ETF Evaluator:
MUFG Japan Small Cap Active ETF ()
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(as of Aug 24)
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
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Risk
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ETF Details
MUFG Japan Small Cap Active ETF Overview
MUFG Japan Small Cap Active ETF (MJSC) is an actively managed International Equity Japan Stock exchange-traded fund (ETF). MUFG ETF launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund is an actively-managed exchange-traded fund (“ETF”) and under normal conditions seeks to achieve its investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities of small capitalization companies that are domiciled in or exercise the predominant part of their economic activity in Japan.
About MUFG Japan Small Cap Active ETF (MJSC)
There are 2 members of the management team with an average tenure of 0.87 years: Yoshiro Mizukami (2025) and Yoshitaka Nagano (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
MUFG Japan Small Cap Active ETF has 100 securities in its portfolio. The top 10 holdings constitute 18.5% 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.
MUFG Japan Small Cap Active ETF is part of the Equity global asset class and is within the International Equity ETF group. MUFG Japan Small Cap Active ETF has 99.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 99.7% 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). MUFG Japan Small Cap Active ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $22 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.
MJSC 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 MUFG Japan Small Cap Active ETF expense ratio is high compared to funds in the Japan Stock category. MUFG Japan Small Cap Active ETF has an expense ratio of 1.01%, which is 100% 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. MUFG Japan Small Cap Active ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 35% for the Japan Stock category.
Recently, in the month of July 2026, MUFG Japan Small Cap Active ETF returned -1.9%, which earned it a grade of F, 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.
MUFG Japan Small Cap Active ETF has a trailing yield of 0.00%, which is below 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.
MUFG Japan Small Cap Active ETF Grades
Year to date, the ETF has returned 21.0%, 4.3 percentage points better than the category, which translates into a grade of A.
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MJSC 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 |
|
| MJSC Return (NAV) | -1.9% | 3.0% | na | na | na | na |
| MJSC Return (Price) | -3.3% | 5.7% | na | na | na | na |
| NAV +/- Price Return | 1.414% | -2.661% | na | na | na | na |
| Japan Stock Avg | 0.3% | 4.6% | 33.2% | 21.7% | 15.1% | 11.8% |
| MJSC Grade (NAV) | F | D | na | na | na | na |
| +/- Category (NAV) | -2.2% | -1.6% | na | na | na | na |
| MJSC Tax-Cost Ratio | na | na | na | na | na | na |
MJSC Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MJSC Return (NAV) | 21.0% | na | na | na | na | na | na | na | na | na | na |
| MJSC Return (Price) | 19.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.060% | na | na | 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% |
| MJSC Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 4.3% | na | na | 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: | -- |
| Total Assets: | $ 22 Mil |
| Share Class Assets: | $ 22 Mil |
| Turnover: | na |
| Expense Ratio: | 1.01% |
| Index Fund: | No |
| Index Tracked: | N/A |
| 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: 0.9 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Mizukami Yoshiro (2025), Nagano Yoshitaka (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 100 |
| % in Top 10 Holdings: | 18.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 99.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 99.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.3% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | MUFG ETF |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | September 16, 2025 |
Expenses and Fees
| Expense Ratio (%): | 1.01% (Rating: High) |
| Category Average Expense Ratio (%): | 0.50% |
