NBJP vs. RAYJ

Last updated Aug 4, 2026

NBJP (Neuberger Berman Japan Equity ETF) and RAYJ (Rayliant SMDAM Japan Equity ETF) are both Japan Equities funds. Both are actively managed. NBJP charges 0.50%/yr vs 0.72%/yr for RAYJ.

Performance

NBJP vs. RAYJ - Performance Comparison

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

Returns By Period

NBJP

• 1D: -0.06%
• 1M: -4.61%
• 6M: 7.72%
• YTD: 14.32%
• 1Y: 27.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.79%

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)
NBJP Neuberger Berman Japan Equity ETF	$913.81K	$577.34K	$658.88K
RAYJ Rayliant SMDAM Japan Equity ETF	$0.00	$0.00	$0.00

NBJP vs. RAYJ - Yearly Performance Comparison

	2026 (YTD)
NBJP Neuberger Berman Japan Equity ETF	-0.39%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%

Return for Risk

NBJP vs. RAYJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBJP

NBJP Risk / Return Rank: 48
NBJP Sharpe Ratio Rank: 47
NBJP Sortino Ratio Rank: 46
NBJP Omega Ratio Rank: 48
NBJP Calmar Ratio Rank: 50
NBJP Martin Ratio Rank: 48

RAYJ

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBJP vs. RAYJ - Risk-Adjusted Trends Comparison

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

	NBJP	RAYJ	Difference
Sharpe ratio: Return per unit of total volatility	1.26	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.94	—	—
Martin ratio: Return relative to average drawdown	5.91	—	—

Drawdowns

NBJP vs. RAYJ - Drawdown Comparison

The maximum NBJP drawdown since its inception was -14.34%, which is greater than RAYJ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for NBJP and RAYJ.

Drawdown Indicators

	NBJP	RAYJ	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	0.00%	-14.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	—	—
Current Drawdown Current decline from peak	-9.33%	0.00%	-9.33%
Average Drawdown Average peak-to-trough decline	-3.42%	0.00%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.70%	—	—

Volatility

Volatility by Period

	NBJP	RAYJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.09%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	—	—

NBJP vs. RAYJ - Expense Ratio Comparison

NBJP has a 0.50% expense ratio, which is lower than RAYJ's 0.72% expense ratio.

Dividends

NBJP vs. RAYJ - Dividend Comparison

NBJP's dividend yield for the trailing twelve months is around 2.00%, while RAYJ has not paid dividends to shareholders.

Position	TTM	2025	2024
NBJP Neuberger Berman Japan Equity ETF	2.00%	2.29%	0.75%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, NBJP or RAYJ?

On fees, NBJP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBJP or RAYJ?

NBJP is cheaper with a 0.50% expense ratio, compared with 0.72% for RAYJ.

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

NBJP has the higher dividend yield at 2.00%, compared with 0.00% for RAYJ.

What is the main difference between NBJP and RAYJ?

They also come from different issuers: Neuberger Berman and Rayliant. Their fees differ too: 0.50% for NBJP and 0.72% for RAYJ.