Global X Japan Topix 100 ETF (J100) — Review & Analysis

J100 tracks the Topix 100 Total Return Index — the 100 largest and most liquid companies on the Tokyo Stock Exchange. AUM is $18.32 million as at May 2026 with a 0.40% p.a. management fee — making J100 the cheapest Japan-focused ETF on the ASX. The fund launched in November 2025, so a full one-year track record is not yet available. Compare J100 against the broader Japan cohort on our Asia ETF page or use the Compare ETFs tool to put it side-by-side with IJP or HJPN.

The competitive picture is led by cost and index choice. IJP (iShares MSCI Japan, 0.50%) holds the MSCI Japan Index of around 230 names — broader, larger, and the long-established choice. J100 holds 100 names from the Topix 100 — fewer holdings, more concentration in Japan's biggest blue-chips, and 10 basis points cheaper. HJPN (BetaShares Japan Hedged, 0.56%) is the only currency-hedged option in the cohort.

Structurally, the Topix 100 is heavily weighted to financials, industrials and consumer names — Toyota, Mitsubishi UFJ, Sony, Keyence — with less mid-cap representation than MSCI Japan. The lower fee compounds meaningfully over a multi-decade holding period: at 0.40% versus 0.50%, the saving is real but small relative to the much larger currency-related performance gap between hedged and unhedged Japan over the past year.

For new investors building a long-term Japan position from scratch and prepared to accept slightly less diversification, J100's lower fee makes it the most cost-efficient option. Read our hedged vs unhedged ETF guide for the framework on whether to pair J100 with a hedged alternative.