SCJ vs. MJSC

Last updated Jun 24, 2026

SCJ (iShares MSCI Japan Small Cap ETF) and MJSC (MUFG Japan Small Cap Active ETF) are both Japan Equities funds. SCJ is passively managed, while MJSC is actively managed. Their correlation of 0.93 suggests significant overlap in exposure. SCJ charges 0.49%/yr vs 0.85%/yr for MJSC.

Performance

SCJ vs. MJSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Japan Small Cap ETF (SCJ) 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, SCJ achieves a 14.43% return, which is significantly lower than MJSC's 22.08% return.

SCJ

• 1D: -1.98%
• 1M: 0.36%
• YTD: 14.43%
• 6M: 14.21%
• 1Y: 29.99%
• 3Y*: 18.07%
• 5Y*: 7.56%
• 10Y*: 7.94%

MJSC

• 1D: -3.44%
• 1M: -0.52%
• YTD: 22.08%
• 6M: 21.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCJ vs. MJSC - Yearly Performance Comparison

	2026 (YTD)	2025
SCJ iShares MSCI Japan Small Cap ETF	14.43%	-0.06%
MJSC MUFG Japan Small Cap Active ETF	22.08%	-0.05%

Correlation

The correlation between SCJ and MJSC is 0.93, 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	0.93

Return for Risk

SCJ vs. MJSC — Risk / Return Rank

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

SCJ

SCJ Risk / Return Rank: 55
SCJ Sharpe Ratio Rank: 57
SCJ Sortino Ratio Rank: 57
SCJ Omega Ratio Rank: 55
SCJ Calmar Ratio Rank: 53
SCJ 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.

SCJ vs. MJSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Small Cap ETF (SCJ) 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.

	SCJ	MJSC	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.57	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.48	—	—
Martin ratio: Return relative to average drawdown	8.30	—	—

Drawdowns

SCJ vs. MJSC - Drawdown Comparison

The maximum SCJ drawdown since its inception was -43.52%, which is greater than MJSC's maximum drawdown of -12.63%. Use the drawdown chart below to compare losses from any high point for SCJ and MJSC.

Drawdown Indicators

	SCJ	MJSC	Difference
Max Drawdown Largest peak-to-trough decline	-43.52%	-12.63%	-30.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	—	—
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 Drawdown Current decline from peak	-1.98%	-3.44%	+1.46%
Average Drawdown Average peak-to-trough decline	-10.36%	-2.94%	-7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	—	—

Volatility

Volatility by Period

	SCJ	MJSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.49%	20.85%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	20.85%	-4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	20.85%	-4.58%

SCJ vs. MJSC - Expense Ratio Comparison

SCJ has a 0.49% expense ratio, which is lower than MJSC's 0.85% expense ratio.

Dividends

SCJ vs. MJSC - Dividend Comparison

SCJ's dividend yield for the trailing twelve months is around 2.80%, more than MJSC's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MJSC MUFG Japan Small Cap Active ETF	0.54%	0.66%	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	2.80%	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

Can I hold both SCJ and MJSC in my portfolio?

With a correlation of 0.93, SCJ and MJSC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SCJ or MJSC?

On fees, SCJ is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCJ or MJSC?

SCJ is cheaper with a 0.49% expense ratio, compared with 0.85% for MJSC.

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

SCJ has the higher dividend yield at 2.80%, compared with 0.54% for MJSC.

What is the main difference between SCJ and MJSC?

They also come from different issuers: iShares and MUFG. Their fees differ too: 0.49% for SCJ and 0.85% for MJSC.