MUFG Japan Small Cap Active ETF
ALTAR
Score™		 4.5% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 20.1x P/Sales
ratio		 1.2x
P/BV
ratio		 1.7x Div.
yield		 2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
MUFG Japan Small Cap Active ETF seeks to achieve long-term capital appreciation by investing primarily in small-cap Japanese equity securities through a dynamic, active investment strategy.

FUND BASICS
Category International Equities
Fund Sponsor MUFG
Website www.mufgetf.com/
Inception date Sep 16, 2025
Assets (mns) $23
Currency USD
Expense ratio 85 bp
Distributions

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 88
Wgt avg mkt cap (mns) $2,703
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MEIKO ELECTRONICS CO LTD 2.2 %
KANDENKO CO LTD 2.0 %
MICRONICS JAPAN CO LTD 1.9 %
FUJI MACHINE MFG CO LTD 1.9 %
HACHIJUNI BANK LTD/THE 1.9 %
JAPAN STEEL WORKS LTD 1.8 %
SHIZUOKA FINANCIAL GROUP INC 1.8 %
TOKYO OHKA KOGYO CO LTD 1.8 %
TOKYO TATEMONO CO LTD 1.8 %
KYOTO FINANCIAL GROUP INC 1.8 %
Total 18.8 %

TOP COUNTRY EXPOSURE
JAPAN 90.9 %
GERMANY 1.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
17.8% -- -- -- 18.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $61.05
30d moving avg. $58.20
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.45%
ADV underlying (mns) $0

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 150 potential alternatives to the MUFG Japan Small Cap Active ETF ETF based on the alternatives' overlap in portfolio holdings with MJSC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MJSC Expense: 85 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MJSC
Ticker Fund
Name		 Overlap1
vs MJSC
(%)		 Expense
ratio
(bp)		 Savings
vs MJSC
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs MJSC
(%)
FJP First Trust Japan AlphaDEX Fund 9.0 80 5 7.2 +2.6
DFJ WisdomTree Japan SmallCap Dividend Fund 8.3 58 27 6.5 +2.0
JIVE JPMorgan International Value ETF 8.2 55 30 8.3 +3.8
SCZ iShares MSCI EAFE Small-Cap ETF 5.7 40 45 6.0 +1.5
IMOM Alpha Architect International Quantitative Momentum ETF 4.5 49 36 4.0 -0.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 4.5 49 36 5.9 +1.4
FNDC Schwab Fundamental International Small Co. Index ETF 4.5 39 46 6.7 +2.2
CGV Conductor Global Equity Value ETF 4.3 130 -45 7.2 +2.7
AVDV Avantis International Small Cap Value ETF 4.3 36 49 7.5 +3.0
AVDS Avantis International Small Cap Equity ETF 4.1 30 55 5.9 +1.4
RAYJ Rayliant SMDAM Japan Equity ETF 4.0 72 13 2.9 -1.6
JAPN Horizon Kinetics Japan Owner Operator ETF 3.6 85 0 6.0 +1.5
DFIS Dimensional International Small Cap ETF 3.6 39 46 6.1 +1.6
DLS WisdomTree International SmallCap Dividend Fund 3.3 58 27 7.3 +2.8
DXJ WisdomTree Japan Hedged Equity Fund 3.3 48 37 5.2 +0.7
JPXN iShares JPX-Nikkei 400 ETF 2.9 48 37 5.3 +0.8
FLJP Franklin FTSE Japan ETF 2.9 9 76 5.3 +0.8
FLJH Franklin FTSE Japan Hedged ETF 2.8 9 76 5.1 +0.6
DIM WisdomTree International MidCap Dividend Fund 2.8 58 27 6.2 +1.7
FYLD Cambria Foreign Shareholder Yield ETF 2.6 59 26 10.0 +5.5
IBOT Vaneck Robotics ETF 2.6 47 38 3.2 -1.3
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.6 80 5 8.6 +4.1
PIO Invesco Global Water ETF 2.4 75 10 4.5 -0.1
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 2.3 24 61 6.8 +2.3
ISCF iShares International SmallCap Equity Factor ETF 2.3 23 62 7.2 +2.7
GWX SPDR S&P International Small Cap ETF 2.3 40 45 5.7 +1.2
IPAC iShares Core MSCI Pacific ETF 2.2 9 76 5.5 +0.9
TBLU Tortoise Global Water ESG ETF 2.2 40 45 4.7 +0.1
WSML iShares MSCI World Small-Cap ETF 2.1 15 70 5.4 +0.9
ROBO ROBO Global Robotics & Automation Index ETF 2.1 95 -10 2.2 -2.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 45 5.7 +1.2
FEOE First Eagle Overseas Equity ETF 2.0 79 6 6.1 +1.6
DWM WisdomTree International Equity Fund 2.0 48 37 5.6 +1.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.9 80 5 6.5 +1.9
AZTD Aztlan Global Stock Selection DM SMID ETF 1.9 75 10 4.1 -0.4
DFIC Dimensional International Core Equity 2 ETF 1.9 23 62 6.2 +1.7
KNO AXS Knowledge Leaders ETF 1.9 78 7 4.2 -0.4
DXIV Dimensional International Vector Equity ETF 1.8 34 51 6.5 +2.0
VPL Vanguard FTSE Pacific ETF 1.8 7 78 5.2 +0.7
EVX VanEck Environmental Services ETF 1.7 55 30 4.1 -0.4
AQWA Global X Clean Water ETF 1.7 50 35 5.1 +0.6
ETEC iShares Breakthrough Environmental Solutions ETF 1.7 47 38 2.6 -1.9
UFO Procure Space ETF 1.6 75 10 -0.1 -4.6
DISV Dimensional International Small Cap Value ETF 1.6 42 43 8.0 +3.5
CCNR ALPS CoreCommodity Natural Resources ETF 1.5 39 46 7.7 +3.2
SCHC Schwab International Small-Cap Equity ETF 1.5 11 74 6.5 +2.0
EFRA iShares Environmental Infrastructure and Industrials ETF 1.4 47 38 5.1 +0.6
INTF iShares International Equity Factor ETF 1.4 15 70 6.5 +2.0
JIG JPMorgan International Growth ETF 1.4 55 30 3.6 -0.9
DFSI Dimensional International Sustainability Core 1 ETF 1.4 24 61 5.7 +1.2
JPIN J.P. Morgan Diversified Return International Equity ETF 1.4 37 48 7.1 +2.6
DVYA iShares Asia/Pacific Dividend ETF 1.4 49 36 6.7 +2.2
WBAT WisdomTree Battery Value Chain and Innovation Fund 1.4 45 40 -0.9 -5.5
IDLV Invesco S&P International Developed Low Volatility ETF 1.4 25 60 6.3 +1.8
PBD Invesco Global Clean Energy ETF 1.3 75 10 0.2 -4.4
CGW Invesco S&P Global Water Index ETF 1.3 57 28 4.7 +0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 56 7.0 +2.4
DRIV Global X Autonomous & Electric Vehicles ETF 1.3 68 17 2.8 -1.7
IDRV iShares Self-driving EV & Tech ETF 1.3 47 38 1.2 -3.4
IBAT iShares Energy Storage & Materials ETF 1.3 47 38 1.5 -3.1
DWX SPDR S&P International Dividend ETF 1.3 45 40 6.7 +2.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.2 39 46 6.2 +1.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.2 30 55 6.3 +1.8
AVDE Avantis International Equity ETF 1.1 23 62 6.2 +1.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.1 8 77 6.2 +1.7
AVSD Avantis Responsible International Equity ETF 1.1 23 62 6.0 +1.5
HART IQ Healthy Hearts ETF 1.0 45 40 5.8 +1.3
DFAI Dimensional International Core Equity Market ETF 1.0 18 67 6.0 +1.5
IBUY Amplify Online Retail ETF 1.0 65 20 2.4 -2.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.0 39 46 6.9 +2.4
IPKW Invesco International BuyBack Achievers ETF 0.9 55 30 8.0 +3.5
EBLU Ecofin Global Water ESG Fund 0.9 40 45 4.3 -0.2
JHID John Hancock International High Dividend ETF 0.9 46 39 7.8 +3.3
AVIV Avantis International Large Cap Value ETF 0.9 25 60 6.9 +2.4
IEFA iShares Core MSCI EAFE ETF 0.9 7 78 6.1 +1.6
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 46 7.8 +3.3
GLOF iShares Global Equity Factor ETF 0.8 20 65 5.5 +1.0
IPAV Global X Infrastructure Development ex-U.S. ETF 0.8 55 30 5.5 +1.0
FBOT Fidelity Disruptive Automation ETF 0.8 50 35 2.8 -1.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.8 58 27 5.5 +1.0
CRAK VanEck Oil Refiners ETF 0.8 61 24 9.0 +4.5
ARVR First Trust Indxx Metaverse ETF 0.8 70 15 3.6 -0.9
ESPO VanEck Video Gaming and eSports ETF 0.8 56 29 6.6 +2.1
HERO Global X Video Games & Esports ETF 0.8 50 35 5.8 +1.3
NERD Roundhill Video Games ETF 0.8 50 35 7.9 +3.4
ODDS Pacer BlueStar Digital Entertainment ETF 0.8 60 25 4.7 +0.2
FDEV Fidelity International Multifactor ETF 0.8 18 67 7.2 +2.7
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 81 6.0 +1.5
DIHP Dimensional International High Profitability ETF 0.7 29 56 5.8 +1.3
DFIV Dimensional International Value ETF 0.7 27 58 7.8 +3.3
ION ProShares S&P Global Core Battery Metals ETF 0.7 58 27 5.1 +0.6
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 82 5.8 +1.3
VEA Vanguard FTSE Developed Markets ETF 0.7 3 82 6.0 +1.4
MOO VanEck Agribusiness ETF 0.7 53 32 8.9 +4.4
IQDG WisdomTree International Quality Dividend Growth Fund 0.6 42 43 5.8 +1.3
VIGI Vanguard International Dividend Appreciation ETF 0.6 10 75 6.1 +1.6
IFGL iShares International Developed Real Estate ETF 0.6 48 37 7.2 +2.7
SOCL Global X Social Media ETF 0.6 65 20 12.5 +8.0
IXUS iShares Core MSCI Total International Stock ETF 0.6 7 78 6.6 +2.0
FDHT Fidelity Digital Health ETF 0.6 39 46 1.7 -2.8
GQRE FlexShares Global Quality Real Estate Index Fund 0.6 45 40 7.3 +2.8
SCHF Schwab International Equity ETF 0.6 6 79 6.0 +1.5
VSGX Vanguard ESG International Stock ETF 0.5 10 75 6.6 +2.1
IMFL Invesco International Developed Dynamic Multifactor ETF 0.5 34 51 5.2 +0.7
VXUS Vanguard Total International Stock ETF 0.5 5 80 6.6 +2.1
IGRO iShares International Dividend Growth ETF 0.5 15 70 6.7 +2.2
DTH WisdomTree International High Dividend Fund 0.5 58 27 7.3 +2.8
HUMN Roundhill Humanoid Robotics ETF 0.5 75 10 1.0 -3.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.5 10 75 8.3 +3.8
STCE Schwab Crypto Thematic ETF 0.5 30 55 2.4 -2.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.5 45 40 6.7 +2.2
DIVI Franklin International Core Dividend Tilt Index ETF 0.5 9 76 6.6 +2.1
LVHI Franklin International Low Volatility High Dividend Index ET 0.5 40 45 7.5 +3.0
BULD Pacer BlueStar Engineering the Future ETF 0.5 60 25 0.3 -4.2
FPAG FPA Global Equity ETF 0.5 49 36 5.9 +1.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.5 12 73 8.4 +3.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.4 25 60 7.4 +2.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 4 81 6.7 +2.2
TAN Invesco Solar ETF 0.4 67 18 3.7 -0.8
FRNW Fidelity Clean Energy ETF 0.4 39 46 1.7 -2.9
RNRG Global X Renewable Energy Producers ETF 0.4 66 19 4.3 -0.2
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.4 58 27 5.4 +0.9
FEGE First Eagle Global Equity ETF 0.4 79 6 6.0 +1.5
GSID Goldman Sachs MarketBeta International Equity ETF 0.4 20 65 5.9 +1.4
VYMI Vanguard International High Dividend Yield ETF 0.3 17 68 8.0 +3.5
OCEN IQ Clean Oceans ETF 0.3 45 40 4.6 +0.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 27 3.3 -1.3
HFXI IQ FTSE International Equity Currency Neutral ETF 0.3 20 65 5.7 +1.2
BKIE BNY Mellon International Equity ETF 0.3 4 81 6.0 +1.5
HTEC ROBO Global Healthcare Technology and Innovation ETF 0.3 68 17 2.6 -1.9
IQSI IQ Candriam International Equity ETF 0.3 15 70 5.6 +1.1
ERET iShares Environmentally Aware Real Estate ETF 0.2 30 55 6.9 +2.4
CZAR Themes Natural Monopoly ETF 0.2 35 50 5.4 +0.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 67 6.4 +1.8
VT Vanguard Total World Stock ETF 0.2 6 79 5.0 +0.5
SRVR Pacer Data & Infrastructure Real Estate ETF 0.2 55 30 3.7 -0.8
IDHQ Invesco S&P International Developed High Quality ETF 0.2 29 56 5.4 +0.9
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -4 4.4 -0.1
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 60 5.5 +1.0
QINT American Century Quality Diversified International ETF 0.1 39 46 6.6 +2.1
INEQ Columbia International Equity Income ETF 0.1 45 40 7.7 +3.2
WRND IQ Global Equity R&D Leaders ETF 0.1 18 67 3.9 -0.6
DEW WisdomTree Global High Dividend Fund 0.1 58 27 7.3 +2.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 76 4.8 +0.3
GGME Invesco Next Gen Media and Gaming ETF 0.1 60 25 4.5 -0.0
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 43 4.1 -0.4
ERTH Invesco MSCI Sustainable Future ETF 0.1 62 23 2.9 -1.6
XT iShares Exponential Technologies ETF 0.0 46 39 3.9 -0.7
IGPT Invesco AI and Next Gen Software ETF 0.0 60 25 2.4 -2.1
JHMD John Hancock Multifactor Developed International ETF 0.0 39 46 6.2 +1.7

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 MUFG Japan Small Cap Active ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.9 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 85 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 CATEGORY
AVERAGE		 1.64
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.