RAYJ vs. MJSC

Last updated Aug 2, 2026

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

Performance

RAYJ vs. MJSC - Performance Comparison

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

Returns By Period

RAYJ

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

MJSC

• 1D: 0.16%
• 1M: -3.62%
• 6M: 13.07%
• YTD: 20.20%
• 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

RAYJ vs. MJSC - Yearly Performance Comparison

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

Return for Risk

RAYJ vs. MJSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant SMDAM Japan Equity ETF (RAYJ) 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.

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

Drawdowns

RAYJ vs. MJSC - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

	RAYJ	MJSC	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%	—

RAYJ vs. MJSC - Expense Ratio Comparison

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

Dividends

RAYJ vs. MJSC - Dividend Comparison

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

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, RAYJ or MJSC?

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, RAYJ or MJSC?

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

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

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

What is the main difference between RAYJ and MJSC?

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