Mitsubishi UFJ to launch low-cost US and global equity ETFs on TSE

Dec 27th, 2019 | By | Category: Equities

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Japanese asset manager Mitsubishi UFJ Kokusai AM is set to launch two new equity ETFs providing low-cost exposure to US large-cap and global stocks.

Mitsubishi launches low-cost US and global equity ETFs in Japan

Mitsubishi launches low cost US and global equity ETFs in Japan

The MAXIS S&P 500 US Equity ETF (2558 JP) and MAXIS World Equity ETF (2559 JP) are scheduled to list on Tokyo Stock Exchange on 9 January.

US equities

The MAXIS S&P 500 US Equity ETF tracks the S&P 500 Index, the most widely followed reference for the performance of US large-cap stocks.

With an expense ratio of just 0.08%, the fund will become the cheapest Tokyo-listed ETF offering exposure to the bellwether index.

It will join four other S&P 500 ETFs listed in Japan, issued by iShares, SSGA, and Nikko Asset Management, which also offers a JPY-hedged version of the index.

These funds range in price from 0.09% to 0.15% with the cheapest being the Japan listing of the $300bn SPDR S&P 500 ETF Trust which trades under the ticker 1557 JP.

Global equities

The MAXIS World Equity ETF is linked to the MSCI ACWI Index. Consisting of more than 3,000 securities across 23 developed markets and 26 emerging markets, the MSCI ACWI covers approximately 85% of the global investable equity opportunity set.

The fund also comes with an expense ratio of 0.08%. Interesting, it will be the first truly global equity ETF to list in Japan – its closest competitor is an MSCI ACWI ex-Japan fund listed by Nikko which costs 0.24%.

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