MJSC vs. RAYJ

Last updated Aug 2, 2026

MJSC (MUFG Japan Small Cap Active ETF) and RAYJ (Rayliant SMDAM Japan Equity ETF) are both Japan Equities funds. Both are actively managed. MJSC charges 0.85%/yr vs 0.72%/yr for RAYJ.

Performance

MJSC vs. RAYJ - Performance Comparison

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

Returns By Period

MJSC

• 1D: 0.16%
• 1M: -3.62%
• 6M: 13.07%
• YTD: 20.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

RAYJ

• 1D: 0.00%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MJSC MUFG Japan Small Cap Active ETF	$114.98K	$115.12K	$170.00K
RAYJ Rayliant SMDAM Japan Equity ETF	$0.00	$0.00	$0.00

MJSC vs. RAYJ - Yearly Performance Comparison

	2026 (YTD)
MJSC MUFG Japan Small Cap Active ETF	0.16%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%

Return for Risk

MJSC vs. RAYJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUFG Japan Small Cap Active ETF (MJSC) and Rayliant SMDAM Japan Equity ETF (RAYJ). 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.

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

Drawdowns

MJSC vs. RAYJ - Drawdown Comparison

The maximum MJSC drawdown since its inception was -12.63%, which is greater than RAYJ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MJSC and RAYJ.

Drawdown Indicators

	MJSC	RAYJ	Difference
Max Drawdown Largest peak-to-trough decline	-12.63%	0.00%	-12.63%
Current Drawdown Current decline from peak	-5.31%	0.00%	-5.31%
Average Drawdown Average peak-to-trough decline	-3.02%	0.00%	-3.02%

Volatility

Volatility by Period

	MJSC	RAYJ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.18%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	—	—

MJSC vs. RAYJ - Expense Ratio Comparison

MJSC has a 0.85% expense ratio, which is higher than RAYJ's 0.72% expense ratio.

Dividends

MJSC vs. RAYJ - Dividend Comparison

MJSC's dividend yield for the trailing twelve months is around 0.55%, while RAYJ has not paid dividends to shareholders.

Position	TTM	2025
MJSC MUFG Japan Small Cap Active ETF	0.55%	0.66%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MJSC or RAYJ?

On fees, RAYJ is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MJSC or RAYJ?

RAYJ is cheaper with a 0.72% expense ratio, compared with 0.85% for MJSC.

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

MJSC has the higher dividend yield at 0.55%, compared with 0.00% for RAYJ.

What is the main difference between MJSC and RAYJ?

They also come from different issuers: MUFG and Rayliant. Their fees differ too: 0.85% for MJSC and 0.72% for RAYJ.