JPAN vs SPAQ
Comparison between MATTHEWS JAPAN ACTIVE ETF (JPAN, ETF) and HORIZON KINETICS SPAC ACTIVE ETF (SPAQ, ETF).
JPAN vs SPAQ - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
JPAN
$10M
Winner
SPAQ
$10M
Expense Ratio
Winner
JPAN
0.79%
SPAQ
0.85%
Max Drawdown
Winner
JPAN
16.50%
SPAQ
17.06%
Sharpe Ratio
Winner
JPAN
1.28
SPAQ
0.15
5Y Beta
JPAN
0.87
Winner
SPAQ
0.01
P/E Ratio
JPAN
N/A
SPAQ
-17.09
Forward P/E
JPAN
N/A
SPAQ
40.16
Debt to Equity
JPAN
N/A
SPAQ
0.00%
P/S Ratio
JPAN
N/A
SPAQ
3.13
P/B Ratio
JPAN
N/A
SPAQ
2.07
JPAN vs SPAQ - Historical Returns
Returns include dividend reinvestment.
1M
JPAN
-4.56%
Winner
SPAQ
+0.02%
3M
Winner
JPAN
+8.29%
SPAQ
+2.24%
6M
Winner
JPAN
+10.70%
SPAQ
+2.93%
1Y
Winner
JPAN
+31.31%
SPAQ
+4.83%
Max(CAGR)
Winner
JPAN
+22.91%
SPAQ
+6.00%
JPAN vs SPAQ - Annual Returns (2023 - 2026)
Returns include dividend reinvestment.
| Year | JPAN | SPAQ |
|---|---|---|
| 2026 | +15.89% | +3.60% |
| 2025 | +23.26% | +7.39% |
| 2024 | +19.06% | +4.68% |
| 2023 | +5.77% | +5.52% |
JPAN vs SPAQ Drawdown Comparison
The maximum drawdown for JPAN was -15.21%, occurring on Apr 7, 2025. Recovery took 145 trading sessions.
The maximum drawdown for SPAQ was -5.30%, occurring on Sep 17, 2025. Recovery took 76 trading sessions.
The current JPAN drawdown is -4.56%. The current SPAQ drawdown is -0.10%.
| Rank | JPAN | SPAQ |
|---|---|---|
| #1 | -15.21% Sep 26, 2024 - Apr 28, 2025 | -5.30% Jun 20, 2025 - Oct 8, 2025 |
| #2 | -14.59% Feb 11, 2026 - May 8, 2026 | -4.05% Dec 13, 2023 - Mar 18, 2024 |
| #3 | -12.53% Jul 16, 2024 - Aug 23, 2024 | -3.95% Oct 15, 2025 - May 26, 2026 |
| #4 | -8.35% Sep 25, 2023 - Nov 17, 2023 | -3.55% Aug 22, 2024 - Oct 18, 2024 |
| #5 | -8.14% Mar 27, 2024 - Jul 5, 2024 | -1.02% Jul 7, 2026 - Jul 9, 2026 |
| #6 | -6.78% Jun 22, 2026 - Jul 20, 2026 | -0.96% Feb 12, 2025 - Feb 19, 2025 |
| #7 | -6.18% Nov 12, 2025 - Dec 15, 2025 | -0.84% Nov 5, 2024 - Dec 6, 2024 |
| #8 | -6.06% Oct 6, 2025 - Oct 27, 2025 | -0.79% Jul 27, 2023 - Aug 10, 2023 |
| #9 | -5.79% Aug 30, 2024 - Sep 23, 2024 | -0.75% May 27, 2025 - May 29, 2025 |
| #10 | -5.63% Jun 4, 2026 - Jun 16, 2026 | -0.71% Mar 7, 2025 - Mar 18, 2025 |
| #11 | -5.56% Jun 27, 2025 - Aug 8, 2025 | -0.71% Jun 9, 2025 - Jun 16, 2025 |
| #12 | -3.62% Jun 2, 2025 - Jun 27, 2025 | -0.68% Mar 21, 2025 - Apr 25, 2025 |
| #13 | -3.29% May 13, 2026 - May 26, 2026 | -0.60% Oct 28, 2024 - Nov 5, 2024 |
| #14 | -3.23% Aug 18, 2025 - Sep 8, 2025 | -0.55% Jun 9, 2026 - Jul 7, 2026 |
| #15 | -3.08% Jan 22, 2024 - Feb 12, 2024 | -0.52% Mar 21, 2023 - Apr 12, 2023 |
Correlation
Correlation between JPAN and SPAQ is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.
0.94
-101
Dividend Comparison (2023 - 2025)
JPAN vs SPAQ dividend yield comparison.
| Year | JPAN | SPAQ |
|---|---|---|
| 2025 | 5.10% | 16.69% |
| 2024 | 1.53% | 3.00% |
| 2023 | 0.51% | 2.60% |
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