%, less than SCJ's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPY Lazard Japanese Equity ETF | 1.17% | 2.38% | 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
JPY and SCJ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPY has higher volatility (5.07%) compared to SCJ (4.50%). In terms of maximum drawdown, JPY dropped -15.13% vs SCJ's -43.52%.
On 1-year performance, JPY leads with 38.86% vs 33.28% for SCJ. On fees, SCJ is cheaper at 0.49% per year. On volatility, SCJ has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JPY has performed better with a 38.86% return vs 33.28%. 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 0.60% for JPY.
SCJ has the higher dividend yield at 2.75%, compared with 1.17% for JPY.
They also come from different issuers: Lazard and iShares. Their fees differ too: 0.60% for JPY and 0.49% for SCJ.
SCJ currently has the higher Sharpe Ratio (2.04 vs 1.94), 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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