Overview (ETFs)

Differences with Other Investment Trusts

Comparison of ETFs, Stocks, and Investment Trusts

  Stocks ETF Investment Trusts
Place of Purchase All issues available at any securities company in Japan Same as left Only at certain securities companies by issue
Purchase/Sale Price Set by investor Same as left Not able to be set
Order able to be placed as limit orders or market orders Same as left purchase and realize before the announce of net asset value
Trust Fees N/A Trust fees of ETFs are said to be cheaper than those of regular investment trusts.
(0.060% - 0.950%)
Same as left
(0.100% - 1.650%) *
Liquidity Same as ETF designated participants place bids and offers based on the net assets purchase by securities firm
Risk Risk pertaining to individual issues Risk pertaining to individual issues is dispersed via investment in multiple issues Same as left
Margin Trading possible(able to be selected as loan trading issues from the date of listing) possible No
Application of Insider Regulation Yes No No
Submission of Report on Large Shareholders Yes No No
  • Source: The Investment Trusts Association, Japan (Only Index Funds, As of August 2017)