MJSC vs SCJ

MJSCCMUFG Japan Small Cap Active ETF

SCJAiShares MSCI Japan Small-Cap ETF

In short

MJSC MUFG's first US-listed ETF: an active Tokyo stock-picking desk digging through Japanese small caps, roughly 100 names deep, in a category otherwise run by index trackers.

SCJ Japan past the household-name exporters. SCJ holds roughly 800 of the country's smaller listed companies, the domestic slice that large-cap Japan benchmarks leave out, and it has been running that mandate since 2007.

Stated mandate

MJSC The Fund seeks long-term capital appreciation.

SCJ The fund seeks to track an index composed of small-capitalization Japanese equities.

Why people hold it

• MJSC Active where the category is mostly passive: a quantitative screen on market cap and credit risk, then growth, quality and value work, rather than cloning a small-cap index.mufgetfs.com
• Japanese plumbing, not a Japan sleeve bolted onto a US shop. Mitsubishi UFJ Trust and Banking sub-advises alongside Clearbrook, so the research sits near the companies.mufgetfs.cometfexpress.com
• The portfolio matches what the prospectus promises: Japanese small-cap equities aimed at long-term capital appreciation, spread across about 100 names.

• SCJ One job, done tightly: it tracks the MSCI Japan Small Cap Index, roughly 800 names deep, the part of the market big blue-chip Japan benchmarks leave on the floor.ishares.com
• Trading since 2007, so there is a long live record here, not a backtest, and it has stayed tight to its index over that stretch.
• About 800 holdings means no single stock carries the portfolio, and the 0.50% fee sits right at the median for single-country Japan funds.

Worth knowing

• MJSC Active Japan costs: 1.01% net of a waiver through December 31, 2027 (1.68% gross), above the category's typical fee. Index peers SCJ (0.50%) and FLJP (0.09%) charge far less.
• A small fund that trades lightly, which can mean wider spreads and larger premiums or discounts than the category's big index names.
• Launched in 2025, so there is little track record to judge, and cash comes back once or twice a year rather than quarterly.

• SCJ 0.50% a year is the going rate for the niche, but broad Japan trackers like FLJP (0.09%) and BBJP (0.19%) charge a fraction. Small-cap coverage is the upcharge.
• Moderately traded, and Tokyo is closed while US markets are open, so spreads and price-to-value gaps can widen at the edges of the session.
• Unhedged: the holdings are priced in yen, so currency swings land on top of the stock moves, in both directions. Distributions come once or twice a year.ishares.com

Full MJSC profile⁠

Full SCJ profile⁠