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How to invest in Japan using ETFs
How do I invest in Japanese stocks?
The easiest way to invest in the whole Japanese stock market is to invest in a broad market index. This can be done at low cost by using ETFs.
On the Japanese stock market you'll find 4 indices which are tracked by ETFs. Besides these indices 4 alternative indices on small and mid caps or equity strategies can be considered.
A speciality for ETFs on Japan is the large number of currency hedged ETFs that are available. In total there are 4 currency hedged indices tracked by 5 ETFs.
Performance of Japanese stocks (MSCI Japan)
1 month: -0,88%
1 year: 9,85%
3 years: 43,37%
5 years: 46,87%
Indices in comparison
The best indices for ETFs on Japan
For an investment in the Japanese stock market, there are 4 indices available which are tracked by 6 ETFs. On the FTSE Japan index there are 2 ETFs. On the MSCI Japan index there are 2 ETFs. On the Nikkei 225® index there is 1 ETF. On the Solactive GBS Japan Large & Mid Cap index there is 1 ETF. The total expense ratio (TER) of ETFs on these indices is between 0,05% p.a. and 0,12% p.a..
| Index | Investment focus | Number of ETFs | Number of constituents | Short description |
|---|---|---|---|---|
FTSE Japan | Japan | 2 ETFs | 515 (31/08/2023) | The FTSE Japan index tracks Japanese large and mid cap stocks. Index factsheet |
MSCI Japan | Japan | 2 ETFs | 182 (28/11/2025) | The MSCI Japan index tracks leading Japanese stocks. Index factsheet |
Nikkei 225® | Japan | 1 ETF | 225 | The Nikkei 225® index tracks the 225 most actively traded stocks on the first section of the Tokyo Stock Exchange. Index factsheet |
Solactive GBS Japan Large & Mid Cap | Japan | 1 ETF | 330 (31/08/2023) | The Solactive GBS Japan Large & Mid Cap index tracks large and mid-cap securities from Japan. Index factsheet |
| ETF ISIN | Fund size in m EUR | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| Vanguard FTSE Japan UCITS ETF (USD) DistributingIE00B95PGT31 | 2.227 | 0,10% p.a. | Distribueren | Ierland | Volledige replicatie | |
| Amundi Prime Japan UCITS ETF DR (D)LU1931974775 | 2.222 | 0,05% p.a. | Distribueren | Luxemburg | Volledige replicatie | |
| iShares MSCI Japan UCITS ETF (Dist)IE00B02KXH56 | 1.557 | 0,12% p.a. | Distribueren | Ierland | Volledige replicatie | |
| Xtrackers Nikkei 225 UCITS ETF 1DLU0839027447 | 1.515 | 0,09% p.a. | Distribueren | Luxemburg | Volledige replicatie | |
| Vanguard FTSE Japan UCITS ETF (USD) AccumulatingIE00BFMXYX26 | 1.132 | 0,10% p.a. | Accumulerend | Ierland | Volledige replicatie | |
| UBS Core MSCI Japan UCITS ETF JPY disLU0136240974 | 916 | 0,12% p.a. | Distribueren | Luxemburg | Volledige replicatie |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| MSCI Japan | 0,33% | 5,96% | 10,51% | 12,69% | 44,14% | |
| Solactive GBS Japan Large & Mid Cap | 0,63% | 5,82% | 9,91% | 12,87% | 43,77% | |
| FTSE Japan | 0,66% | 5,52% | 10,78% | 13,05% | 44,42% | |
| Nikkei 225® | -3,26% | 12,50% | 20,34% | 17,46% | 50,72% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| Solactive GBS Japan Large & Mid Cap | 12,20% | 15,58% | 15,34% | -10,89% | 10,03% | |
| MSCI Japan | 12,76% | 15,13% | 15,51% | -12,29% | 9,56% | |
| FTSE Japan | 13,26% | 14,50% | 15,36% | -10,69% | 9,50% | |
| Nikkei 225® | 17,27% | 15,94% | 17,41% | -14,72% | 3,60% |
Source: justETF.com; As of 30/11/2025; Calculations in EUR based on the largest ETF of the respective index.
The best Japan ETFs
by 1 year return
| 1 | Xtrackers Nikkei 225 UCITS ETF 1D | 17,46% |
| 2 | Vanguard FTSE Japan UCITS ETF (USD) Accumulating | 13,05% |
| 3 | Vanguard FTSE Japan UCITS ETF (USD) Distributing | 13,05% |
The cheapest Japan ETFs
by total expense ratio (TER)
| 1 | Amundi Prime Japan UCITS ETF DR (D) | 0,05% p.a. |
| 2 | Xtrackers Nikkei 225 UCITS ETF 1D | 0,09% p.a. |
| 3 | Vanguard FTSE Japan UCITS ETF (USD) Accumulating | 0,10% p.a. |
Japan ETFs with hedged currency risk
Currency hedged investing in Japanese stocks is popular. In total, you can consider 4 currency hedged Japan indices tracked by 5 ETFs. The total expense ratio (TER) of ETFs on Japan indices with currency hedge is between 0,15% p.a. and 0,64% p.a..
| Index | Investment focus | Number of ETFs | Number of constituents | Short description |
|---|---|---|---|---|
| FTSE Japan (EUR Hedged) | Japan | 1 ETF | The FTSE Japan (EUR Hedged) index tracks Japanese large and mid cap stocks. Currency hedged to Euro (EUR). Index factsheet | |
| FTSE Japan (USD Hedged) | Japan | 1 ETF | 507 (30/07/2021) | The FTSE Japan (USD Hedged) index tracks Japanese large and mid cap stocks. Currency hedged to US-Dollar (USD). Index factsheet |
| MSCI Japan (USD Hedged) | Japan | 2 ETFs | 272 (30/11/2022) | The MSCI Japan (USD Hedged) index tracks leading stocks on the Japanese market. Currency hedged to US Dollar (USD). Index factsheet |
| TOPIX® (EUR Hedged) | Japan | 1 ETF | The TOPIX® (EUR Hedged) index tracks Japanese stocks on the TSE First Section segment of the Tokyo Stock Exchange, which comprises the largest market capitalisations. Currency hedged to Euro (EUR). |
| ETF ISIN | Fund size in m EUR | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| iShares MSCI Japan USD Hedged UCITS ETF (Acc)IE00BCLWRG39 | 372 | 0,64% p.a. | Accumulerend | Ierland | Geoptimaliseerde sampling | |
| Xtrackers MSCI Japan UCITS ETF 2D USD hedgedLU0927735406 | 146 | 0,40% p.a. | Distribueren | Luxemburg | Volledige replicatie | |
| Vanguard FTSE Japan UCITS ETF EUR Hedged AccumulatingIE00BFMXYY33 | 61 | 0,15% p.a. | Accumulerend | Ierland | Volledige replicatie | |
| Amundi Japan TOPIX II UCITS ETF EUR Hedged DistFR0011475078 | 58 | 0,45% p.a. | Distribueren | Frankrijk | Volledige replicatie | |
| Vanguard FTSE Japan UCITS ETF USD Hedged AccumulatingIE00BFMXZJ56 | 11 | 0,15% p.a. | Accumulerend | Ierland | Volledige replicatie |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| MSCI Japan (USD Hedged) | 1,73% | 13,17% | 21,18% | 20,37% | 81,33% | |
| FTSE Japan (USD Hedged) | 2,15% | 12,99% | 21,93% | 21,99% | 84,47% | |
| FTSE Japan (EUR Hedged) | 2,35% | 11,44% | 22,99% | 30,74% | 95,00% | |
| TOPIX® (EUR Hedged) | 2,74% | 11,10% | 21,81% | 31,26% | 92,35% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| FTSE Japan (USD Hedged) | 15,75% | 33,48% | 29,90% | 4,23% | 22,25% | |
| MSCI Japan (USD Hedged) | 16,04% | 33,57% | 29,82% | 3,52% | 21,61% | |
| TOPIX® (EUR Hedged) | 25,37% | 22,10% | 30,40% | -4,23% | 10,85% | |
| FTSE Japan (EUR Hedged) | 25,78% | 23,04% | 31,48% | -4,65% | 12,62% |
Source: justETF.com; As of 30/11/2025; Calculations in EUR based on the largest ETF of the respective index.
Alternative investment opportunities
Japan indices on small and mid caps or equity strategies
Alternatively, you may invest in indices on small and mid caps or equity strategies. In total, you can invest in 4 alternative indices on Japan tracked by 4 ETFs. The total expense ratio (TER) of ETFs on these alternative indices is between 0,10% p.a. and 0,58% p.a..
| Index | Investment focus | Number of ETFs | Number of constituents | Short description |
|---|---|---|---|---|
| MSCI Japan SRI Select Reduced Fossil Fuels | Japan Sociaal/Milieu | 1 ETF | 52 (30/11/2022) | The MSCI Japan SRI Select Reduced Fossil Fuels index tracks Japanese stocks considering only companies with very high Environmental, Social and Governance (ESG) ratings relative to their sector peers, to ensure the inclusion of the best of class companies from an ESG perspective and avoiding companies incompatible with values screen or having exposure to fossil fuels through extraction and production activities, power generation activities or reserves ownership. The weight of each company is capped to 5%. Index factsheet |
| MSCI Japan Screened | Japan Sociaal/Milieu | 1 ETF | 232 (30/11/2022) | The MSCI Japan Screened index tracks Japanese companies. The index excludes companies that are involved in businesses related to thermal coal, controversial weapons, tobacco and other controversial industries. Index factsheet |
| MSCI Japan Small Cap | Japan Small Cap | 1 ETF | 783 (28/11/2025) | The MSCI Japan Small Cap index tracks Japanese small cap stocks. Index factsheet |
| Solactive Core Japan Large & Mid Cap | Japan Sociaal/Milieu | 1 ETF | 330 (30/11/2022) | The Solactive Core Japan Large & Mid Cap index tracks the Japanese market and measures the performance of large and mid-cap publicly traded which satisfy minimum criteria relating to liquidity and size and excludes companies: (a) engaged in pure coal mining; (b) involved in the production of controversial weapons, such as cluster weapons, anti-personnel mines or biological and chemical weapons; or (c) that, for a continuous period of three years, have been classified as being in breach of at least one of the UN Global Compact principles. Index factsheet |
| ETF ISIN | Fund size in m EUR | TER in % | Use of profits | Fund domicile | Replication method | |
|---|---|---|---|---|---|---|
| L&G Japan Equity UCITS ETFIE00BFXR5T61 | 708 | 0,10% p.a. | Accumulerend | Ierland | Volledige replicatie | |
| iShares MSCI Japan Small Cap UCITS ETF (Dist)IE00B2QWDY88 | 521 | 0,58% p.a. | Distribueren | Ierland | Geoptimaliseerde sampling | |
| iShares MSCI Japan Screened UCITS ETF USD (Dist)IE00BFNM3M05 | 319 | 0,15% p.a. | Distribueren | Ierland | Geoptimaliseerde sampling | |
| iShares MSCI Japan SRI UCITS ETF USD (Dist)IE00BGDQ0V72 | 82 | 0,20% p.a. | Distribueren | Ierland | Volledige replicatie |
| Index | 1 month in % | 3 months in % | 6 months in % | 1 year in % | 3 years in % | |
|---|---|---|---|---|---|---|
| MSCI Japan SRI Select Reduced Fossil Fuels | 1,90% | 5,54% | 5,31% | 6,05% | 24,95% | |
| MSCI Japan Screened | 0,32% | 5,70% | 9,87% | 12,03% | 42,31% | |
| Solactive Core Japan Large & Mid Cap | 0,53% | 5,47% | 10,20% | 12,40% | 45,46% | |
| MSCI Japan Small Cap | 3,12% | 3,07% | 11,30% | 14,96% | 38,51% |
| Index | 2025 in % | 2024 in % | 2023 in % | 2022 in % | 2021 in % | |
|---|---|---|---|---|---|---|
| MSCI Japan SRI Select Reduced Fossil Fuels | 7,38% | 10,58% | 9,12% | -13,25% | 9,86% | |
| Solactive Core Japan Large & Mid Cap | 11,74% | 16,26% | 15,56% | -11,13% | 9,94% | |
| MSCI Japan Screened | 12,00% | 12,79% | 15,57% | -12,35% | 9,52% | |
| MSCI Japan Small Cap | 16,56% | 10,75% | 9,08% | -7,21% | 5,38% |
Source: justETF.com; As of 30/11/2025; Calculations in EUR based on the largest ETF of the respective index.