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JAPN vs SPY

Comparison between HORIZON KINETICS JAPAN OWNER OPERATOR ETF (JAPN, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

JAPN vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
JAPN
$24M
Winner
SPY
$735B
Expense Ratio
JAPN
0.85%
Winner
SPY
0.09%
Max Drawdown
Winner
JAPN
24.13%
SPY
56.47%
Sharpe Ratio
JAPN
-1.03
Winner
SPY
1.62
5Y Beta
Winner
JAPN
0.71
SPY
1.00
P/E Ratio
JAPN
N/A
SPY
28.99
Forward P/E
JAPN
N/A
SPY
22.37
5Y Dividends CAGR
JAPN
N/A
SPY
5.43%
5Y EPS CAGR
JAPN
N/A
SPY
26.05%
Debt to Equity
JAPN
N/A
SPY
32.40%
P/S Ratio
JAPN
N/A
SPY
3.74
P/B Ratio
JAPN
N/A
SPY
5.61

JAPN vs SPY - Holdings Comparison

JAPN and SPY have 1 common holdings. Overlap is 0.00%

JAPN's top 25 holdings weight is 88.87%. SPY's top 25 holdings weight is 52.37%.

RankJAPNSPY
#1
FURUNO ELECTRIC CO LTD (n/a) - 10.08%
NVIDIA CORP (NVDA) - 8.10%
#2
JAPAN ELEVATOR SERVICE HOLDINGS CO LTD (n/a) - 5.24%
APPLE INC (AAPL) - 7.02%
#3
M&A CAPITAL PARTNERS CO LTD (n/a) - 4.59%
MICROSOFT CORP (MSFT) - 4.79%
#4
RESORTTRUST INC (n/a) - 4.46%
AMAZON.COM INC (AMZN) - 4.02%
#5
FINATEXT HOLDINGS LTD (n/a) - 4.13%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
HIKARI TSUSHIN INC (n/a) - 4.06%
BROADCOM INC (AVGO) - 3.10%
#7
FURYU CORP (n/a) - 4.02%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
ULS GROUP INC (n/a) - 3.92%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
ORO CO LTD (n/a) - 3.63%
TESLA INC (TSLA) - 1.89%
#10
PAN PACIFIC INTERNATIONAL HOLDINGS CORP (n/a) - 3.60%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
INTERNET INITIATIVE JAPAN INC (n/a) - 3.36%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
US BANK MMDA USBGFS 7 (n/a) - 3.35%
ELI LILLY AND CO (LLY) - 1.31%
#13
VISIONAL INC ORDINARY SHARES (n/a) - 3.30%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
KOTOBUKI SPIRITS CO LTD (n/a) - 3.15%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
YONEX CO LTD (n/a) - 2.94%
EXXON MOBIL CORP (XOM) - 0.97%
#16
KEEPER TECHNICAL LABORATORY CO LTD (n/a) - 2.92%
INTEL CORP (INTC) - 0.90%
#17
IG PORT INC (n/a) - 2.87%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
STARTS PUBLISHING CORP (n/a) - 2.75%
VISA INC CLASS A (V) - 0.85%
#19
OBIC BUSINESS CONSULTANTS CO LTD (n/a) - 2.67%
WALMART INC (WMT) - 0.81%
#20
ALPHAPOLIS CO LTD (n/a) - 2.54%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
TRANSACTION CO LTD (n/a) - 2.53%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
TSUBURAYA FIELDS HOLDINGS INC (n/a) - 2.37%
CATERPILLAR INC (CAT) - 0.66%
#23
TOWA CORP (n/a) - 2.35%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
SEGA SAMMY HOLDINGS INC (n/a) - 2.29%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
MACNICA HOLDINGS INC (n/a) - 1.75%
ABBVIE INC (ABBV) - 0.58%
Total Holdings36505

JAPN vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
JAPN
-2.02%
Winner
SPY
+1.90%
3M
JAPN
-5.18%
Winner
SPY
+8.55%
6M
JAPN
-12.74%
Winner
SPY
+8.18%
1Y
JAPN
-16.55%
Winner
SPY
+25.79%
5Y(CAGR)
JAPN
N/A
SPY
+13.32%
10Y(CAGR)
JAPN
N/A
SPY
+15.19%
Max(CAGR)
JAPN
-9.35%
Winner
SPY
+8.47%

JAPN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearJAPNSPY
2026-12.57%+8.26%
2025+2.79%+18.00%
2024N/A+25.59%
2023N/A+26.72%
2022N/A-18.64%
2021N/A+30.52%
2020N/A+17.28%
2019N/A+31.09%
2018N/A-5.24%
2017N/A+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

JAPN vs SPY Drawdown Comparison

The maximum drawdown for JAPN was -23.95%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current JAPN drawdown is -22.03%. The current SPY drawdown is -2.90%.

RankJAPNSPY
#1-23.95%
Aug 18, 2025 - Mar 30, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-5.63%
Jun 27, 2025 - Aug 6, 2025		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-2.90%
May 27, 2025 - Jun 2, 2025		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-1.52%
Jun 12, 2025 - Jun 24, 2025		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-1.34%
May 20, 2025 - May 27, 2025		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-1.04%
Aug 7, 2025 - Aug 18, 2025		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-1.00%
Jun 2, 2025 - Jun 9, 2025		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-0.36%
May 16, 2025 - May 20, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-0.07%
Jun 24, 2025 - Jun 26, 2025		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10N/A-9.30%
Jan 19, 2000 - Mar 17, 2000
#11N/A-9.05%
Jul 19, 2007 - Oct 5, 2007
#12N/A-8.88%
Jan 27, 2026 - Apr 14, 2026
#13N/A-8.41%
Jul 16, 2024 - Sep 19, 2024
#14N/A-7.35%
Sep 14, 2012 - Jan 2, 2013
#15N/A-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between JAPN and SPY is -0.68 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.68
-101

Dividend Comparison (1999 - 2026)

JAPN vs SPY dividend yield comparison.

YearJAPNSPY
20260.00%0.24%
20250.24%1.07%
20240.00%1.21%
20230.00%1.40%
20220.00%1.65%
20210.00%1.20%
20200.00%1.52%
20190.00%1.75%
20180.00%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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