JPMorgan BetaBuilders Japan ETF

JPMorgan BetaBuilders Japan ETF (BBJP) is an index fund tracking the Morningstar Japan Target Market Exposure Index, giving low-cost access to large and mid-size Japanese companies led by Mitsubishi UFJ Financial Group and Toyota Motor. Its 0.19% annual expense ratio is well under the 0.50% charged by iShares MSCI Japan ETF (EWJ), whose holdings overlap about 95%, though Franklin FTSE Japan ETF (FLJP) costs less at 0.09%. Its dollar value also moves with the yen.

• Over the year to Nov 2, 2026, BBJP returned +14.9%, 5th of 6 among similar funds.
• Its 5-year annualized return was +8.6%.
• In the 2020 COVID crash it fell 25% and regained its old high 2.8 months after the low.
• Its worst full calendar year was 2022 (-17.3%); its best was 2025 (+26.5%).
• The deepest fall in its price history was 32.7% (Sep 15, 2021 to Oct 14, 2022), recovered by Mar 1, 2024.

As of Jul 31, 2026, the fund held 173 securities; the ten largest made up 28.76% of assets.

• Over the three months to Jul 31, 2026, investors added a net $987.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +4.06%, -0.29%, -1.31%.

BBJP tracks the Morningstar Japan Target Market Exposure Index. The index draws on stocks traded mainly on the Tokyo or Nagoya stock exchanges and targets 85% of that market by value, so it holds mostly large and mid-size companies. Each stock is weighted by free-float market capitalization: share price times shares available to the public, so the biggest companies count most. As of January 30, 2026, the index held 180 stocks worth $2.3 billion to $260.2 billion.

The fund aims to replicate the index, owning nearly every stock in about the same proportions. When that isn't practical, it may use representative sampling, holding a subset picked to mimic the index, which can make tracking less precise. It must keep at least 80% of assets in index stocks and may put up to 10% in exchange-traded futures and forward currency contracts, agreements to trade later at a set price. As of July 31, 2026, it held 173 stocks, 0.69% cash and a tiny TOPIX index derivative.

The fund rebalances quarterly with the index. Its February 25, 2026 prospectus reported 5% portfolio turnover, meaning a small share of holdings was replaced over a year. It doesn't try to beat the index or shift to cash when markets fall. Because it owns yen-priced stocks, a stronger dollar lowers its value for US investors and a weaker dollar raises it.

• BBJP charges 0.19% a year, versus an average of 0.4% for the similar funds below (3rd of 6, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $243 over 10 years (assuming a 5% annual return).

It adds Japanese companies and yen exposure that a US-focused portfolio may lack, but as a single-country stock fund it works as a complement to broader holdings, not a replacement.

BBJP launched in June 2018, so it has no 2008 crisis record. It fell 25% in the 2020 COVID crash but regained its peak by June 8, 2020. The 2022 bear market was harder: a 27.1% drop that took about 15 months to recover. Its deepest decline, 32.7%, ran from September 15, 2021, to October 14, 2022, and it stayed below that high until March 1, 2024. Its worst calendar year was 2022, down 16.78%. Withdrawals in that stretch meant cashing out below the peak.

Its trailing 12-month yield was 4.62% as of October 29, 2026, but it pays once a year, and the dollar amount moves with the yen. At a 0.19% expense ratio, the SEC's standard example puts costs on $10,000 at $19 for one year and $243 over 10 years. Past results don't predict the future; a plan needs to look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.