SCJ vs. RAYJ

Last updated Aug 2, 2026

SCJ (iShares MSCI Japan Small Cap ETF) and RAYJ (Rayliant SMDAM Japan Equity ETF) are both Japan Equities funds. SCJ is passively managed, while RAYJ is actively managed. SCJ charges 0.49%/yr vs 0.72%/yr for RAYJ.

Performance

SCJ vs. RAYJ - Performance Comparison

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

Returns By Period

SCJ

• 1D: -0.74%
• 1M: -1.70%
• 6M: 9.71%
• YTD: 15.89%
• 1Y: 25.74%
• 3Y*: 17.39%
• 5Y*: 7.87%
• 10Y*: 7.48%
• ALL TIME*: 6.06%

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)
RAYJ Rayliant SMDAM Japan Equity ETF	$0.00	$0.00	$0.00
SCJ iShares MSCI Japan Small Cap ETF	$4.19M	$4.72M	$5.32M

SCJ vs. RAYJ - Yearly Performance Comparison

	2026 (YTD)
SCJ iShares MSCI Japan Small Cap ETF	-0.74%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%

SCJ vs. RAYJ - Sectors Allocation Comparison

Sectors	SCJ	RAYJ
Industrials	26.8%	27.6%
Consumer Cyclical	15.3%	21.0%
Technology	14.4%	22.8%
Financial Services	10.3%	9.7%
Basic Materials	9.0%	10.1%
Real Estate	7.5%	1.4%
Consumer Defensive	6.4%	0.9%
Healthcare	5.3%	3.5%
Communication Services	2.7%	3.1%
Utilities	1.8%	-
Energy	0.6%	-

Return for Risk

SCJ vs. RAYJ — Risk / Return Rank

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

SCJ

SCJ Risk / Return Rank: 68
SCJ Sharpe Ratio Rank: 72
SCJ Sortino Ratio Rank: 71
SCJ Omega Ratio Rank: 68
SCJ Calmar Ratio Rank: 67
SCJ Martin Ratio Rank: 63

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.

SCJ vs. RAYJ - Risk-Adjusted Trends Comparison

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

	SCJ	RAYJ	Difference
Sharpe ratio: Return per unit of total volatility	1.63	—	—
Sortino ratio: Return per unit of downside risk	2.30	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.30	—	—
Martin ratio: Return relative to average drawdown	7.49	—	—

Drawdowns

SCJ vs. RAYJ - Drawdown Comparison

The maximum SCJ drawdown since its inception was -43.52%, which is greater than RAYJ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SCJ and RAYJ.

Drawdown Indicators

	SCJ	RAYJ	Difference
Max Drawdown Largest peak-to-trough decline	-43.52%	0.00%	-43.52%
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	-3.27%	0.00%	-3.27%
Average Drawdown Average peak-to-trough decline	-10.31%	0.00%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	—	—

Volatility

Volatility by Period

	SCJ	RAYJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	—	—

SCJ vs. RAYJ - Expense Ratio Comparison

SCJ has a 0.49% expense ratio, which is lower than RAYJ's 0.72% expense ratio.

Dividends

SCJ vs. RAYJ - Dividend Comparison

SCJ's dividend yield for the trailing twelve months is around 2.77%, while RAYJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%	0.00%	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	2.77%	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

Which ETF is better, SCJ or RAYJ?

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 RAYJ?

SCJ is cheaper with a 0.49% expense ratio, compared with 0.72% for RAYJ.

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

SCJ has the higher dividend yield at 2.77%, compared with 0.00% for RAYJ.

What is the main difference between SCJ and RAYJ?

They also come from different issuers: iShares and Rayliant. Their fees differ too: 0.49% for SCJ and 0.72% for RAYJ.