ETF Evaluator:
Matthews Japan Active ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Japan Stock Over the Last Year
| 56.1% | WisdomTree Japan Opportunities ETF (OPPJ) |
| 48.3% | WisdomTree Japan Hedged Equity ETF (DXJ) |
| 44.1% | Xtrackers MSCI Japan Hedged Equity ETF (DBJP) |
| 43.6% | Franklin FTSE Japan Hedged ETF (FLJH) |
| 42.7% | iShares Currency Hedged MSCI Japan ETF (HEWJ) |
Risk
Index
Risk
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ETF Details
Matthews Japan Active ETF Overview
Matthews Japan Active ETF (JPAN) is an actively managed International Equity Japan Stock exchange-traded fund (ETF). Matthews Asia Funds launched the ETF in 2023.
The investment seeks long-term capital appreciation.
Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in Japan.
About Matthews Japan Active ETF (JPAN)
There are 2 members of the management team with an average tenure of 2.86 years: Shuntaro Takeuchi (2023) and Donghoon Han (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MSCI Japan NR USD index with a weighting of 100%. Matthews Japan Active ETF has 54 securities in its portfolio. The top 10 holdings constitute 36.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Matthews Japan Active ETF is part of the Equity global asset class and is within the International Equity ETF group. Matthews Japan Active ETF has 97.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 97.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Matthews Japan Active ETF has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $2 billion average for the Japan Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JPAN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Matthews Japan Active ETF expense ratio is above average compared to funds in the Japan Stock category. Matthews Japan Active ETF has an expense ratio of 0.79%, which is 57% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Matthews Japan Active ETF has a portfolio turnover rate of 121%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 35% for the Japan Stock category.
Recently, in the month of July 2026, Matthews Japan Active ETF returned 0.1%, which earned it a grade of B, as the Japan Stock category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Matthews Japan Active ETF has a trailing yield of 4.38%, which is above the 2.67% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Matthews Japan Active ETF Grades
Year to date, the ETF has returned 16.8%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 29.8% over the past year (grade of D).
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JPAN Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JPAN Return (NAV) | 0.1% | 5.1% | 29.8% | na | na | na |
| JPAN Return (Price) | -1.3% | 4.2% | 29.5% | na | na | na |
| NAV +/- Price Return | 1.443% | 0.932% | 0.337% | na | na | na |
| Japan Stock Avg | 0.3% | 4.6% | 33.2% | 21.7% | 15.1% | 11.8% |
| JPAN Grade (NAV) | B | C | D | na | na | na |
| +/- Category (NAV) | -0.1% | 0.4% | -3.3% | na | na | na |
| JPAN Tax-Cost Ratio | na | na | 2.0% | na | na | na |
JPAN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JPAN Return (NAV) | 16.8% | 21.8% | 18.9% | na | na | na | na | na | na | na | na |
| JPAN Return (Price) | 15.8% | 22.9% | 18.3% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.057% | 0.053% | -0.034% | na | na | na | na | na | na | na | na |
| Japan Stock Avg | 16.7% | 28.3% | 13.9% | 25.8% | -8.2% | 5.5% | 7.6% | 18.3% | -15.2% | 25.5% | 3.3% |
| JPAN Grade (NAV) | C | F | B | na | na | na | na | na | na | na | na |
| +/- Category | 0.1% | -6.5% | 5.0% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 4.4% |
| Total Assets: | $ 10 Mil |
| Share Class Assets: | $ 10 Mil |
| Turnover: | 121.8% |
| Expense Ratio: | 0.79% |
| Index Fund: | No |
| Index Tracked: | MSCI Japan NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.9 years | |||
| Average Tenure: 2.9 years | |||
| Managers (Year): Takeuchi Shuntaro (2023), Han Donghoon (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 36.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 97.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 97.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Matthews Asia Funds |
| Phone Number: | 833-228-5605 |
| Website: | www.matthewsasia.com/ |
| Inception Date: | September 21, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.79% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.50% |
