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RAYJvsJPANETF Comparison

ETF 1

RAYJ

Rayliant SMDAM Japan Equity ETF

This fund is part of

Japan Blended Cap

-0.1%

Full RAYJ fund page

VS

ETF 2

JPAN

Matthews Japan Active ETF

This fund is part of

Japan Blended Cap

-0.1%

Full JPAN fund page

Rayliant SMDAM Japan Equity ETF (RAYJ) and Matthews Japan Active ETF (JPAN) belong to the same industry segment: Japan Blended Cap. RAYJ's top 3 sector exposures are Industrials, Consumer Discretionary and Information Technology. In contrast, JPAN's top sector exposures are Industrials, Consumer Discretionary and Financials. RAYJ is more expensive with a Total Expense Ratio (TER) of 1.67%, versus 0.79% for JPAN. RAYJ is up 18.4% year-to-date (YTD) with +$6M in YTD flows. JPAN performs worse with 11.57% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of RAYJ and JPAN below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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RAYJ vs JPAN performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 05/06/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	RAYJ JPAN	+10.18%+8.17%	+9.09%+4.86%	+18.40%+11.57%	+38.43%+28.69%	n/an/a	n/an/a
Flows	RAYJ JPAN	-$2K-	-$2K+$2M	+$6M+$2M	+$6M+$2M	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	RAYJ JPAN	+33.10%+30.82%	+22.01%+21.20%	n/an/a	n/an/a
Max drawdown	RAYJ JPAN	-15.52%-14.82%	-15.52%-14.82%	n/an/a	n/an/a
Max drawdown duration	RAYJ JPAN	66d83d	66d83d	n/an/a	n/an/a

Trading data

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	RAYJ	JPAN
Last sale 5/8/2026 at 1:30 PM	$40.64	$41.52
Previous close 05/07/2026	$39.60	$40.88
Consolidated volume 05/07/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 5/8/2026 at 1:30 PM

Live

Closed

	RAYJ	JPAN
Last price	$40.64	$41.52
1D performance	+2.63%	+1.56%
AuM	$25.05 M	$7.97 M
E/R	1.67%	0.79%

Characteristics

	RAYJ	JPAN
Management strategy	Active	Active
Provider	Rayliant Asset Management	Matthews Asia
Benchmark	-	-
N° of holdings	31	55
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	April 4, 2024	September 22, 2023
ESG	No	Yes

More RAYJ data on Trackinsight

More JPAN data on Trackinsight

Exposure

Countries

RAYJ

Japan

99.59%

Other

0.41%

JPAN

Japan

98%

Other

2%

Sectors

RAYJ

Consumer Discreti.

30.77%

Industrials

30.77%

Information Techn.

10.83%

Financials

7.52%

Other

20.11%

JPAN

Industrials

27.3%

Consumer Discreti.

19.7%

Financials

17.4%

Information Techn.

12.6%

Other

23%

Diversification

RAYJ

Total weight of top 15 holdings out of 15

63.44%

JPAN

Total weight of top 15 holdings out of 15

44.3%

Top 15 holdings

Data as of March 31, 2026

RAYJ

MITSUBISHI UFJ FINANCIAL GROUP

5.95%

FUJIKURA

5.55%

FOOD & LIFE COMPANIES LTD.

4.85%

TOYOTA

4.82%

SHOWA DENKO

4.76%

TOYOTA TSUSHO

4.25%

ASICS

4.04%

FAST RETAILING

3.90%

RYOHIN KEIKAKU

3.83%

KAWASAKI HVY IND

3.80%

HITACHI

3.78%

DAIFUKU

3.60%

KINDEN

3.55%

MITSUI FUDOSAN

3.40%

CHUGAI PHARMACEUTICAL

3.36%

JPAN

TOKYO ELECTRON

4.60%

MITSUBISHI UFJ FINANCIAL GROUP

4.60%

HITACHI

3.80%

SONY GROUP CORPORATION

3.50%

SHIN-ETSU CHEM

3.20%

MARUBENI

3.00%

SUMITOMO

2.80%

PANASONIC HOLDINGS CORPORATION

2.50%

SUMITOMO MITSUI

2.50%

MS&AD INSURANCE

2.40%

KAWASAKI HVY IND

2.30%

TOYOTA

2.30%

ORIX

2.30%

ASICS

2.30%

FAST RETAILING

2.20%

Frequently asked questions about RAYJ and JPAN

How have the RAYJ and JPAN ETFs performed in 2026?

As of May 6, 2026, RAYJ is up 18.4% year-to-date (YTD), while JPAN has returned 11.57%. That puts RAYJ better performer ahead so far this year.

Which ETF is attracting more investor money: RAYJ or JPAN?

Year-to-date, the RAYJ ETF saw +$6M in flows, compared to +$2M for JPAN.

Which ETF is more volatile: RAYJ or JPAN?

Over the past year, RAYJ had a volatility of 22.01%, while JPAN experienced 21.2%.

Which ETF is bigger: RAYJ or JPAN?

As of May 6, 2026, RAYJ holds $25.05 M in assets under management (AUM), while JPAN manages $7.97 M.

What sectors do the RAYJ and JPAN ETFs invest in?

RAYJ leans toward sectors like Consumer Discretionary, Industrials and Information Technology. Meanwhile, JPAN focuses on Industrials, Consumer Discretionary and Financials.

What are the top holdings of the RAYJ ETF and JPAN ETF?

RAYJ top holdings include MITSUBISHI UFJ FINANCIAL GROUP, FUJIKURA and FOOD & LIFE COMPANIES LTD.. JPAN holds in its top three: TOKYO ELECTRON, MITSUBISHI UFJ FINANCIAL GROUP and HITACHI.

RAYJvsJPANETF Comparison

Rayliant SMDAM Japan Equity ETF

Matthews Japan Active ETF

RAYJ vs JPAN performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the RAYJ and JPAN ETFs performed in 2026?

As of May 6, 2026, RAYJ is up 18.4% year-to-date (YTD), while JPAN has returned 11.57%. That puts RAYJ better performer ahead so far this year.

Which ETF is attracting more investor money: RAYJ or JPAN?

Year-to-date, the RAYJ ETF saw +$6M in flows, compared to +$2M for JPAN.

Which ETF is more volatile: RAYJ or JPAN?

Over the past year, RAYJ had a volatility of 22.01%, while JPAN experienced 21.2%.

Which ETF is bigger: RAYJ or JPAN?

As of May 6, 2026, RAYJ holds $25.05 M in assets under management (AUM), while JPAN manages $7.97 M.

What sectors do the RAYJ and JPAN ETFs invest in?

RAYJ leans toward sectors like Consumer Discretionary, Industrials and Information Technology. Meanwhile, JPAN focuses on Industrials, Consumer Discretionary and Financials.

What are the top holdings of the RAYJ ETF and JPAN ETF?

RAYJ top holdings include MITSUBISHI UFJ FINANCIAL GROUP, FUJIKURA and FOOD & LIFE COMPANIES LTD.. JPAN holds in its top three: TOKYO ELECTRON, MITSUBISHI UFJ FINANCIAL GROUP and HITACHI.

Which ETF is more diversified: RAYJ or JPAN?

RAYJ holds 31 securities with 63.44% of its assets in the top 15. JPAN has 55 securities and a top 15 weight of 44.3%.

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