Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
Lazard Japanese Equity ETF
$39.13−0.16 (−0.42%)
- 0.60%
- $86M
- +31.2%
- 1.12%
- 0M sh
- $38.94
- low $28.92high $39.98
The ETF.net JPY Grade
C
Score 50 out of 100
- 13 of 18
Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D35 out of 100Rank 12 of 18Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 14Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C44 out of 100Rank 12 of 18Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F21 out of 100Rank 15 of 18Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C41 out of 100Rank 14 of 18Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F17 out of 100Rank 17 of 18
Our read on JPY
CMost Japan ETFs just buy the index. JPY hands the stock picking to Lazard's Japan team, which has run the strategy for decades, and holds a concentrated, non-diversified slice of the market instead.
The Portfolio seeks long-term capital appreciation.
Why people hold it
- Active, not index-tracking: a local, bilingual Lazard team chooses the names, a rarity in a category where the biggest funds simply replicate a Japan benchmark.lazardassetmanagement.com
- The prospectus commits at least 80% of net assets to equities traded on Japanese markets, and the portfolio has stayed tightly inside that Japan-only lane.finance.yahoo.com
- Launched in 2025 as one of Lazard's first US active ETFs, putting a long-running institutional Japan strategy into an exchange-traded wrapper.lazard.com
Worth knowing
- Costs 0.60% a year, above the typical Japan fund and well above index trackers like FLJP and FLJH at 0.09%. Research is what the premium buys.
- A 2025 launch, modest in size and thinly traded, so spreads can run wider than at the giant Japan trackers and there is little history to judge.
- Non-diversified and concentrated: a handful of names drive results, which can land far from the broad Japan market in either direction.finance.yahoo.com
JPY Holdings
- Stocks
- 63
- 37%
- 8306.T
Geography
- Japan100.00%
Developed 100% · Emerging 0%
JPY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
JPY$13,115
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | JPY |
|---|---|
| Year to date | +23.4% |
| 1 month | −1.3% |
| 3 months | +3.7% |
| 1 year | +31.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | JPY |
|---|---|---|
| 2026 YTD | +23.4% | |
| 2025 | +39.9% |
JPY in the news
JPY Dividends
- 1.12%
- $0.44
- $0.23 per share
- Twice a year
Distribution history
JPY Risk
- 13.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.80
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −15.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.70
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JPY Cost
0.60%
JPY0.60%
- The middle half of Japan funds
- Median 0.54%
11 of the 18 Japan funds charge less.
Other funds in Japan
- CMJSCMUFG Japan Small Cap Active ETFExpense ratio 0.75%1 year return +33.7%
- CFJPFirst Trust Japan AlphaDEX FundExpense ratio 0.80%1 year return +28.2%
- CHEWJiShares Currency Hedged MSCI Japan ETFExpense ratio 1.02%1 year return +39.6%
- CJPANMatthews Japan Active ETF JPANExpense ratio 0.79%1 year return +29.7%
- CNBJPNeuberger Berman Japan Equity ETFExpense ratio 1.92%1 year return +28.1%