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RAYJvsJPXNETF Comparison

ETF 1

RAYJ

Rayliant SMDAM Japan Equity ETF

This fund is part of

Japan Blended Cap

-0.08%

Full RAYJ fund page

VS

ETF 2

JPXN

iShares JPX-Nikkei 400 ETF

This fund is part of

Japan Blended Cap

-0.08%

Full JPXN fund page

Rayliant SMDAM Japan Equity ETF (RAYJ) and iShares JPX-Nikkei 400 ETF (JPXN) belong to the same industry segment: Japan Blended Cap. RAYJ's top 3 sector exposures are Consumer Discretionary, Industrials and Information Technology. In contrast, JPXN's top sector exposures are Industrials, Financials and Information Technology. RAYJ is more expensive with a Total Expense Ratio (TER) of 1.67%, versus 0.48% for JPXN. RAYJ is up 18.13% year-to-date (YTD) with +$6M in YTD flows. JPXN performs worse with 11.08% YTD performance, and +$35M in YTD flows. Run a side-by-side ETF comparison of RAYJ and JPXN 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 JPXN 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 05/01/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	RAYJ JPXN	+9.14%+3.97%	+12.03%+3.44%	+18.13%+11.08%	+41.20%+28.65%	n/a+65.38%	n/a+51.04%
Flows	RAYJ JPXN	+$1K-	+$1K+$21M	+$6M+$35M	+$6M+$35M	-+$46M	-+$38M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	RAYJ JPXN	+32.90%+26.83%	+21.97%+19.67%	n/a+18.43%	n/a+17.91%
Max drawdown	RAYJ JPXN	-15.52%-12.77%	-15.52%-12.77%	n/a-15.27%	n/a-33.31%
Max drawdown duration	RAYJ JPXN	61d82d	61d82d	n/a225d	n/a903d

Trading data

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	RAYJ	JPXN
Last sale 5/5/2026 at 1:30 PM	$38.80	$96.05
Previous close 05/04/2026	$38.29	$95.19
Consolidated volume 05/04/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 6, 2026

1-year trailing difference

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RAYJ

is actively managed and doesn’t replicate an index

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	RAYJ	JPXN
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

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

Live

Closed

	RAYJ	JPXN
Last price	$38.80	$96.05
1D performance	+1.35%	+0.90%
AuM	$24.99 M	$144.00 M
E/R	1.67%	0.48%

Characteristics

	RAYJ	JPXN
Management strategy	Active	Passive
Provider	Rayliant Asset Management	iShares
Benchmark	-	JPX-Nikkei 400 Index
N° of holdings	31	391
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	April 4, 2024	October 23, 2001
ESG	No	No

More RAYJ data on Trackinsight

More JPXN data on Trackinsight

Exposure

Countries

RAYJ

Japan

99.59%

Other

0.41%

JPXN

Japan

98.14%

Other

1.86%

Sectors

RAYJ

Consumer Discreti.

30.77%

Industrials

30.77%

Information Techn.

10.83%

Financials

7.52%

Other

20.11%

JPXN

Industrials

27.33%

Financials

13.68%

Information Techn.

13.61%

Consumer Discreti.

13.54%

Other

31.82%

Diversification

RAYJ

Total weight of top 15 holdings out of 15

63.44%

JPXN

Total weight of top 15 holdings out of 15

25.76%

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%

JPXN

MITSUI

2.43%

MITSUBISHI

2.37%

MIZUHO FINANCIAL

1.93%

ADVANTEST

1.76%

SUMITOMO MITSUI

1.75%

TOKYO ELECTRON

1.62%

SOFTBANK GROUP CORP

1.58%

SHIN-ETSU CHEM

1.57%

ITOCHU

1.57%

MITSUBISHI UFJ FINANCIAL GROUP

1.56%

MITSUBISHI ELECTRIC

1.56%

TOKIO MARINE HOLDINGS

1.56%

TOYOTA

1.53%

MITSUBISHI HVY

1.50%

HOYA

1.48%

Frequently asked questions about RAYJ and JPXN

How have the RAYJ and JPXN ETFs performed in 2026?

As of May 1, 2026, RAYJ is up 18.13% year-to-date (YTD), while JPXN has returned 11.08%. That puts RAYJ better performer ahead so far this year.

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

Year-to-date, the RAYJ ETF saw +$6M in flows, compared to +$35M for JPXN.

Which ETF is more volatile: RAYJ or JPXN?

Over the past year, RAYJ had a volatility of 21.97%, while JPXN experienced 19.67%.

Which ETF is bigger: RAYJ or JPXN?

As of May 1, 2026, RAYJ holds $24.99 M in assets under management (AUM), while JPXN manages $144.00 M.

What sectors do the RAYJ and JPXN ETFs invest in?

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

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

RAYJ top holdings include MITSUBISHI UFJ FINANCIAL GROUP, FUJIKURA and FOOD & LIFE COMPANIES LTD.. JPXN holds in its top three: MITSUI, MITSUBISHI and MIZUHO FINANCIAL.

RAYJvsJPXNETF Comparison

Rayliant SMDAM Japan Equity ETF

iShares JPX-Nikkei 400 ETF

RAYJ vs JPXN 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 JPXN ETFs performed in 2026?

As of May 1, 2026, RAYJ is up 18.13% year-to-date (YTD), while JPXN has returned 11.08%. That puts RAYJ better performer ahead so far this year.

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

Year-to-date, the RAYJ ETF saw +$6M in flows, compared to +$35M for JPXN.

Which ETF is more volatile: RAYJ or JPXN?

Over the past year, RAYJ had a volatility of 21.97%, while JPXN experienced 19.67%.

Which ETF is bigger: RAYJ or JPXN?

As of May 1, 2026, RAYJ holds $24.99 M in assets under management (AUM), while JPXN manages $144.00 M.

What sectors do the RAYJ and JPXN ETFs invest in?

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

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

RAYJ top holdings include MITSUBISHI UFJ FINANCIAL GROUP, FUJIKURA and FOOD & LIFE COMPANIES LTD.. JPXN holds in its top three: MITSUI, MITSUBISHI and MIZUHO FINANCIAL.

Which ETF is more diversified: RAYJ or JPXN?

RAYJ holds 31 securities with 63.44% of its assets in the top 15. JPXN has 393 securities and a top 15 weight of 25.76%.

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